1937-01-22 — Page 7

GERMANY'S

FINANCE

LEADER

DR. SCHACHT IS

60 TO-DAY

COMMUNIQUE

Hong Kong

Delegation

To London

The following communique was Dr. Hjalmar Schacht, Preald-issued by the Colonial secretariat ent of the Reichsbank and Reich yesterday: Minister of Economics, celebrates his, 60th birthday to-day,

Kjalmar Schacht,

Reichsbank President and Germany's Minister of Economics, is one of the most interesting and remarkable figures in German politics of the last de- cade.

rarest

Originally, Dr. Schacht came from democratic surroundings to which fact his very names bear wirness for they are the collection to be found in Germany. His father who had spent several years in the United States was most enthusiastic over the politi- cal life there, Anding the democru- tic ideals embodied in the person of Horace Greely, the democratic candidate for the Presidency at that time. His people were not very well off, his father being by turn journalist, merchant and fin- ally, employee. No sacrlace was too great for the parents, however, so long as the children received a good education. This Hjalmar Schacht was able to visit the fa- mous. Johanneum in Hamburg where he matriculated in 1895. First he studied medicine, then German and, finally political eco- Domy Berlin, Munich, Paris and London were all

centres where

he gathered material for his thesis on the "Theoretische Gehalt des englischen Merkantilismus with which he completed his studies at Kiel

In the early part of the War, în October 1914, he was attached as financial and currency advisor to the Central German Government in Belgium Ta 1915 he returned to Berlin and a year later became governing director on the Board of the National Bank of Germany.

His public career began when in 1918 he entered the National Bank As Director of the department for securities and after its fusion, in 1922 with the Darmatadter Bank made it one of the leading banks In the country. From here he en tered the political arena. With

It is notified that the following gentlemen will represent the gen- eral community of Hong Kong at King George VI:- the Coronation of His Majesty

HONG KONG DAILY PRESS, FRIDAY, JANUARY 22. 1937.

LADIES NIGHT

AT "Y".

Enjoyable Concert Follows Dinner

A most enjoyable concert was given at the European YMOA last evening, some of the Colony's leading artistes contributing to a very well arranged programme.

A dinner was served before the commencement of the concert there being approximately seventy

The Honourable Mr. 8. H. Dod-present.

well, and

Dr. 8. W, Ta'o, C.BE

The programme was follow:~~~,

PART I

His Majesty the King has also 1. Rupert Baldwin, A.T.CL-Plano been graciously pleased to approve

a recommendation that a military

pire should be included in the Royal Procession on the return route from Westminster "Abbey to

2

JAPAN, INDIA, AND

BURMA

The Trade Negotiations

It was mentioned a few days ago f thus enjoying' a privilege which that a part of their delaying has not been granted to the Unit- new agreement to replace the pre- tactics to the negotiations for a ed Kingdom. Nothing is known in Manchester trade quarters which sent commercial treaty and pro- suggests that the United Kingdom, tocol with India, the Japanese had besides negotiating a new truds demanded that, as their cotton plece goods exports to Burma were Agreement which India has de

agreement to replace the Ottawa

to be excluded from their quota nounced, will be able to make a for the Indian trade, they should new agreement with Burma, and negotiate a quota for Burma the whole position is causing separately with Burmese rope- considerable anxiety, So long as sentatives, writes a Home corres Burma remains a part of India, Indian goods enter Burma duty

forte Bolo-"Whims" --- Schu-pondent.

mana.

Charles,

Accompanist: Eva Turner,

Buckingham Palace, and the fol-3. Ronny A Edwards-Xylophone senting Burma and negotiating

lowing members of the Hong Kong Volunteer Defence Corps and the Hong Kong Naval Volunteer Force 4. will represent these Services:-

Major E. J. R. Mitchell, OBE, C.S.M. R. J. Everest, M.BE Pay Lieutenant Commander 8. H. Ross,

Solo-Belected.

Accompanist: Austin Spary. Doris Blair-Soprano My Love-

ly Cella"-Monro.

11

A

contingent from the Colonial Em 2 William C. Knight-Bass-A ently regarded this demand as a

The Government of India appar-free, while British goods entering

Burma pay the same duttex Song of The Sea"-Wolseley reasonable one, and w British of those entering India proper. It

ficial has left Rangoon and gone

has been arranged, however, that to New Delhi, where he is repre-

for three years after the separa- top of Burma from India takes directly with the Japanese. It replace Burns shall continue to Im- maina to be seen whether, by pose no duties on imports from means of negotiating separately with India and with Burma, Ja- pan will obtain a larger total quota for those two markets than it part of a total for British India was earmarked for imports into Burma The Government of India, it is stated in Indian newspapers, is sticking to its guns in its negotia- tioni, resisting Japan's attempts to secure concenions, and it may be that Burma will not adopt such a strong attitude.

Cadet W. W. C. Shewan...

LENIENT VIEW TAKEN

One Day's Prisoa Sentence

A.

