1933-12-30 — Page 9

THE AMERICAN GOLD ORDER

A Serious Handicap To

Commercial Houses

INFLUX OF THE METAL

LONDON

INTO

London, December 29. ALL GOLD MUST commercial BE SURRENDERED

to

It was pointed out in London that the American gold order is a serious handicap bolding houses

bullion cover against commitments, but it stated that the aboard will be used as a substitute,

gold purchased Latest U.S. Treasury

The effect on the London Ex- change Market is small and the order is considered only for tight- ening up the existing regulations.

The influx of gold into London continues on a large scale and be tween December 18-23 nearly seven million sterling worth was import- million from ed apart from.one South Africa. The rest is the re- sult of the present abnormal con- ditions, and the largest item was from Switzerland, representing the shifting of hoarded gold. The smaller applies to amounts from Holland and France, and one million from the Argen- tines, probably in connection with the external debt payment. similar amount is shortly expect- ed. Reuter.

the

A

MORE PURCHASES Washington. December 29. Through the purchase of 788 million dollars worth of preferred to-day. stock and capital notes the Reconstruction Finance Cor-

Interested poration are now

in

3,883 American bariks with a total capital and surplus exceeding 1,230

million dollars.-Reuter.

ONLY A START

New York, December 29.

the

|

Order

Washington, Dec. 29. Supplementing President Roose- velt's gold order of August 23, the acting-Sécretary of the United States Treasury, Mr. Henry Mor- ganthau, has ordered the surrender of all gold to the Treasury, with the exception of gold bullion held under Federal licence, rare coins, unmelted scrap gold or gold used for industrial purposes.

Reuter.

i

HONG KONG DAILY PRESS, SATURDAY, DECEMBER 30, 1933.

BRITISH TRADE “WHAT CHINESE PROTEST AGAINST ARE THINKING”

WITH CHINA

Hope That Figures Will Increase

London, Dec. 29, The possibilities for increased trade between Chins and Great Britain and the need for greater contact between British manufac- turing Interests and Chinese busi nessmen, are discussed in the re- port on trade and economic con- ditions China, 1931/33, compiled done in a onercial Coun Louis "sellor at Shanghai, Mr. Be.

He emphasises that although the

strength and wealth of China should rest on her agriculture, yet in 1932, 20 per cent of her total Imports were wheat and rice and 10 per cent sugar and other food

Meanwhile, many of China's natural industries are declining, and less of her many frie pro- ducts are available or suitable for export.

stuks.

At the same time, Mr. Beale, praises the sincerity of the Chin- ese Government in their plans for pacification and reconstruction of the country,

FOUR YEAR PLAN

He quotes as an example the four-year industrial plan for in

in staple production creasing

Henceforth, no individual or car poration, except the Federal Re- serve Banks or the Reconstruction Finance Corporation, is permitted to own gold exceeding U.S.9100 goods, such as wheat, cotton, tex-

The Presidential order of August tiles and iron and steel 28 provides for the regulation, through the Internal Revenue Col- lector, of all gold hoardings, both coin and bullion. A penalty of a fine up to U.S.$10,000, or 10 years' imprisonment, was provided for breach of the regulation.

AIR

STRENGTH OF AMERICA

Admiral King Urges

The outstanding weakness of the financial position is the con- tinued heavy default on railway obligations to foreign lenders, and

of the rehabilitation

railway finances and operations is a pre- requiste of progress, he declares.

"He considers that the greatest market in China from now on- ward will consist of capital goods, including machinery and 'equip- which ment, opportunities for ought to more than offset the pro- bable loss to British trade in con- surable goods.

The keynote of British particl- pation in the development of

The New York gold edict Increasing Machines China must be

garded as a preliminary to eventual devaluation of the dollar by Washington correspondents.

