1934-08-30 — Page 9

RENEWED WEAKNESS

OF STERLING

Shock For Foreign Exchange Market

London, August 29. The quietness of the foreign exchange market was rudely shat- tered to-day by sudden renewed weakness of sterling which touch- ed 75.33 francs, a new low record since 1934. The dollar also firmed up in terms of sterling in sym- pathy with the franc.

It seems London was seller of sterling this morning, Paris fol- lowing sult early in the afternoon. and the rate falling sharply, in the absence of official interven- tion. The reasons for selling are very hard to obtain, but it is understood that continental opera- tors believe that sterling will be stabilised around 30 francs to the pound "though London bankers state that any stabilisation rumours are very premature.

INFLATIONARY MOVE "The underlying reason for the weakness being doubts regarding the future trend of the dollar with inevitable repercussions in sterling. It is interesting to note, contrary

GOLD STOCK PROFITS

New York, Aug. 29. Some monetary experts are of the opinion that the use of profit from gold stocks realised through of the dollar for devaluation budgetary purposes, announced, by Mr. Morgenthau in his broadcast address last evening will be in the form of inflation since the pront would be converted into paper money issued for payment of the debt,

Wall Street, however, is reas- sured by the announcement be- cause it declared that the pro- ceed* of gold 'devaluation were under lock and key instead of being poured out immediately and swelling the already swollen re- serves of the banking system where they have a potential credit expansion power of 28,000 millions instead of 2,800 milions which Mr. Morgenthau stated was gold profit

to London and Wall Street, that When the gold profits are Mr. Henry Morgenthau's state- | diverted to revenues undisclosed. ment that gold proft, eventually it is believed soon that world will be used to reduce the national recovery will be assured оп а debt is interpreted as an infla- normally stable international cur- tionary move by the continent.- rency. Heuter.

Beuter.

BRITISH TRADE MISSION

To Japan And Manchukuo

London, Aug. 29.

EXPLOSION OF OIL TANKS

Further Incidents In Campana

Buenos Aires, Aug. 29.

Three have died as the résult of inquiries received in the cala- mitous pétrol reservoir explosion, the fire caused by which is still blazing furiously.

The British Industries Mission

A message tromi Campana states sailed for the Far East to-day via

that 14 more of tanks have ex- San Francisco." After completing ploded, again panicking the popu- investigations in Japan, the Mis-lation. sion is proceding to Manchukuo.

Sir Charles Seligman, head of the Mission, said "Our mäin object is to explore the possibilities of future trade relations with Japan, particularly Manchukuo, where there is undoubtedly great scope for expansion of British trade. We do not want to under-rate the dif- ficulties, but we are very hopeful of overcoming them."

Sir Charles emphasised that the Mission was quite unofficial, al- though it was expected to have the assistance of the Japanese au- thorities. The Mission will be away for three months. --Reuter..

The following are the members

of the Mission:--

a

Lord Barnby,

Director of Lloyds Bank and the Central Electricity Board.

Bir Charles Seligman, the well- known banker and member of the Advisory Committee of the Ex- ports Credits Department of the Board of Trade.

Mr. Guy Harold Locock, the British Industries Fair expert and

a Director of the F. B.I., and

The whole town of Campana is still menaced; already there is one section of the town which has been completely burned out. with scarcely a house over a wide area undamaged. The damage already exceeds £750,000

The special fire-fighting train

which was despatched from Bue- nos Aires is riow engaged in A terrific battle to try and save the town from total destruction.— Reuter,

SALVATION ARMY

Voting for New Leader

HONG KONG DAILY PRESS, THURSDAY, AUGUST 30, 1934.

AUSTRIA'S NEW HOLIDAY ROMANCE OF

CHANCELLOR

།

Some Facts About His Life

Baron Kurt von Schuschnigg comes from the class which the Austrians call Bauernadel--amali farmers of good family rooted in the soil for centuries.

He is a Tyrolese, the son of a general, and was born on the shores of Lake Garda in the South Tyrol, which now belongs to Italy. He is a lawyer by profession, but fought with distinction in the war and was taken prisoner by the Italians.

A recent photograph of Dr. Schuschnigr

Dr. Schuschnigg has many solid qualities which made him one of the men on whom Dr. Dollfuss relled most securely, though be lacks the personal charm of his late leader, and is no great oratori

He is short-sighted. of middle | height, with" the dark hair of the typical Tyrolese. "Grave, and at times almost forbidding in man- nér, he is a deeply religious Catholic brought up by the Jesuits.

SILVER MARKET

From Our Own Correspondent,›

London, August 29. London Silver prices to-day were unchanged, as follow:-

Spot

Aug. 28 .21-9/18.

11.

PRINCE GEORGE

Betrothal To Princess Marina Announced

„London, Aug, 28. A Court Circular isssued to-night announces that R.H. Prince George, the youngest son of Their Majesties the King and Queen has been betrothed to Princess Marina, the third daughter of Prince Ni- cholas of Greece,

"

The official

"announcement, which was made from Balmoral Csalle, where the King and Queen are staying says;

It is with the greatest pleasure that the King and Queen an- nounce the betrothal of their dear- ly beloved son Prince George, to Princess Marina, the daughter of Prince and Princess Nicholas of Greece, to which union the King has gladly given his consent," Reuter.

