1931-08-03 — Page 9

FIDUCIARY NOTE: SITUATION IN ISSUE INCREASED.

BURMA.

£50,000,000 CREDIT FOR

BANK OF ENGLAND.

TENCUOU REUTER'S AGENCY.]

PARIS, Aug. 1. An agreement has been definitely roached between the

Bank of Franco and the Federal Reserve Bank of New York for the grant to the Bank of England of credits amounting to £50,000,000. The Bank of France and the Federal Reserve Bank ench are putting up £25,000,000,

Purely Precautionary Measure.

(THROUGH REUTER'S AGENCY.].

LONDON, Aug. 2,

Tho Treasury authorised the Bank of England yesterday to increase the fiduciary note issue by £15,000,000 to £275,000,000 for three weeks, This is purely a precau tionary measure by the bank which it hpplied for authority a few days ago when there was a very sovere drain on the bank's gold stocks coupled with the prospect of usual public withdrawals of cash around August Bank Holiday,

HONG KONG DAILY PRESS, MONDAY, AUGUST 3, 1931.

REPORT OF ECONOMY EDISON CRITICALLY HEAVY FLOODS TROOP MOVEMENTS PLOT TO DESTROY

COMMITTEE.

ILL,

NEAR HANKOW. IN THE NORTH. CANTON PLANES.

VICEROY ISSUES SPECIAL DRASTIC CUTS IN EXPENDI SUFFERING FROM CHRONIC PART OF CITY UNDER FOUR FURTHER FIGHTING ROUND NANKING AGENT FACES

NEPHRITIS AND DIABETES.

ORDINANCE.

GA

(THROUGH REUTER BAGENCY.)

SIMLA Aug. 1

A Viceroy ordinance has been issued which confers special powers for the maintenance of Inw and order in Burma, the authorities may arrest without a warrant agita: tors; requisition assistance from any person for the restoration of ordor seize property if necessary; prohibit the possession of arms and ammunition" and control of news. paperg.

OBITUTRY.

F. A. MACKENZIE.

THROUGH REUTER'S AGENCY.]

LONDON, Aug. 1. The death has occurred at Zeist, Holland, of Mr. F. A. Mackenzie, the woll-known journalist and Asia and Asiatic authority on

affairs.

While the present reserve of the Bank of England should be..ade quate for all nominal requirements it was considered prudent to ar range for an increase in the fiduciary issue.

to Meanwhile it is pointed out that the Franco-American credit rangement with the Bank of Enge land is purely a temporary men sure to ""tido "over the difficult period between now and the re- anening of Parliament at the end of October, when responsible bank-worker-Dr. Berdieu. ing authorities hope the Govern ment will prove conclusively that the Budget will be balanced by means of economy.

'He was a victim of cancer and became known as the Man With a Year to Live" as the result of newspaper article he wrote after only survive twelve months. the doctors had told him he could

GERMAN BANK RATE.

INCREASED TO FIFTEEN

PER CENT.

(THROVOÉ · REUTES'S AGENCY.]

BERLIN, July 31. It was announced to-day that the bank rate had been increased 18 per cent, while the Tale of interest on advances has been increased to twenty per cent.

The action incans an almost com plete stoppage of credit facilities, although the increase was not alto- gether a surprise,

The Reichsbank, in a statement explaining its action, says that the drastic step was delayed as long us possible in view of its injurious effect upon industry and agricul-

Lure,

The Raichabaak, however, hopes. that the incrense will facilitate a change from the present monetary restrictions to complete freedom, and thus enable a speedy return to leka onerous, rates of interest.

Another Government emergency decree is expected to be issued to morrow (August 1) increasing the Rums that may be withdrawn from eurrent account, and a resumption of ordinary financial transactions is expected to be permitted on Wed- nesday of next week.

Normal Banking Facilities.

Three months ago he went to Zeist (a small village 4 miles from Utrecht) for treatment at the hands of that noted cancer researcherr

„ATURE. RECOMMENDED,

(BRITISH WIRELESS `SERVICE |

Ruony, July al

The Report of the Committee np pointed in February by the House of Commons to make recommenda tions to the Exchequer for effecting forthwith all practicable and legiti mate reductions in National Ex penditure consistent with the effici Oncy of the services was published to-day.

The Committee, under the chair. manship of Sir George May, com- prised seven members, none of

whom was a member of the House of Commons and the main report is signed by five members subject to a minor reservation by une of them, while a minority report which displays disagreement with. the majority on saveral aspects of public expenditure in signed by the remaining two members.

