1928-01-16 — Page 2

Page

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U.S. NAVAL PROGRAMME,

*A PAPER FLEET."

WHAT THE NAVY DEPART MENT WANTS.

[REUTER'S AMERICAN SERVICE)

Wasutxores, January 11th. The omission of a specite date for the completion of the new naval programme led to a long debate by the Naval Coraggittee. Representa tives and members wanted to know whether the Navy Department want.

merely a paper flect.

The Assistant Naval Secretary, Mr. Robinson, emphasised: It is ar intention to build ships," add- ing that if Congress approved the programme the Navy Department would immediately request the Appropriation of

855,000,000

start construction in addition to the gas,000,000 already requested for the Navy during the next, daca

your.

PRESS, MONDAY, JANUARY 16th, 1928.

THE LAMBETH PALACE CONFERENCE.

PRAYER BOOK TO GO TO THE"}

CHURCH ASSEMBLY.

[BRITISH WIRELESS SERVICE.]

Remy, Jan. 14th. The conference of Bishops at Lambeth Palace ended yesterday } and an ocial statement was issued stating that "The House of Bishops has agreed on a ensure for the introduction into the National Church Assembly forthwith. Thie measure will, in accordance with a. statement published by the two Archbishops on December 23rd, con. tain such changes as may tend to remove the misapprehensions and to make clearer and more explicit the intentions and inutations of the original measure.""

เป

The Premier called at Lambeth Palace yesterday to center with the Archbishop of Canterbury. The Archbishop was indisposed, suffer-

This announcement maile the Es „presentatives determined that

moye be mile to force the easing from à sight' chill ration of the tariffs in view of an increase in the import shedule of " agricultural products.

Press Opinions.

.::

NEW YORK, January th Commenting on Me Withur's act liar of the Namal programme the Democratic newspapers, The World and The Tice both anticipate a British American race in navali

nament, hat the latter is of opinion that, as President Coolidge and Congress are both opposed to competitive building there is reason to believe that Congress will not

mit the country to an unres trieted building programme..

On the other hand the Republican organ, The Herald Tribune, accepts Mr. Wilbur's assertion that the Caitil States is building only for her own needs. It argues that the bresent, programme, if adopted, will best give the United States parity with Britain under the 3-3-3 ratio, it will meerly save the United States from permanent inferiority.

GERMAN MINISTER OF DEFENCE RESIGNS.

THROUGH RECTER'S AGENCY.]

BERLIN, January 5th. Dr. Gessler, Minister of De. foner, has resigned.

It is learned in political circles that President von Hindenburg and the Cabinet have been trying for! some thaeta persuade Dr. Gaster to retain his portfolio but go on sick leave because the elections are not distant and a Cabinet crisis at present is generally regarded as inopportune.

A Momentous Step,

THE BRITISH HOSIERY

INDUSTRY..

IN A PROSPEROUS CONDI TION.

(BRITISH WIRELESS SERVICE]

Reors. Jan. 14th.

In the course of the hearing he fore the Board of Trade Committee of the application for the sale guarding duty on imported hosiery. inerchants who opposed the ap- plication, spoke of the prosperity of the British hosiery industry.

The buyer of a big Leeds Bru said he had not know the trade

prosperous in this thirty years' experience. In isdies stockings in recent years the British artiEcial silk bad almost entirey displaced the foreign silk and lisle hose. In the ladies underwear department this country did not huy more than five per cent. of forrien gunds! British purchases of foreign goods during the past ten years had de clined year by year. In 19th foreign purchases amitunted tu, approxi mately fity per cent. In 1923 they amounted to fifteen per qual, and today they did act exceed ten per cent.

THE CABLE AND WIRELESS SYSTEMS.

AN EMPIRE CONFERENCE.

BRITISH WIRELESS SERVICE}

Roux, Jan. 14th. The Empire conterence on the eable and wireless systems, which the Postmaster-General announced recently had been recalied by Great Britain, will begin on Monday"

Sir John Gilmour, Secretary for Scotland, will act as Chairman, und Mr. A. M. Samuel, Financial Secre sary to the Treasury, will be Great Britain's other representative.

BEYLIS. January 14th. Among the numerous ministers of a dozen Cabinets since the revolu in Herr Gessler alone has main tained his position throughout and has been continuously, the centre of the minst feree cuntroversies. He tand to his gun indomitably but finally was crampelled to acknow- edits his inability to deal with the rities of the forthcoming army estimates, Gessler is palpably the The conference owes its origin to victim of physical afflictions accen- the remarkable progress which has luated by the death of his father been made by wireless communien- and mother and of twe most promision since the introduction of the ing sons within a year,

Friction is alleged to have neeür. red recently in the Ministries of, War, and Foreign Affairs over munitions discovered.io Kiel. The resignation is momentous not only an account of the War Ministry's, influence of foreign polity but be cause of Gessler's great personal in- Rience over Marshal Hindenburg.

IRAK OILFIELDS.

