1933-10-13 — Page 9

“SUNSHINE AND HAPPINESS"

America and the Near

ไป

Future

New York, Oct. 12.

Wall Street is most expec- tant Owing to runumurs that President Roosevelt is making the

an announcement

--on.

Monetary Policy on Sunday night.

at is

The Monetary Scheme present being discussed stated to include silver though bimetallism is considered-un- likely!

Treasury Secretary, who promises Mr. William Woodwin, the US.

good news next week.

Plan relieving fifteen mil- Hon unemployed are rapidly Being put forward, "including an extensive scheme providing the needy with farm products. In this connection; "the butter, own composition being played tax contemplated is expected by the famous Symphony Or to yield thirty million dollars chestra promised guests' "at for the purchase of dairy pro dinner before the concert some

very good news adding "I seem to be now able to see sunshine and happiness on the horizon."-Reuter.

duce and meat.

Mr. William Woodin, the Treasury Secretary who went to Philadelphia to listen to his

BOND ISSUE IN AMERICA

Large Government Transaction

Washington, Oct. 11.

The United States Treasury yes- terday issued a 're-funding call for U.S.$1,875,000,000 of the outstand- ing ..$6,000,000,000 issue of "Fourth Liberty Bonds and have.

simultaneously announced a

new

issue of 12-year bonds for the same amount, of which U.S.$500,- 1

#

next week..

OBITUARY

Mr. Charles H Sabin

...

New York, Oct. 12. The death occurred here yes- terday of Mr. Charles Hamilton Sabin, the well-known American banker and Chairman of the Board of the Guaranty Trust Company of New York,

"Mr. Sabin was in his 86th year. -Reuter.

000.060 will be offered at a cash GERMANY NOT

price of UB.5101.5 while others

will be exchanged for bonds of the Fourth Liberty Loan."

The new bonds bear interest, ut the rate of 4 per cent. for the

IN FAVOUR

HONG KONG DAILY PRESS, FRIDAY, OCTOBER 13, 1933

COTTON

SPINNERS

To Prevent Senseless Price-Cutting

London, October 12.

FAR EASTERN AFFAIRS

EXPENDITURE

FOR NEXT YEAR

Rich in Surprises Six Motions By Col.

Paris, October 11.

The Japanese-Soviet, tension is causing growing uneasiness here, and "Le Temps," in a leader.

tinue.

Secretary

MONEYLENDERS BILL

HELD UP 1.

A movement between spin-states that there does not seem ners of Egyptian yarns to pre. to be any prospect of any agree- vent cut throat competition is ment for the present if things con- Legislative Council Yesterday, aix Besides the Budget debate at the developing in the Bolton Mas

Thus, there may be much diff-lative to expenditure in. 1934 were motions by the Colonial secretary re- ter Cotton Spinners Associa culty to prevent outburst, the con- approved.. In proposing the six tion balloting scheme, based sequences of which will be grave." motions, he said:—.. 0 u new costing method.

At the present Japan has an unique opportunity of achieving its name are in connection with proposed The six Resolutions standing in toy It is believed that practical- ambitions in the Asiatic continent.expenditure in 1934 on approved loan ly the whole of the Egyptian

On the other hand, the Japanese works. Particulars as to what it is spinning section in which

who are acute political realists, intended to do are given on the last prices are already improving States would not remain indirector of Public Works. Resolutions to know that Britain and the United page of the memorandum by, the. Die will shorily be united to preferent if the existing Far East vent the "senseless price equilibrium should upset the vaster rutting."

and more complex Pacific problem which lurks behind the Russo-

Representatives of the Mas- ter Cotton Spinners Federation headed by the president, Mr. V. H. Catterall had already sent a deputation to Sir Horace Wilson and officials of the Board of Trade to discuss a scheme to restore prices to a remunerative level. It stated that the Federation are seeking the opinion of the government as regards the practicability of enforcing the Majority wishes on the Minority.--Reuter.

THE RUBBER INDUSTRY

--

THE WORLD OUTPUT

London, October 11. The rubber commodity and share markets this morning reflected an interest in the meeting of Marri sons and Crossfield, at which the Chairman, Mr. Miller, declared that experience clearly demon- strated that in the absence of a Rubber Restriction Scheme, and at a price of 4d. to 44d. per lb., the world output would soon rise to a

first year and 3 per cent there Of Discussing Protec million tons annually.

after.

The amount of the new issue of 12-year bonds is not specified, but it is expected to exceed U.S.$2,000,- 000,000.

The announceemnt came as 2 Surprise, as the Government must borrow from U.S.$6,000,000,000 to U.S.$8,000,000,000 in addition the converslan

the af Liberty Loan-Reuter.

