1935-05-30 — Page 9

HONG KONG DAILY PRESS, THURSDAY, MAY 30, 1935.

DEPARTMENT OF JUSTICE TO FIND

A NEW FORMULA

To Prolong The Benefits Of

The N.R.A.

WORKERS DEMAND CODE HOURS AND WAGES

Washington, May 29.

The Administration is absolutely determined to maintain the national reforma and improved standards for workers achieved under the National Recovery Administration Act.

The workers also demand continuation of NRA hours and wages under threats of strike. Many industrial leaders have an- nounced that the 'N.R.A. hours and wages will not be changed, but retail prices of books, drugs and cigarettes have been drasti- . cally ent in a number of towns, especially New York and Boston, and wholesale buying is almost at a standstill in many cases,

It is understood that President Roosevelt has instructed the Department of Justice to do its utmost to find a new formula whereby the benefits of the NRA. can be prolonged "constitu- Lionally-Reuter,

Washington, May 28.

A complete re-study of all the big administration measures. cluding the Agricultural Adjust- ment Act and the amendments to the Utilities Holding Company B1 and the Social Security Bill, to de- termine their constitionality. in the light of the Supreme Court's decision, has been ordered by the Congressional chiefs, while the De- mocratic leaders have decided to. mark time,

President Roosevelt and his aa- visers are seriously taking stock of the situation, but it is generally agreed that, there is no prospect of immediate action. The politi.

cal leaders pointed out that the powers of the President to make cudes being held

to be

uncon- stitutional would make impossible the task for Congress to enact Jegt- lation providing codes in each in- dustry.

The National Labour Board and the Relations Board have virtually suspended operations pending the determination of future policy. The leaders of the Senate and the House öf Représentatives con- ferred with Mr. Henry C. Wallace, United States Secretary for Agri- culture, and decided on the com- plete re-writing of the Agricultural Adjustment Administration amend- ments in order to conform with the Supreme Court decision.

STRIKE HINTS Federation of Labour officials met to map out policy and hiat- ed darkly at strikes. Meanwhile President Roosevelt remained mute, but It was stated

at the White House that when the Pre-

ACCEPTANCES

FOR DERBY

Fox To Ride The Favourite

London, May 29. The following are the final ac- ceptances with probable jockeys for the Derby, to be run on June $: Field Trial

(Dick) Plymouth Sound (No Jockey) Japetus

(No jockey) (Weston)

Robin Goodfellow

Peaceful Walter

St. Botolph

Fair Haven First Son Screamer Assignation Sen Bequest

Theft

Bahram

Hairan

Fair Bairn

(No Jockey) (No jockey) (Perryman) (Jones)

(A. Wragg)

(Steve Donoghue)

(E. Smith) (H. Wragg)

sident has completed, his survey he will speak out, probably later in the week."

IMPENDING POLITICAL

CRISIS

Sensational Rumours In Chamber Lobbies

(Special to the "Hong Kong Daily Press">

(By Telegrapa, Copyngal, Tale graphic Matangas Urainance, J894 Received, May 29, 7:30 p.n

Paris, May 29. Sensational rumours of in im- pending political crisis spread like wild fire late, on Tuesday night through the Chamber lobbies where reports that the right wing fighting

Gen. Hugh Johnson, former head of the NRA which is now declar-organisations under the leadership ed to be legally without authority. of General Weygand and the form- er Prefect of Police, Chiappe would be placed in a state of alarm on

really asking for while the 80- cialists, Neo-Socialists and Com- munists are opposed to granting plenary powers, and the Centre is uncertain.-- Kleuter.

Left

MENACE TO SECURITY OF THE FRANC

French Bill To Meet The Crisis

LONDON SILVER Wednesday and that the Marxist Special to the "Hong Kong Daily

OPINION

N.R.A. Bombashell

London. May 29. Financiers here are of the opinion that the N.RA, bombshell is not likely to have a permanent effect on silver.