N

"[REUTER'S AMERICAN ́SERVICE)

New Tons, Aug. 1 The inventor, Mr. Edison, is critically i

NEW YORK, Aug. 2. A bulletin states that Mr. Edison is suffering chronic nephritis and diabetes..

FEET OF WATER.

THROUGH REUTER'S AGENCY.]

HARKOW, Aug. 1.

The food position here" is "zeri, Lous The city bag but forty days'

PAOTING.

"FIRING SQUAD,

[TAROCOH REUTER'S AGENCY.]

FROM OUR OWN COERPAPONDENT.]

CANTON, Aug.12.

Mukdenites re-captured Proting. A dastard y plot to destroy

any and is cut off from the fu this morning. The contending interior. Half the city is under armies are now opposing each water and there is the danger ofother south of Fastingfu,

'the dyke, which protects Hankow from the swollen lakes behind, breaking.

The diabetes is now under con trol and the nephritis seems to be showing signs of improvingIt is caid that thero aro parts of Mr. Edison, suddenly collapsed the city under four feet of water yesterday afternoon but subsequent ly recovered and was resting quietly during the evening.-

SOVIET OFFICES RAIDED.

[CENTRAL PRESB.]

the acroplanes belonging, to the

National Government in Canton at Taishatau wis discovered last

Thursday.

Tho ringleader, Koo Shang Ying,

and sampans are the only means MARTIAL LAW IN TIENTSIN formerly a captain of the Canton

of transport there. Mat

The situation in not without its humorous side. Various Arms ATG using plying sampans for adver tisernent purposes. There have been many mix ups at street corners, because sampantuan are unfamiliar with land traffic regulations,

Air Force prior to his dismissal CANTON, Aug. 2. General Shih Yu San's troops are had been acting suspiciously. It After a was the plan of the conspirators to now attacking Machang, desperate resistance the Manchu set fire to all the seroplanos on the

One owner of a wooden house rian forces gradually give way.fiold inst, Thursday night. Had the

threatened by water broke up his house and built therewith a raft on

tels and punted off for an unknown destination,

Fearing the fall of this important

In submitting their major rom ENTIRE STAFF ARRESTED: which he piled his goods and chat has dispatched six more divisions planes of the Canton Government

mendations, involving an imme- diato saving, the majority report states that "they had reached the conclusion that the anticipated bor- rowing in 1932 on behalf of the un- employment fund and the rond fund should be regarded as a res venue liability and on this basis, it was estimated that to produce a properly balanced budget in 1932, including the usual provision for redemption, a deficiency of one hundred and twenty million pounds had to be made good by new taxa tion or by economics.

An Immediate Saving,

CARGOES SEIZED.

(THROUGH REUTER'S AGENCY."]

NEW YORK July 31 POSEIDON DISASTER,

A message from Buenos Aires states, the Police raided the offices. of the Amtorg (Soviet Comraercial | OFFICIAL FILM TO BE MADE Headquarters) and arrested the en- tire staff of 100, including 13

women.

"office, A

New York, Aug, 2.

It is reported from Buenos Aires that following on yesterday's raid of the Amtorg offices the Police to day visited another building where An immediate saving of £578-Soviet officials maintained a second Mr. Frederick A. Mackenzie was mended economies which cover pay 000 is anticipated from the recom- born in Quebec, Canada, on Sept. and pensions, defence, development besides their dumping activities, It is alleged that the Amtorg, 17. 1800. From 1900-1910 he was schemes, social services and miscel- have been carrying on the Daily Mail's War Cortesponlaneous expenditure.

subversive propaganda. dent, and from 1920-1974 Editor of The Time Weekly Edition, Among The most. substantial contribution the correspondentships he has held to this total is £00,000,000 which, it were, the Japan Advertiser and is recommended, should be saved by Ji Shimpa Tokyo; and the Chicago Daily News. In connec. tion with the last. med, he fre quently visited Russia.

Mr. Mackenzie was a writer of repute, and among his many pub lications were:The Unveiled Enst The Tragedy of Korea," Russin Before DawnWorld the Cymbale" and "The Russian Crucifixion."

Famous Crimen," The Clash of

He was elected President of the Association of Foreign Journalists in Russia in 1923.10

ROUND-THE WORLD

FLIGHT.

HERNDON - PASSES OVER"

IRKUTSK,

[TROUGH REUTER'S AGENCY.]

ONEX, Aug. 1. Pangborn and Herndon arrived here and took off Inter for Chita. Moscow, Aug, 2. Herndon and Pangborn flew over Irkutsk at 4.30 ..

