1939-06-08 — Page 1

Page

"Hongkong Daily Pres

1939,

MASON'S

DELICIOUS

O.K.

SAUCE.

Temperature: Max, 85, Min. 76, Humidity 86.

WEATHER FORECAST:-E. TO S.E. WINDS, MODERATE: CLOUDY, LOCAL SHOWERS. Library Samra

Court

Hongkong Daily Press

Registered

a Newspaper at the General

Post Office in the United Kingdom.

報西

ESTABLISHED 1857

孖

No. 26202

裝式零佰弍仟伍藏式第

HONGKONG, THURSDAY JUNE 8, 1939.

UTMOST CONFUSION

CONFUSION IN THE SHANGHAI

EXCHANGE MARKET: H.K. & CHARTERED

BANKS DISCONTINUE SALES ON EXCHANGE

Acting On Behalf Of Anglo-Chinese Stabilization Fund: Instructions Sent

Or London?

From Hongkong

SHARP DROP IN LOCAL CURRENCY ACCOMPANIED BY SUDDEN RISE IN GOLD BARS

SHANGHAI, JUNE 7 (REUTER)—THE FINANCIAL DISTRICT IN SHANG- HAI WAS TAKEN COMPLETELY BY SURPRISE THIS MORNING WHEN, SHORT- LY AFTER THE OPENING OF THE EXCHANGE MARKET, IT WAS LEARNED THAT THE HONGKONG AND SHANGHAI" BANKING CORPORATION AND THE CHARTERED BANK, ACTING ON BEHALF OF THE ANGLO-CHINESE EXCHANGE STABILIZATION FUND, DISCONTINUED SALES ON EXCHANGE AT THE EX- ISTING RATE OF 84D. FOR STERLING.

;

Utmost confusion ensued in the market" nominally". until near mid-day when some cash business was done at 71⁄2d and later a 7d. This afternoon the market was closed as is usual on Wednesdays.

Exchange eircles are completely mystified by the action of the Stabilization Fund and it is not known whether instructions to the Hongkong and Shanghai Bank and the Chartered Bank, originated from Hongkong or London.

NATION MOURNS FOR 99 MEN ENTOMBED IN SUNKEN THETIS Impressive Service Held Aboard Mine Sweeper

LONDON, JUNE 7 (REUTER)—THE NATION TO. DAY MOURNED THE VICTIMS OF THE THETIS DISASTER. The clatter and noise of busy Merseyside was hushed as the minesweeper H.MS. Hebe passed on its way to the open sea to pay last tribute to the men of the Thetis.

On board were the widows, mothers, fathers and sweethearts of the 99 men entombed in the sub- marine, fourteen miles out at sea.

Many relatives could not face this ordeal. They. stayed quietly at home or attended memorial services elsewhere.

H.M.S. Hebe was accompanied by the "minesweeper HMS. Seagull heavily laden with wreaths which "were dropped över the sunken

vessel.

4

The order of service was simple and comprised the hymn "Eternal Father, strong to save.” Then came the firing of a volley, the sounding of the Last Post and Re- veille, and the singing of the National Anthem.

Many other warships at the spot also participated in the service.

Nearly a thousand employees of Cammel Laird and Com- pany, builders of the ill-fated "Thetis, marched from the ship- yards to a memorial service held in front of the Town Hall in Birkenhead, which was at- tended by many thousands of others.

Many flags were down at half- mast on prominent buildings throughout the country including the London Stock Exchange and Throgmorton' Street.

at

ham.

THETIS FUND £20,000 LONDON, June 7 (Reuter)---- It is reported that 25,000 has already been subscribed to the Lord Mayor's Fund for the dependents of the Thetis victime.

The Lord Mayors of Welling- ton, New Zealand and Cape- town have opened funds!

"

sinlar

FOREIGN TRADE

MUST BE BALANCED

Economic Policy

Of Spain

H.K. DAILY PRESS COMPETITION

The fourth and final

contest

of the competition series for boys and girls being held by the "Hongkong Daily Press" M. collaboration' with M..G-M

Pictures starts to-day. It offers them an excellent opportunity of making some extra pocket money and at the same time of securing free cinéma tickets. Bules will be found on Page 6.

Tinkler Was Kicked And Bayonetted

On The Ground

SHANGHAI, June 7. (Reuter)—

A sharp drop in local currency Surprise that Mr. B. M. Tinkler. was accompanied by an equally late employee at the Pootang plant sudden rise in gold bars where a of the China Printing and Finish- rush for buying forced the price Ing Company," was. "pot shot and from $2,096. at the opening, to killed on the spot," was expressed $2,256 in the early afternoon, after by a spokesman of the Japanese which the rate declined moderate Consulate-General in a statement ly closing at $2218-70

7 !, "

• Enquiries by Reuter revealed murde

total lack of knowledge of the He said that Mr. Tinkler "arro- reasons prompting the action by gantly pointed a revolver at the the *Stabilization Fund. Many Japanese officers and men and rumours flooded the market and even fred a shot. This was grave conjectures were heard ON all provocation to the Japanese, pavy. sides.