A TRILATERAL AGREEMENT.

(THROUGH AEXTER'S AGENCY.]

"

PARIS, Jan. 14th,

. Briand has jaformed the Chamber Committee that a tri lateral agreement will shortly. he designed, whereby France will be given a direct share in the work. ing of the Irak oilfields on an equal footing with British and American interests.

Le Matia Bays that Erance is necordingly entitled to 20 per cent.. equivalent to 900,000 tons, of crude oil yearly, or half the amount she imports.

ENDURANCE FLIGHT

AROUND LONG "

ISLAND.

[REUTER'S AMERICAN SERVICE..]

HOOSEVELT FIELD, Jan. 1th. "Clarence Chainberlain, of the New York-Germany non-stop flight, is lowly circling Long Island, in

The Dominions of India and the Crown Colonies will all be repre-

aented.

cam system

The Prime Minister of Australia recently stated that during the first six months of its work the beam wireless service in Australia bad earned 45 per cent. of the tradie formerly put over the Parife calle. The Governments of the Kapire are concerned in the question be cause while some of thein are in.

terested in wireless services the

substantially interested inancially in cables.

are

The Imperial Cable which croises the Atlantic is a Government owned system while the Pacifie "eable is jointly owned by Great Britain.. Canada. Australia and New Zea- land, who are responsible for End- ing the money to cover any lossce that may be incurred in its work- ing, just as they share in any sur plus that may be available.

BRITISH GOVERNMENT

APPOINTMENTS.

(BRITISH WIDE,988 SERVICE)

Rrony, Jan. 13th.

H.M. the King has approved the following appointinenta

Major Sir George Hennessy to be Treasurer of His Majesty's House- held, rice the Right Hon. G. A. Gibbs, who has been created Lord Wraxall.

Major William Cope to be Comp- trollor of Household, vice Major Sir Harry Carnston.

Mr. F. C. Thomson to be Vice-

Chairberlin of the Household,

a Ballanca monoplane in an endeare Sir George Hennessy. vour to regain the world's, codur. ance flight which was wrested by the Germán, Risticz, at Dessau, Tho remained in the air 59 hours f1 minutes eight seööds.

Mr. N. G. Williams to be Par- liamentary Secretary Board of the Trade, vice Sar Burton Chadwick, resigned.

Flying Troubles.

|

By Special Appointment to H.M. King George V.

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IRISH FREE STATE ARMY.

BIG CHANGES CONTEM...

PLATED.

[BRITISH WIRELESS SERVICE)

REG, Jan. 14th.

Big changes, in the Irish Free. State Army are to take place.

As foreshadowed by President Cosgrave, some time ago the Gov- ernment has now decided on the recruitment of a territorial force. with a view to cutting down the standing army to the lowest pos eille minimum, 4,000 men between the ages of 1 and 34 are enled on to join inmediately the new loree, which styled "B" Class ile serve. They will be required to serve from one to three months in the army and six years in the

Teserve.

Although only 4,000 recruits are that within a few months double. asked for at once, it is expected

in the new force. r probably treble this number will

PAN-AMERICAN CONFER-

ENCE.

PRÉSIDENT COOLIDGE OFF TO

TUT

[IKUTER'S "AMERICAN SERVICE.]' WASHINGTON: Jan, 11th, President Coolidge and party has left for Key West to embark en a of the Pan-American Conference, battleship for Cuba for the, opening

INDIAN GOVERNMENT..

LOAN.

[ERITISU WIRELESS HELYIDE.]

#rony, Jan. 13th. Underwriting was arranged to day for the Indian Government loan of £7,500,000 stereng is 43 per el stock, to be issued at 51.

The redemption dates are 1928 to 1968.

TIPSY BRIDE AND BRIDEGROOM.

·HOLLYWOOD,

It is hoped gradually to efeende. the standing army to a small stan- dard body of men composed prin- tipally of" instructors and first class 100s. In the first year of its existence during the Civil War the army of the Free Stati cost

A fine of £6 was imposed on Mr. £10.000.000 sterling. This has been Pal Samerset, the English actor, reduced gradually, until this year following his arrest for drunken. when the estimated expenditureness at his wedding party. He was was £2,000,000. It is estimated that released shortly after his arrest. the new sekene will effect a further and at the hearing of the charge reduction to £1,500,000.

pleaded guiky.

OUTLAWING WAR.

THE FRANCO-AMERICAN, NEGOTIATIONS.

11

[BRITISH WIBEL238 SERVICE]

ReGuy, Jan. 13th. The United States Embresy in London to-day conveyed to the Foreign Office, for the information of the British Government, a copy of the further Note sent on Wednes- day by Mr. Kellogg, the United States Secretary of State, to the French Ambassador in Washington in continuance of the FrenoD- American correspondence on the subject of the proposed multilateral treaty for the renunciation of war as an instrument of policy.

U.S. CHEMICALS.

FOREIGN SYNDICATES'

PROGRESS.

