1932-01-08 — Page 9

GLOOMY OUTLOOK BUSY TIME FOR

IN AMERICA

PREMIER AHEAD

DISCUSSION

UNPARALLELED NATION.

WIDE CREDIT STRINGENCY,

REPARATIONS QUESTION

2,290 Banks Fail in 1931

"

C

{RECTER'S AMERICAN SERVICE. }

WASHINGTON, Jan. 7. NPARALLELED nation-wide. crodit stringency is revealed In the report of the Senato Bank- Ing and Currency. Committee.

It urges the adoption, without delay, of the Bill for establishing the Emergency Corporation, and also shows how the man in the street is hardest hit..

The Committee records a marked increase i borrowing from insur anco companies by policy holders, with the result that many BORN panies may be compelled to realise their depreciated securities in order to maintain losna to policy holders

and pay Bice."

(

(BRITISH WIRELESS; SUEVICE)}

RUGBY, Jan. 7

The Prime Minister arrived in London today on his return from Scotland and for the next few days will be in consultation with individualministers-and-experts and in studying fresh reports of various Cabinet Committees which [have bean meeting during the re

CCBB.

HONG KONG DAILY

A

SEVERE GALE IN ENGLISH CHANNEL

MANY VESSELS "IN DISTRESS

BRITISH WIRELESS SERVICE.

Ruguy, Jan. 6. the coasts, was swept by à terri "The South of England, particular- fio gale to-day, the first of a series of storms which, according to fore- easts, are approaching Britain from the Atlantie.

reported

Several nishaps are from the English Channel, where all shipping was subjected to Bevore buffeting.

The Southend lifeboat rescued the crew of a motor-barge which im- mediately afterwards foundered la the Thumea Estuary. The crew were in an exhausted condition.

In the Medway, a longboat - at- tuched to the destroyer, M.Ş. Whirlwind, enpsized, and one sen- man was drowned while Ave were saved.

Lifeboats were out in answer to

It is understood good progress has been made in considering tho preliminary work for the Lau. sanne Reparations Conference. Sir Frederick Leith Ross, of the Tren. sury, who has been carrying on conversations with French experts on the Reparations question, will have the advantage of discussing with the Prime Minister, the whole question in the light of the report of yesterday's Cabinet Committee enlls all along the South Coast and meeting before he returns to-morrow when the storm was at its height. to Paris to resume his conversation.

The Times says: Is may be several vessels were have to. that when the full Cabinet meeta Two litoboats are standing by the next week matters may have pro-500 ton Greek stemmer Alexan growed so far as to enable decisions der, which is aground in Dungeness to be taken. I understands that Bay, the view of the British Government liy that the best way to ensure success of the Lausanne Conference lies in working for some arrange. ment thus would re-establish confid- ones in Germany. By this meant not merely confidence of Germans in their own country hut confidence disqualifed 891 investments for of the world generally as to her

The assets of American backs. which have closed since the crisis

exceed $2,000,000. 2,200 banks failed in 1931,

DR

The Committee declares: This series of failures must be stopped," but numerous banks are now in danger having no securities which they are able to raise funds, while the capital of any others is exhausted through depreciation: | while railroads are most embarrass. ed na many of their bonds ara

savings banks and are now pinc-future position. sically unmarketable,

The Committes. also deplores the American export trade, "which at present is without the usual orvos- -Bar” można of support,”

The Emergency Corporation in being empowered to aerept bills not exceeding twelve months which, it is hoped, will facilitate the export of farm producg and manufactures.

CA Washington message stated Dec. 3 states-That the United States Treasury will face an en. orm118 defcit. amounting $1,400,000 is the gloom outlook envisaged by President. Hoordin his message te Congress,

The now-cleated Congress nasein bled for the first time to-day, and is faced almost immediately wh the task of reducing the anticipated deficit by various mesna,

The President. in ha mossage, says that the deficit at the end of the next scal year will not be Jess than the figure indicated unless taxation is increased and expendi-

ture cut down.

His proposals for tackling the problem are honded by pláns for a hugo Federal Finance Reconstruc tion Corporation, to which the Treasury should be authorised to subscribe a reasonable amount på capital. The Corporation will issue. ita own debentures and will be' liquidated at the end of two years. Its functions will be to facilitate Americau ngencies and exports, to make advances and to established industries, railways, and financial institutions.]

·AUSTRALIA ·AND. TARIFF PROBLEM

eli

FIRST TASK OF NEW CABINET

(Renter's, Special Service.)

