LET
US
SHOW
YOU
WHAT A DIFFERENCE A REALLY MODERN BATHROOM MAKES
Estimates and Specifications free.
C.E. WARREN & CO., LTD.-
Chlas Buliding.
SERIOUS NONNI RIVER FIGHTING.
Tet. 20269
ALLEGED ATTACK
BY CAVALRY.
JAPANESE DRIVE.
Skirmishing at Nonni Ri- ver continues while official Japanese reports declare that Chinese cavalry are now taking part in the activities and are making attacks,
Chinese reports from Harbin and other trouble centres all accuse the Japanese of initiating the offensive, while Japanese headquarters explain that their outposts at Nouni River are int contact with the Chinese posi tion.
These outposts
are equipped ; with three-inch guns which are reported to be busy, driving off the Heilungkiang cavalry which Are threatening the Зпралекс flanks.
Japanese Lownes,
Two skirmishes took place yea- terday, entailing a small Bumber af casualties, and bringing up the Japanese Сливен na Thursday, Friday and Saturday to killed and tan wounded.
seven
The fighting assumed more serious proportions on Sunday morning, when the Japanese command decided to dis- powe of the Chinese forces, and drove 4,000 of the Chinese
mounted fighters several miles to the north easi and captured the village of Chienkuanti, fifteen miles north- cast of Nonni Bridge. they have established an out
post.
The envanities resulting from this affray has not yet been re-j ported-enter."
Local Weather Furst
North-ea FroASONS
for The Swath
"Midtning Foxt, Loipet
1 & 3. Wyndham Street, Hongking,
The
Dollar on Demand:--la, 5.9/16d. TT. on New York:-27 Lighting-up Time:—5.40 p.m. High Water:-00.22 Low Waler:-8.56.
"
Hongkong Telegraph.
FOUNDED
NU 13,692
#O WATA-+XWE MONDAY, NOVEMBER 16, 1931.
HONGKONG
OPPOSED TO
CURRENCY
IMMEDIATE
STABILISATION.
IMPORTANT RECOMMENDATIONS FOR REFORM OF SYSTEM.
GOVERNMENT CONTROL OF SILVER RESERVE.
THE REPORT of the Commission appointed by the Secretary of State to enquire into and advise upon the question of Hongkong currency was released for publication this morning.
The various matters discussed are dealt with in considerable detail and as far as possible in non-technical language.
The Mission advises against the immediate #abilisation of the dollar, recom- mends important changes in the management of Hongkong's currency, and the establishment of a Currency Board for the Colony.
Among the responsibilities of the proposed Currency Board would be the creation of a Sterling Fund and the taking of other steps likely to render possible an immediate change-over from a silver to a gold currency should the change, in the future, be deemed necessary. The Mission strongly opposes the stabilisation of the dollar at a figure higher than the ruling rate when the change is effected.
CREATION OF STERLING FUND
Chinese
(d)
After a brief Introduction the remittances from
com- Commissioners give an account of monities overseas, Here
primary the events which led up to their production and smail trades und appointment formulate the industries in South Chinn, te) ex- problem under examination is the ports from South Chin following terms:-
Their conclusion is that, while (1) Whether it would be destabilization would facilitate the sirable to change the basin of conduct of certalo classes of Hongkong currency from silver to business Broad Lines for Settlement,
within the Colony, I gold.
would gravely prejudice the import Geneva, Nov. 16. (2) If it is not both desirable and export trade of South Ching It is felt in Geneva that theland practicable to make this change¦ennducted financed through Manchurian problem will have tow or in the immediate future, Honkong, which E The sbret. be attacked on broad lines. in what if any reforms in the exist-anchor of the Colony's prosperity. order to effect a settlement of the ing currency system should boland would affect injuriessly many, various questions 'connected with Jaclopted.
other branches of business; and the issue, which will naturally take some time--Renter.
GOLDEN WEDDING.
1:
preparation
taken in change-over to gold in the future,) if for instance China "went gold": oy for any other reason.
Against Immediate Stabilisation.