NEW BOND ISSUE

to

Fourth

Washington, Oct. 12

The United States Secretary of

the Treasury. Mr.

William H.

Woodin in a statement, declares) that the new bond issue will pro- the Treasury with U.S. $500,000,000 in cash for current needs.

الماني

tion of Minorities

1.

Geneva, Oct. 11. Germany opposed the discussion of the resolution in regard to the protection of minorities, including Jews. Consequently, although all other states votes in favour of dis- cussing it, the matter

be dropped as a single vote will be enough to prevent the discussion of any resolution.-Reuter,

will

DISARMAMENT PROBLEM

Germany Takes Firm Stand.

"The operation was constituted 10 start refunding over U.S. $6,230,000.000 worth of bonds which unless previously redeemed, will

London, Oct. 12. Conversations on mature in 1938, when U.S.8000,000,-

the Disarma- 000 worth of Treasury notes willment question were continued at

mature.

3.

The conversion meant a material reduction of the annual interest charge on the Public Debt and a reduction in the volume of rear- term maturities, he states.-Reater

A GREAT ACHIEVEMENT

French and

the

Prices were lowered to-day but this is more due to marking down than pressure to sell-Reuter,

IMAGINATION RUNS RIOT

King Carol And Would Be Assassin

Bucharest, October 11.

A scare has been created by a newspaper story of a would- be assassin Who fired on the Bucharest Express near Targoviste, believing that King Carol was aboard whereas King Carol took an earlier train.

་་

Enquiries reveal that the conduc- tor of the train found the windows broken, and in order to escape any Personal responsibility, fabricated the story that the train was fired on.

Geneva yesterday, and in the afternoon

leading British. United States dele-- As King Carol's express followed gates had a sitting lasting for the sensational story-Reuter.

this one, imagination completed

about an hour.

sages it was stated at the con- According to Geneva press 'mes- clusion that complete agreement had been reached that rearming by Germany during the prelimin- ary period to be provided for by the proposed Disarmament Con- vention would not be countenan- ced.

M. Paul Bencour returned to Faris last night to report to his Service.

England to Australia Government. British

In Seven Days

London, Oct. 11.

The news of Air Commodore Sir Charles Kingsford Smith's great achievement in completing a flight |

Wireless

THE FATE OF NAGI

JAPANESE SILK IMPORTS

Serious Position In Britain

Japanese question.

The Jourdak Des 'Debats"

opines that a grave crisis is im- gain by launching out on wild probably as neither party would adventures, but you never can tell as Far Eastern affairs are rich In surprises."Reuter.

SILVER MARKET

(From Our Special

London, Octóber 12. Following are the Silver Quota- tions on the London market to day:-

Spot Forward

Oct. 12 Oct. 11 18.5/16 18.5/16 ......:18.7/16 18.3/8

The London on New York cross rate to-day closed at, £=U.S. 4.661.

cover the other two items, 2nd Cross Harbour Hips and the Wireless Tele graph Station at the Air: Port which are new Works will be moved, na soon as the authority of the Secretary of their cost to loan funds.

Admiral Sir Frederic Breyer, Commander-in-Chief of the British Asiatic Fleet, who arrived at Yokohama on Sept. 1933, on board the Cruiser Kent called on Navy Minister Admiral 26." Osumi at the Navy Office the same day. The Photo shows the guest (centre) and Navy Minister Osuml at his right.

State has been obtained to charge THE

I now therefore move.

the expenditure of $66,000 on the 1. That this Council approves of Aberdeen Valley. Water Scheme during the financial year 1984 which sum shall be met from a future loan and shall meanwhile be charged as an ad- vance from the surplus balances of the Colony.

:.

GAEKWAR

OF BORODA

Brief Visit to Hong Kong

Rae Gaekwar of Boreda, who is on His Highness Maharaja Sayaji his way home to India via Ceylon,

EXPANSION IN BRITISH TRADE

Increase in Exports "Revealed

London, Oct 11.

trade in September is revealed in A further expansion in overseas

2. That this Council approves of the expenditure of 88,000 on the Shing Mun Valley Scheme 2nd Section Pre- Correspondent)liminary Works during the financial year 1934 which sum shall be met frem a future lean and shall meanwhile be charged as an advance from the sur- | plus balances of the Colony.