*

печ

CANREIRA, Jan. 8. The tariff problem will be made the first business of the "Tederal Parliament when it assem

bles on February 17,

This decision was reached at a meeting of the now Cabinet, to-day, though no definite 'indication has been given. It is presumed, how- ever, that the tendency will be towards a reduction of the tariff wall

The Prime Minister, Mr. J. Lyons, has appointed Mr. Stanley M. Beues, former Premier, third in preference in the Cabinet,"

GEMRAN POLITICS

AN INTRIGUING" DEVELOPMENT

(THRONGH BETUE'S AGENCY. I

BERLIN, Jan. 7. An intriguing, development in German politics in the announce- ment that the Chancellor. Dr. Bruening, has invited Herr Hitlor, the Nari leader, to a conference regarding the of President pored re-election Hindenburg to further term of seven yeara. to the Presidency.

11

The Government desire a pro- longation of President Von Hin- denburg's term of office in order to avoid on early Presidential Election which would dangerously complicate the political situation.

It is practically certain that Berr Hitler will agree to the prolonga tion at least for one year, though ho may expect certain political concessions in return.

CABINET COMMITTEE

MEETING

Ruesy, Jan. 6. The Cabinet Committee set up to consider the question of reparations

The s.s. Jersey City, of 8,329 tons, was reported to be drifting this afternoon off the Scilly Isles with her engines broken down. A small conater was standing by while re- pairs were being effected.

MORE ARRESTS IN INDIA

APPEAL TO SUMMON PARLIAMENT

Bomb Sensation in Calcutta

(Reuter's Special Service.)

JANUARY &

"REDS" CAPTURE

KANCHOW

"GENERAL"- SUN JOINS COMMUNIST FORCES?

(From Our Own Correspondent.}

JAPANESE OCCUPY SHANHAIKUAN

|Lord Lytton: Chairman of Manchuria Commission ››

BRITISH ENQUIRY REGARDING P.M.R.

[THOUGH AKUTER'S AGENCY.]

Nakking, Jan. 7, It is reported that Japanese troops occupied Shanhaikuan this morning.

ing that the Japanese are moving beyond Chinchow towards Chios Proper is causing concern.

MANCHURIA COMMISSION

IBITION WIRELESS SERVICE}

Ruany, Jan. 6. Manchuria Commission

The list of five members of the will BA published in Geneva on Friday.p The Commission will meet in It is reported from Geneva that Geneva before leaving Europa, to Lord, Lytton wall, he Chairman of draw up a programme of work and the League Commission to Man-tablish entisfactory and rapid" churia.

lines of communication with the Council of the League.

CANTON, Jan. 7. Aucording to, a military com muniqué from southern Kiangai received here to-day, Kanchow, n The National Government to-day, commercial centre in south Kiangai, telegraphed to Mr. W. W. Yen, foll into the hands of Com-Minister at Washington, to pro- munists- on January 3, after three cord to Europe as China's "chied days of fighting. Over 10,000 Com representative at the Longue Coun hardment of the city. The garrison that position. munists participated in the bom. eil, Dr. Alfred Sze having resigned troop under Colonel Ma put up n good aght, but were greatly out- numbered Inspite of urgent mes It was laid down in the motion gas rent out by him, no reinforce for adjournment that Parliament monts came, and he had to give up could be convened oarlier than after his ammunitions became ex- arranged if circumstances' demand-hausted. The whereabouts of Col. od.

Losnow, Jan. 6.. An urgent appeal to the House immediately has been issued by a of Commons to summon Parliament number of Left-Wing Labour Clydeside stalwart M.P's including Mr. Maxton, the

The Loft Wing M.P.'s'havo urged immediata meeting. in order to consider the far-reaching problems facing the country.”

to worse, while the arrest at The appeal declares, inter alia, that industry is going from bad Gandhi shows that the Government isembarking upon a disastrous policy in India.

23

Salt Laws Broken. (THROUGH KELTER'S AGENCY.]}

Karachi, Jan, 'Û." Five Congress Volunteers, head ed by the local" Congress "Dictator" mado a gesture of civil disobedience to-day by marching to the seashore and viclating the salt laws.

The

The destroyer H.M.S. Vendetta developed engine trouble off South- sen and was towed into Porte-police did not interfere.

News of the boycott called for month. The departure from Porte-has greatly alarmed dealers in mouth of the Atlantic Fleet on the foreign cloth. One of them was annual Spring cruise and exercises even seized with a paralytic stroke was delayed until to-morrow, owing and mental derangement. to the gale.

