VIEWS ON A BETTER
UNDERSTANDING
Future Of Franco-German
Relations
(Special to the "Hong Kong
མ་ས་
Daily Press").
By Telegraph," Copyright,
Ürdinance, "Mezzagar" graphie Received, June 30, 7-30 pm).
Taka 1894
Frankfurtmain, June 30.
become
HONG KONG DAILY PRESS, MONDAY, JULY 1 1935.
BANKING ACT
IN US.
Amendment To Be
Introduced
the new B.
CHINA'S CURRENCY
PROBLEM
Anglo-American
Interest
been following the sliver situation closely, said the effect of the "Ame- rican policy upon China has been bad, but that the situation wLI getting better.
Elsewhere it was said that the British Government was making a close study of the silver situation with a view, it was believed, tô ap- proaching the United States for a monetary conference.
,
One private source said that the British Government felt that Ja- Dan was endeavouring to gain control or China's currency and that unless. joint action were taken by the United States and Great Britain this was quite likely to come to pass,
Washington, June 28." The "New York Times" Washing ton-correspondent learns that an
Washington, June 28. French and Soviet-Eussian Gov- important amendment to the
Because it is feared that Japan ernments The French Govern-Banking Act of 1835 under which may be seeking to control China's ment will take steps to dispel the banks will be permitted to currency. It is believed that Great the German uneasiness on this underwrite new securities which Britain and the United States may score."
the civi will be exempted from
take some action to prevent t PACT SYSTEM
Habilities imposed on underwriters America is making an unofacial Berenger then declared that as
under the Securities Act of study of the effect of her silver'po- An important announcement of
1933 has been adopted by iley upon China and the Silver Bloc the possible future of Franco-regards the French pact system he
stand the Senate Banking Sub Commit- in the Senate. Is campaigning for German relations, suggesting pos-understood the German
more activity on the part of the sibilities of better understanding point. It is easy, he said "to ap tee which has just finishef revising.
Treasury in following out the pur- on both sides, is published" by the preciate the unwillingness of the
German Goaernment to whose Voksblatt" "Frankfurter
The amendment which has been chase programme in respect of the involved in a system that might urged on bankers for some time as white matal. These are the latest Paris
an correspondent reports
later involve the participants in a
a means of reopening the capital developments in the silver tangle. interview with the Chairman of
Well-informed official sources the Committee of Foreign Affairs-war with which the Germans had market will go a long way towards
nething to do, consequently one in restoring the banks of deposit in disclosed to-day that Mr. James of the Senate, Henri Berenger.
which it would have no licilncluding the J. P. Morgan Com-" Moffett of the Federal Housing Berenger based his remarks un
Their share of the securities Corporation is making a study for pany. Herr Hitler's last great politicalition to sacrifice one single Ger-
were taken away by the Banking President Roosevelt of the effect
PRESSURE BROUGHT speech which the French senator man soldier.
"The number of French politi-Act of 1933. The latter made it of the American silver policy upon
Meanwhile, thirty-four. Senators described as "monument of dip-
clany who view the present pacto- unlawful for any bank or similar China. lomatique."
have signed a petition to President mania" with mixed feelings are by organisation to receive deposits
The White House denied that Mr.Roosevelt asking that the Ame- order to obtain any concrete re-
and at the same time engage in the Moffett had been delegated offcial-
rican silver palley, as laid down by sults it is essential to let bygones no means few, and I myself have
business of issuing, selling or pay to make a formal study. It is the Administration, be carried out be bygones. Having done with been one of them since the sum- the past it will be a question of mer of 1934 when made my derwriting securities. The, J. P. explained that Mr. Moffett went
fully. Morgan Company in consequence to President Roosevelt with plans dealing with the knotty points of objections, known."-
gave up the security business and for a vacation cruise to China and the present.
the became a deposit bank.
the President suggested that while in China he might observe condi- tions and report to him after his vacation.
An
declaring that in
territorial questions were disposed of by the unequivocal result of the Saar. plebiscite. The Relch Chancellor has repeatedly confirmed this before the German people and the public of the whole world. Moreover the men of authority in New Germany, like Rudolf Hesa, Goering. Frick,
The new amendment while pro- Goebbels, und Von Ribbentrop people in Austria should have the have made similar declarations. right to self-determination, Beren-viding banks may underwrite new "We have grounds for doubting ger admitted that no objections Issues of securities, both stock and
AUSTRIAN QUESTION Berenger considers that
The Securities Act of 1933 pro.. Austrian question presents no lo-
difficulties. surmountable
"Ovided that underwriters as well as course, in interpolated. "Ger- issuers and merchandisers of se
urities might be sued by purchasers many has no right to claim an-
If the registration statement' o' nexation of Austria.”
