1935-04-09 — Page 9

UNCERTAINTY OF GOLD CURRENCY

|

Bank Heads Consider The

Situation

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

Basle, April 7.

In view of the agitated state of currencies" in the last ten geta days keen interest is attached to the meeting of the Bank for International Settlements held here "OR Sunday when the governors and presidents of note-issuing banks of gold bloc countries met to discuss the situation. Dr. Trip represented the Dutch National Bank; Professor. Bachmann, - the Swiss National Bank: Governor Tennery, the Banque de France; Doctor Frank, the Belgian Nation- ai Bank.

An exhaustive discussion of the situation arising out of the Belga devalorisation, sharp attacks on the Dutch Gulden, pessimistic out- look. prevailing on: the Swiss bourses since Saturday Week-when the Belga depreciation took place. General relief is felt at the state-.: ment made by Dz, Trip that the at- tacks on the Dutch gulden were re- pulsed without the National Bank of Holland having parted with an excessive part of gold Cover. Satisfaction

also expressed when Tannery declared emphati- cally that the Banque de France is determined" to defend the French franc. A similar statement was made by the Governor of the Swiss National-Bank- Transocean Kuo Min.

Wis

TO DEFEND THE FRANC

Berne. April 7. The depreciation of the belga and the recent attacks on the guilder were considered to-day at a meeting of the Governor and Presidents of the banks of the Gold Bloc countries to-day.

The Governor of the Netherlands Bank announced that the attacks against the gallder had been beat- en off successfully, although the National Bank had been reduced.

The Governor of the Bank of France re-emphasised the firm in-. tention of France to defend the franc. despite the breach made in the ranks of the Gold Bloc coun tries. Iteuter.

MOVEMENT OF GOLD. [Special to the "Hong Kong Dally Press" (Copyright).]

Brussels, April 7.

tries, is now returning, of course not depreciated, so that those persons who withdrew the capital In order to profit by the catas- trophe and thus hastened" the de- valorisation itself. are now reap- ing the rewards of their man- oeuvre.

Over 100 millions Belgian franes in gold reached Brussels during the week-end chiefly by air so that the papers speak facetionsly about the "ight inte Belgian currency. This strong reflux of Belgian capital is one of the chief' causes contributing to the pre- vailing unsteadiness of other gold currencies, above all, the Dutch gulden and Swiss franc, causing their capacity to anxiety about weather the storm- Transocean Kuo Min.

DUTCH AND SWISS DEVALUATION

Only A Question

Of Time

London, April 8. Vigorous defence of the guilder by the Dutch authorities stamped- ed "bears" to covering, causing a sharp rally of guilders and Swiss francs. Nevertheless the city be- lieves the devaluation of Holland. and Switzerland is inevitable and Is only a question of time as both currencies

vulnerable are very owing to the depressing economic situation.

In the event of the guilder be- ing devalued, what will happen to rubber? It is generally expected that the Government will utilise the opportunity "to impose a re- venue export duty in the Nether- lands Indies. The market is at present nervous of the native. altuation. It is pointed out that devaluation will increase the price for natives and therefore lead to a-heavy increase in native pro- duction. The market belleves it is essential that the authorities in- crease the present export duty by a degree possible with devaluation and it is stressed that such action must immediately follow devaluá-„ tion.

The guilder only has a tempor- ary influence on rubber which is The devalorisation of the Belga | really dependent on American con- currency now having been, techni- | sumption in the summer and

cally Recomplished and the Bel- glan franc being stabilised de facto at a new level, the Belgian capital which had temporarily left the country, ten, days ago, seeking refuge in gold block coun-

BOOKS SOLD IN SHANGHAI

Question Raised In Commons

autumn, which in turn is linked up with a degree of recovery likely to result from the gigantic expendi- tures envisaged by the States Relief Bul Heuter.

. (1

United

MR. EDEN ORDERED TO REST

ال

Mr. Edea WAS.

HONG KONG DAILY PRESS, TUESDAY, APRIL 9, 1935.