8 MPH. Gusta,

Rucny, Jan. 7. Tempestuous weather during which in view of the forthcoming confer-gusts of eighty-two miles per hour once at Lausanne, met to-day, the were registered at Falmouth moder- Chancellor of Exchequer, Mrated last night, and vessels which Noville Chamberlain, the Foreign had sought shelter were able to Secretary, Sir John Simon, and resume their voyage, Viscount Snowden, attending.

Skies were steht sen this morning. clear with a gentle breeze and

Sir Frederick Leith Ross, of the Treasury, who is returning to Paris on Friday to resure the exchange of views on the subiect with experts of the French Ministry of Finance,

was present.

The Prime Minister is returning to London to-morrow morning from Lossiemouth. A full meeting of the Cabinet will be held early next wock,

FRANCE'S ECONOMIC

POLICY

DEFENDED BY M. ROLLIN, MINISTER OF COMMERCE

(Reuter's Special Service.)

The cruisers Norfok, Dorsetshiro and Exeter left Plymouth for the West Indies and further postpone mant of the Spring craise of the

Atlantis Feet was thnecessary.

notarily disabled, assistance was Although many vessels were tem forthcoming in all cases.

The battleship Royal Sovereign. and the cruiser Exeter, together with Plymouth Heboats for some hours stood by steanor which baxt lost ite propeller near the Eddystone Lighthouse. They were reened when the storm ceased.

The sale of foreign pince-goods at "Karchai has seriously declined. Congress Organisations. Dissolve.

MADRAS, Jan. 8. tions in Madre City have been All Congress and allied organisa-

dissolved.

Orders wore to-day promulated prohibiting metings at Trichno peli and a number of other towns.

More Arrests.

AHMEDABAD, Jan. 7. As in Bombay yesterday, the police here started a round-up of Congress leaders at 3:30 this morn- ing.

The arrest of thirty, leaders was affected withinbour.

NEW DEL, Jan. 7. The Urdawful Asociation Ordi nance, has been extended to the Central Provinces.

Calcutta Sensation.

of the

The P. & O. liner Rajputana, in

--*|- CALCUTTA, Jon, 7. Asensation was caused by the which Mr. Lloyd George had travel discovery of five live bombs in led from Ceylon, arrived at Ply-first-class compartment month this morning. He said they had had a pretty good dusting" during the stormi but the paasen- gers escaped without injury. Other wise it had been a "delightful voy-

age.

PARIS, Jan. 7. France's economie policy during Much damage was done by floods. the present crisis was defended by yesterday. In many areas ronde M. Rollin, the Minister of Com- were submerged and rivers over merce, when speaking at the open-flowed their barika, particularly in ing of the new offices of the Cham- north-western. Enland. ber of Commerce. He said: "Al though France is comparatively less hard hit by the universal do pression, she nevertheless has been sorely tried."and she is forced to have recourse to temporary men sures which in no way differentiated between importing countries and hus not interfered with the norujil working of exchanges. The Govern- ment have been at prips to come to

friendly arrangements with other countries.

FRENCH WAR ON POUND STERLING

DISCREDITED IN CITY

CIRCLES

[BRITISH WIDELES: SERVICE.)

Ruoay, Jan. 6. The statement, published to-day, that French banks are launching an attack on the pound sterling by withdrawing their balances, was de- bated in authoritative rules in the City. Ever since Great Britain woat off the gold standard, how- over, the attitude of Frouch bank- ing authorities towards sterling bas been friendly and helpful, and there is no indication of any likelihood of a change in this attitude.

RECENT REVOLT IN ARGENTINE

FRONTIERS NOW VIGILANTLY GUARDED

(Reuter's Spacial, Service.)

An extensive landslle nccurred on the Sheffield Manchester ros over the Pennines and in south Wales many farms are isointed owing to the floods, and railway traffic in Rome centres is inter. rupted.

MR. WINSTON CHURCHILL

"

ON TOUR OF WEST INDIES

(Reuter's Special Service.)

London, Jan. 6.

A message from Nassau, the capi- tal of the Bahamas, states that Mr. Winston Churchill, who is on a tour of the West Indies,"ie quickly re covering from his recent street accident in New York.

He has greatly improved in Health, but kas postponed his de- parture for New York from the 19th to the 25th instant,

To-day, Mr. Churchill was eater- tained to a banquet by the Bahama's. as Legislature.