When the correspondent point-issue contained any untrue state. ed out that the Reich Government ment of or omission of material only demands that the German fact
the sincerity of the assurances could be raised to that. réceived and I personally," added Berenger, "do not question their genuineness for an instant. But of course recognition of territorial possessions most apply to the French Colonial Empire as well.
Is particularly propitious that the Reich Government ad- heres to the Treaty of Locarno which secures peace in the West. The Reich Government expressed fears that this treaty would be narrowed in its application by the agreement of May 2 between the
CONCESSIONS IN BUDGET
All-Round Benefits In Britain
SILVER MARKET
bonds, does not permit banks to Turning to the armament ques-sell securities either wholesale or tion Berenger expressed-the view retali that both sides should be entirely Reuter., free to act as they thought fit. "Only strength inspires respect" he commented. But that did not exclude the possibility of deter-|- mining that state of equilibrum in armaments between Germany and France. France would prepared to give impartial sideration" to any German posal in this direction.- Prýnincear Kun Mas
THE PEIPING REVOLT
be
(From Our Own. Correspondent)
London, June 29, con-
London Stiver prices to-day were pro-up. 1/4 as follow:-
June 28 June 29 Spot
31 31-1/4" Forward ....... 31-1/4 :-31-1/2- Landon on New York cross: rate
Big Reward Offered For Capture
Peiping. June 30.
A reward of $20,000 has been offered for the capture of Pai Chien Wu alive or $10,000 dead.
Wang Keh Min, new chairman of the Political Council, has made a gift of 820,000 to the police and military who maintained such excellent order within the city during the revolt on Friday,
London, June 29. Two concessions made in this year's Budget comes into effect on Monday July 1, and will benent by salary restoration and wage in- creases more than 3,000,000 people. The chief of these concessions re- stores economy cuts, made at the time of the 1931 Bnancial crisis tr the pay of Civil Servants, members Dr defence forces. Teachers, Po- Ifee, Insurance, Doctors and Chemists, Judges, Members of ship of Chahar and proceeded to Parliament and Cabinet Ministers. Tientsin this morning to consult The cost to the Exchequer will be sung Cheh
Chahar £4,000,000, in the present financial | affairs. year. This payment marks the recognition of the end of the de- pression period.
Chin Teh Chun has withdrawn. his resignation of the chairman-
Reuter.
Yuan
on
COMBING THE CITY
Pelping. June 29. Peiping spent a quiet, if nervous night. Murtial law was enforced and the streets were deserted, ex- cept by press correspondents and
The second budget concession abollshes entertainment duty on all admission payments under six- pence, while duty on such pag- ment over sixpence, will be reduced in theatres, music-halls, and others few other foreigners places where there are living per- formers. This will cost the State about £2,250,000 during the cur rent year,
In a full year all these conces- slons will be equivalent to £8,500,- 000. During July at least 1,500,000 workers in great industries. Will also receive wages increases. It 15 In fact, estimated that July will be the best month for wage advances both in the number benefitting and amount involved for a decade.----- British Wireless.
CHIAPPE GODIN DUEL
(Special to Hong Kong
Dally Press
((By Telograph, Copy graphie Mazingas 'rdinance, Received, June 30, 480am!)
Paris, June 29,
The newly elected president the "elty council, Jean Chiaj fought a duel by pistols on Bat
day with the chief of the
counts, Pierre Godin, who
sulted him publicly in an open let
In the morning, all the gates were opened, fresh food supplies coming in to repair the shortages due to yesterday's closing of all gates.
at closing to-day was 4.9437 com- pared with 4.8462 at closing yester- day.
U. S. TREASURY DEFICIT
Nearly Three And Half Millions
Washington, June 29, The US. Treasury closed its books for the fiscal year with a deficit of nearly $3,500 millions with two days transactions sti to be reported in detail,
|
"PURELY
PS
INFORMAL"
The Silver Bloc in the Senate declares that unless it can obtain more vigorus Treasury action, the Inaationary Frazer-Lemke Farm B01 will be pushed,
. Senator Thomas is endeavouring to gain additional support for the petition. His goal is said to be forty members of the Senate.-
The whole affair is described as purely Informal
However, one Senator who has 1 Reuter.
