1931-09-22 — Page 9

GREAT BRITAIN OFF GOLD STANDARD.

BLESSING TO BRITISH INDUSTRY.

GOVERNMENT'S WARNING TO SELFISH SPECULATORS.

[REUTER, AND BRITISH WIRELESS}

LONDON, September 21.

The partial suspension of the gold standard act, which it in understood will be for six months, had a remarkably good receps tion by the Fress,

Beveral newappers appear to share Mr. W. J. Bryan's view on the gold standard as crucifying humanity."

The chorus' of approval is led by the Daily Mail which says: It in welcome news. The temporary suspension of the gold standard (which may prove in effect a complete suspension) will be a blessing to British industry. The gold standard had cost us 210,000,000 and almost ruined us, how it has we may broathe

more freely.

gone

The Daily Express is equally enthusiastic and maye: "Nothing more heartening has happened in years." Now our export trade will Have a chance to grow,

The Daily Hernid describes the Government's step as wise and salutary While the Times says: "The Government's deci sion is wise and will inure to benefit not only this country but the whole world."

EARLY GENERAL ELECTION UNLIKELY.

Some newspapera declare that the Government's stop obviates temporarily any possibility of an early general election against. which My Lloyd George throws his influence in a message to the Preen in which he says: "If the Nation remains steady and united we shall pull through all right. Our resources are quito adequate to meet the situation, but a faction fight amongst ourselves at this juncture will be unpatriotic and luuacy." He asserts, that the mere threat of an election precipitated the crisis,

British Counonsense, if given a chance, will find a way out PRINCE OF WALES REMAINS IN LONDON.

but

In the meanwhile the Prince of Wales, who intended to go to Balmoral to join their Majesties, decided, to remain in London, after a visit to Chequers, yesterday, where he lunched with the Premier who, in the course of a long conversation, fully explained the altuation.

Mr. Snowden will brondenat an address on the Government's decising at 9.15 p.m. on Sept. 21.

APPEAL TO PATRIOTIC INDIANS Addressing the Federal Structure Committee of the Round Table, Sir Samuel Hoare dealing with the suspension of the gold standard said, in relation to India, that to follow gold and so increase the sterling value of the rupee was at present out of the question, it had therefore beon decided to maintain the present currency standard on a sterling unsis. Sir Samuel Hoare appealed to patriotic Indians to stand by the rupee so to prevent a break in the exchange on which the structure of Indian finance was built:

FRENCH PRESS COMMENT.

Panis, September 21, Newspapers of all, shades express admiration at the British peoples courage in facing the crisis.

Le Malin says that the French Government is urgently con- aidering what measures should be taken, M. Flandin, the Finance Minister, is summoning a meeting of experts this morning, includ- ing some who have been recalled from Geneva.

The Bank of France holds Tres, 12,500,000,000 of deposits in London, s

GERMAN AND BOMBAY 'CHANGES CLOSED.

BERLIN, September 21.

All German Stock Exchanges and Metal Bourses closed today.

BOMBAY, September 2

The Stock Exchange dosed to-day = "

AMSTERDAs, September 21,

A momentous meeting will be held at the Netherlands Bank this morning between the. Management of the Bank and the Board of the Stock Exchange to decide whether the Bourse should be closed owing to the situation in Britain,

The decision of the British, Government will not be without serious consequences on the Amsterdam market

the

"CANADA TO MAINTAIN GOLD STANDARD.

OTTTAWA. Sentember 21. The Premier, Mr. Bennett, commenting on the British decision said that Canada purposed to maintain the gold standard,

At an emergency meeting of Directors of the Montreal Stock Exchange it was decided to close trading from Sept. 21, pending developments,

BANK RATE INCREASED TO SIX PER CENT

CLAUSES OF NEW BILL.

HONG KONG DAILY PRESS, TUESDAY, SEPTEMBER 22, 11931.

SILVER BASIS FOR CURRENCY.

AN IMPRACTICABLE SUGGESTION,

(THROUGH NEUTEN'S "AGENCY.].

LONDON, Sept. 21. ****The suggestion "seems imprac ticable, declared Mr. Ramsay | MacDonald, in the House of Com

mons, when replying to a question whether the Government would consider the extent to which it would be possible to restore trade with the Far East by establishing a silver basis for currency.