ANGLO-EGYPTIAN AFFAIRS

NEGOTIATIONS TO BE RESUMED SHORTLY

THROUGH REUTER'S AGENCY.]

Chino, Jan. 7. Speaking in the Senate, Sidky Pasha announced that the Govern ment will shortly be resuming negotiations with the British Gov-

ernment in order to settle out- standing points,

the allegations that the Civil Guards are acting aggressively,

In spite of the Premier's declara

public feeling tion, however,

BUENOS AIRE, Jan. 7. The Argentino frontiers are being vigilantly guarded by the authori ties while investigations are pro- coeding regarding the racont abor tive revolt, in the provines of Entre Rios, which is alleged to have been organised by adherents against the Guards is at present of the deponed President, Big, intense, particularly in the rural Trogoyen, in Uruguayan territory. I arena.

Darjuling express on its arrival here to-day..

WEATHER REPORT,

Yesterday's weather report, forecast and remarks, issued by the Royal Observatory at 8.30 p.my stated:--

The anti-cyclone is now cen- tral to the north of the lower Yangtze Valley. The typhoon is nearly stationary about 200. miles N.N.E. of Yap.

Local Forecast:-Northerly winds, fresh overcast at first ¦ finer later; élder.

TYPHOON WARNING.

The following typhoon warn ing has been received by the American Consulate General "from the Manila Observatory:

Manila, January 7, 9:20 a.the w Typhoon in about 130deg. Long,

· E.,and, 13deg: Eat," N.," almost stationary..

UNREST IN SPAIN

ALARMIST RUMOURS OF

COUP D'ETAT

THROUGH BRUTER'S AGENCY,]

MADRID, Jan. 6. To-night, alarmist rumowa wers rife of an imminent coup d'etat with the object of establishment of a new Dictatorship. The man be hind the plot, was stated to be General Sanjurjo, the leader of the Civil Guards.

The rumours are the culmination of a series of grave clashes between the Civil Guards and strikers, and demonstrators in several parts of the country, notably at Arnedo.

At Arnedo today, six persons were killed in a serious disturbance, | and two deatha 'nt SerraROSSÁ brought the total to fifteen in the

at five days,

The Prime Minister,

Ministes Befior Azana, declared tonight that there is no truth in the rumours that General Sanjurjo is plotting a Dictatorship, and he strongly rebuta (Continued on previous colurnar s

Ma, and his men is not knowɑ..

After capturing" Kanchow, the Communists set up a Soviet Gor ernment with Pan Tak Wai, the notorious bead

Red" lender, at ita

Tannours are current that the trorps under General Sun Ling Chung in Kinngs have joined hands with the "Roda."

ir

OBITUARY

الله

LONDON, Jan. 7.

DIPLOMATIC PRESSURE

FREUTER'S AMERICAN SERVICE.

New York, Jan. 7.

Japan now promises to take the World diplomatic pressure on form of separate representations by. the Powers to emphasise their

Treaty Rights in Chinn, of which Manchuria is held to be an integral part, decimes the Washington cor- respondent of the New York Tiniei, The purpose of this move seems to be to complete negotiations from every possible angle until a per manent solution of the Manchurian problem is found.

FRENCH ACTION

(THROUGH REITER'S AGENCY.]

MR. ANDRE MAGINOT

FRIEND OF EX-SERVICEMEN.

THROUGH REUTER'S AGENCY.)

PAR18, Jan. 6. French ex-Servicemen have lost their best champion by the death early this morning of the War

PAR:s. Jan. 7. Minister, M. Andre Maginot, at the The possibility of the French age of Afty-four,

·Ambassador no Tokyo making re- Andre Maginos, who held minis-presentations concerning France's terial posts in a half dozen cabinets, Treaty Rights in China and Man was born in Paris in February, thurin in accordance with American 1877. His home, however, was al reportá is not ruled out'in authori. Mease, and it was there he entered sidered premature to define the ways, in the department of the tative quarters, although it is con- politics being elected deputy frem scope and aathire of such an action. Bar-le-Dua in 1910 His consti- tuency, and political ideals were PEIRING-MUKDEN RAILWAY substantially the same as "Pain- cara's, and the pair have often been caricatured together, partly because of this friendship, and partly be Maginot towering to six feet four cause of their disparity in SIZGA inches, whereas Poincare'e plump figure barely attaina five feet

seven..