SAFEGUARDING
U.S. GOLD
Vaults Being Built Inland
INCIDENTS AT FRONTIER
Soviet-Japanese Friction
"(Special to the "Hong Kong
·Dally · Press"}, { (B Telegraph, Copyright, - Tela Mexrays Ordinance,
1894 Received: June 30, 1.30 am)
Moscow, June 29,
Washington, June 29. Secret orders have been given for rapid construction of subterraphic ranean vaults at Fort Know, the Kentucky Army past. Considerable precautions are being taken with a billion dollars worth of gold now
The grave incidents occurring in the Russo-Manchurian frontier
held in New York and Philadel-near Pogranitcznaja in the last phia.
few days are now officially an nounced here.
Officials reluctantly disclosed that the structure is being 'built in accordance with the policy of mov- ing the gold reserve from vulner able coast cities to more isolated inland territory.
This policy already resulted in the recent shipment of nearly three million dollars in gold from San Francisco to Deriver.
The completion of the new pro ject would mean that the Rocky Mountains on the one side and the Appalachians on the other would separate the nation's monetary basis from any possible attacks from either seaboard. Reuter.
MR. EDEN REPORTS
Expenditures exceeded revenues by $3,473 millions as compared with $3,881 millions for all but the two
London, June 28. days of the last fiscal year
Mr. Anthony Eden, Minister for The total expenditure were $7,-League Affairs, was in close con- 258 millions compared with $6,989 sultation with the Foreign Secre- millions in 1834 and estimate of tary, Sir Samuel Hoare, to whom, with other Ministers, he reported to-day on the results of his visits to Paris and Rome
His mission will be the subject
$8,581 milions. The total revenues were $3,785 millions-
-Reuter.
CUSTOMS SURTAX
Nanking, June 30.
On June 23, for instance, forty. Japanese soldiers commanded by two officers crossed the frontler and penetrated several miles into Russian territory..
Again on June 25 anomer group consisting of forty infantry and sixty cavalry belonging to the 3rd battalion of the 88th Japanese re- giment crossed into the Soviet ter- ritory. remaining there several hours.
The Soviet frontier guards ob- served the actions and movements of the Japanese soldiers but were order to remain passive to avoid causing further complications. Subsequently two further incidents were reported when the Manchur lan river gunboats entered "Soviet waters, River Amur.
Veuve
Clicquet
DODWELL & CO., LTD.
Tel. 20636.
Sale Agents.
CEREMONY IN BELGIUM
Chinese Takes Holy Orders
Brussels, June 29. Flags of the Papal State, the Chinese Republie and Belgium were flown at the Abbey of St. Andre near Bruges on the occa- sion of the ordination as priest of Lou Tseng Tsiang who in 1913 was president of the Chinese coun- cil of ministers.
Broken-hearted by the death of his Belgian wife nine years ago, Lou took the Benedictine robe and to-day became Father Dom Pierre Celestine, Lou.
Queen's Building,
JOLLY EVENING IN MUNICH
Attended By The Chancellor
(Special so "Hong Kong
Daily Press")
By Telegraph, Copyright, graphic Messager Ordinance.
Received, June 30, 7.30 p.m.)
Munich, June 30. Jublication broke out spontane...... ously among the hosts and guests at a festive gathering in old- Rathans, which is the City Hall here on Saturday night, when at 11 o'clock Herr Hitler unexpectedly appeared and joined the conviviaă. In addition to thousands of pik hrong. The assemblys purpose. grims, the Chinese Charge was to give a fitting close to the d'Affairs, Ambassadors in London inauguration ceremonies of the and Moscow, and Ministers in ¦ "House of German Art” which was Madrid, Paris and the Hague were honoured by the personal atten present.
dance of the Fuehrer earlier - in the day.
Mass was celebrated by Mon- signor Constantini," Archbishop At the so-called "Bunter Abend”- Theodoria, late Apostolic Delegate that is “jolly evening", the hosts- to China."
were the City Councillors 'af The Pope, sent congratulations | Munich who had invited not only and greetings.- Iteuter.
TRAVEL LAWS
IN POLAND
Danzig People Affected
(Special to the Hong Kons
Dally Press) { (By Enisgraph, Copyright, Telg rape Messages Ordinance, falls Becained June 30, 4.30a.m.)
Warsaw, June 29.
The decree just published by the Semi-omicially, it was announced polish official Gazette will virtually
the Board of Management of the House of German Art but also those workmen who had any art In constructing the building it- self.