Accompanist: Lindsay

Lafford FECO. (CH) A.R.CM, LRAM,

5 J. C. M. Grenham and W. C. Simpson-Comedy...“HI Tiddley Hi Tt Island."

4. Glady Show-Contralto "Sweet Chance That Led My Steps Abroad"--Michael Head.

Accompanist: Lindsay A

Lafford. PART II

་

1. Rupert Baldwin, A.T.C.L-Piano- From the point of view" of some "forte Bolo-Vaise Ballett" traders in Lancashire, however, the

Chaminade.

2 Doris Blair-Soprano-Foor Wandering One"-Sullivan. Accompanist: Lindsay A

fefford.

Solo Selected.

A sentence of a day's Imprison- ment was passed on Yacob, Juman 3. Ronny A. Edwards Xylophone Kahn by Mr. J. A. Fraser at the Central Magistracy yesterday after a ples of leniency was made by 4. counsel for the defence, Mr. A. 4). Arculli.

Khan, an employee in the. Ac- counts Department of the Hong 5. Kong Police, was charged with the theft of $100 on January 15: the property of the Government.

Also present in Court were Mr. C. G. Perdue, Deputy-Inspector General, Mr. J. Murphy, Chiet Detective Inspector and Sgt. Flat- tery.

In answer to the charge yester-

day, Khan replied "I am guilty and Mr. Arculli has my instructions!"

Mr. Arculf såld that the defen- dant had been in the service of the Government since November 1927. He was only 26 years old now, married and with a family of two children, aged four and Ave.

As a Government servant he had contributed to the widows' and

orphans fund for the past eight years. He had been a volunteer, and was now a member of the Police ReseTC.

Accompanist; Austin Spary... William C. Knight-Bass-"Som- bre Wood"-Lully arrd: Michael Diach.

Accompanist: Eva Turner. Glady Shaw-Contralto"Where

Corals Lie"-Elgar.

Accompanist: Lindsay A..

Lanford.

STAR FERRY DIVIDEND

Recommendation Of Directors

The "Star" Ferry Co.,

Ltd. report that the amount at Credit of Profit and Loss Ac- count for the year ended December 31, 1036 is........... less amount of Interim Dividend paid at $2 per share

The

amount brought forward from the year 1985 being

The total now available for distribution is......

most important aspect of these paration of the negotiations intu two parts is that Japan is now negotiating direct with Burma and

CARE OF THE NAILS

London Firm's "Recipe"

مجيد

An increasing number of women sumer from splitting and breaking nails and bad cuticles. There are many causes, the chief of which are inferior enamels, some con- stituent in the water supply, uris acid, wrong diet, and bad mani- taire.

No woman need feel "ashamed” of her hands or nails if she will Exercise care. One preparation can be bought, which prevents nails breaking, strengthens them, and removes the cause of cuticle trouble.

The London firm making this preparation, which will be exhibited at the 1987: British-In-

austries Fair, also makes more $398,300.50

180,000.00

dia, while also continuing to im pose on imports from the United Kingdom the same duties as India imposes. Such a prospect, while by no means pleasant, could be accepted with resignation so lonS as it appeared that the United Kingdom would be in the same boat as all the other exporters to Burma apart from India, but there may be an additional hardship if Japan is able to steal a march on other exporting countries by means of its direct negotiations. It is understood that there will be no tripartite discussions in which In- dia, Japan, and Burma are all re- presented so that it is possibla that Japan may secure a quota in Burma which will threaten India's interests there.

WANG CHING WEI FETED

Banquet Given At Nanking

Nanking: Jan. 20. Mr. Wang Ching-wel attended the 24th meeting of the members of the Central Executive Commit toe at 9 am, this morning, in the capacity of Chairman

At 8 pm. In the evening, over one hundred of the leading ofâ. clals of the Government gavo a . banquet in Mr. Wang's honour in the reception hall of Government House.

It is reported that Mr. Wang Ching-wet has cancelled his pro- posed trip to Fenghus, his leave having expired on the 20th. instant-Chinese Beening Pres.

than thirty other preparations for j‹ Free, advice and assistance the care of the hand and nails. given to all customers.

325830655 EXPORT OF PIECE GOODS

18,521.45

$255,828.00

Career Ruined Khan, said Mr. Arculli, was born In Hong Kong of respectable parents, who were stin alive. The

At the forthcoming yearly meet- fact that the Colony was a small place caused the shame to being of shareholders the Directors will recommend appropriation as known to all.

follows:

Continuing, Mr. Arculli sald that the defendant stated that he saw the $100 note on the floor in the Department and picked it up. It was not a case of snatching as his various international connecment property. It was not pre- he did not know it was Govern- tions he endeavoured to bring

meditated and he just fell into a about reasonable and bearable re- paration conditions. On 7. Novem

temptation, ber 1923. Dr. Schacht was nomin ated Commisaar for the currency. A few days later Herr Havenstein then President of the Reichsbank, died and Dr. Schacht was uzgest as a possible successor. His rival candidate, Hert Helfferich, had the full support of the Direc- tors and Central Committee of the Bank which resulted in a majority vote against Dr. Schacht Never- theless, the Government's choice fell upon Dr. Schacht, and who managed to perform the miracle of currency stabilisation which pre- served Germany' 'from chaos and disintegration.

ed

Under

,

.."

