1930-03-31 — Page 1

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Dollar on Demand:-1/5,15/16d; Lighting-up Time:- High Water:-10.27 pm.

Hongkong Telegraph.

Tal. C. 269.

FOUNDED IM 10. 23,653

# XE MONDAY, MARCH 31, 1930.

日二月三

136 PER ANTUN

DUFT-19 CERTI

British and Best

KEMMERER REPORT EMPLOYMENT AT THE TRUTH ABOUT SHANGHAI STRIKE JOURNALISTS WIN QUEST FOR NAVAL

.

PROPOSALS.

CHINA URGED TO ADOPT

GOLD STANDARD.

DOCK CO.

INCREASE NOT QUITE.

UP TO HOPES.

BUILDING OF MARINE MOTORS CONTEMPLATED,

EXPERTS WORK OUT SCHEME TO BIG STOCK TURN-OVER.

LAST DETAILS.

SILVER A HANDICAP.

Of special interest to Hongkong in view of the appointment of the Currency Committee which will investigate, among other things, the question of the stabilisation of the Hong. Kong dollar, the Report of the Kemmerer Commission of American financial experts, on China's currency, has just been "issued for publication.

Headed by Mr. Edwin Walter Kemmerer, a world-famous economist and financial expert, the Commission urges the early introduction of a gold standard in China, and makes special recommendations regarding its manner of introduction without unduly disturbing the existing relations of trade.

The Report is a lengthy document running into 208 pages, and it was presented to Mr. T. V. Soong in November last. It has been published by the National Government without comment.

A new coin is suggested, to be called a "sun" and its basis will be gold of a weight making it worth 40 cents of the U.S. Dollar, and 1/7.72-in sterling.

"SUN" SUGGESTED AS NEW COIN.

Shanghai, Mar, 29. lationship between debtors and The Report of the Kemmerer creditors.

If an individual, for example, re- Commission as submitted in Novem- ber last to His Excellency, Mr. T.ceives 100 dollars a month on the V. Soong, Minister of Finance, has présent basis he would presumably receive 100 suns a month on the just been published.

gold basis, and where an article now coats him one dollar it would presumably then cost him one

The Commission spent the whole of 1929 in China Investigating

financial conditiona

"sun."

The advent of motor ship building in Hongkong has not had quite the expected effect in the employment of the various departments of the Hongkong and Whampoa Dock Company, Ltd., stated the Hon. Mr. B. D. F. Beith, when presiding at the annual meeting of the Company, at Queen's Buildings this morn- ing. He added that the ad- visability of building marine motors themselves would have to be considered in the future.

Shareholders were assured that during the lean years the Company experiencing, all efforts are being made to study economy in every possible way consistent with efficiency and reasonable progress

+ Chairman's Speech. The Chairman maid Gentle men,The reports and accounts for the year 1929 having been in your possession for the past two weeks, I will, with your permis- sion, follow the usual procedurc and take them as read.

The gross profit, you will observe, is about $230,000 better than the previous year, which, while regretting we cannot recom- mend the payment of a dividend, keeping in view present conditions in shipping and shipbuilding the world over. I trust, shareholders will consider reasonably satisfac- tory.

GUJERAL

GANDHI'S REPORTED SUCCESS EXAGGERATED

OFFICIAL ACCOUNT.

Bombay, Mar. 30. The Government of India has Issued a communique in reference to the exaggerated reports of large acale resignations by public officialá in Guferat,

The Government states definite- ly that the reported big scale “of resignations of village officers re- sulting from Gandhi's civil dis obedience campaign in the Gujerat arçâ, are exaggerated

THREATENED.

CARGO COOLIES LIKELY TO STOP WORK.

MOVEMENT ATTRIBUTED TO POLITICAL AGITATION.

LATEST WAR REPORTS.

AT SPELLING.

IN COMPETITION WITH US. CONGRESSMEN.

RELIEF FROM ROUTINE.

FORMULA.