While the New York Times as- serts that the Treasury denied the action had any direct relation whatever with the broader mone- tary plan which might be followed. the Herald Tribune declares that Congress inflationists consider it a further step to corner all gold in preparation of the centraliza- tion of gold as even the Federal Reserve Banks, have: $3,700,000,000 Gold stock in the Treasury it- self. Senator Connelly asserts the banks should be forced to

sur-

To Limit

42

Washington, Dec. 23. Congress was urged to increase the number of fighting aeroplanes to the Brit in the annual re- port of Admiral King, naval aero- nautics chief. The planes are ur- gently needed to bolster up na- tional defence, Admiral King de- clared. He also asked the time- of another diate construction

the 1.8.8. to replace dirigible

the de- Akron, pending which comissioned dirigible USB. Los

Investments and

with Chinese in co-operation terests, he declares. Both coun tries now realise that a share of control by the British Interests concerned and the aid of British benefit of technicians is to the both.

Mr. Beale adds that the forma- tion of a group, of British manu- facturing interests to explore the

T. Z. Koo's Successful Tour

AIR RAIDS Chiang's Methods Denounced

(From Our Special Correspondenti

Canton, Dec. 29,

a

London, December 29. Mr. T. Z. Koo, engaged by the

A resolution was unani- Universities China Committee has completed a most successful tour. He spoke fifty times in London, mously passed at the meeting Liverpool, Manchester, Edinburgh, of the Southwest Political Aberdeen, Glasgow, Cambridge and Council yesterday that Oxford and addressed altogether ten thousand people who listened formal protest in the name of with rapt attention. Koo's sub- the Southwest Political Coun fect was the Modern Outlook in eil should be sent to Nanking China and What the Chinese are against their drastic measure Thinking." He is now returning in bombing Foochew and other bome via America.

The China Committee have en chief cities in Fukien.

Immediately after the meet- gaged Dr. Fung, Professor of Philo- sophy, Peking, for almilar a course of lectures between the New Yearing the protest was drafted and Easter, his subject to be Chi and cabled to Nanking asking the Central Government to nese Philosophies-Reuter,

stop further air raids Fukien. In the telegram the local leaders strongly denounc ed General Chiang Kai Shek, Military Council, in adopting (From Our Special Correspondent) such merciless warfare against

Fukien.

SILVER MARKET

London, December 29.

Following are the Silver Quota

Spot

Forward

on

FRANCE DEFIES

GERMANY

Over Disarmament Problem

DIRECT FRANCO - GERMAN CONFERENCE DECLINED

Paris, December 29.

There is a likelihood of creating a first class international famous "secret", dossier sensation by the opening of the the publicly before the League which it is stated is in 'contemplation by the French Government.

The French policy, it is understood, aims at getting an agreement at Geneva substantially on the lines of the plan agreed to by Sir John Simon and M. Boncour last Septem-. ber and if Germany rejects the plan, France will produce the alleged condemnatory dossier before the League Council

The French 'reply declines a direct Franco-German conter- ence and affirms that France favours disarmament not re- armament and at Geneva, not elsewhere.-Reuter.

-AMERICAN PEACE PROPOSALS

Washington, December 29.

It is but a extension of the

They pointed out that the Nanking aerial bom-late Mr. Wilson's challenge for us TO

tons on the London market-to-bardment on Foochow and the leading cities in Fukien dor

Dec. 29. Dec. 28 brought great havoc and suf- 19.1/18 18.15/16 |

fering to the innocent civilians 19.3/16 19-

who were either killed by the bombs or rendered homeless, and most of the properties were ruined.

The London on New York cross rate to-day closed at £U.B.

STOCK MARKETS QUIET

Sterling on New York was 5.08 and

Paris 83. Business on the Stock Exchange which closes on Saturday and Monday is quiet British Government stocks are a little harder War Loan 1013. Gold 126/2d. Including premium of 344. over the French Franc.-British

Wireless.

THE ELECTRIC SUPPLY

to propose that from now onwards War by Governments shall be changed to peace by peoples con

governments, sald trolling their

"FAST UNTO

DEATH"

Fresident Roosevelt. speaking at Noulens Threat To the Woodrow Wilson Foundation

Prison Authorities Dinner.