(3) notes to be convertible into
silver bullion;
(4) notes to be obtainable for
silver bullion;
(6) Government to take charge of the silver reserves of the notes issues;
16) silver bullion presented in
future in exchange for notes to be handed to thel Government,
DUNLOP
Reinforced Motor Cytis Tyres
日七初月十
$36 PER ANNUM
LOCAL BRANCH.
SINGLE COPY IS CENTE
MISSION'S
Padder Bids.
REPORT.
This picture of the Petersfieldwreck shows the Admiral's yacht hard on the rocke soon after ihs grounding. The vessel, as can basoen, steamed right into the bay. The black spock in the water at the left is one of the sɔip's boats, taking survivora ashore, A picture of the craft before the disaster is given on the Back Page.
THE SCORE BOARD. SHANGHAI LEAD BY
DETAILS UP TO THE
The
TIFFIN SPELL.
Якотер in the interport Match as appended:
Hongkong-1st. Innings.
O. G. Simpson, b Leach
E. G. Finchor, Ib.w, Booth
Lieut. A. H. Musson, e Madur, b
Booth
Lleut. A .C. Hamilton
Booth
H. Owen Hughes, e Wilson b
Lonch...
T. E. Pearce, b Leach
Lieut. J. K. MacFarlan, b Booth J. E. Richardson, e Wilson, b
Leach
F. D. Pereira, b Leach ... A. Reid, e Coward. b Booth A. C. I. Bawker, not out
Extras
Total
.24
138
(7) a Hongkong Currency Board 38, 2 (Musson), for 67; 3 (Fincher)
Fall of wickets: 1 (Simpson) for]
to be set up.
Token Coins,
for 68 4 (Hamilton) for 109; 6 (Owen Hughes) for 117; 6 (Pearce) for 120: 7 (MacFarlan) for 124; 8:
10 (Reid) for 138. (Perelea) for 120; 9 (Richardson) for
Wilson
Bowling Analysis.
• 0.
M
9
&
17 1
G
Booth
13.2
B
Shanghal-bxt Innings.
R. W.
នូវធន
City What if any steps should be they therefore advise against it. of proposals relating to coin and
They then give. further detail
H.K. Currency's Position. make a suggestion that the existi
jing issue of silver subsidiary coins The Commissioners next describe should be withdrawn and replaced. the present currency system of by an issue of base-metal token Hongkong and point out that it coins and then follow further each must be considered in its relations details of thejr proposals relating Madar As regards 11 they first con-to the currency systems of China. to notes. sider the general arguments put After some remarks on the use! forward in favour of stabilization of Hongkong currency in China mendations for the accumulation
The Mission next make recom and come to the conclusion that by they give an account of the fune of a sterling fund by the Currency is. R. Kermani, e Ówen Hughes, b Sir Robert and Lady To Tuns far the most important matter to tions of the Hongkong dollar as Board with the object of prepar- are celebrating their Galden Wed-be considered in determining the an exchange currency and drawing for the ultimate conversion of P. V. Simpson, J.b.w., Bowker ding anniversary on Wednesday, desirability or otherwise of chang- special attention to the fact that tangkong currency to a gold basis, P. Madar, b Reid... December 2, when a receptions in ing Hongkong currenev to a gold supplies the lack of a fully de- if and when it appears desirable. A. J. Barson, being given at the Peninsula Hotel, standard is the effect which such veloped exchange
SIR ROBENT AND LADY HỌ TUNG.
Kowloon.
TWO TYPHOONS ABOUT.
currency in
a change might be expected to parts of South China. produce on the trade and financial
business of the Colony.
Defects of Present System.
some mis-
Richardson
Richardson
ZA
27
BL
MacFarlan, b
凸
Banking Legislation.