H

A GREAT SURPRISE

London, Aug, 28, It is understood that Prince George's engagement, which came as a great surprise, is the culmina tion of a holiday romance. Prince "George is "spending a holiday m

Yugoslavia as the guest of Prince and Princess Pani of Yugoslavia...

Princess Marina the youngest sister of Princess Paul, is 'also staying there.

Prince George, who Brat met Princess Marina five years ago. when the Princess was privately

visiting Britain, left England by air on August 15 and began his holiday at Prince Paul's summer residence at Bobinsko Lake, in the Slovenian Alps.

KING'S CONSENT "After Frincess Maria accepted Prince George's proposal, the

LESS NOISE IN

LONDON

Traffic Campaign Success

**London, Aug. 23,

Prince wired to Balmoral · Castle to ask the King's consent.

Princess Marina, whose parents: have also given consent, was borg on November 30, 1908, ad is the youngest of the three daughters of Prince" Nicholas of Greece.

Printe George is remaining in Yugoslavia for a week or ten days longer. It is authoritatively stated that his future plans are not yet settled.

No plans have yet been made regarding the marriage which it is assumed, will occur in England. Keuter."

BRITAIN HAPPY `

Londoh, Aug. 29. Princess Marina, betrothed of Frince George, is assured of an affectionate welcome in Britain, where the announcement of the

Clicquet

Neuve

DODWELL & CO., LTD.

Tel. 20686.

Sole Agents.

engagement has been greeted by JAPANESE LAMP

universal felicitation.

The public attitude is epitomised by "The Timer" which says: "By character, personality and train- ing, the Prince has amply earned the congratulations and good wish- es of millions of his father's sub- jects, while Princess Marina is al- ready known here for her grace and charm. It is an easy prophecy that she will quickly who the hearts of all British people."

-The Princess Marina speaks English very fluently. Reuter:

IMPORTS

New Duty Threat In Britain

j

Queen's Building.

PLESS ESTATES IN POLAND

Further Seizures

[Special to the "Hong Kong Daf

Press" (Copyright.}} ?

Warsaw, Aug

London, Aug 28. ⠀

The huge estate and various The Board of Trade has an- tories and mines of the Germ nounced that a report from the Prince of Pless were seized Import Dulles Advisory Committee Tuesday by the Government dated 4th October. 1933, recom-celvers at the order of the Bl Prince George, who is a Lieuten-mending increased duties on elec- Attorney's office in the city of Ka ant in the Royal Navy is the tric lamps is being published to-towicz in a summary action youngest son of His Majesty the morrow.

collection of overdue taxation, King. He was born on December

Increased Imports of these The fact that Pless appealed 20, 1802, and is thus four years goods in recent years have come the League of Nations some tim

mainly from Japan and since ago was ignored. The Prince. this: report was received, His been given fourteen days time Majesty's Government, after con-payment, the disputed tax sur dom electric lamp manufacturers zloty. Falling compliance, the PC have discussed with the repre- lish Government will auction the sentatives of the Japanese Goy-

property now seized. ernment the question of restrict-

The ing the imports of electric lamps from that country.

older than Princess Marina.

JAPAN'S NAVAL sultation with the United King- amounted to nearly eleven mille

POLICY

Statement At Next Discussion

Pless would neither pay his

court order asserts

As a result of these discussions, de taxes forthwith nor agree it has now been decided not to any arrangements about the set give effect for the present to the tlement of the claime by deferre recommendation of the Import instalment payments. The who Tokyo, Aug. 29..

Duties Advisory Committee, pro-question of the lengthy and TAT Declaring that the Navy foreign vided that the imports of electric sled tax dispute between Fris Reports from all sources reach-ministers were in complete agree-lamps from Japan during the Pless and Polish Government Aug. 29 ed the Transport Ministry to-day ment with the Naval Conference year commencing April 1, 1934 scheduled to come up for fall 21-9/18 regarding the first experience of polley, a Tokyo Foreign Ofice Forward21-9/16

21-9/15 the Silence Zone in London which spokesman announced that at the do not exceed certain specified cussion at an assembly of the gue of Nations in Septem London on New York cross rate became effective last night.

October talks Japan will make British Wireless.

Transocean, Kuo Min. at 2.00 p.m. -day was 5.05–11/18

These reports are a favourable certain proposals in accordance compared with 5.05-3/4 at closing that there is little doubt that the with the spirit of disarmament.” yesterday.

order will become permanent, par He expected that other. Powers ticularly as according to many will likewise submit schemes re- observers, the experiment had led placing the ratios, and added that to the exercise of greater caution | the abrogation of the Washington by drivers.