-

Maginat's frat portfolio was that of Minister of Colonies in the Ribot Cabinet of 1917. He was Minister of Pensions in Brands short-lived Cabinet four years later. But his tecure. of offices in both instances was brief and it was not until the second Poincare Ministery than he was given a chance to show his capacities, Serving as Minister of War, he formulated and forced through the eighteen months' máli- tary nervice w cutting down the period of compulsory soldiering by aycur. Maginot retained his port- folio in the third Poincare Govern- | merit and also served in the Fran- cois-Marsal Cabinet

H

BRITISH PLANES FOR BRAZILIAN AIR SERVICE

(BRITISH: WIRELESE: SERVICE"]

RECEIPTS

| Toxvo, Jas, 7.

bassador visited the Foreign Offee It is learnt that the British A

th

Lord Lytton has accepted the appointment of British reprosenta- tive of the Commission,

The questions of the Chairman- ship of the Commission will rest.

CANTON STUDENTS AGAIN with the Council of the Longue.

ON STRIKE

(From Our Own Correspondent.)

CANTON, J7 Students of the Chungshan University have resolved to go on the fall of Chinchow. During this strike for three days in memory of period they will organise an anti- Japanese propaganda campaign.

JAPANESE BEATEN TO DEATH

COMPENSATION PAID TO DECEASED'S FAMILY

(From Our Own Correspondent.);

CANTON, Jan. 7. The Japanese who was beaten to death by an angry mob in Canton on New Pear's Eve was taken to Namaheqtay and there cremated after the matter had been amicably yesterday by the Japaneser bewer

this morning to enquire regarding settled between the Chaton Govern the impairment of British interestament and Mr. Stup, the Japanese in the Peiping-Mukden Railway by Consul-General in Canton. No dif- the action of the Japanese Armyficulties were experienced in effect retaining railway receipts. It is ing the settlement. Mr. Kin Triang understood that the Vice-Minister Ching Commissioner of Education of Foreign Affairs, Mr. Nuga, ex- of the Provincial Government of plained that the army had tempor. arily sequestered the money for the purpose of preventing it reaching Chang Haveh Liang, but now that Chang had withdrawn his troops the money will be handed over.

CONCERN IN AMERICA [ZRUTER'S AMERICAN SERVICE)

WASHINGTON, Jax. 0.1

It is indicated in highly authori tative circles that an importent" "statement by Mr. Stimson on the United States poles in the Fas East is shortly expected, following yesterday's conversation between. Mr. Stimson and the British and. French Ambassadors, regarding further co-operation of the three Rudar, Jan. countries, in the Manchurian ques Fifteen Moth training aeroplanes | tioni. Mr Stinson, however, at have recently been ordered by present declines to comment. Brazil. They will be the first The receipt. of offein despatcher British machines placed by con-by the State Department indicat. tract in the Brazilian Army Air Service.

The order was awarded, after a comparison of the Moth with Bevan competitive types of michine. put forward by the constructors of four nationa

Wireless" gear, night and blind flying instruments, bomba," electric eamera, and rocket signalling ap- paratus are included in the equipe | ment of these touring maxbines, of which the maximum speed is well || over 100 miles an hour.

Sanjar craft have been supplied recently for flying waiting to the Governments of Portugal, Sweden, China, Irak and Egypt...

ENGLAND-AUSTRALIA FLIGHT

"KINGSFÖRD-SMITH TAKES OFF FROM HAMBLE

(THROUGH REUTĖJUS AGENCY.].

LONDON, JE 7.

i Kingaford Faith. left Hamble nerodrome early this morning, on his return flight to Australia, with sove hundred pounds of air mail in his monoplane, the Southern Star

SPRINGBOKS STILL

WINNING

BEAT CUMBERLAND AND YORKSHIRE BY 27-5.

(THROUGH RAUTEN'S ADENOY]

LONDON, Jin, & Plasing at Workington, the Springboks beat a Cumberland and Yorkshire combined team by

8% FREE

OF

INCOME

ΤΑΣ

Kwangtung, first went to the Japan ese Consulate to apologise on he- half of the Canton. Government. The matter was peacefully settled and the, Canton Government. baves agreed to compensate the family of decoomed to the extent of Yon 3,000,

FENG TO VISIT HONG KONG

TO CONFER WITH HU HAN MIN.

(THROUGH REUTER'S AGENCY.1

SHANGHAI, Jan. 6. When interviewed by Reuter-this morning, Feng Yu Hsiang stated that he intended to visit Hong Kong in the near future to see Hu Bax Min

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