As the conferences proceeded all day long it became clear that New Deal officialdom refused to allow itself to be panicked.

but was obviously determined to and a new way for the objects em- America has not bought silver bodied in the row defunct NR.A for at least three weeks, while the The Impression the Whitefranc crisis places her under an House was that President Roose- obligation to buy gold, velt was determined to

at

re-

establish some legal way for the principles of collective bargaining. minimum

wages and maxinuma hours, as well as the abolition of child labour. -

PRICE-CUTTING REPORTS Following the "Supreme Court's

dustrial code, reports of price- decision invalidating the N.R.A. 'in- cutting began to arrive at Wash- Ington from all parts of the coun- try. The leaders of the adminis- tration are seriously considering a plan to establish a voluntary code structure limited to wages, hours of labour, and the abolition" of child labour. Mr. Harper Sibrey, President of the Chamber of Com- merce, appealed to business men to uphold the wages arid hours agreements of the code.

President Roosevelt comferred until late yesterday afternoon with Senators Harrison and Doughton, the Chairmen respectively of the 'Finance and the Ways and Means Committees, which handled the N.R.A. legislations, in the effort to salvage from the wreckage the fundamental principles of the NRA- Reuter,

SUPPRESSION OF OPIUM

New Legislation In China

Owing to this cause the present tendency to weakness in silver 15 regarded as a normal phase.

The market is essentially specu- lative and responsive

every rumour that goes about.- Reuter.

#

to

Common Front" would likewise mobilise its adherents was circulat- ⚫ed freely.

SILVER MARKET

(From Dar Dwn Correspondent)

London, May 29. Landon silver prices to-day were down 3/4 as follow:-

May 29 May 28 .33-11/18 32-15/16 33-15-18 33-3/18

Spot........ Forward London on New York cross rate at 2 p.m. to-day was £9425.com. pared with 49487 at closing yes- terday.

REACTION IN MARKET

Nervousness Over French Crisis

London, May 29. Continued and extreme nervous- ness regarding the outcome of the French monetary crisis was re-, flected to-day by further acute weakness in "forward" francs. The

According to other reports, M. Flandin, in view of the hostility of the majority in the Chamber and his own unsatisfactory state of health, is intending to tender his resignation while others again attribute a similar intention on the part of the Finance Minister, German-Martin, whose declarations of Tuesday the unanimous opinion or the Press met with an extremely cool reception.

In

Press (Capyright).]

Paris, May 28. The draft of the law introduced by the Finance Minister, Germain- Martin in the Chamber on Tues- day consists of a single article with the following text: "the Senate and Chamber deputlea transfer authority to the Govern ment till December 31, 1935, to effecting take, all appropriate measures for the reorganisation of public finances and the revival of Industrial activity, the defence of public credit and the maintenance Meanwhile Marxist groups in the Chamber, which are strongly opend, issued by the Cabinet, will be of currency... The decrees to this posed to the special power of the submitted to government, are negotiating with a ratincation before July 31, 1936.”

the Chamber for view to formation of d united front

In a speech introducing the in the Chamber to which numer-Bill, the Finance Minister pointed. ous Radical Socialists, who are out that the situation was now so known to be likewise hostile, might grave that immediate steps were eventually adhere.

necessary... the events of the Tast two

M. Laval and the President of the Chamber, Boulsson still con- tinned to be mentioned as Flan- din's possible successor.- Tranmeran Kun Min.

CLOUDY. ATMOSPHERE

Paris, May 29.

weeks having resulted in a reduction of gold reserves in the Bank of France by three milliard francs: Although the gold reserves could put "up

resistance for a considerable time owing to their great extent, the continuance of the present movement could menace the security of the franc if the French Government did not manoeuvres by certain circles who resolve to put ∙a stop to the

to maintain "the French currency. doubted its courage. Determined

Government has now asked Parliament to give them corresponding power. ·

the

الصنارة

COURVOISI

Courvois

DODWELL & CO., LTD.

Tel 20636.

Sole Agents.

GERMAN NAVY DEMANDS

London Conference

(Special to the "Hong Kong

Daily Press") (by Telegraph, Copyright. Tuke graphic Massager Ordinance. 1894. Received, May 29, 4.30 p.m.}

the

Berlin, May 29.

Queen's Building.