was amongst the passengers passing the preliminary Board of Trade That this Council approves of through on the 5.5 Conte Rosso Ligures. Imports during last month the expenditure of 81,736,000 on the which arrived from Shanghai yes were value at 257,772,000, as Shing Mun Valley Scheme Sad Section terday morning. His Highness was against £58.754.000 in August and Gorge Dam during the financial year accompanied by his nephew and £54,272,000 in September, of last 1934 which sum shall be met from a secretary, "Mr. B. A. Gaekwar and year. charged as an advance from the suraavati. They party, however, did fature loan and shall meanwhile be his medical officer, Dr. P. M. N. plus balances of the Colony

4. That this Council approves of again by the same vessel when she not stay in the Colony and left the expenditure of 81,000,000 on the resumed her voyage in the evening. New Gool at Stanley during the finsa- cikl

year 1934 which sum shall be met

His Highness is a medium-build Re-exports of imported from a future loan and shall mean- man with a charming personality.chandise totalled last month £3,- while be charged as an advance from He was on deck when our repre- 404.000 against £4,300,000 in Aug- the surplus balances of the Colony. sentative found him. He was ust and £2,902,000 in September

5. That this Council approves of attired in a grey lounge suit and of last year. the expenditure of 8320,000 on the was looking very fit, and when Tytam Tuk Catchwaters during the asked if he would grant an inter- financial year 1934 which sum shall be view, he charmingly acceded, .. met from a futuro loan and shall meanwhile be charged as an advance been to America where he address. His Highness said that he had from the surplus balances of the ed the World Fellowship of Faith Colony,

FRANCE FOLLOWS SUIT

Another Recovery

Programme

Paris, Oct. 11.

there

& That this Council approves of (Chicago). He also took in the the expenditure of 8340,000 on the Air World Fair and was very much im The expenditure of a sum equi-Port-Air Port and Seaplane Slipway pressed with what he saw valent to £50,0000,00 was outlin- etc., daring the financial year 1934 Unfortunately, he was not able to ed in a nation wide programme loan and abali menwhile be charged an which sum shall be met from a fature for públic works in connection

an advance from the surplus balances of the Colony, the motions were passed

The Colonial Treasurer seconded and

with the plans for the Onancial

recovery of a scheme which some- what follows the present Ameri- can plan in providing for a mini- mum wage rate and the reducing of working hours in order to spread employment.-Reuter,

'NADOLNY RECALLED

Berlin, Oct. 12, Dr. Nadoluy has been recalled from Geneva to re- purt to the Chancellor on the Disarmament Con- ference: In the meantime it is expected that Herr. Hitler will postpone his eagerly awaited speech on Disarmame:it-Reuter..

BRUSSELS APPROVE

visited most of the other States. go to Washington, although he

From America, the party went on to Vancouver where they caught the boat to Japan and Shanghai before coming, here, and the are now on their way home after an absence of about six fonths.

situation of the world was concern- So far as the general political

J

ed £32,226,000. In the previous Exports during September totall-

month the value of exports was. £30,997,000 and in September of. last year £26,229,000,

mer-

returns is that the chief increases An encouraging feature of the

in exports are under dealing of articles wholly or mainly manu- Septerober, 1932, their value bas factured. As compared with

risen from £19,751,000 to £24,- 642,000.

relates to raw materials.

The chief increase in imports

A review of the January-Sep- tember period of the current year shows imports totalling 2487,823,- 000 and exports totalling £253,- 390,000.

In the first nine mantha of 1932 imports amounted to £520,213,000 and exports £271,- 107,000,--British Wireless Service:

Cabaret Licences The Attorney General, moved the first reading of a Bill to consolidate and amend the law relating to mis cellaneous licences. He said: Ordin ance No. 8 of 1867, which will be ed, His Highness would make no when the Conte Rosas berthed was repealed by this Ordinance, provided there is a great amount of unrest. received included Capt. K. B. Gore statement beyond the fact that Capt. Walter, A.D.C., while others

and his wife.

for the issue of licences in the case of

In the morning, His Highness and party were the guests' of Capt.. Gore and drove round the Island They stopped at Repulse Bay, and inuch interest, was shown by distinguished visitor in the beauty spot of the Colony.

our

auctioneers, hawkers, money-changers, Aa for India, His Highneas said and undertakers of Chinese funerals that when he left Home, everything and for billiard tables, skittle grounds was all right, True, there was I and nine-pin alleys open to the public. lot of disturbance, but that was due This new Ordinance requires licences to the fact that the people clamour for auctioneers, hawkers, masingeed for political freedom. Our re- establishments, money-changers, public presentative asked if it were not billiard tables, public dance halls and true that there was no unity be undertakers of burials generally. A tween the Hindus and the Moslems, The afternoon was devoted to a feature of the new Ordinance is that it that they were always quarrelling drive round the New Territories, contains in the Second Schedule the and fighting each other, and the and when His Highness sailed later regulations which are to apply to the reply was. That is why there is no in the afternoon a large number of

political freedom.

the Indian community went to give The first to call on His Highness him a right royal send-off.

different classes of licences.