WHERE IS LINDBERGH?

[THROUGH REUTER'S AGENCY.]

NEW YORK, Aug. 2. Col, and Mrs. Lindbergh, who are A decree which restores full bank-flying from Ottawa to Moosefactory,

BERLIN, Aug. 1.

ing facilities from Wednesday next

has been issued.

Ruinous Competition. The Buenos Aires Police announce that the raids were undertaken owing to the Russians commercial

redaction by twenty per cent, of the unemployment insurance bene

methods. A Police official stated fits, an increase of the weekly con tributions for workers, employers they imported goods on a great

scale and furnished ruinous com and the State, in the case of men, the extension of the scheme to in-netition by selling at half the usual clude certain classes now putside it, the application of a needs test to all applicants who have exhausted their insurance rights, but are still within insurance provisions.

A saving of thirteen million, six hundred thousand pounds is con- templated by a proposed reduction of teacher's salaries and education grants, an increase of Secondary School fees, and a reduction of the growth of education expenditure in the coming year.

of re-

Various other measures trenchment, including a reduction of doctors capital fees in......oan- nexion with the Naitonal Health Insurance, are estimated to save one million pounds.

A saving of £7,865,000 is esti- mated from recommendations for the postponement and slowing down of read schemes, and the lowering of the present high standard of maintainance,

A saving of five hundred thou- sand pounds is contemplated by a reduction of the various grants made through Ministry of Agricul ture and Fisheries, of £478,000- by restricting items of the Forestry Commission, of £100,000 by obalish- ing the Empire Marketing Board and two hundred and fifty thou sand by the limitation of the grant

to the Colonial Development Fund. The largest item of economy un- der the heading "Pay and Pea-

prices.

The Police ordered the cargoes of two Norwegian ships to be seized because they were allegedly bring. ing wood for the use of the Rus- sian delegation.h

Tea

WEATHER REPORT.

Yesterday's weather report, forecast and remarks, issued by the Royal Observatory at 5.32 p.m., stated:-

A feeble anti-cyclone is cen tral to the N.E, of Tokyo. A depression as central to the south of Hanoi.

Local Forecast:-East winds, moderate; generally cloudy;.. occasional rain.

CHILDREN KILLED BY GANGSTERS.

PUBLIC INDIGNATION.

^ [REUTEN'S AMERICAN EERVICE)

NEW YORK, Aug. 1 Public anger has been aroused by have not been heard of since 1.15 ferential bonds usted to the Goying of two little children in the sions" are the abolition of the pre- the killing of three and the wound- p.m. Flying conditions are perfect BERLIN, Aug. 1. and the route is fairly safe, there.rnment industrial employers in course of warfare between rival The Government has decided to fore, it is believed that his radio the dockyards and ordinance fac criminal gangs which led to Poñoe guarantee interest and principal has failed.

tories, £324,000; the introduction of Commissioner Mulrooney yesterday of all foreign short-term credits in Germany,

BERLIN, Aug. 1. Fohowing the increase in the discount rate the Reichsbank has cancelled all restrictions on credits vis-a-vis private banks.

One of the most important men- sures issued by the Reichsback is that bills of exchange, which are deposited with the Reichsburk, must be settled within ten days as long as the present high rate is valid. As soon as hankers demand for loans on bills have abated the Reichsbauk will consider a reduc- tion in the discount rate.

AMY'S PROGRESS.

MAKES FORCED LANDING.

IN SIBERIA.

THROUGH REUTER'S AGENCY.]

Moscow, July 31. Miss Amy Johnson has been obliged to make a forced landing at Tiajin near Mariinsk, Siberia.

Moscow, Aug. 1. Miss Amy Johnson has arrived at Irkutsk.

MAWSON ANTARCTICA

EXPEDITION.

A THOUSAND MILES OF NEW COASTLINE FOR BRITAIN.

THROUGH REUTER'S AGENCY.]

LONDON, Aug.

AUSTRALIA-ENGLAND

FLIGHT.

IN LONDON.

{THROUGH, REUTER'S AGENCY.]

of the Kirin troops to relieve the defending troops at Machang...

town Marshal Chang Hauch Liang Plos been carried out, all the nero-

would probably have been reduced to ashes. But as it was, the plot

was sipped in the bud, and no

harm was done.

Tientsin is now under martiai. law and the officials and their fami lies have fled the concessions,

SEVERE FIGHTING.