That the bluejackets should have disarmed this dangerous character in self-defence, and sub- sequently manhandled him, is only

A

DEFINITE INSTRUCTIONS One prominent foreign source stated that the Hongkong Bank dednitely has instructions to cease selling exchange at the rate of sid., but it is not known 'where the in- structions came from.

It is stated that the truth could possibly be found in any one of the following rumours..

natural in the circumstances." he sald,

It is reliably learned that during the meelee in which the Japanese marines were restoring order, Mr. Tinkler apparently thinking the Japanese were attempting to in- Firstly, the Stabilization Fund vade the mill, fred on the Japan- resources are exhausted.

Fese, Mr. Tinkler was thereupon. Secondly, negotiations have been knocked to the ground with a ride proceeding for a further loan to butt. support Chinese currency, but the Chinese authorities are not willing to put up their share of the funds, probably seeing no reason why they should support the local inar- ket for the benefit mainly of for- eign and Japanese traders. PRESSURE ON JAPANESE BANKS

The Japanese kicked and bayonetted bim while he was "on the ground causing several wounds to his abdomen. This occurred at 9 am, but Mr. Tinker was not allowed to re- ceive ......;

other than ·Japanese medical assistance until 11.30 p.m when he was removed across the river.

1L

JAPANESE VERSION

15-19 Marina House, Queen's Bond Central, G.P.O. Box No. 1

日四月隙年政拾盘佰玖千登宾

BIRTHDAY OF HIS MAJESTY THE KING

KING GEORGE VI OF ENGLAND whose birthday is being officially celebrated throughout the British Em- pire to-day. His Majesty and the Queen are visiting the United States of America on a State visit as the guests of President" and Mrs. Franklin D. Roose- velt. A Review of the Garrison will take place in the Happy Valley this morning at 8 o'clock

*

WHEN YOU BUY ON

PRICE

Remember

ALONE

that the common law of business balance prohibits paying

a little and getting a lot. If you doal with the lowest bidder, it is wise to add something for the risk:

"you run, and if you do that, yon have enough to BUY QUALITY

Lazarus

Mingle Copy: 10 Cents.

Price Per Month: $3.00.

Fusion Of German & Italian

Air Forces

ROME, June 7 (Reuter). Fusion of the German and Italian air forces and choice objectives are stated by the newspaper "Tevere " to be the main subjects examined by the Italian and German Under-Secretaries of Air at a recent meeting here.

"

"Tevere" declares; Not. only must the Italian and German air units be merged into a single operative struc- ture but also the two or- ganizations from the point of view of air bases."

41

"Everybody realizes the im- portance from the very be ginning of hostilities to strike hard at ports through which France counts on transport- ing her coloured armies hers or British-on whose aid she relies as a vital necessity, and also at ports through which British home troops may try to cross the channel.".

ANGLO SOVIET NEGOTIATIONS

British Representativ

KING AND QUEEN GET Going To Moscow

FIRST GLIMPSE OF THE UNITED STATES

Unique Ceremonies On Way

To Niagara Falls

ONTARIO, JUNE 7 (REUTER)—WHILE AT WIND- SOR, THE KING AND QUEEN GAINED A FIRST GLIMPSE OF THE UNITED STATES which they en- ter to-day thus marking the first historic occasion upon which a British sovereign has been invited to the United States. "Half a million people, who are now pouring in from all over the State, are expected to give Their Majesties a tumultuous welcome when they arrive at Niagara to-night. Two unique ceremonies will take place on the way to Niagara from where the King and Queen will enter the United States from

Canada.

H.K.'S GOOD WISHES TO

Thirdly, because these pegotia- tions have broken down and at- tempts are being made to form some sort of management to bring pressure on the Japanese banks in The Japanese version announced the International Bettlement to at to-day's press conference is turn over their exchange funds to that after being disarmed Mr. the Huahsing Commercial Bank Tinkler attempted to attack

Their Majesties will enter their HIS MAJESTY thereby placing the Bushing Japanese marine whereupon other from Niagars, and on the way to veying the good wishes of the Bank in a position to fix its own marines surrounded Mr. Tinkler the Falls, the car will operate an Colony to His Majesty the King is also stated in several quar-act a bayon coming the string of flags across the Highway on the occasion of the official he may have con- !' electric "eye" which will drop a

2

car. at St. Catherine, fourteen miles

foreign exchange rates.

ters that the. Stabilization Fund scuffle."

named. Queen Elizabeth Way. may have decided to withdraw support for the market at the pre-man revealed that although the

Under questioning, the spoken- HONEYMOON BRIDGE" vious rates with a view to reinter-British Consul-General requested operate a mechanism invelling the In similar fashion the car will vening the lower level,

that Mr. Tinkler be handed over cornerstone of the new span to to the British authorities he was replace the "Honeymoon Bridge" SHANGHAI, June 7 (Reuter) not handed over until he was dead over the Niagara River which Describing as "gross misrepresen-

collapsed in 1838.