Henceforth, it would be impos sible for defendunt to and work, and counsel felt that defendant had already been punished suff- clently. Aside from the knowledge of the shame brought to his parents and his friends his career ended as a public servant.

Also, the fund to the widows and orphans might be forfeited, and defendant would have to leave the Colony to make a living, which would mean exile.

To pay a Final Divi-

dend of $3 per share $240,000.00 To carry forward 16.828.00

...

TO THE EAR EAST

Big Fall In China's Purchases

are

China took 33,800,000 square goods; the reduction of export yards of cotton plece goods from | tariffs; and the provision of roads this country in 1933; In 1934 the all over Chink and additional rell- quantity dropped to 14,500,000 ways. square yards, and in the first -eleven: months of last year the

Frohibitive

The slans of progress made $256,828.00 latest figures available to $300, would make it a matter for sur

SALE

CONTINUES AT

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FOR SALE Provisions, Groceries,

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at exceptionally low prices at

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USE OUR SPECIAL

AEROMAIL

unpremeditated was also the complicatiotis, bas had an almost The high duties operative in LETTER PAPER & ENVELOPE

000 square yards, writes a London prize that cotton plece goods correspondent. In the report of should have shown ao few signs of the China and Far East Section improvement. The solution to this General of Police not to press tha

of the Manchester Chamber of lies in the import tariff. The dut Boon after the advent to power

case. However, he did not quite Commerce which met on January lea are so high that they have be of National Socialism, Dr. Schacht

agree with the statement that de-, and re-elected Sir Kenneth D. come almost prohibitive. It is to was nominated President of the

fendant picked the money up from Stewart as its chairman--there is be hoped that now the point has Reichsbank by Herr Hitler and

been reached where the law of subsequently the Ministry of Eco- land the benent of the doubt was locked at the time and the $100.

Mr. Arculli stated that in Eng the Door: the cash "box was not / however, a ray of hope.

Although, the report says, the diminishing returns operate wy nomics was also entrusted to him. given to a first offender by not note was at the bottom of a num-heavy toll of dimculties caused by may look for some reduction in

his management the sending him to prison. There were bit of checks. That it was quits internal disorders and political the rates now obtaining. Reichsbank became the Central two reasons for that: (1) sumclent Institute for the entire German Punishment; (2) a chance to make opinion of the authorities,

neutralizing effect upon many China have reflected in the quan- credit and monetary systems. It good

His Worship: There is nothing efforts to bring about a general | tity of cotton piece gooda exported was Dr. Schacht who found a way prison, he had a chance to wipe out | punishment. You have had a long that the outlook is distinctly more entrepot trade,, In the case of j If defendant was not sent to that I can say to add to your improvement, it may now be said to Hour" Kons, which is largely an to finance work promotion and then the defence programme. Be the slain by becoming a good and and creditable career with the favourable than it was even twelve yarn the demand has been steadily is untiring in his efforts connect honest citizen.

Government, and both Mr. Arculli months ago..

maintained owing to the large 10- ed with the currency policy. As

Autora Enso Not Pressed A

cal industry engaged in the pro- Reich Minister of Economes he

Mr. Murphy informed his Wor- and Mr. Murphy agree that this

Nanking Government

duction of shoes and hosiery:A carefully directed the transforma ship that he e carred with Mry was sudden and gone in

temptation. S

The Chinese Nationet | Govern- | fares Proportion of this trade Hon from free economy to the cor-Arculli's remarks and that he had porate form desired by National been instructed by the Inspector

ment has been steadily gaining re- eventually ands its way back to cognition and acquiring power Great Britain, as the exports Socialism.

throughout the country, and the moes are mainly to British por reforms it has introduced have sessions and in order to qualify been working out successfully. The for: preferential tariff treatment more important mclude the, mone they must contain a definite per- tacy earm, which stabilised the centage of British labour or ma- dollar at about 1s. 2id., thereby

terli bringing about a fairly reasonable Negotiations continued through- balance between exports and Im out. 1998 for revised terms for the porta:y the reduction of internal conduct of trade with Hong Kong. barriers to trade, which, prider the It is hoped it will be possible to name of likin, interfered seriously issue the approved terms to the with the internal movement of trade early in the new year.

On frequent occasions, with

to

Chance To Make Good In addition, I do not expect you will commit any more crimes of

Mr. Arculli said that you wanted an opportunity to make good and I went burden you in that alm by sending you to prison,

great candour and not without rarely exceed a few hundred, but pointed humour, Dr. Schacht at home and abroad, people lend elucinates and elaborates the mea- an attentive ear what he sures introduced under the new says, and how he says it. He economic policy; has it out with wears peither uniform nor badge, his foreign critics and last not nor is he to be seen in the lime least substantiates with convin Hight at big functions, yet, thanks ring, economic arguments Ger- to his great knowledge and ability The sentence I shall impose is many's colonial claims.” He is no he is one of the most important one day's imprisonment on you to-

orator and his audiences men in present-day Germany, day.

On the other hand, I will not hold a penalty over you by having you bound over.

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