He said that ninety per cent. of the world's population is con- tent with its territorial limits and willing to disarm if others did.

Fear of the other ten per cent.

that

Nanking, Dec. 29. Paul Noulens has begun a fast "unto death" unless he is uncon- ditionally released from prison, where he and his wife are serving a life sentence.

The Ministry of Justice and pri- son officials explained to the two prisoners that their release must be secured through the proper

In their protest the members of the Southwest Political Council demanded that a com plete cessation of air attacks on Fukien should be effected. For the sake of humanity and to avoid the destruction of

ELS the United.. leased. agreement such properties and civilisation in majority of nations signed an Fukien, Nanking should re-

States presented to the world pro- frain from launching any viding for the abolition bf, offensive further aerial attacks on that weapons and sanctity of territor

lal borders (effective only when province, they declared.

signed by all nations), then the REDS BECOMING "ACTIVE minority of nations believing in aggreesion could be determined. The Hangchow, Dec. 21.

League (the machinery of which States is utilising Vanguards of the Fuklen rebels, the United who penetrated to the suburbs of

more than ever) would become a Taishun, southern Cheklang, from prop in the "stracture of world | started Shouning, northern Fakten, were peace, though the United States Reuter. Peace Preservation units yester day.

might be swayed by that leader ship which is seeking territorial expansion which tay behind the threat to world peace. ten per cent. could, be persuaded by the other ninety per cent, to renounce that leadership, perman-legal channels, but Neulens re- ent world peace is possible. If the fused to abandon his fast and - sists that at least his wife bë re-

commercial possibilities in China New System To Be totally disarmed by the Chekiang does not contemplate

is worthy of serious consideration.

British Wireless Service.

render their stocks and Congress Angeles should be restored to duty: RECORD XMAS

would be willing to pass a legisla tion giving the Government $4. 000,000,000 dollars profit through the devaluation of the dollar.- Reuter.

BANK FAILURE RECALLED

New York, December 29.

a sult without precedent in the

Admiral King also disclosed that the Navy is experimenting with long range, high speed cruising patrol planes-United Press.

REFUELLING ENDURANCE

United Stated was filed to-day in New Record Claimed

the Supreme Court in which the Federal Government brought a claim to compel twenty banks, mebers of th New York clearing- house, to pay 11,000 depositors of the defunct Harriman National Bank 89,375,000 deposited therein. The representatives of the banks sued deny the allegation by the Government that they guaranteed the solvency of the Harziman Bank.

1.

By American Girls

IN BRITAIN

Business On Up- Grade

London, Dec. 24. Everything points to a record Christmas in Britain. Reflecting the general confidence that busi- ness is really on the up-grade, the Miami, Florida, Dec. 29. Post Office has engaged 1,050 extra The World's re-fuelling, endur-vans for London deliveries, a ance flight record is claimed to thousand above the number last have been broken by Miss Helen year. It has also engaged 11,000 Rickey and Miss Frances Marsalis, extra men in London, a thousand who are still aloft after 8 days. 4 more than last year, and 60,000 hours, 5 minutes.-Reuter.

The suit alleges that the clear- YANG CHIEH'S

the

ing-house committee during critical period, in 1932 pledged it- self to support the Harriman Bank 11. Government officials would permit it to remain open, though knowing its condition was unsound. It is expected the for- mal reply will be that the com- mittee were authorised merely to negotiate with and does not com- mit the member banks..

MISSION

Now

To Tour Germany

Rome, Dec. 29. -Yang Chleh's mission have left for Germany. All the expenses It is stated only eight of the during their eleven days stay in $1,000, twenty banks concerned had any Hongkong, estimated at knowledge of the negotiations was paid by the Italian Govern

ment. The Mission inspected the military and naval establishments and warships-Reuter.

Reuter.