CONFERENCE TALKS CONTINUE

NEW IMPASSE REPORTED TO HAVE ARISEN:

HEADS MEET TO-DAY..

London, Mar, 30. Although it is not yet clear whether any development in the Naval Conference situation will.

Washington, Mar. 20. “Apparently arranged as a diver- sion from the routine of politics. members of the United States Con- gress were worsted last night in a spelling contest between the members of Congress and news- paper correspondents in Washing- Shanghai, Mar. 30.

ton. Political agitation against the

The champions submitted by National Government and the Congress for competition were ob- Chiang Kai-shek regime is un-liged to retire one by one before Only one talati (village accoun-derstood to be behind a contem-such stumbling-blocks of spelling emerge from the new efforts the tant) and seventy-fout patels (vil-plated strike by Chinese labour such as eleemosynary" "refer delegates showed no disposal lage headmen andrrevenue collec- ers at Shanghai which, if it able" and "stalactite.”

to relax their attention on the tora) have resigned, and many of materialises, will involve some these have since sought revocation 10,000 cargo coolies working on the Congress representatives broke problems before them during the

the Band. Shipping circles are down at a very simple word, the week-end, Others despite their alleged re-apprehensive.

spelling of "kimono." He gave it The Foreign Secretary, Mr. anal "" instead of an "o." Henderson, who lunched with M. Unconfirmed reports say that

The Washington correspondent Briand on Saturday, afterwards signations, are still carrying on

five thousand of the coolies have of the leading New York news had a long conversation with him. their duties.

already walked out. Communists papers was finally crowned "Cham-which it was arranged to continue- and Kuomintang extremists, who pion Speller of the United States." later. are opposed to Maranal Chiang

are understood to ro Kai-shek

directing the strike movement and are said to be arousing discontent amongst the labourers.

of their resignations,

What is even more important is that most of the resignations have not been given voluntarily, but have been obtained by local in timidation,

the such as

fusal of, water, notices of eviction from their houses, and other simi- Jar inducements --Reuter,

CREDITORS TO ASSIST MADAME HANAU.

PROVIDING BIG BHARE OF

BAIL FIGURE.

Esia, Mar. 80. Madame Kauai, who caused a sensation by escaping from a hospital and returning to prison after hunger striking for a long period, has been provisionally re- leased on bail of 800,000 franes.

She

protested against

be

The last surviving member of

This strange contest was broad. At the same time, Signor Grandi cast throughout the country. Awas meeting Senator Robinson, of bell was rung near the microphone the United States delegation, and whenever a competitor made a misto day he went to Chequers, where take.-Reuter's American Service, he lunched and talked with the:

[Simplised spelling agitation in Frime Minister, Congress would appear to be a possible development-Ed]__

Mr. Ramsay MacDonald came to London to-night and will be present at to-morrow' morning's' meeting of the heads of all the

Troop Movements, Considerable troop movements took place at Hankow during the week-end. Eight, thousand Nationalist troops, with explosive THERE ACCIDENTS AT delegations. mines, left for Siangyang on the Hupah-Honan frontiers.

The mines are to be placed in districts some forty miles from Hankow along the Peking-Hankow Railway, where the Nationalist forces are entrenching.

Extremist Activities.

arki

TAIKOO.

VICTIMS ALL SENT TO

-HOSPITAL

Meanwhile, the advisers of the British and French delegations have continued their informal meetings at which they have jointly explored methods of clt- cumventing the apparent deadlock Three accidents occured at tients recent stages, British which confronted the Conference Taikoo Docks yesterday, all the

Wireless.

Filling a Gap.

Later

Kuomintang extremists, includ-victims being removed. for treat- the ing Messrs. Chan Kung poh and ment to the Government Civil Hos amount of ball which, she de Wang Fah-chun, are extremely pital..