REFORMS IN

POLAND

Yba

Right To Elect Senators

Tale- 1804

(Special to the "Hong Kong Daily Preas"). Telegraph, Copyright, naval conference between Ger- Received, May 29, 7.30-8.m.) The commencing date for the graphic Massager Ordinanes.

many and Britain is fixed for June 4 in London according to a

Warsaw, May 29. statement issued by

The Polish Government bloc's official news agency here. The committee for constitutional re-

a semi-

German delegation which is under form have now completed their

chairmanship of the special" deliberations on commissioner

the projected for Von Ribbentrop, will leave Berlin.

disarmament, electoral reforms and it is stated

present week.

in informed quarters that the com- for London at the end of the

mittee have decided to consider- ably modify the bill originally pro- The obable trend for the

posed by the government providing forthcom - parleys as well as

that the senate should henceforth Germar a plans and intentions as the

be "elected", rather than by a regards nával rearmament is in-democratie body. dicated by the press comments on Wednesday morning. need of adequate naval security Britain's

had been recognised by Chancel- lor Hitler, says adding that the Chancellor also "Lokalanzeiger,"

stressed Germany's wish to pre- vent a recurrence of conflict with Britain. The basis of the forth- coming nations, however, declares the paper, can only be the settle- ment that will give Germany full equality rights and security.

The atmosphere was by до meahs cleared up by the Finance Minister, Germain Martin's speech on Tuesday to judge by the views expressed in parliamentary circles on the conclusion of the session. The minister, is accused of having concealed the real facts of the situation, contenting himself with generalities and technical details instead of revealing the actual

BUDGET DEFICIT figure of the budget defeit and International speculators who had state of the country's Anance. attacked the currencies of one gold

Great mistrust is also displayed bloc country after the

other, by many deputies as to the scope were defeated by the counter of the authoritative powers as well measures taken by Holland and as how they will work out in prac- Switzerland and they had tice and the Anance

now committee turned their attention to the franc. who have to make a report, on the The question had been raised why bill on Wednesday is credited with the speculators believed the franc the intention of demanding fur-

to be a favourable target since, in ther details regarding the measures

spite of the continuation of the contemplated under these powers,

world crisis, the economic situation In general a very pessimistic out-

in France gave no ground for look prevails in responsible quar

anxiety, many signs of "Improve ters where the situation is regard-ment, in fact, being noticeable. "Berliner Tageblatt" pointing out ed as extremely critical

It was true, however, that the Transocean Ko Min.

prospect was

that Germany. marred

claims equality by One shadow: despite the

"not in order efforts of armaments

to Increase many years the budget deficit had view of the requirements of real

senselessly but

as Francs could so many resources at her disposal intention or prospect of disturbing not been removed. A country with security and without the slightest

easily bear a the sleep of even one

Transorer Kuo Min. Englishman.".

SITUATION STILL GRAVE

Paris, May 29. owing to the financial situation is The danger of the cabinet crisis still considered to be grave by the press on "Wednesday whose opinion, however, is divided morning.

ing motion as to the Government's empower"

there

over

budget deficit of a few infillard of the defcit resulted in the load francs, but the repeated occurrence of public debt becoming more and more pressing til finally

pa atmosphere of distrust was created

deficit totalling 27.617 and thereby a menace to currency, In, the budgets for 1930 to 1934, a trancs had arisen. "Such indebted- milliard

ness had necessarily led to new loans being made, thus making the gituation worse.

comparative steadiness spot" franes is ascribed to heavy Nanking, May 29.

intervention by British control The reorganisation of the whole

The fact that the franc has not narcotic evil and appointment of machinery

reacted more sharply to yesterday's for suppressing the

bank rate action is attributed General

mainly to oficial disclosure of this Chiang Kai Shek 1.9 Inspector General of Oplum. Sup-

week's, gold losses amounting to pression was decided at to-day's

over three miniards francs which ernment one ought to know be "Wanting to overthrow the Gov Central Political Council meeting.pected, and while the banks' huge w succeed it." declares "Feti

are substantially more than ex forehand the The existing legislation regard-holdings will not

combination that ing suppression of optum, and the depleted, it is obvious that such a

be materially Parisien" National Suppression Commission

which is one of the under Jheng Liu are to be abolish effect on French public opinion.

drain must exercise

papers supporting the government. a powerful An unblased observer leaving the ed and new legislation drafted by the Inspector General on the basis

chamber after Tuesday's session, City circles are convinced that the paper says, was under the im of the regulations hitherto pro-demand for plenary powers is ap wanted a smash up of things our

even if the French Government's pression that mulgated by the National Military

the people

METHODS INEFFECTIVE" Affairs Commission

Referring to the efforts made by proved by the Chamber, any re- ot which General Chlang. Kai Shek is the therefrom will be only temporary,whelming majority of senators be

