1934-01-20 — Page 9

REPATRIATION OF AMERICAN CAPITAL

A Gruelling Sterling

Dollar Duel

RETURN OF STERLING TO

PARITY OLD-TIME®

New York, January 19,

The Journal of Commerce reports that an agreement has been reached betwen the United States and Britain' to tempor-

a five to one dollar-sterling ratio. arily maintain

It says that the American Stabilisation Fund is expected to the British Exchange Equalisation to support sterling," while Fund will keep the pound at a rate about 79 francs-Reuter.

New York, January 19.

The sterling-dollar duel

Was

HONG KONG DAILY PRESS, SATURDAY, JANUARY 20, 1934.

SHOULD WOMEN

BE ADMITTED

Into Diplomatic And Consular Services

London, January 19.

In view of the observations on the subject "in his report of the Royal Commission of 1929/1931 on Civil Service, Sir John Simon, the Foreign-Secretary has appointed a committee to review the question of admission of women to diplo- matic and consular services and to furnish a report thereon for his information.

The committee consists of Sir

THE PRINCESS ROYAL

LOCH NESS MONSTER

Now in State of Com- Seen by Benedictine

plete Convalescence

Landon," January 19

It is officially stated that the Princess Royal is now in a .com- plete state of convalescence from her operation for appendicitis.

Monks

London, January 19.. Of course we have seen it,"af

Benedictine Monks in Fort Augustys Abbey firmed a group of near Loch Ness when questioned by Abbot Hunter Blair regarding the manster Hunter Blair, who is known in the loch intimately for

the

half a century. expresses conviction that the weird

CHEN DESIRES 19 ROUTF ARMY TO JOIN HIM

Negotiations Reported To Be Under Way

(From Our Special Correspondent)

DEFEAT OF WAI LAP WONG'S TROOPS

Claud Schuster (chairman), Sir Tangler and Jerusalem in 1928- but a permanent resident, probaby. ments to enlist the forces of the day It was stated that Wal Lar

Ronald Graham, Sir Roderick Meiklejohn. Sir James Rae, Misses Ritson and,

and Martindale Howard,

and Messrs.

Smith Dunlop... with J. W. Nicholls as secretary.

At a preliminary meeting this weck the committee decided Its

Reuter.

It will be recalled that the Prin- cess "Royal was operated on for appendicitis in hier London home on November 7. fast.

She will leave for a six weeks

Canton, January 19. t Following the fall of the People's tour abroad accompanied by Lord Harewood and will leave London on February 2, stay one month in

Revolutionary Government at Poo- then proceed to

chow, General Chen Chi Tang, the Tangler and Jerusalem where they will stay

Uttle time. They visited creature is not a casual visitor commander-in-chief of the First Group Army, is making arrange- some

almost the sole survivor of a

Nineteenth Route Army into his of common hundreds species,

azo-British own camp. General Chen is said to be very desirous to preserve the millions of years

Nineteenth Route Army on account Wireless Service

of lus meritous services towards the country during the Sino- Shanghai. Japanese conflict at two years ago.

General Chen sent his secretary in the person of Mr. Chen Yuk Kan to Hong Kong yesterday with the view to conferring with Gener- al Tam Kai Shou" regarding the the units of the 19th Route Army. It is understood that should this end satisfactorily General Tam will be invited to come to Canton and to be appoint- ed as the chief commissioner for the reorganisation of the Nine- teenth Route Army.

The operation was performed by Sir Crisp English and Surgeon Sir Francis, Shipway as anaesthetist, ley Hewitt and L. R. F. Knuthsen.

a feature of the foreign exchange IRISH - AMERICAN meetings should be private and assisted by Lord Dawson, Sir Stan-

market here, yesterday, and end- 4.96

ed in the pound closing at

as compared with 5.03 on Wed- nesday.

The slump in the pound is at- tributed mainly to the low maxi-

TRADE

་་

that it would at its discretion hear oral evidence.

Observations of the Royal referred to above Commission were the question as to whether should be admitted to

valuation of the dollar, and Free State To Buy one services as it raises, issues

the fear of self-defence measures

by Great Britain and France.

Slight repatriation of American 'capital and moderate foreign in- vestments in American securities heavy were other factors market-Reuter.