PAY OF DEFENCE

SERVICES.

NOT MORE THAN TEN PER CENT. CUT.

(THROVOM REUTER'{", AGENCY, ]/

LONDON, Sept. 21.

In the House of Commons" the Premier announced that in order to avoid hardships the redactions in the pay of teachers and Defence. Services will not be more than ten per cent., except in higher rates for non-commissioned officers in the Defence Forces,

AMERICAN BANK CLOSES DOORS.

BANK OF PITTSBURGH AND

PENNSYLVANIA.

(THEOBOK BEUTZ'S AGENCY.]

PITTSBURGH, Sept. 21. The Bank of Pittsburgh and Pennsylvania is not opening its doors to-day,

the price being therefore just over 4d. per b, which in the highest since the sensational fall on August 10. M

Nominal Quotations.

The increase is the natural con- sequence of the bank" rate advance, On the Foreign Exchange Market the few rutes quoted, were purely nominal, no actual business was done.

Dollars were quoted at 4.10 and French francs at 110.15.

Gold at 84/91 Per Fine Ounce.... At a meeting of London Clearing Bankers the rate on deposits at seven days" notice in the City; and County of London was fixed at 4 per cent.

The price of gold has been fixed at a nominal quotation of: Bi/9), per fine ounce, Saturday's price was 84/11

PARIS, Sept. 21. Provisional quotations of sterling today ranged between 119 and 116 franes to

the pound sterling, Quotations Inter were suspended officially a

.1

French Offer Help.

PARIN, Sept. 21. "The French Government is fol. lowing the British situation most closely and has spontaneously offer. ed help to the British Government,” is, contained in a statement made by M. Laval after conferring with the Finance Minister, M. Fandin. The latter had a busy morning con ferring with M Moret and other officials...

:

Customers at British banks re- quiring accommodation, were offered a hundred frança to the pound.. but were advised to exchange the fewest possible pounds sterling as a hetter rate was expected when events had settled down.

TRANS-SIBERIAN TRAIN WRECKED,

NO DETAILS OF CASUALTIES OR PERPETRATORS.

[THROUGH REUTER'S LOKMOY.)

PEIPING Sopt. 21 Chinese Eastern Railway officials at Harbin stato, that the trans- Siberian passenger train, which left H-thin for the West on Sept. 18, was wrecked by explosives on the morning of Sept. 18. So

No details regarding casualties or the perpetrators are yet available.

GRAF ZEPPELIN,

SAFE ARRIVAL AT PERNAMBUCO.

THROUGH REUTER'S AGENCY, 1.

PERNAMBUCO, Sept. 20. The Genf Zeppelin, completing its third trans-ocean fight in less than a month, arrived over the city at seven o'clock this evening.

· THE NAUTILUS.

CREW PAID OFF AT BERGEN,

ITEROUGH REUTER'S AGENCY.]

BERGEN, Sept.:: 20. Ser Hubert Wilkins, the leader of the submarine Polar expedition, has paid off the crew of the Nautilus.

MOSLEM CONFERENCE.

AT JERUSALEM IN DECEMBER

THROUGH REUTER'S AGENCY.}

JERUSALEM, Sept. 207

It is learned from the President of the Moslem Supreme Council that a Congress of Moslems from nl over the world is being held nt Jerusalem, commencing an December 7.

WEATHER REPORT

Yesterday a weather report, forecast and remarks, issued by the Royal Observatory as 3.20 pm, stated pidget

The typhoon which is now sevore is gear. Aparri, moving north

Local Forecast-NE, winds, moderath fine generally,

TYPHOON WARNINGS, The following typhoon warn ings have been received by the American Consulate General from the Manila Observatory : Manila, Sent. 21, 0.30 m Typhoon in about 12zdeg, Long. E and 17dog. Lat. N., moving N.N.W

Manila, Sent. 21, 11.30 a.m.-**** Typhoon in about 121deg, Long E. and 17deg. Lat. N., moving N.W..

Manila, Sept. 21, 0.15 .m. Cyclone or typhoon Wöl.