RELIEF WORK IN AMERICA

Washington, Dec. 29. The United States Public Works Administration has alloted US, 884,000,000 for Federal and non- Federal projects, thereby reducing to UB.8144,000,000 the amount re- maining from the UB.83,000,000 000rund-Reuter.

GOOD PROGRESS MADE

At Rubber Growers'. Conference

Enforced

According to a telegram from Comi- Colonel Tu Chih-cheng, mander of the 1st Regiment of London, Dec. 28. the Chekiang Provincial Peace One of the most important sec- Preservation units, the bandits at tions of the National Electricity #houning are becoming increasing- supply system, knOWIL as grid.ly active. These outlaws have

south-eastern covering the

been recruited by the Fukien bogus eastern area from the South Coast government to harass the Che to the Wash will come into opera- klang border. As Taishun is close tion on Monday,

to Bhouning, the former city is also affected.

and

The area comprises more than

ship-Reuter.

member-

ANGLO-ESTHONIAN TRADE

Hopes Of Early Agreement

London, Dec. 29. The negotiations between the British and the Estonian Govern- ments, for a new trade agreement, which opened several weeks ago in quarter of the population of Great Two airplanes were despatch- London, will be resumed early in

by

Admin January. the Aviation Britain in which the consumption | ed

istration yesterday to recon- of electricity for domestic and in-

The ground has been cleared by dustrial purposes, particularly on noltre over the Cheklanga frank exchange of views and it outskirts of London are especially Fukien border. They brought is hoped that an agreement will, heavy. There are about 1,000 back the report that several thou be reached at an early date: miles of transmission line in this sand Fukien Insurgents were ad- Some of the Estonian delegates from Ping- are remaining in London and will, area and 34 main power stations vancing "northwards and 90 substations controlled this

nan and Shouning towards Tai-if necessary, be rejoined by the from the central "point at Bouth-shun.

others who returned home for the An enemy plane circled over the holiday season-British Wireless wark, London-British Wireless.

city of Kingyuan, southern Che Service." kiang, yesterday morning, accord- ing to a message from Mr. Chang Kingyuan-Kuomin

#l

extra men in other parts of the HOME & EXPORT Cub-yuan, district magistrate of

country, or 10,000 above the' num- ber last year. Record air-mails have been carried to the Union of South Africa and to India.

The railways are doing unpre- cedented business. Long-distance expresses are leaving London for the south and west coast every five

TRADES

Progress Towards

FUKIEN REBELS ON THE MOVE

Nanking, Dec. 21.

It is reported that the: Fukien insurgents, in an attempt to in- vade eastern Cheklang... have

minutes, and the number of ex- Recovery Continues moved their main forces north-

presses for Scotland has been al- most quadrupled. The traffic con- gestion in London to-day and for the past few days was enormous. Huge crowds are doing last-minute Christmas shopping and the shops all report exceptional sales, es- pecially of more expensive articles. Similar pleasing reports come from the provinces.

H

Iwards to the

border.

Fuklen-Cheklang

In view of the weak defences of London, December, '29...

Foochow, the Central Government Both in home and export trades, has decided to despatch the 3rd Army under General Wang Chun, evidence is accumulating that progress towards recovery is con- hitherto stationed at Hsuchow, tinuing in Britain Retail bual northern Kiangsu, and in north- ness has been exceptionally heavy ern Annwes, to Fukien. These during the Christmas. period and units are to land at certain points. Despite the forebodings of Free returns for November show that in that province with the assis- It will be remembered that the Traders regarding the effects of during that month advance in tance of the naval forces. The

Division under Eleut Chinese Military Mission arrived the new tariff, this year's Christ-value of 2,8 per cent. as compar 12th

General Tang Huni-yuan, serving in Paris on December 12, and were mas dinner actually will be cheap-ed with November 1932 was re-

than that in 1832. A. happy corded in retail trade generally, as the vanguards of the 3rd Army, Year is the Figures which are published in has arrived at the Capital where received by the Italian Premier, Signor Mussolini, and later visited omen for the New the naval establishment at Leg-marked increase in the demand for the Board of Trade Journal are the troops are awaiting steamers accommodation in restauranta, prepared by the Bank of England for transport, southwards-Kuo- horn,

The Mission, under General night clubs, and other places of from information supplied by re-min

tall organisations. yang Chien, head of the Nanking entertainment.