Hitler's appearance gave a richer significance to the event and syzn- bolised the closest unity that now exists between the brain and hand workers of the Third Reich.-- Transocean Kuo, Min
HELP FOR SZECHUEN
Nanking Takes Action
Nanking, June 29. The Legislative Yuan, at a secret session held yesterday afternoon. adopted regulations governing the issue of Ezechien rehabüiftarian
on Saturday night that Litvinon had sent a note to the Japanese prevent the people of Danzig from bonds bearing six per cent inter Government, protesting in the travelling by rall to places in Fo-est. sharpest terins against the repeatland and makes transport of mer-
The Government has also de
ed frontier violations at Pogranit-chandise from Danzig to Poland cided upon the fresh issue of bonds cznaja, demanding first that steps impossible as long as the currency for converting $50,000,000 1934 be taken to prevent any further restrictions in Danzig continue. Customs and Treasury notes and
Persons leaving Danzig can only repaying bank advancem buy raliway tickets to the Polish The new loans bear aix per cent. that those Japanese soldiers and frontier a few miles away, and then interest and are redeemable in ten
cause for complaint, and second,
of a statement in the House or oficers who had penetrated Ruimust pay in Zloty for the ticket years, being secured on the Sinking
Commons on Monday. It is under stood that as result of the Paris conversations certain misunder-
stan territory be severely punished.
THE KING
Moreover, Litvinoff intimated that for the further journey. The Fund for 1034 Treasury notes and the Japanese note received here re. Dany people are only allowed to increased Customs revenue. The standings regarding the British pay about the frontier incident take 20 gulden over the frontier, regulations were adopted to-day by It is officially announced that polley were cleared up. Emphasis on May 22, was unsatisfactory to and obviously cannot pay for Po- the Legislative Yuan, but the exact lish rall tickets at the border amount has not yet been disclosed the Customs ave per cent surtax is laid in the communique issued the Russian Government and de- as from July 1 will continue to by M. Laval after the conversa mands further explanations General Sung Cheb Yuan's be collected for another year to tions, that the Anglo-French de
Transocean Kur Min. troops have arrived from Chahar make up losses due to abolition of claration of February 3 represents to assist the authorities in main-interport reduction of the export
the basis upon which the current taining order They are quartered duties.
Auropean problems will faced 17 the vicinity of the Summer Pa Reuter
British-Wireless. lace. With General Wan Fu Ling's troops and cavalry belonging to General Bhang Cher. the new Governor of Hopel, the loyalist soldiers in the Pelping area, now number 30,000. The authorities continue to comb the city for """plainclothes" men, of whom Eve have been arrested, all being. heavily armed. Reuter
GRAF ZEPPELIN ON ANOTHER TRIP
(Special to the Hong Kong ›
Dalls Press"YES (By To
Copyright, Tatu graphie: Message: Ordinancs, 1894 Recribed June 30, 180 prv
STAGE SET FOR STRIKE OF MINERS
ashington, June 29,
of the miners
Fol
negotia hours and
Workers
allmen
The stri coaineids-affecting has been ordered Friedrichshafen, June 30,lowing a breakdown TheGraf Zeppelin' started for tions for new
Alo de Janeiro Southcontract, Mr. John on the sev South dent of
ited merican, trip this: at 10,35 Association, has a.m. on Saturday, commanded by
All avail Captain Von Schiller able passengerbert
ter, whereupon Chlappe challenged Pernam
two shots went wide, but slightly wounded Godin. nents were thereupon se but they were not recon-
can Hus Mi
ut at midnight, on Sund
The owners
mendumag the stoppage.
CANTON CRUISERS TO BE OVERHAULED
Shanghai, June 29 Preparations are being made to repair and overhaul the Each and Hashen when they arrive at Shanghai. Adm. Chen Shao Kuan, the Minister of the Navy, may possibly come to Shanghal to in- spect the vessels. Reuter
TEN NEW STORES
New York, June 28.1 ry-Ward chain
As regards transport of goods, Reuter, the freight must be prepaid in Poland on the consignments de- stined for Danzig while on the goods passing from Danzig to Por land, prepayment of freight in Złoty is insisted upon, which, how- ever, under the existing currency regulation is utterly impossible,
In practice, the Danzig people likewise are precluded from travel ing by rall towards Germany, and also since the railways in the Free City belong to Holland, the tickets in gulden are only procurable as far as the frontier station-o- Transocean "Kao Min
"PHILIPPINE REVOLTERS
Man
rangin
inces, the 17
London, June 28. The King, who has greatly bene fited by his rest at Sandringham, was warmly welcomed by the pub- lie on his return this morning to Buckingham Palace, where he join- ed the Quee Britt Wil
The
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