· Aparri, moving NW, of N‚N;W;

TRANS-PACIFIC FLYERS

ALLEN AND MOYLE LAND

AT NOME, S

(THROUGH REUTER'S AGENCY.]

Nome, Alaska, Sept. 21. Allen and Moyle landed here at 9.15.a.m, to-day.

JAPANESE ACTION

IN MANCHURIA.

CHINA'S CASE PRESENTED TO LEAGUE

OF NATIONS.

STUDENTS SLOGAN:

DEATH BEFORE

SURRENDER.

NANKING, September 21. Feeling is running high, many mass meetings have been held, there have also been, processions of students wearing anouraing bands, and carrying banners inscribed "Death before surrender "~ The Foreign Minister, Dr. OT: Wang, to-day declared Wo 4 may losa our lives and also our homes but we cannot give up any part of our country, which we have inherited through centuries: from oun forolathore.!!

PRIPING, Soptember 21, The authorities have prohibited students protest parades,"

·Japanese troops-occupied Kirin at six this evening."

SEVERE QUAKE

IN JAPAN

SERIOUS DAMAGE AND CASUALTIES FEARED,

[THEOTOK KIUTER E ADENCY.)

GSM Tokyo, Sept. 21 An unusually severe earthquake rocked the whole of the city of Tokyo at 11:20 this morning, AMEN

Numbers of people rushed into, the streets a laran and the build- ings swayed unpleasantly,

The shook appears to have been | felt over an exceptionally wide" aron, including West Japan," but hitherto no casualties nud, no sort- ous damage has been reported. 9 Killed: Several Hundred Injured. HARGA TORTO, Sept 917

The Central Observatory, ferrat that there has been. axrious domago "node casualties in the Saitame

FURTHER JAPANESE TROOP MOVEMENTS. Prefecture, where the 'qunko was

|| (rusovoH ANOTER'S AGENCY.]

. "!

whom he discussed the latest ovants in Manchuria.

Attitude of Reserve. *(THROUGH REUTER'S AGENCY.].

GENEVA, Sept. 20.

The last word in regard to the Japanese action at Mukden and other places in Manchuria, has not yet been spoken

14.30 Nanking, Sept. 21. The Foreign Ministry has înstruct- Fed: Mrg: Alfred Sze (chief Chicose delegate at Geneva) to lay the Japanese attack on Manchuria be fors the Council of the Lengus. 2

The statement points out that the completely unprovoked nad unwarranted attack and occupation, of Mukden, Changchun, Antung and other important places in Man churia is without paralel in the relations of friendly states since the establishment of the Lengue. It adds that the Chinese Govern-ceived an account of the events in ment made immediate representa Menchurin which has been com tions to the Japanese Government municated to the League, but in but there was not yet any indien the interests of a satisfactory settle." tion that the Japanese troops will ment, they decline to make any occupied areas. bo immediately withdrawn from statement to the public.

The Chinese and Japanese delega tions to the League Assembly are maintaining for the present, an atti tude of reserve. ve

The Japanese delegation has ro-

The next few days will doubtless sce developments.

apparently, centred on it, register. ed the same amplitude, as the dis | astrous Izu Peninsula quake inst

November

There is widespread disruption of telephonic communications and Bus- pension of electric railways, but, the damage at Tokyo is conâaed to the collapse of walls, cracks in build- ings, broken windows and a few fires which were quickly suppressed.

Ning persons are so far known to have been killed and several hun- dred injured in Saitama Prefecture, where many collapses occurred in the towns of Konoshu and Kumague.

CHINESE FLAGS HAULED: DOWN.

(Wáh, Tai Yot Pad.)

hum, the Japanese troops threaten

HARDIN, Sept. 1. After the occupation of Chang-

to advance into Kiria, Province. gari River have been commandeer- Six Chinero gunboats in the Sun-

ed by a Japanese aval force for military transport service

The situation at Mukdom is still serious. Arsenals, ammunition de nots, the aerodroms and other Government buildings are still being subjected to various forms of des

Neither delegation is auxious to Ching appeals to the League to aggravate the situation. take appropriate action immediate-ing a move on the part of the The Japanese appear to be await- ly and effectively, in accordance Chinose. In view of the fact that with the provisions of the League the Chinese have not yet received Covenant, with a view of causing instructions from Nanking. the withdrawal of Japanese troops from the occupied areas, and the preservation of peace in the Far East. Won MX

In conclusion China gives - an undertaking that she is fully pre- pared to abide by whatever decis Bion the League may adopt.