(Chen Wan Tat Pao)

́ ́. LONDON, Aug. 1. An official film which is a recon struction of the drama of the sink-

PEIPING, Aug. 2. ing of the submarine Poseidon is being produced by the British In-

The tide of war in the North up- ternational Pictures, Ltd.

pears to have turned in favour of miralty a similar type of

By arrangement with the Ad- the Musden Army. Since General marine will be used and a number Chang Hauch Liang ordered a of submarine ratings will partici|counter-offensive against Shih Yu pate.

Bub.

Koo Shang Ying, it is, aloged, had been promised by Chiang Kai *Shok 8230,000 Hong Kong currency,

of which $50,000 had been already. been paid, for the destruction of the Canton planes. The balanco of the money was to be sent to him upon the accomplishment of bis mission of destruction, he was fur-

The film will be shown to the San on Friday, severe fighting, has ther promised, it is learned, a post- public at about the time the King occurred along the Tientsin-Pukowtion of Brigadier-General in the makes the presentation to Chief Railway. Part of Bhib Yu San's Nanking army. Petty Officer Willie.

"NAUTILUS."

TOUCHES AT NORWAY.

{THROUGH REUTER'S AGENCY.]

BEROZN, Aug. 1.

The Nautilus arrived here a 6 o'clock this morning.

She left Plymouth on July 28 for the Arctic via Norway.

LORD KYLSANT.

BAIL PENDING HIS APPEAL.

[THROUGH REUTER'S AGENCY.]

LONDON, July 31. The Judge in Chambers granted Lord Kylsent, bail pending hearing of his appeal against his convic tion.

PARLIAMENT ADJOURNS.

(THROUGH REUTER'S AGENCY.]

LONDON, July 31. Parliament has adjourned until October 20.

GERMANS TOAST KING GEORGE.

BRITISH OFFICERS

RECIPROCATE.

troops at Tingehow and Ankuo are boing surrounded by the Mukden forces.

The Shansi Army, formerly under the command of Marahal Yen Hsi

Shan, in on the move and marching eastward from south-eastern Shansi,

The trial was conducted with the greatest secrecy. It is reported that General Chen Hing Wan, the Police Commissioner of Canton, conducted the trial in person.. Con- siderable information of value is reported to have been extracted

their vanguard having reached from Xoo Shang Ying. Shihchinchuang, in southern Hopei.

Whether their move is intended for backing up Shih Yu-San or

After the trial, the Nanking agent was taken

Laken to ty outskirts of the otherwise is still very doubtful in city and there faced the firing spite of an official communiqué squad yesterday at sunset, isaued by General Chang Hsueh Liang's headquarters asserting that they are to attack General Shih Yu San'a rear in compliance with the Central Government's order."

ANXIETY IN PEIPING.

si and Kwangtung forces will jointly. march into Hunan instead of Kiang- Bi, while

precautionary measures will be taken to guard against any possible invasion of the Kwang. tung border districts by the "Reds" from Kiangsi and Fukien.

INDISSOLVABLE ALLIANCES.

[PARTY BULLETIN.]

[PASTY BULLETIN.),

CANTON, July 31 Paoting, an important city one hundred miles south of Peiping, has been captured by the forces of General Shih Yu San, according to a military report received here to. day. Proting is a strategic contre, and its capture augurs the early fall

CANTON, Aug.1 of Poping

As the National Government is Grave anxiety prevails in the the legal and properly constituted former capital. According to the administrative organ of the coun same report, General Chang Hsueh

the 1925 rates of pay for all the per-giving an order for the patrolling cers, with Vice Admiral Hansen, decide whether the Liaoning (Mupledged their support of Canton. sonnel of the fighting services, of the city by police in motors and armed with shotguns between six in the evening and six in the

£2,100,000; the introduction of å revised cost of living deduction for the officers of the fighting services, £400,000; a reduction of the nay of Police, £925,000.

morning.

As a result of the first night's operations a patrolman following

Under the heading of defence. Mulrooney's slogan "shoot above savings estimated at early one waistline" shot a member of a million pounds are recommended | party holding up a thop and 'ar- through the reductions of expendi- rested a second. He vows to get ture on research, technical deve the third whom, he knows. Two allowances, and other items, lopment, inspection costs, clothing other racketeers were mortally

wounded,

A reduction of the percentage of the wireless licence receipts paid to the British Broadcasting Cor- puration is estimated to yield four hundred and seventy-five thousand pounds

que nulars Savings,"

In addition to the recommenda- tions for Immediate savings, the Report consider measures with a xiow to limiting increases in ex

MOLLISON AHEAD OF SCOTT'S penditure in the future,

TIME.

(THROUGH REUTER'S AGENCY.]