(REUTER'S "AMISIDAN BERVIEL}

WASHINGTON, Jan. 14th.

In consequence of the progress made by international chemical

Commodore N. Douglas King to he Secretary for Mines, vice Col. the Right Hon. Lane Fox resigned.

Mr. A. Duff Cooper to be Finan-syndicates in American markets Secretary War Office, vice the leaders of the American Commodore King,

chemical industry have been sum- moned to meet Government off- cials at Washington on February

According to notes dropped from Chamberlain's monoplane the air-cial men have encountered oil and petrol leaks, trouble with their fly. ing instruments and sickness, but are continuing the flight.

Mr. F. A. Penay and Marquesa of Titchfield to be Junior Lofds of the Treasury.

Tel. C. 3517

[4.2.3.4

HONG KONG STOCK

EXCHANGE.

CLOSING QUOTATIONS.

Do

JANUARY 14TH, 1998, A.K. Bank...$1,180 buy., 1,185 s.

Du., London...£126 10. Chartered Bank £21.2.8 buy. Mercantile Bauk, A. &B. £32) us.

0...14 DUL F. & O. Bank...

10 nom East Asia Bank ..... Captro Insurance ..... Union Insurance North China Ins.

.472 pom ..$500 bag.

buy.

143 wom

. .

40 cl.

Yougtsze Insurance ......M. China Underwritin China Fire Insurance....$215

નરમ મ

zom.

buy., 218,

я дока

Hong Kong Fire Luz.......360 bay. Dougisses...... Steam boats. B.K. Tuge Indo-China (Pref.).

Do.. Shall Transporta Waterbosis, Banget Kailan Mining Ad....

pt.)

$48 num

Bi- nor

... nom.

$173

? nos,

buy.

!!

62/6 Dom Ti 18 buy. Tia, 10

11, 2.85 buy

Tha. 6.10 bay

8.95 buy.

217/6 buy. ...3120 bay,

$39 buy, 40 sa ..$450 buy,

Tla. 185 buy. Tis, & nom.

Langkata(combined)... Do. (single) S'ha Explorations Shanghai Loses Raub ********* Tronoh Mines B.K. & K. Wharf,. HK, & W. Docks... Chics Provident Chive Naw Buginearings. Shanghai Docks Tis. 90 buy. Hoogkawa..

Ewn Cottons. Ts. 7 buy, 7 sel Oriental Shanghai Cottons (old)... Tls, 16 buy.

Tia. 1.70 buy. Hi- Do. (new) Ts. buy, His wife, who was formerly Miss H.K, &S. Estols

bay.. Shelby Worrad and was also Eng 1ish, has pleaded not guilty to a K.K. Landa

$65 nom. similar offence, and was ordered to Shanghai Landa ......... Tia. 125

Luy. come up for triak

Humphreys Estates.....$14 buy. Hong Kong Realties......$7.30 buy. H.K. Territorials

now.

Mr. Pat Somerset was formerly the husband of Mas Margaret

$1 Bannerman and of Misa Edick | HK. Tramvaji ...... 1234 buy, & Day.

23 bal. Peak Traz (old)

Gal. (now).........$7 sel. Star Ferries...... $63 bay. Uhina Lighta (comb.)...... $14 buy.

4

EXCHANGE RATES,

BRITISH WIRELESS SERVICE.]"

Paris Brussels Amsterdam Berlin Copenhagen Vienna Helsingfors Lisbon Bucharest

Bombay "Now York

Geneva

Ruday, Jan. 13th.

Do. (old)......$103

Do, (nav).....$7) bay. HK Electrica 363 buy. & S. Macao Electrica 36 bay. Telephones

$3.90 bay. „Tls. 64 nom.

China Buses...

Bingapore Tractions......11/9 bay.

$9 bol

Malabon Sugars 3272 nom.

Ontiton Iss

Jun 23 tray. Cementa (combined)...... buy, 9

sel., 811.20 6. Do, (old).$buy, 7.85 Do. (new)......51 buy.

124..

34.98

12.093

120.17

China Bugars

18.20

34.575

Buenos Aires

1931 9.13/02 700 47.13/16

1/8.1/16

H.K. Hoper (old) ......

4:87%

Do. (as). $0.50 buy.

38 buy.

25.31

United Asbesto

310 sel

£2.20

Dairy Farmer'

bay.

Stockholm Oslo

Watsons

18:13

10 buy.

18.325

Der A Wing

Prague

Madrid

Athens

104 23.09. 307)

Mackintoshs..

.831 bay

sel.

$21 bay.

nom.

5.28/32

824 buy.

2/21 1/11.3/38

2/0

23,8/10

Rio

Shanghai Yokohama

Hong Kong Silver (spot)

Bilver (forward)

183

Lane Crawfords..

Binterns

WOL Powelle

H.K. Amusementa

B.K. Constractions.$i nom. B'que. Indas, G. Bonda...56% buy.

H., Govt Loans.......by pron, boy, kay-bayers; sel-sellery; saimmals»;