SEVENTY YEARS OLD TO-DAY

Famous General Of The Great War

CONQUEST OF THE AIR BY MAIL PLANES

Twenty Five Years Of Steady Progress

4

lately has been a continued in- crease in the quantity of wireless valves consigned by air. For de- licate articles like these the ad-

More than 2,500,000 miles were flown by the air-immers of Imperial Airways during 1934. This figure, which has just become available, compares with approximately | vantages of air transport, with its 3.300.000 miles for 1933.

absence of jolting or vibration, are

The progress of air transport is so great that the bulk of such goods illustrated, strikingly, if one con- are now being sent by air, the valves trasts the statistics of our present-requiring no special, packing, but day air-malis with those of the travelling quite safely in. ordinary first officially sanctioned aeroplane cardboard containers. mail to be flown in England, the "The same applies to electrical twenty-Afth anniversary of which appliances, scientific instruments. is to be celebrated this summer. and tragile goods of all kinds That pioneer Eendon-Windsor Handling is reduced to a minimu service of 1911 operated over a dis- and though speed naturally costs Bertin, April 8-Chancellor Hitler tance of only 20 miles, compared money in the air, as on land and has issued an order that an April with the 20,000 miles of route down sea, consignors by our services reap 9, the 70th birthday of General associated companies at the pre- from the fact that insurance rates over bý Imperial Airways and its

considerable advantage Ludendorff, famous German lead-sent time. The 'planes in use on for goods by air are, generally er of the Great War, all public that arst service were driven by speaking, only

about one-third buildings throughout Germany single-engines of 50 hp, and had those for surface transport; while are to display flag-Transocean

...a wing-span of not more than 28 or { backing costs are also reduced. Kuo-Min.

30 feet. To-day our big mall- "The big air-liners in use to- planes are driven by four engines day, and the roomy cargo-spaces developing a total of more than ( now avaliable, enable freight con- 2,000 h.pl, and have a wing-span {signments of a size and weight to of 130 feet.

be dealt with which it would have, been impossible to handle not so long ago.

SILVER MARKET

W

(From Our Own Correspondent)

London. "April 8. London Silver prices to-day-were unchanged for "Spot" and 1/16 up for forward, as follow:-

April 6 April 8 Spot 28-7/18 28-7/16 Forward......... 28-1/2 28-9/10 London on New York cross rate

at 2 p.m. to-day was 48312.com- pared with 4.8487 at closing on Saturday.

MOTOR RACE TRAGEDY

Car Dashes Into Crowd

1.

very

Climat

Neuve

DODWELL & CO., LTD.

Tel. 20686.

Sple Agents.

ALARM REPORTS

DENIED

Alleged Crash Of Airship

As for a comparison of the loads carried by air then and now, the monoplane which actually in- One the route to Germany, for augurated the Hendon-Windsor air example, a piece of machinery. mail of 1911 carried just its pliot, weighing over half-a-ton was air- Mr. Gustav Hamel, and a bag of borne recently; while not long ago letters weighing 234 lbs, whereas one of our Paris planea had among. one of our big 4-motored air-liners | its cargo a small"motor-car Motor- of to-day will lift into the air a cycles, urgently required on the useful load of just over three tons. continent, are often dispatched by

air; as are spare parts of all kinda graphic Massager Ordinance, for motor-cars-these last mention-Received, April 8; 7.30 p.m.) ed not only going over to the con-

ASPECT OF SPEED

RECORD MAJ LOADS "Should they prove too bulky for dispatch as a single malt, mechani-

(Special to "Hong Kong

—Daily-Fress").-----.

(By Telegraph, Copyright, - Tele-

A

Queen's Building.

THE ITALIAN GESTURE

Allowing Bigger Armies

Rome, 'April. 7. -significant hint that Haly would strongly recommend' allow- 1804|ing Austria, Hungary and Bulgaria. bigger armies, was made in the semi-cmcfal journal Popolo d'Italia, to-day,

Berlin, April 8.

As for the vital aspect of speed, whereas those first mall-carrying

planes flew at from 40 to 50 miles- | tinent, but being dispatched for Reports that have appeared in an-hour, we have 4-engined air-thousands of miles along our Em-several European countries to the craft at the present time which, pre routes.

effect that the airship Graf even when carrying considerable

Zeppelin sent out S.O.S. calls and mail-loads, can attain a speed of

crashed into the ocean are cate. 175 miles-an-hour.

sorically denied here. The ab- surdity of one report was shown by a further assertion that Gen- eral Goering and his fiancee. Emmy Sonnemann, were on board and victims of the alleged acci- dent

A study of the latest air trafficcal parts can as a rule be divided figures show an increase of mare up into several separate consign than 20 per cent, recently. in ments for air transit. In this way freight dispatched by air from Lon- such things as urgently required don to the continent. And this drilling machinery, pump-fittings, augments the general story of pro- I and engine parts are carried by our gress, ás revealed by current statis, į services to points along the Africa ties for passengers and malls. and India routes, saving many Three of the main air routes to days, and often weeks, as compared (Special to the "Hong Kong

the continent-London-Paris, Lon- with surface transport”. Daily Press"}

don-Brussels and London-Germany (Telegraph, Copyright, Tel-are all showing a substantial air-

Urdinance. prophic Messager

1894 freight growth as compared with Received, April 8, 7:30 p.m.)