"GROSS MISREPRESENTATION

Their Majesties will witness the Fall luminated by colour- ed floodlights.

The following telegram, con

birthday celebrations, was der.. patched yesterday by His Ex- cellency the Governor to the Secretary of State for the Colonies:

Graterm if you will convey' to His Majesty King George the loyal and hearty congratu- lations and good wishes of all. communities in Hongkong on the occasion of his birthday.

SURVEY FLIGHT SYDNEY, June 7 (Reuter)The

MADRED, June 7 (Reuter)-It is bas suddenly withdrawn assistance disregarded the spokesman declar

tation" rumours that Great Britain Asked why extrality rights were Memorial services were also held imperative to suppress all importe to the Chinese national currency, ed that where a person enjoying

St. Martin's-in-the-Fields, not indispensable to the life of the the Portsmouth, Devonport and Chat country and increase the exports Shanghal Evening Post and Mer- safety of Japanese forces," the American-owned paper extrality rights threatened the thus obtaining foreign currency, cury states that three reasons ap- Japanese claimed the right "under grand reception at Windsor from dying boat "Guta" which left

The King and Queen received a instead of the more convenient and pear to have guided the Stabilize international law to execute a crowd of 250,000 predominantly Australia for a survey fight over expensive system of credit abroad, on and in its decision this summary action. Such action. American, if the Indian Ovenu arrived at Cocos declared General Franco when out- lining the Spanish future economic at the previous rates.

morning to stop selling exchange

the spokesman added, did not ex- clude unlimited, detention or even

As the Royal train was leaving Island. Yesterday the machine policy before the National Cosinell

execution. of the Falangists in Burgoa.

Their Majesties saw a huge could not locate the Island and illumination sign dominating the landed at Batavia. American city of Detroit reading: "Detroit welcomes Their Majesties.“

S'HAI SOLDIERS FOR HOME SHANGHAI, June 7(Reuter) Gen. Frenco continued that The two regular British, battaliotis the first and most urgent pro in Bhanghal, the let Battn. Bea blem of naijönal economy was forth Highlanders and the 2nd to balance foreign trade which Baita East Surrey Regiment, are; had always been adverse ex each to supply twenty men who cept durkar the Greap War will proceed to England to take Spain's motto must be produce up training duties under the new and produce and manufacture Military Training BI in Creat articles which the world appreciat Britain. All the men will be ed and which the State would help NCO, qualified to act as instructhe market abroad, Gen Franco

added

Firstly, desire to discontinue unlimited dancing of Shanghala huge import surplus which, for the past two months, has absorbed ex- JAPAN - AUSTRALIA

change amounting to more than

£2,000,000 TONE TRADE AGREEMENT

Beconally, a strong resolution wo of Chinese foreign exchange re- MERG Menzies, announced that prevent farther Japanese trapping The Prime Minister of Australia,

CANBERRA, June 7 (Renter)

serves recently the Japanese have negotiations trad been opened ́If secured exchange from the Stabill- Canberra by the Japanese Consul- atlon Fund in unprecedently large General

Continned on Faro

new Japanese-Ans

The Queen was heard to re-

THE DOLLAR

mark, "What a wonderful sight." *TAL ON LONDON: 15. 2. 25,324, TT. ON NEW YORK: 28 13/16.

From Our Own Correspondent

The Brit

binet met, for at during

London, June 7. London silver prices to-day were down 1/18 as follow

Epot Forward

June

June 7 1915/16"

19-13/10-18-3/4

LONDON, June 7 (Reuter)-In a statement on Russia in the House of Commons, the Prime Minister, Mr. Chamberlain an nounced that a representative of the Foreign Office was going, to Russia. The Premier said that it appeared from the last exchange of views with the Soviet that there was general agreement as to the main objects to be attain. ed. The British Government, the Premier thought, has been able to satisfy the Soviet Government, The British Government was pre- pared to conclude an agreement m the basis of full reciprocity.

It was not intended that the military support which the three- powers would agree to extend should be connned to cases of ac- tual aggression on their own ter- ritory.

For other cases, the Premier hoped it might be possible to sug- gest a formula acceptable to the three Governments. It was im- possible to impose a guarantee on states who did not want it.

-On Other- Pages

PAGE 2-Lawn Bowls notės. Olymple Committee meet. Pairs tourney results. PAGE 3-Radio programmas The Services, Battleshipa for Ear East PAGE 5 Entertainments,

Crossword puzzle. FAGE 6-Newsettes. Registry

weddings Menn, PAGE 7-Peace Fledge Union mesting King's Birthday parade Pearl River "ship- ping. Bale of Work PAGE 8. Leading article: Long Live The King. Hello End Goodbye Coming

notes.

event

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Yea

Che cont

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