Taxation of pressure following erous

of sheer joy of destruction. Nem-Previous Governments to organise

deputies rnd 1.1

Anances, Germain-Martin pointed The real crux of the situation relieve that M. Flandin supported by

out that purely technical methods of cash, the replenishment of which contuurs the journal, asserting francs in three days. What was mains to be the Treasury shortage M. Hertio, will master the crisis, had not sunced to

had already been applied, but they prevent the higher interest rates.- 18 only rendered more expensive by that Flandin as ar expert in. fin-wanted was the pacification of outflow of nearly three milliard

Reuter.

ancial and budgetary questions is the right man in the right place. evidence that the Government was pubile opinion which needed "Excelsior," on the other hand, determined to take energetic mea- says that the opinion of all parties except the Republican Union is sures. either divided or strongly opposed that made the devaluation of the After dealing with the reasons the empowering act. "Pelit franc useless as a solution to the propaganda in favour of devalua declared that the settlement of Journal" continues to open the tion with the argument that the the badget problem, though indis

problem, the Finance Minister Bank of France is handing over pensable, would not gumice for the "good gold in exchange for bank reorganisation notes."

of the country's Transocean

finances. A number of authorita- Kuo Min. ATTITUDE OF GROUPS

tive measures. were required in addition, and therefore the Glov- Paris, May 29.

ernment demanded powers ex- Members of the various Left ceeding those purely concerned

the

(Fox) (Gordon Richards)

(C. Smirke) i

Chairman.. Pry II.

The twentieth chapter of (Beary) Barberry...

revised Criminal Code dealing with (Nicoll) Bobsleigh was accepted but sub-

narcotic offences has been sequently scratched......

pended while the new legislation Reuter.

is in force.

BOBSLEIGH SCRATCHED FROM THE DERBY"

was

London, May 29. Lord Derby's Bobsleigh scratched from the Epsom Derby #hortly after noon to-day.

SUIS-

Although little is known of the nature of the new legislation, it is believed that it will probably embody features of the six-year- prohibition scheme which communicated to Geneva, some time ago.- Reuter,"

was

BANK INVITATION

Shanghai, May 29. It is authoritatively leamed that the directors of the National In- dustrial Bank in China have in- vited Mr. T. D. Woo to assume the post of acting general mana- ger owing to illness of Mr. Lu T1 Chth, general manager. Mr. Woo

is at present the general manager of the Treasury Department of

to

THE OAKS. The colt was regarded as £1 doubtful runner in the great classic

London, May 29. next week. He was cantered over The acceptance for The Oaks are Ave furlongs this morning and as follows: Buchanite, Merry Maid, went very feelingly when he was Corrida, Irish Lassie IL, Coronal, trotted out. He displayed similar Fox Lair, Light Tackle, Sunkiss, the Central Bank of China (whichy symptoms, when he was trotted Bolerina, Ankaret, Fair Etonian, is out last evening. Trainer Leader Indira, Cotedazur IL, Solar Star, and will hold the new post concuss the situation on the whole

A Government appointment) groups met this morning to dis with finance. told Reuter then that "Bobsleigh Hyndlord Bridge, is not so good and must now be Quashed, Blue, Gisi; Clere Story and consent of

Papyretts, currently with the present one by tmosphere which is unfavourable Germain-Martin read the text of On conclusion of his speech. regarded as a doubtful runner." Mesa-S

the Minister of to the Government. Reuter,

Finance

the new bill whereupon the sesalon: Reuter.

The Radicals decided to

walt adjourned!! and see what the Goverment is Trace in“ huo Mi

Reuter.

The need for security on both sides is equally conditions are different declares great although

in

solitary

Instal a

#

According to the original bill the rightful electioneers would have been the prerogative holders of certain orders or of the occupants of certain public offices or of per- sgns otherwise distinguished by adequate

public service. This aristocratic principle" is bow entirely dropped according to re- liable information which states

that the committee of the new proposals provided that every Polish citizen who had completed secondary school education shall have the right to elect the senators.

The plenary meeting of all government groups of the SEJM senate will be held on June 1 for

of the president of the republic reform bills concerning the election the purpose of approving the three

respectively, which bills will be submitted to the parliament.— Transocean Kuo Min,"

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