Paris, April 8. Eight persons were killed in a terrible motor accident in the town of Chateau-Thierry on Sunday afternoon according to the latest reports which add that of the 18 injured now lying in hospital six are in imminent danger.

previous figures.

DELICATE CARGO

"On our line to Paris,” said an Imperial Airways official, "we have beer having exceptionally large consignments of wireless appara- tus, recently, while on the service to Brussels a trazic feature, just

THE DUTCH AIR

DISASTER

Popular Pilots And Crew Killed

[Special to the "Hong Kong Daily Press" (Copyright).3

|

Actually the airship, which start- ed from Friedrichscshfen to South America or Saturday is in con-

In addition to freight progress,stant radio communication with passenger and mall traffic, by air continues to Increase substantially. During the past twelve months,

more than 50,000 travellers few in and out of Croyden 'in the air- craft of Imperial Airways; while the mail-loads sent by air from this country during 1934 were by far the largest ever recorded, totalling ap- proximately 6,000,000 letters.

ONLY SIXTY PER CENT

Nazi Gains At Danzig

Danzig, April 9. The Nazis won 44 seats or 80 per cent, of the seats in Parlia

Hamburg, giving the last position the report from Cappalos on General Goering at the time of the Spanish coast on Sunday noon.

ป

alleged accident was on a tour of inspection..

Another

London of an alleged attempt on Dr. Goebbels life in Danzig is also

report published in

-categorically denied and it is pointed out that Dr. Goebbels ar rived safe and well at Berlin aero- drome at II o'clock yesterday even ing.

Transocean Kuo Min.

INDIA BILL AT HOUSE OF 'COMMONS

London. April 8. Every effort is being made by the Government to effect the passage "of the Government of

J*

'In discussing the armament level of these countries the paper says that to allow a strong state like Germany to re-arm by unilateral denunciation of the Treaty of Ver- sales, while denying the rights of weaker states, will be an offence against every principle of interna- tional equity- Reuter.

JAPANESE OFFICIALS IN CONFERENCE

To Discuss Measures To Curb Boycott

Shanghai, April 8. three-day conference of

Japanese Consular oficials in

China opened this morning at the t Japanese Consulate General, The discussion of agenda includes measures to curb the boycotú and other anti-Japanese activities- Beuter,

SINO-JAPANESE TRADE, NEGOTIATIONS

London, Anal 5% Replying to Captain Peter Mac- donald in the House of Commons

The driver of the wrecked car, an Italian named Cattaneo, who himself escaped unhurt, would not appear to bear the main respon- sibility for the accident which was generally attributed to faulty management by the race Com- London, April 8 mittee. The latter is alleged to

have have imposed, conditions to

which attended the Cabinet meet- were impossible for the competi- ing to-day, but owing to tors to full along the .open. exhaustion following his strenuous stretch. Cars were obliged to tour he has been compelled to make "a standing start" and pull rest. This decision WES reached up abruptly at 100 metres before

Amsterdam, April 7. yesterday afternoon when he con.

the finish while travelling et a sulted his medical adviser and speed of about 150 kilometres per

Profound regret is felt here at the distressing news of the de- i ment which is only an increase of our sittings are being reserve the reported Bino-Japanese trade In the House of Commons to-specialist following which abül- hour.

struction of the Dutch civil ait four and less than the two-thirds for the consideration of the Bill day, Sir J. B. Wardlaw-Milne drewletin was issued "Eden" is suffering Cattaneo, having shot the 100-plane Leeuwerik" on the Halle majority required for making con- in Committee this week Next attention to the unauthorised sale

from heart strain as the result of metre' mark, applied the brakes Leipzig Essen run, as reported by stitutional reforms Danj of British educational books In his rebent, rough air journey.with such force that the car skid-

week the Commons will be Gam Transocean on Saturday. Part Shanghai at low prices and that There is no cause for anxiety but ded violently, rotated several times cular distress is felt at the aero-12 seats; Communists 2, Centre 9, Budget and the India Bill will not The Socialist-Democrats secured |gaged on the opening stage of the consequently the firms importing complete rest. 15 essential for from and then dashed into the dense drome in Schipal where the pilots German Nationals 3. Poies 2. the same books

This morning crowd of onlookers- from England four to six weeks”

and crew were all well-known it was reported that Eden's condi-Transocean Kun Min.

personally and were all very po- Dr. Rauschning, Nazi President after the Easter recess when there tion was about the same. He is

pular, being held in the highest Danzig from July 1933 till he will still remain nine of thirty remaining in bed.

esteem for their long and success-resigned in 1934, has fed from the days allotted for the Committee ful service on other important city presumably to Poland. It is stage of messure. passenger lines.

understood that the Nazis hold him British Wirelett.