RUMOURS

of

a

DISCREDITED

London, January 19. City Circles are inclined to dis- credit the rumours spread by the Journal Commerce of a five-to-one dollar with sterling stabilization.. The dollar is inclined to re-act to- day as it is belleved the recent upward trend, resulting from dis- appointment of no creation of an

U.S. Coal

|

of high policy which can only be determined by the Government.

We note that the matter was reviewed by them at the time of passing of the Sex Disqualification Removal Act. We think the ques- tion, should not be regarded as rettled for all time by the decision then reached.

New York, January. 19. Mr. MacWhite. the Irish Free State Minister in the United States, announces that Mr. John Leyden, the Secretary of the Free

Having regard to the time State Department of Commerce and Industry, who arrived in New which has since elapsed, we re- York from Dublin yesterday, is commend that the Government should again examine the position going to Whasington next week.

The object of his visit is to study at an early date.-British Wire- the United States machinery mar-less Service. ket in connexion with the Free

State's plans to establish factories RUBBER OUTPUT

along the River Shannon.

He will chiefly interest himself

in an investigation of the possibil lities of an extension of United States and Irish, Free State com-

merce.

open gold market in America, is too rapid, but the intrinsic firm- ness of the dollar is expected to continue as repatriation of Ameri-

He will also study, the wheat can capital has barely commenced and the bulk demand at present market and see whether the Free from London and the Continent is States could advantageously buy: for U. S. bonds and not for 2,500,000 toris of American

of annually.-Reuter. equities proving the return confidence in the dollar stability.

Some Wall Street bankers pre-

C083

dict an early return of the sterling U.S. POLICY IN THE EAST

to its old time parity and estimate

the American balances in London at one billion dollars, and in Canada five hundred million

Some quarters are inclined to suspect the recent heavy offering of francs by one of the French banks -in London as a sign of action by the French authorities to prevent further appreciation of the franc, and others explain the selling as transfer of capital from

Washington. January 19. The first explanation given of the United States policy in Far Easter affairs by a responsible member of the Roosevelt Admin- istration since Mr. Franklin Roo- sevelt assumed office was made to- day.

The official spokesman was Mr. Paris to New York via London, S. K: Hornbeck, who is the Chief but best informed circles state that of the Far Eastern Division of the this morning's buying of sterling State Department.

by Paris was due to the bellef that stering French circles. in some irrespective of the dollar, was un- der valued.-Reuter.

AMENDMENT TO MONETARY BILL

Washington, January 19. The Senate Banking Committee has amended President Roosevelt's proposed monetary legislation to authorise. the Secretary of the Treasury to issue small non-inter- Benator Flet- est bearing bonds. cher has introduced a Treasury amendment to the Monetary Bill, increasing, by U. 8. $2,500,000,000 the amount of Treasury notes is suable.

The Treasury has explained that the amendment will facilitate the forthcoming huge re-funding oper. ations by permitting the purchase of any class of Government securi- ties with any other,

The explanation does not state whether the amendment would au- thorise the issue of non-interest bearing bonds of small denomina- tion.-Reuter,

MR. EUGENE BLACK EXPLAINS

Washington, January 19.

Up to last week, when the gold

The statement revealed that no important change has taken place in American policy as the result of the change in Administration.

In the course of his speech, Mr. Hornbeck declared that the United States would make every legitimate effort to be a good neighbour to the Far East by profecting the Rooseveltian concept of interna tonal relations already in force in Latin America into the Pacific.

He said that the Stimson form- ula proclaiming that the United States would not recognise govern-" ments made by swords, by the em- ployment of force, was still the policy of the United States-Reu- ter

BYRD ARRIVES AT MAIN BASE.

New York, January 19. Admiral Byrd and his Antartic Expedition have arrived at their main base in Little America. He is setting out to discover the con- dition of the camp he left four years ago-Renter.

QUESTION

Another Secret Meeting

SILVER MÄRKET

יו

(From Our Special Correspondent)

London, January 19. Following are the Silver Quota- tions on the London market to day:----

Jan. 19. Jan, 18.

191

19.9/18 Spot Forward

19.13/16 19.9/16 The London on New York crass rates to-day at 2 pm. closed at £US. 85.651.

LONDON STOCKS "FIRM

London, January 19. The Gilt-edged stock market in yesterday. London Anished firm with war loan, 31 per cent, at 1014. South African mines were firm and West Africans very active but finishing under best on proft-tak- ing.