International Action Demanded.

truction.: me LONDON, Sept. 21. The Manchester Guardian com- menting on Manchuria says: The situation

demands international The refusal of Chinese National nction, which should be taken by ist politicians and publists to re- the League of Nations to bring the cognise the vital interests of Japan parties to a peaceful settlement, as in Manchuria and the immenso ad the Japanese Government has un-vantages of Sino-Japanese co-opera- fortunately forgotten to take such action on her own account.

Eiots in Chientao District, pate kui ka Tonyo, Sept. 21

A message from Changchun states. that a clash occurred this morning between Chinese and Japanese troops along the Changchun-Kirin Railway and that the Japanese have despatched a mixed" force of infantry, artillery and envalry to Kirin from Changchun, consisting of three trainloada,

Riots in the Chientao district,; gear the Korean border, are caus ing grave apprehensions, The Chi- nèse rioters have destroyed a Japani, ese Police Station, Post Office, and school.

Soviet Showing Signs of Unfriendliness.

It is reported from Hambin and Changchun that the Soviets are showing growing signs of unfriend- liness towards Japan. Soviet papers aro refusing to publish, any- thing but highly coloured anti Japanese versions of what has been: happening during the week-end.

According to Dairen and Muk- den Press despatches a brigade which has been concentrated on the Korean border entrained for Mukden this morning. Thess re. parts are not confrmable, but, if true, it is believed the troops moved without Goverment une tion as the Cabinet, which has been sitting since this morning, is sharp. despatch of further troops.

No Decision Reached,

the situation, and strangers. They are patiently awaiting the expected Stock Exchange Committee an nouncement and everybody seemed cheerful, hopeful and good bumour LONDON SURPRISED,

MORE 'CHANGES CLOSE LONDON, Sept. 21

CALCUTTA, Sept. 91. People rubbed their eyes this The Stock Exchange did not open morning in surprise when they read to day owing to the uncertainty on In nawapepers an ecount of receipt of news of Britain's suspen- yesterday's striking Governmentsion of the gold standard, ly divided on the question of the action. It was all sa. unexpected.

The majority of people are quite unfamiliar with the intricate sub- matter, as in the case of any ex-jert of the gold standard, and cessive food prices, the Government animated conversations consequent LONDON, Sept. 21.

Will not hesitate to act promptly ifly took place in trains, conveying workers of all classes to town, in After the Prime Minister has necessary,

an attempt to grasp the significance the formally introduced

"Gold

of the decisions and how it was Staddard Act of 1931 in the

likely to affect them, if at all. House of Commons this afternoon The operation-of-the-Bill-lAll city men including stock Mr. Snowden will immediately limited to six months, but a pro- brokers, are no less astonished than make a statement. At the second reading of the Bill little or noongation is always possible by ordi- others. The effect, was noticeable opposition is, expected. After its nary Parliamentary menos.

The question of a general eleo passage through the House of Comtion has necessarily been forced to mona the Bill will go to the House the background for the moment. of Lords who will be specially ummoned, after which it will re ceive Royal agent and become in this evening

Limited to Six Months,“

COMMODITY PRICES IMPROVE

SILA, Sept. 31. A suspension of the statutory obligation to sell sterling or gold against rupees was announced by Sir. George Schuster, Finance Member, the Legislative Assembly. This morning the Government decided to isme do ordinance giving effect to this decision which has already been signed by the Viceroy,

Tokyo, Sept. 21. The Cabinet eonference, closed. without reaching a decision regard. ing the War Minister's recommenda tion to despatch reinforcements from Koren, but Seoul Press, re- parts state that Army Headquarters despatch of troops to Manchuria, in Koren, have announced the

printmably fukdom, though neither the number or destination

BOMBAY, Sept. 21. Fear of Financial Reactions.