The bells of Bethlehem will be

For the first time in three years an increase was recorded in the Military School, is on a tour of Italy, France and Great Britain, broadcast from a church in the to-morrow studying military organisation and vicinity of Jerusalem

morning and the King will broad sales of food and perishables. The sale of non-food merchandise was training.

a greeting to his people 3.9 per cent higher in November cast throughout the Empire in the than a year ago.

Canton, December 29. Sandringham, All principal categories of goods

In supporting Mr. Hu Han Min's where all the Royal Family are show increasea except in plece spending Christmas-Reuter.

goods, sports, and travel goods, manifesto issued on 15th inst. for The number of persons employed the settlement of the internal at the end of November in the chaos, telegrams from various, retail business was three per cent, angles are continuously pouring greater than a year ago Statistics into this city. E are also published by Bank of Among them received here yes- England which show that notes interday were those from the Kuo- circulation on Wednesday totalled mintang of Swatow, the Com- 8397,581,846 which is the highest rades Association of Overseas, the level since Dec. 1928, Exports of Kuomintang of Canton-Bankow cotton and artificial alk in No Railway, the Kuomintang of Kuomintang of Kal-ping County

Central Press. vember exceeded those of the cor Chongsan University and the responding month last year by 1,409,005 yards. British Wireless

The members of the Mission will be some months aboard.]

WIDOW'S BEQUEST

London, Dec. 29,

afternoon, from

AIR TOUR

Batavia, December 29, A bequest of approximately LORD LONDONDERRY'S Three Government represents 205,000 has been made to the tives also the president and four London Royal Academy of Arts members of the Board of General by Gertrude Abbey, widow of the Rubber Growers Association of late Edwin Abbey, the artist who the east coast of Sumatra were was born in America but who came present at to-day's conterence of to England in 1878 and did most European Rubber Growers in the Dutch East Indies at which it was stated that satisfactory, progress was made-Reuter.

of his work here: He was a Royal Academician and an associate of the Royal Society of Painters, in water colours-British Wireless,

London, Dec. 29. Lord Londonderry, Secretary of State for Air, reached Khartoum yesterday by air from Wadi Halla In the course of his 16,000-mile, air tour he will later proceed to the

SUPPORT FOR HU HAN MIN

ป

In spite of attempts at per suasion by the prison authorities Mrs. Noulens refuses to intervene and even threatens a fast untó death herself,

.

The Noulers were convicted of Communist activities some months ago.--Reuter.

Nanking, December 29, Noulen's wife, Gertrude, has also

on a hunger strike

SIMON TO VISIT ROME

To Meet Mussolini On Thursday

London, Dec, 29. The Italian Premier, Bignor Mussolini, has invited the Foreign Secretary, Sir-Johm Simon, who is spending his Christmas holiday at Capri, to visit Rome on Thursday, January 4, for a discussion of the outstanding problems of the Euro- pean situation.

The invitation, with a New Year message of goodwill, was conveyed by Sir Eric Drummond, the BIL- tish Ambassador at Rome. British Wireless Service,»

Confidence

BAYER

is not permanently attained by flaring ad- vertisements which unscrupulously promise more than they can keep, but can only be achieved through the quality of a product. Do not listen to pertussive words to buy preparations from an obscure origin. Do not forget that your health is endangered Place full confidence in a product which has been found very useful for more than 30 years.

BAYER

Aspirin

does not harm heart or kidzieys, is an- tirely innocuous and will also quickly help you to overcome colds,Í

cheumatism,headache

Each original packing and tablet bear the well-known trademark the "BAYER CROSS

PIRIN

Beware of imitations!