Rubber increased to 4-17/32d.

MORE PEOPLE KILLED

On Roads of Great enlistment of

Britain

London, January 19,

458 more people were killed on the roads of Great Britain in 1933 than in 1932. The preliminarg

At the same time General Chen figures, issued by the Home Office Chi Tang instructs General Tang show that the total number of Lung Kwong, the commander of recorded" accidents Increased by

the Fourth Independent Division 7823, equivalent to 4.3 per cent.,

whose forces are now guarding and the number of fatal accidents the Kwangtung-Fukien border, to by 437, equivalent to 67 per cent proceed to negotiate with the The figures for 1933 were, led commanders of the 19th Route 7,135, injured 216,401, number of Army to join the colours of the accidents 191,629, fatal 6,924.

First Group Army. Newspapers express the view

It is stated that General Tang

should the Ministry of Transport

Lung Kwong take immediate steps

difficult task in his negotiation tighten up the existing regula with the officers of the Nineteenth tions. While the restoration of Route Army since he is one of the the general speed limit is impro fellow-commanders with the lead- Route bable. It is thought that local ing officers of the 19th authorities may be encouraged to impose speed limits in special areas-British Wireless Service."

that

will

¿

to

have no

Cheong Chow, January 19, According to a report issued to- wong led an army of Chiang Kai Shek's troops to attack Sin Yau but they were defeated by the 19th Route Army and the Mow Shum Division Armies.

At noon, Chiang Kai Shera troops could not continue the fight and began to retreat.

Over 3000 of Wai Lap Wongh

the 19th! men were killed, and Route Army captured over 4,800 rites and many beavy guns and machine-guns, D

It was later reported that the 19th. Route Army are stil con- tinuing the pursuit.

REPORTED DEFEAT OF NANKING TROOPS

From "omelal sources. It was stated yesterday that the Head- quarters of the 19th Route Army reported that with the exception of a small body of troops of the 19th Route Army, being used for the purpose of creating trouble in the rear of the enemy's army m Fukien," the whole army have safely passed Nam Ping:

...

General Wai Lap Wong, at thes head of the Nanking, troops led by Lau Wo Ting, Loo Hing Pong and Chiang Fook Sang of the 83rd, Division, attacked the 19th. Raute former. Fourth Army, under the reverse, losing much of their war-

materials and ammunition. army when they were under the Army at Sin Yau, but met with a command of General Li Tsai Sum. It is reported that the success' of

keenly LARGE CONSIGNMENT OF Ls mission His present awaited by the military leaders

ARMS

per pound, and shares rose strong GIGANTIC SHIP here [Special to the "Hong Kong Dallyly on Amsterdam press messages

Press" (Copyright)}

regarding restriction.

..

the

the foreign market, strength of the dollar and the French franc, in terms of sterling.. wa's a notable feature-British Wireless Service..

London, Jan, 18. Representatives of the world rub- ber growers met in London on Thursday to discuss matters of righ Importance to this branch of pro- duction Strictest secrecy is being maintained about the proceed rigs, the Press not being admitted. No LONDON STOCK MARKET comunique was issued but from a reliable source Transocean learns that it was decided that output should be further restricted. Transocean. Kuo Min, ..

AN UNUSUAL STEP

www

PING MERGER

White Star And Cunard Lines

.

NINETEENTH ROUTE ARMY BROKEN UF

וי

(From Our Special Correspondent)

Canton, January 19.20 After a downward trend during the past few days, the exchange rate between the local dollar, ande

Hongkong Dollar Note in

Shanghai, January. 19 Peace and order have been res- tored In Foochow declared Admir- al Chen Shao-kwan, Minister of Navy, on his return to Shangnal the this morning on board his flag-creased from a premium of 37

per $1,000 (Canton Silver) to (22 ship,Ninghai.”

per $1,000. A

Admiral Chen said that the Navy London, January. 19.

The cause of the sudden rise of London, January 19.

Speaking at the inauguration of is "controlling affairs between Foo- The sterling on New York was

the King George V Graving Dock chow and Amoy, twenty warships the Hongkong dollar note is a tributed mainly to the heavy pur quoted at 5.00 and Paris at 79. Gold 132/10 with 10d., premium at Southampton yesterday, Lord being stationed along the coast.

Essendon. Chairman of the White He asserted that the Nineteenth" chasing of Hongkong notes by the over French franc.