Cheung Sing, a coolie, suffered Turning to the accounts, you will notice interest charges

are clares, prevents her release. She active at Peking in disseminating

anti-Chiang Injuries to the right hand when it The Naval Conference, la con- the кате as practically

the says she has given up all her anti-Nanking.

moning conferences of discon-of two trucks; Mah Yiu, another formals which will fill the gap previous year and come to the very property to her creditors and Kai-shek propaganda and sum- was crushed between the buffers tinuing its attempt to ind

coolic, was accidentally, struck in between the somewhat vague nearly had nothing left.

She has, however, abandoned tented Kuomintang followers.

The Kuomintang extremists are the face with a hammer; and a phraseology of Article Sixteen of her hunger strike:

preparing a lengthy proclamation third case was that of Lo Ying, the Covenant of the League of Commis- aged 48 years, a paint-scraper, Nations, and France's definite inviting Kuomintang' Madame Hanau's friends are likely to furnish half a million 'sioners who attended the First who fractured his skull in falling demand for security into return francs towards her ball figure, and and Second Plenary Sessions to from a staging, a height of some for a reduction in her naval build- her Gazette du Franc creditors have proceed to Peking.. A copy of the five feet, whilst carrying out working figures.

Marshal Yen Hsi-shan for his undertaken to provide the balance. proclamation has been sent to on the Mashima Maru.

Reuter.

approval.

considerable

of Aut $418,000, The Report, after laying down a

Stock in hand amounts to Project of Law for the gradual in

Silver Coins. To Stay.

against $1,914,- $2,046,139.33 as troduction of a gold currency sya- tem, gives an historical sketch and "The project provides for silver 546.88 at the end of 1928. It is report on the present conditions coins of one sun, 50 cents and 20 interesting to note that even in of currency, followed by a scheme cents; nickel coins of 10 cents and a comparatively quiet year such as 15 cents; and copper coins of 1we have had, the general stock cent, 1⁄2 cent and 1/5 cent. The turned over was about 60% of the smallest copper coin is not to be total which is sufficient evidence It also contains an explanation minted unless an urgent need for of its quality and market value. at some length, of specific provi- such a coin appears.

Widening of Dock. sions of the gold-standard project, The Project does not provide

for its reform. --

Important Appendices.

with relevant appendices concern- for the minting of gold coins. The indebtedness to our bankers

which

Later.

DIPLOMATS IN PANIC

- ON MOTORBOAT.

Additions to ing exchange rates, silver and the The gold standard does not re- is slightly less.

come to about $227,000, circulation of coins and paper-quire the coinage or circulation of plant money throughout the country. gold, and most countries to-day on which is mostly the amount spent

Dealing with the proposed gold the gold standard do not have gold in widening our No. 1 Dock to NINE DROWNED IN BALKANS

coins in active circulation. standard, the report says:

which I referred last year. This

DISASTER. which "Currency reform,

is The project provides, however, work, I am pleased to tell you, la

Belgrade, Mar. 30. urgently needed in China, should for the maintenance of the parity making good progress and should

During a sudden storm on Lake involve two things: the replacement of all coins with the value of a fix-be completed well before the end

Ochrida, a motor boat carrying a of the present confused currencies ed gold unit, and, provides a me- of this year. by a uniform and nationwide cur-chanism whereby the amount of

Depreciation amounts to over party of Jugo-Slavian diplomata is considered and their wives on a pleasure trip, rency system, and the introduction currency in circulation will vary in $148,000,

the ample. Your buildings and plant developed engine trouble and of the gold standard.

the same manner

and the stopped. The chaotic condition of China's amount of currency varies in are in excellent order

The passengers, alarmed at the currency is a serious handleap to such countries as the United upkeep of same has been paid for

rocking of the boat in the storm, trade and to the development and States or Great Britain as out of revenue.

No bad debts were incurred gradually became panic-stricken, prosperity of the country.

a result of actual imports and ex- China is the only important ports of gold. The proposed sys- during the year while the out-and-many of them jumped into the country to-day upon the silver tem thus provides the essential standings at 31st December have lake and tried to win the two

features of the gold standard, but since practically all been collected hundred yards to the shore. without the coinage or circulation The remaining unpaid accounts

are good. of gold."

standard.