In view of possible financial re- 31 Throgmorton Street and the Fractions, all local Governments are pronches, to the Stock Exchange, declaring a public holiday to moris specified. which are usually wowded, about row, According to another Seoul re 1 p.m. were skrangely deserted owing to the closing on Government CALCUTTA, Sept. 21. port the Headquarters of naam The Stock Exchange will remain, have transferred a brigade to Kai fördaraganese Folosed till Sept. 24. I nei, on the north-castemi:frontier, Everyone Cheerful, sot po GENEVA, Sept. 21 in anticipation of orders to cross Stock brokera are, however, 10- It is understood the Bill contains

The Bourses at Zurich, Geneva the Tumen river into Chientao, One of the repercussions of the side their offices and it is recognis and Bale have decided to suspend three nizin clauses suspending gold standard decision was a gened that the reason for closing is to portion of the 1025 Act indemnify oral improvement in commodity prevent the markets being choked In the early stages the quotations

quotations of sterling provisionally, a folyt

Shanghai Peaceful ing the Bank of England for actionprices. Rubber was active, the spot wil sales from abroad, Foreign showed a drop of nearly twelve Conditions, in Shanghat are ex

SHANGHAI. Bopt. 21. which the Cabinet has authorised price rising to 2d per lb. as selling of securities all day. DE and making " provision by the against 2.5/14d, on Esturday,

per cent, actoring gold cove ceptionally peaceful. The com authorisation of Treasury orders it Metal markets and quotations of low lovely nonnifer and Oslo Stock Exchanges remain the gold standard than in Man Baburady forced down prices to a The Vienna, Brussels Stockholm munity seem more interested in necessary to meck any situation other commodities also improved at this morning Throgmortoned closed which may arise. The latter pro substantially mices of futures on Street became crowded with Stock AMSTERDAM Beat ord ision is expected to cover in the the Liverpool Colton, Exchange rose Exchange brokers, a sprinkling of The Amsterdam Atock Exchange case of any excessive, removal of nearly a id a 16 at the opening, clients, who had come to size up has closed opticsconden British capital abroad. In this (Continued on next Column.),

2. (Continued on next Column)

(Continued on Foge 10)

MONOOw, Bept, 20.

Marakhan, the Assistant Com missar for Foreign Affairs, receiver the Japanese Ambassador,

Remarkable Patience, {THROFŐR REUTER'S AGENCY.)

LONDON, Sept. 21, The Timer in a leading article on the fighting in Manchuria, says it is clearly unnecessary to preach moderation at Tokyo. Ma

The Japanese have endured with remarkable patience a series of affronte.

Mukder, Changchun Yingkow and Jananese flags are flying over other points already occupied by Japanese troops, while Chineso daga down have been forced to be hauled

All Chinese newspaper offices at Mukden have been proscribed, tion is a disquieting phenomenon,sity has been seized, hundreds of

while the famous Tung Peh Univer but there is no excuse for the students being driven out. Japanese officers who struck a blow without consulting their Govern mont. Consulti

General Chang Heuch, Liang, who

is being informed of every fragment

of news, streaming in from Man- They have, says the Times, pre-churin at his headquarters at Pei- sented Nanking with a grievance. ping, is reported to be in a mandlin

(Continued on nézi Column.)

stato

Hullo

MaryTM

'It's Janet, speaking

my dear, who do you think we have to play in the Anal

Yos! Botty and Sylvia absolutely the best couple in the club

Oh, we've simply got to beat them

bo they won the cup last year Besides, we're done so well up to the present that I'm sure we can do it Yos, we'll get in a lot of praction, and koep on with our sold Ovaltine I'm sure we have that to thank what we're dənə "

40 fit. It's kept us ever Cold "Ovalting" was lucky discovery e wasn't it? Just to have it with overy, moal instead of ten or coffea

• And It's so lovely in taste and so onay tô, maka 2. You know I un I used to be last year Baver fagged out after a hard set an

Daddy says it's the finest food In the world to build-up strong Dozven, I bellero all the tennis stars takon

Oh, yes, I have hot "Ovaltine when the weather is cool just the same "as Fido in winter!

prefer it hot

Just before going to bed, too You, I'm at the club nowy o bursy up and come along

gourt bys-bye

...I'll go and get

OVALTINE

Hot or Cold