Star Line, referred to the agree- Route Army had been roken up. local military authorities to retire Stock markets are quieter.owing

and munitions that were. ment between the Cunard and Part of it was disorganised, pärt a draft for a large shipment of to the end of account.

a foreign Arm, in White Star Lines which now a- had surrendered to the Govern arms British stocks were firm with

walts the conclusion of certain ment troops, and the others had ordered from War Loan 31 per cent. 101 Ger- London, January 18.

coming into either deserted or joined the South. Hongkong some two months ago. It is learned that this shipment He added that the Government The London Cancer pitai has man bonds being better. but formalities before

Gold operation.

aeroplane taken the unusual step of award- French Loans were dull.

He said it was intended that the forces were determined to press of armament consists mostly of mines were less active but the

sound defectaphones and many ing a £100 scholarship to Mrs. Boyland, the 28 year-old daughter rubber market was still active with North Atlantic assets of the two their advance and clean up the anti-aircraft guns.

Admiral Chen Shao-kwan is prof other military equipments. to a new Companies would main- of General Sir Frederick Maurice, the commodity at 4. 9/15d., al- Companies should be transferred remnants in the dat

ceeding to-Nanking this evening aerial defence The cost of

consignment of ammunition fa in recognition of valuable work in though operators display caution

support for tain their separate entities.

He hoped and believed that both to attend the Kuomintang Contimated to be well over HK

200,000, Cancer Research ahe has done and pending further is doing in conjunction with her Amsterdam press reports on the

ampton would benefit from 'these husband, Dr. Eric Boyland-Bri- Restriction Negotiations. British Companies and the Port of South-gress-Reuter,

Wireless Service.

afrangements.-British Wireless tish Wireless.

SCATHING

ATTACKS ON EX-KAISER

Not Essential for Him to

Return to Germany

[Special to the "Hong Kong Dally Press" (Copyright.))

Berlin, January ·9."

to

POST OFFICE RECORD

Service.

KING GEORGE V DOCK OPENED

World's Largest Graving Dock

London, January. 19. The King George V Graving Dock is the largest in the world, 1200 feet long, 135 feet wide, and 59 feet deep from cope to floor.

Chairman

ANOTHER TRAGEDY OF THE SEA

Entire Crew Lost

London, January 19. Ten men, forming: the officers and crew of the London steam- ship Oakford, 679 tons, lost their lives after their vessel had been driven aground by high seas and strong wind in Wednesday night's fierce gale,

L

YOUNG MARSHAL GOING TO NANKING

Banghal, January 19

"A special train is waiting at the North Station to convey Chang Esuel Liang to Nanking th evening to attend the Kuomb

Mr. Wu tang Congress. Chen and Mr.-H. H. Kung accompany him-Reuter

LANDING PARTY

WITHDRAWN It holds 250,000 tons of water and

Lifeboats went to the Oakford's

London, January 19, can accommodate & vessel of 100,-

As the situation in Fochow 000 tons,if one so. huge is ever aid, but could not approach until

next morning. built. That ex-Kaiser Wilhelm has a

"Apparently the men aboard, fear- now normal, the British nava

withdraw The King opened Southampton's chance of ever becoming Kaiser

new dock scheme last, July. Yes-ing that the vessel was breaking landing party, wan again as many erroneously believ

of the up, took to one of the ship'a bosts yesterday. ed since Hitler's assumption

terday the power was made plain by two

Southern Railway, which is respon- during the night. It is assumed RM8. Berwick is expected scathing attacks on Wilhelm by

sible for this great development of that the boat, capsized, for nine leave to-day although H.M8: Wh two prominent National-Socialists.

Chloese Government. troops enter the Port of Southampton stated bodies were yeserday washed Swan will remain for a few days The first comes from, Reichs-

that under every head of their ashore British Wireless Service.

Southampton business at

the Darre, on the occasion of

Southern Railway would show in- first Farmer's Rally writes the

creased: figures for 1933 over the National Bocialist organ" "Land-

London Jarruary. 19.

previous year British Wireless post Twice in German history,

The Postmaster-General Sir Service farmers have been betrayed by German Kaisers, namely, the Kingsley Wood, at Belfast rester- Hohenstaufen's and Hohensall day said he was about to present STERILISATION OF UNFIT

purchases by the Reconstruction IRISH ECONOMIES minister of Agriculture, Walther

Finance Corporation ceased, the amount bought by the Corporation totalled U.S. 8131,674,804 of which U.B. $108.307,850 was bought in London and Farts.

in

Drastic Cuts In Salaries

The attitude of the Federal Reserve Board on the question of taking over the gold was explain-

Dublin, January 19. ed by Mr. Eugene Black, to the Senate Banking-Committee.