CALCUTTA, Aug. 1.

It is proposed to abolish the Road Fund, into which the pro- ceeds of the motor taxation are at present paid, and future grants for rond develonments are to be made by annual Parliamentary vote.

เจ

examination of the distribution of The Report recommends the re the burden of defence within the Empire at a future date when the financial situation Overseas in more favourable.

Kiel, July 8-German naval offi-

Liang held in meeting last night to try, more northern generals have Commander-in-Chief of the Baltic den) forces should withdraw into General Li Chien Juí of Human Station, joined with British naval the Thred Eastern Provinces or de has declared his support of the officers here to-night in toasting clare in favour of the National National Government and is ready King George.

Government. The result of the to join the national forces when they reach Hengchow. Some get- meeting is kept secret.

The Shanel forces are requesting erals in Chiang Kai She's comp 15 British officers, guests of the for funds and promising to attack Cauton, and a representative has Rear-Admiral Astley-Hushton and Liaoning and Nanking authorities have also declared their support of German Admiral at his shore hond General Shih Yu Ban in the rear. quarters, joined in drinking the

arrived here to explain their posi tion to the leaders here.

It is the first time for 17 years that the King's health has been

drunk at a German function: in Germany.

health of President von Hinden. In well informed circles, this is burg..

but a trick to extort money, as the Toasts of the two navies werd also British Adrairal, the text of the to regain control, of Peiping and honoured but, at the wish of the Shansi generals will support Shib speeches was withheld:

At this dinner German naval offi Tientsin

......

Hankow,

cers commented upon the excellent The military commanders at behaviour ashare of the hundreds Hupth are viling one another for The Gap.

of British sailors from the cruisere power, hence Chiang Kai Shek With regard to the gap between Dorsetshire and, Norfolk, which put the anticipated deficiency

of in here on Saturday for a week's plans to quit Kiangsi for a trip to £120,000,000 and the economies.pro-stay. posed amounted to £90,000,000," the

Jack's Popularity. Report says that if it were possible Admiral Hansen anid, their pe- to arrange that all classes in thepularity with the townspeople was community should suffer sa all thoroughly justified. ret Around reduction of income, whe- thor' derived from earnings or in

Mr. J. A. Mollison arrived bering on an economie, basis the sub hesitate to as the sacrifico, but they As a stop towards placing housvestments, the majority would not The Discovery, Capt, Scott's old from Rangoon this morning He Aretle ship to-day berthed at is now approximately aday ahead sidies are to be reduced and the could not justify singling out London Docks after two years' of Mr. C. W." "A. Scott's record, local administration of education in public servants and pensioners for exploration in the Antarctic, the

Mr. Mollison is Australian to be reorganized, Ba

special sacrifice, leader of which, Sir Douglas, Maw who cannon The Department of Overseas.

Increased taxation may, there son, remained in Australia.

Wyndham,

Trade should become increasingly fore be necessary but, if possible, cope accusic said-to-day

self supporting by a policy of re- the burden, en adustry. Bet net they had charted a thousand miles

ducing the cost gh services. Trombo further increased, and the hope of new coastline which they had

beneficiarios,

is expressed that further menne, of fagged and claimed for Britain,

(Continued at foot of next column.) economy, may be discovered.

or attempt to establish a record for a fight from Australia to England, He arrived in Singapore from Batavia also a day ahead of Scott.

CANTON PLANS CHANGED,

WN(Wah Ter Yai Pao.)"

The Kiel newspapers 'say. that the excellent atlitude, - the moral con. line of the crews of the British duct and the spontaneous discip cruisers have already earned the

Canton, Aug. 2 sympathy of their German com

In view of military development rados and of the whole popriation in the North, the Military Council To-day craft of every descrip of the Canton National Govern took out thousands of Germans to nennet the Dorsetshire, moment have changed their military

Four hundred British alors plan eg

against Narking. The Kwang were to-night the guests of the municipality at a picture house, (Continued on nezi Volumn) ↑

At the proper moment all theses generals will openly announce their loyalty and allegiance to Canton, Nanking in aware of this danger, and, a state of extreme anxiety pre vails in that city.

The report in the Hong Kong.. vernacular Press that the Shanti troops will attack General Shih Yu San in the rear is absolutely un- founded,

nded, as an indissolvable alliance, has been created between, the Shansi and Kuominchun gen erals, Furthermore General Shin a very cautious man and will not move unless he is assured of: success.

captured Nanking following

Two years ago he could have

coup at Pakow, but as hom sure of his position, General Bik retired northward,