The Colonial Secretary seconded and the bill passed its first reading, The Attorney General moved

That the rules dated the 31st day of August, 1933, made by the Chief Justice under section 48 of the Divorce Ordinance, 1832, and under section 8 of the Interpre- tation Ordinance, 1911, be ap proved.

Of Stronger Defences their final stages

Brussels, Oct. 11,

The Cabinet unanimously pass- ed plans to strengthen the Front- ier defences. Besides fortinca- London, Oct. 12. tions in the Herve Plateau, the The suggestion that the British scheme includes the reinforcement Government take steps immediate of anti-aircraft defences and re- ly to regulate the imports of Jap-organisation of Army equipment. anese stik-goods by quote or, if

-Reuter necessary by total prohibition,

from Lympnr England, to Dynd- Action Hanging Fire was made by the Joint Industrial

ham, Western Australia, in a re cord time of 7 days, 4 hours, 44. minutes, was immediately telephon- ed to Sandringham, where His Ma- jesty the King, who takes the keen- est interest in aviation. develop ments, is in residence,

The Marquis of Londonderry, lengthy Secretary for Air, cabled the fa- afternoon. mous Australian airman

4.8

Tokyo, Oct. 12"

Council of the Bilk, Industry after a meeting at Manchester, yester day.

British workers are unemployed The Council declare that many owing to Japanese competition.

The fate of the Tasa correspon dent, Nagi, hangs in the balance, no decision having been reached, although he was subjected to a

In view of the difference in eco- examination yesterday nomic conditions in the two coun- tries it is impossible for British

fol- It is intimated that the Govern-silk manufacturers to market pro-

inent has not yet disposed of his

be

ducts at prices competing with. Japan, the Council states.-Reu-

lows:

"On behalf of the Air Council 1 cnse. send you warmest congratulations The spokcaman of the Foreign ter. on your magnificent flight.?

Office emphasised that the question The Royal Aero Club also cabled of the Soviet's action in publishing congratulations to Sir Charles and the alleged revelations will Mr. C. W. A. Scott, who has treated entirely independently of throughout expressed confidence the question of the negotiations for. that his record of 8 days, 20 hours, the sale of the Chinese Eastern 47 minutes, would be broken by his Railway." rival said, "I could wish for no He added that Mr. Hirata, the finer airman to take the record Foreign Minister, is still consider from me.

ing what demarche to make, but he "Of course I shall have another declined to say whether the Ca- go at regaining it."British Wire-binet's approval will be sought Jess Service.../·

first. Reater,

REBELS IN RETREAT-

Dissension among rebel leaders

Peking, Oct. 11. led to the unexpectedly sudden collapse of the revolt of Fang Chen Wu and Chi Hong Chang and the rebels are now in full retreat Reater

A FLEEING RABBLE

Rebels Cross The Armistice Line

The Colonial Secretary seconded and the motion was adopted. It, was in- dicated by the Attorney General that it was proposed to bring the Divorce Ordinance into force on November 1.

The following bill passed through "A Bill to amend further the Dan-

gerous Goods Ordinance, 1873.," "A Bill to amend the Industrial and

Reformatory Schools

Ordinance, 1932" "A Bill to amend the Juvenile

Offenders Ordinance, 1932."

"A Bill to amend the law relating. to the jurisdiction of Magistrates în Bankruptcy offences."

"A Bill for the establishment and administration of a Mercantile Marine Assistance Fand in Hong Kong

With regard to the Bill to emend the law with respect to transactions with money leaders, the Attorney General asked that it be allowed to stand over until the next meeting of the Council as an application had been received yesterday and there had not been any time to consider it. The bill was accordingly put back.

Finance Committee

MIDDLEPARK STAKES.

Votes totalling $16,200 were approved Peiping, October, 11.

at a meeting of the Finance. Com- An official communique.dated Council meeting

mittee which followed the Legislative over which the Kaoliying, 5.15 am, declares that Colonial Secretary presided. remnants of Fang Chen Wu and Chi Hung Chang's - troops, broken by Government troop's attack, now constitute a deeing rabble, -run- ning through Shunyt on the Armis tice line towards Nin Lan Shan whence they came some weeks ago. Government troops pursued them to Shung, but not beyond the armistice line. Reuter.

London, Oct. 12 Medieval Knight winning by a The Middlepark Stakes ended in length from Mrs. Rustom who short head in front of Flying Coot. Eleven horses ran

Wae.

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