1.. Silver a Handicap.

The silver standard is a great handicap to Chins, particularly in'

the disturbing effect it has upon

Fiduciary Coins.

هد

"All of the coins, including the the country's foreign trade, and silver sun, are to be fiduciary, and

in the difficulties it creates in the maintained at a parity with gold

During the year our establish- ments were only reasonably well employed.

New Tonnage,

Nine were drowned, only two reaching the shore alive.-Reuter.

DEATH OF MR. R. G. SHAW.

Marshal Yen is understood to be assuming his new post as Commander-in-Chief of the anti- Nationalist forces some time this

PRINCE SAIONJI VERY ILL.

week. This may synchronize with LAST SURVIVOR OF THE

"GENRO." an announcement of hostilities against Nationalist forces in Honan and Shantung.

expressed

While it is recognised that the task of the experts is an extremely difficult one, there is always 571 possibility of obtaining in de Anition capable of satisfying everyone concerned.

"It Is with this hope that the discussions are proceeding and Article Sixteen is being Tory closely examined.

were

Tokyo, Mar. 31.

* To-day's': developmenta The aged Prince Saionji, the few, consisting of conversations Mr. Soung's Statement. last survivor of the "Genro," a between Mr. Ramsay MacDonald brilliant group of Elder States and Signor Grandi,the chief The Finance Minister, Mr. T. V men, who has been indisposed for Italian delegate, at Chequers, in Soong, returned to Nanking this the past few days, has taken a regard to Italy's interest in any the turn for the worse. Pneumonia new definition of Article Sixteen morning and opinion that Marshal Chiang Kai- has set in...

and in the discussions for a satis- shek has the Northern revolt well Owing to the advanced age of factory formula

M in hand. The Nationalist forces, this "power behind the Throne." said Mr. Soong, would "Crush the considerable anxiety is felt Shanal-Krominchun allies

who Reuter. were seriously handicapped "on account of lack of arms, ammuni- tion and transportation facilities.

Marshal and Madame Chiang Kalahek and Vice-Admiral Chan Shao-kuan arrived at Hangchow yesterday and will witness the All-China Sports Meeting.

Shansi Claim, '

PALESTINE ARABS

IN LONDON,

DELEGATION TO MEET LORD PASSFIELD.

London, Mar. 30, The Palestine Arab delegation Peking, Mar, 80, reached London to-night.

It is headed by Musa Kazim | The Shansi fóress claim to have

Pasha and includes also the Grund noon, Han Fu-chu's forces retreat-Mufti and the Mayor of Jerusalem, It will see Lord Passfield early ing north-westwards-Reuter.

In the coming week. British Wireless.

management of the Government's by means of unlimited redemption A number of new ships, all small. finances, since government receipta in drafts

on gold-standard coun-in tonnage, were constructed, but are almost wholly in terms of silver, trics, or in gold bars, at the option the advent of motor shipbuilding FORMER HUSBAND OF LADY captured Kaifeng yesterday after- while a large part of the payments of the Government. Although the in Hongkong of which we con- are fixed in terms of gold."

Project gives the Government the structed several with importéd

gold currency system.

-New Coin Suggested,

Part I is to consist of gold and

Studying Economy.

PASTORLUDE

New York Mar. 20. The report provides for the option of redemption in gold bars, motors did not keep some of our

The death ib'announced.of Mr. gradual introduction of a qualified it is expected that this form of re- departments as well employed as form of the gold-exchange standard, demption will be rarely if ever they should be. The advisability Robert Gould Shaw, the first hus and arranges for the permanent used."