Cuts in salaries, ranging from While the Federal Reserve.

give the five to 28 per cent, will be ex Board was willing to Treasury the gold prent from perlenced by several thousand devaluation, he and his collea-Irish Free State officials employed gues were opposed to the Govern- by local authorities, if a projected men's taking of the title to the Government Bill is carried.

Salaries between £200 and £300 Federal Reserve's gold hoardings,

a rear will be reduced by five per because they should remain the banks and continue as the cent. while at the other end of base of the Federal Reserve's cur- the scale 25 per cent will be taken reney credit operations, he said. off salaries exceeding £1,500.

Reater.

Teachers army

onicera and URGENT REQUEST FOE SPEED

civil servants have already had Washington, January 19, their salaries, ent, but the Civie The House of Representatives Guards have been exempted. will consider, Dollar Devaluation Bill to-morrow, The Bill goes to the Senate next week jus

The Treasury Secretary, Mr. Han ry Morgendit, has urgently re- quested

Reuter

ern's.

the

Surplus of Over £11,000,000

Committee Submit Recommendations

ed Foochow on Wednesday, and BRITISH BOXING TITLE -sent a force to follow up 16 retiring:10th Army British Wire less... Mizler Wins On Points

tu ", -

London, January 19 – ENTHRONEMENT OF PU Y Harry Mizler (London) is the new Brifish lightweight boxing champion, eggal

Definite Statement To-mori

Last night at the Albert Hall be

Tokyo, Januar outpointed Johny Cuthbert (Bhet feld), the holder, over 15 roundy The first definite. official Reuter, and

noncement concerning Cuthbert won his title from Ajected elevation of Mr. Henry Foreman in April of last year, and Yi as Emperor of Manchukuo p. to-morrow by the Premier Manchukuo, Mr. Cheng Hiso has been beaten twice on the Con- being made at Changchun at

TWO NEW VESSELS FOR Beute

BOOTH LINE

to Parliament the commercial sc- The second attack, even still, counts of air Department for the stronger, comes from Councillor year ended March leat which of State, Goerlitzer acting region-would show there had been achiley-

London, January 19. al leader of the National Socialed a net surplus, after charging.

Among the principal recommen- tat party. Goerlitzer, who plays interest on capital, of over £11 - # ment, and who is known for not which was a record in the history a prominent part in the move-000,000 over the previous year. mincing matters, referred to an of the British Post Omendations of the report of the depart interjection recently made at the Bir Kingsley remarked that there mental committee on the sterilistinent in recent months, Sport-Palast to the effect that were doubtless many admirable tion of the unfit published last Hitler has achieved something ways in which the surplus could night are that subject to safe- let him get our Kaiser back for be utilised: but from the point of guards, voluntary sterilisation helping trade and business and of I should be legalised in the case of Goerlitzer referring to this re- mitigating unemployment, relief of a person who is mentally defective disorder, a person who suffers frpin mark declared that he does not the burden of general taxation to or who has suxered from mental Fear is believed to be the carrier of think it essential for the Germish which this summ, in effect cont people nor for Wilhelm that, that buted, was no doubt

lount, grave Y gentleman returns to Germany.garded at present Goerlitzer then attacked the ex-importance. Kalser for having written to Servic friends in France and Germany monarchy which would restore

The measure, which will be in troduced in the ball in a few days, will be strongly contested by the Opposition and the Senate to advocate the return of the happine Renter.

Kuo

less has been

sible and a pérson!

bellke

disorder or defee

Jess Service::

Loudong January, 19. Méxars fintanell, Laird and Com- ny-of Bir Berhead are to build

VISCOUNT HALIFAX

Viscoun

disablity, which for the Booth Steamship Company old rath ransmise bwo new cargo steamers of about of Eat

eved 5,000 tons each, the first to be com- Indis

ital pleted by end of this year and the Wire- next by the Spring of 1955 Bri-" daughter

tish Wireless Service,

Wireless:

7