Treaty will depend on the out- of the talks, at the Name

FINANCES OF BRITAIN

Increased Income Tax Receipts

London, Aug. 28. Exchequer returns issued to-day

Mr. Julian Piggott," Tokyo-born

London, Aug. 28, show that the total ordinary re- manager of the British Steel Ex- The High Council of Salvation venue collected last week amount- port Association, who is represent-Army, comprising 47 men anded to £10,411,267 and the ordinary ing the

women holding high office in the expenditure incurred was £6,545,- movement in various parts of the 950. Federation.

world, met to-day in London to appoint a successor to General Higgins when he retires from the leadership on November 1st.

British Tran and Steel

GRIERSON GETS THROUGH

Dangerous Hop Concluded

Ottawa, Aug. 23. The British-airman Grierson has concluded the dangerous hop from Greenland to Hudson Bay when he landed at Kovuntikuk. He has thus completed his flight from Britain to Canada by the northern

IOUte.

Heuter,

CER.. TRAIN WRECK ALLEGATIONS

Instigated By General Blutcher

Harbin, Aug, 29. The Harbin Times" in a sex- sational announcement alleges that Chinese Easterni Hallway em ployees have made, statements to the police that trains were wrecked in accordance with instructions from General Blucher at Khar- barovsk

The meeting was held in private and the voting will be by ballot

Those taking part in the gather ing include Commander Evange line Booth, daughter of the Foun-

der of the movement and Cather Ine Booth, daughter of the late General Bramwell Booth..

It is understood that both are among the fifteen who have been nominated for the Generalship.

The result will not be known until to-morrow afternoon at the earbest.

The Duke of York will preside at a farewell meeting to General Higgins at the Albert Hall on November 1st- British Wirele

GANGES FLOOD WATERS RECEDE

Ranchi, Aug 28.

As compared with last year, re- ceipts into the Treasury are being well maintained.

Inland revenue for the current financial year up to August 25 amounted to £92,823,000. At the Corresponding date of last year the total was £89,728,000.

The Transport Minister, Mr. L Hore-Belisha is highly gratified time indicating that the Japanese with the result of the experiment Navy has waived the demand for and issued a statement this after-immediate abrogation.— noon as follows:-

"Thank you, London,

Reuter.

Thank

you, motorists” and pedestrians, in

equal measure for your splendid FOREIGNERS IN

co-operation last night Lef us continue as we have begun!"

·British Wireless,

HONOUR CROSS FÖR LATE PRESIDENT.

GERMANY

Nine Men Still In Custody

Berlin, Aug. 20. It has just been disclosed that

four Britons, two. Frenchmen, and three Spaniards who were arrested on Saturday, have not been releas- ed.

Berlin, Aug. 28. The Arst of the new "Crosses "of Honour to be awarded to all Ger- man partie pants in the Great War as well as wickws and parents of those who gave their lives, has been presented the late Presidens von Hindenburg who himself con- ceived the "des of the new decors- They reached Berlin after-at- Income tax receipts representation and instituted this mark oftending an anti-war and anti-Fas- large item in this figure and recognition just prior to his death. cist Congress at Madrid to visit They were amount to £44,208,000. This is an The special honour cross for the labour camps. increase |0£) £6,580,000 on last front fighters, was placed on the bathing at Wansee, near Berlin. year's figure.

cushion, bearing all medals and when arrested.

Houter. decorations of the deceased Field Marshal, lying beside the casket at Tannenberg crypt- Transocean Kuo Min.

Receipts from estate duties to date at £35,040,000 are; however, over £3,000,000 lower than at the corresponding date last year.

Customs and Excise receipts which during the current financial year have so far yielded £115,989,-.. 000 are over two million pounds more than at the corresponding date of 1933...

-re-

JEWS IN LITHUANIA

A VICTIM OF THE NAZI REVOLT

Duesterberg's Statement.

After Release

Korno, Aug. 28. The commandant of the town,

Paris, Aug. 29. Excluding self-balancing

Schaulen, has suppressed all Jewish Colonel Duesterberg, the Steel venue, the total ordinary revenue organisations within the district Helmet force leader and candfate from all sources for the period under his jurisdiction, this mes- for the, last German Presidential April 1 to August 25 of the cur- sure being declared to be the out-election, who was reported to be rent year amounts to £228,410,413 come of repeated skirmishes be among the victims of the Nazi as compared with a figure of | tween Jew'ah⠀⠀⠀ and Lithuanian clean-up on June 30, is discovered £232,205,529 @ received into the youth organisations. The Lithua- by the Berlin correspondent of Exchequer in the coresponding nians assert that these quarrels E'Intransigeant to have served period of 1633.-

oked by the Jews and a month's imprisonment;/

epressive measures He has now been Ubersted and shortly, since trouble, told the correspondent; “I was rom all parts of not one of those shot, but I am

now agiving.com

- Aerial reconnaissances in Bibar and Orissa have revealed that the food waters of the Ganges are re- The total ordinary, expenditure ceding rapidly almost everywhere: to date is £271,093,234. . The cou-

** Rescue and relief operations are | parative figure last year was continuing

Reuter

£288,978.168 British Wirelda."

Heuter

totals

to a

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