of building marine motors our-band of Lady Astor, from whom retirement from' circulation.of the In order to provide for redemp-selves will have to be considered he was divorced in 1903, when he married Miss Mary Conyerse, a various monies now in use, thus giv- tion and to provide for the sale in the future, Jng China a national and uniform abroad of' drafts payable in Chin- Docking and repair work was member of a well-known Boston

ese money, a gold-standard trust fair, but with the exception of family. Be fund is to be established, one or two largish Jobs nothing Mr. Shaw was a prominent The Fund is to amount to at least very much out of our ordinary sportsman and an enthusiastic The new gold currency unit, for 35 per cent of the value of the routine offered itself or was polo player-Reuter's American

Service. which the name "sun" has been coins in circulation, and is to be obtainable. suggested, is to contain 60, 1806 divided into two parta centigrams of pure gold and, there fore, to have a value equivalent to certain kinds of foreign credita I can assure shareholders that 40 cents in United States currency payable in gold. Part II la to con during these lean years we are 82.50 G$1.00), to 1/7.7265d. Bist of gold-standard coins in China, pasieng through, all efforts are be- sterling, and to 0.8025 Japanese and metal purchased for comageing made to study economy in

AIRMAN LEAVES-SHANGHAI gold yer

purposes,

every possible way consistent with

"FOR SEOUL This unit was selected largely be

Purposes of Fund, efficiency and reasonable progress. would like to thank our staff, cause it is of practically the same

Shanghai Mar. 31 value, in terms of gold, as the silver

Part I will be held in two or both European and Chinese for

Mr. Van Lear Black, the million dollars now current in most parts three foreign financial centres, at their loyal service during the past

aire newspaper owner, took off at of China The shift from the pre-the outset probably only in New year sent silver unit to a gold unit of York and London, and will I do not think there is anything 8,58 am today on resimning his approximately the same value earn interest for the Govern-more calling for comment add 1 light of Shoald Involve little if

if any dietur-

ment. This part of the Fund is to now beg to propose the adoption Bé 18 malding for Oaska via wages and the rege (Continued on Pag

VAN LEAR BLACK FLIGHT:

·RECENT MALARIA

LECTURE.

SUGGESTED MATERIAL FOR HEALTH PROPAGANDA.

INTER-ARMY RUGGER,

BRITAIN BEATS, FRANCE

IN PARIS.

Paris, Mar. 20.

It was officially stated to day by a British spokesman that Britalo, emphatically, fa anrique. to do her utmost for peace, but further military commitments are absolutely impossible.

The British delegation to the Conference met at No. 10, Down- ing Street to-night on the return of the Prime Minister from Chequere

Reuter

A New Crisig

London, Mar 31 The newspapers give promin ence to reports of a new crials at the Naval Conference,

They declare that the British and French experts who have been searching for a formula to recor cile the British and French view points have reached a complete deadlock-Router.

· Describing himself as a pries an elderly Chinese appeared In the annual rügger match before Mr, Whyte Smith at the Koy

At to-morrow's meeting of the Sanitary Board, the Hon. Mr. J. F.tween the British and French loon Magistracy this morning

Armies played to-day, the British a charge of hawking medicina Braga, will ask;

Wil the Government undertake Army won by five points to nil the translating Into Chinese of the Reuter. recent lecture delivered by the Honourable the Director of Medi

cal and Sanitary Services-on the subject of malaria 7

FINE TO CLOUDY.

without a licence.

In answer to the charge, the fendant said he was not conver- sant with the local reg

EP. C. Farrelt Informed his W

ship that the defendant claimed to be a Taolst priest

The Royal Observatory reports Will the Government cause to be that an area of high pressure ex- printed, in separate pamphlet tends from the Yangtaze Valley to His Worship pointed out to the forms, in English and Chinese, the South Manchuria AV-shaped de defendant that he could not hawk said lecture for distribution at pression. Hes over the Loochoos without a licence, even if he wore such times and to such persons and and a erdall shallow depression is a priest In view of the fact that educational and other institutione central near Tourane. The local

as may be considered most benefiForecast til noon to mo clal in connexion with Health Nors Propaganda in the Colony

azai

Foldyman, he would be

but he were arrested

ld not expect his age