London, April 8.

were prejudiced He urged repre- sentations to China and suggested the destrabilty of signing the Berne Copyright Convention.

Sir John Simon admitted the facts and said that in 1931 the Government drew the attention of the Chinese-Government to the - desirability

of improving

Sympathy with him in his in- disposition is widespread. The Prime Minister, who visited him yesterday, issued a statement last night that he is "distressed beyond measure · both the

on personal and public grounds to hear of Eden's

LABOUR POSITION IN BRITAIN

London, April 8, It is understood that a further

The management of the Dutch Airways, annotmices that the num-. ber killed was six and not four as: at first supposed. The crew con sisted of four, namely, two pilots

operator van der Klein, and the mechanic Welmis. The two pas sengers killed were the son of the Mayor of Amsterdam de Vlugt, and Briel, a member of the board

a traitor to the parts, Dr. Goebbels declared in his speech on Saturday that the Nazis need not pay attention to a man like Rauschning who has already "com

Beuter.

before Whitsuntide.

India Bill through the House of to-day, Bir John Bimson said that Commons

he has no information regarding

negotiations

again be before the House until

CHINA PURCHASES FREIGHT CARS

Reuter.

FOURTEEN KILLED

Mississippi, Apr. E Fourteen people were killed andi

a hundred injured as a remile, of a tornado which struck the town' of McComb Three others were killed in stories which broke out In other parts of the South while ten persons were reported to be drowned when a logging bost cap.. sized on Lake Providence, Lotu The Chinese Government Pursians?.. chasing Commission is ordering Reuter from British Arous one hundred covered and a hundred uncovered Dands, Apr. 1. freight cars all of forty tons all-

Copyright Law and acceding tomness" Messages wishing him a increase in the number of persons Boer and Prillewitz, the wireless mitted moral sultide" uns the International Copyright Con-ift and complete recovery were at work and a decrease in the vention. The Foreign Secretary promised to consider the position received on behalf of many of the total of unemployed will be re

his recent series of visits.- new acquaintances made during realed when the March statistics are issued by the Labour Ministry British Wireless:

to-night

with a view to further representa tions if they seemed useful.

Bir Wardlaw-Milne' remarked that these books were photograph. ed and sold at something about one-third the price, which was a great hardship, Beuter.

WILLIAM WORDSWORTH

ANNIVERSARY

London, April 8..

On the occasion of the anniver- sary yesterday of the birth in 1770 of Willam Wordsworth, the songs

CHINESE ART ON DISPLAY of thrushes and blackbirds outside

British Wireless.

ANGLO-ITALIAN TRADE

NAZIS FAIL

of directors of the Dutch-German show that while the Nazis failed chinery to the value of £115,000

The provisional final figures steel and also a quantity of ma NEW SWIMMING RECORD rayon concern “Aku” E

The disaster occurred on the secure a two-thirds majority in for the Canton Hackow Railway

new Amsterdam-Prague Hind, only installed a few days ago Transocean Kuo Min.

WHITE STAR LINE WINDING UP

London, A. 8.

aggregate Tote by about thirty the Diet, they Have Increased their Reuter.

thousand, as compared to the 1933 election.

About two hundred and forty- EXHIBITION OF MODERN

seven thousand votes were re- corded of which the Nazis obtain- ed 148 thousand or just over sixty

London, April 8 Dove Cottage, Grasmere, Westmor- Sir Frederick Leith Ross, Chair- Shanghai, April 8. land, where he lived for many man of the British delegation in The exhibition of Chinese art. years, were broadcast to the United Rome which is enraged on negalia- consisting of treasures to be shown states and Canada. The bells of thors for an Anglo-Italian Trade at Barlington House in London, Baint Oswald's Church Grasmere, Agreement, has had several con-Compulsary winding up of the opened this morning at the form- | In which Wordsworth worshipped versations with representatives of White Star Line, Limited er premises of the Bank of China - and in whose churchyard he Les the Italian Government. These ex- dered by the Chan

Divizion 8.751

per cent, while the rest was made up as follows Bocialista

Gezi

CHINESE LIN

Dane Lowers Breast Stroke

and will close on May 1

Kester

buried were also heard,

British, Wireless

changes are continuing

British Wirden.

to-day

Beuser

Reuter