H. A. Coward, e Pearce, b Musson D. W. Leach, c. Simpson, b Finally they offer
Richardson... They accordingly examine the
cellaneous observations On the R. Booth, b Bowker effect of stabilization
They then describe what seem rate at which оп the
the dollar should C. J. Merritt, b Bowker to be the defects of the present ultimately be stabilized on the B. V. Murray not out business of Hongkong. (1) as a
and make the question of a The Royal Observatory reporta|| port, (2) as a place of law and or-currency system that the typhoon appears in bej der and a city of refuge, (3) ns a following proposals for its re-note issue, on the need for bank-T. W. R. Wilson, e Owen Hughes,
parallel sterling A. Isaacs, b Hamilton about 500 miles cast of Aparri producing centre, (4) as a man-
ing legislation in the Colony; and
Hamilton moving N.E. There are indien-cial and trading centre, breaking (1) the legal tender status of on the fixation of bullion points tions of another forming near up the subject matter of (4) in its
the dollar coin to be limited under their scheme and its effects Gum. The antieylone over North turn into & honds:-(n) imports
to $10;
jon exchange speculation. China has strengthened and spread into South China, (b) trade be-
Following are extracts from the southward.
tween North and South China, (c)
report, inchiding the main recom mendations:-
form:-
(2) bank-notes to be made. un-
limited legal tender;
A remarkable picture of H. M.S. Petersfibid, taken a few hours after she had struck the rooks at
·Tung-Yung-laland. It gives a vivid Impression of the rough weather conditione prevalling and sharwy the superstructure of the doomed ship, practically submerged. Nela the Big Nyingi
To stabilize er not to stabilize"
b
Extras
Totul
50
99 RUNS.
DONALD LEACH BATS FINELY FOR 59: BOWKER IN FORM.
HONGKONG'S BIG TASK.
SOME WONDERFUL keen cricket was seen in the
Interport this morning. At the tiffin adjournment, Hongkong had partially retrieved the serious position in which they found themselves on Saturday evening, Shanghai's last six wickets falling for an addition of 109 runs.
Shanghai thus led by 99 runs on the first innings, an advantage which was reduced to 82 by Simpson and Fincher who obtained 17 runs without loss before the teams went in to tiffin.
Bowker bowled with marked success, "coming off" at a critical time, while Hamilton finished off the Shanghai innings quickly on being put on, and returned an analysis of two wickets for five runs.
THIS MORNING'S PLAY DESCRIBED.
Lench (21) and Madar (81), the the same
time, twenty eight
not outs found the wicket some- minutes after the resumption this
F what faster than on Saturday morning.
Bowker opened from the Naval
With four to the leg boundary
Yard end to Leach, who was con- from Bowker, Merritt scat up 160
adoraine minutes later.
tent to play himself in. Madar Bfaced Reid, who with his fourth 24 delivery dislodged the batsman's 21 stumps with a well pitched up leg freak. Madar, who went in first 4icket down on Saturday played a 27 patient innings after a shaky start.
128-6-31,
247
Fall of Wickets; 1/58; 2/63; 3/65;| 4/103; 6/128; 6/137; 7/157;} K/195; 0/233; 10/237. Bowling Analysis,
is to-day probably one of the most widely-debated questions in Hong-Pereira kong, affecting as it does, directly Reid or indirectly, the fortunes of nearly Hamilton every section of the community.
Conversion Argument.
Owen Hughes Richardson
Bowker
The argument for conversion to Masson
a gold basis is sometimes based on
the view that gold is the only true;
measure of value. This
0. M. R.
13 A 30
Owen Hughes Drops Booth.
Stumping Missed.
Pearce just missed stumping wicket down but missing the ball. Merritt off Reid, putting the Bowker bowled his third maiden in seven overa to Leach after Rold had conceded a single, the batsmen
Booth joined his captain, and playing the bowling with great offered Owen Hughes a catch at also a maiden, Leneli refusing to caution. Rold's next over was second slips off the first ball he take any risks.
wreceived but the fielder made, hie
19 3 40
i
second nilsjudgment of the match.
Lench made the opening run of
4.3 3 k 2 the day, hitting to cover off a full 5 -1 31 Loan from Bowker. Scoring was
14 1 48 3
20 4 42
5 悲 8
Hongkong.-2nd Innings,
propost-Simpson not aut
tion muy not always have been Fincher not out stated in so brief and absolute a Extras
form, but I would seem to have
been tacitly assumed as true
by:
expressed
Reveral writers in the press, and the opinion has been that silver, being a commodity. Is not suitable basis for a
mone- tary system. While, however, all- vor is only a commodity. In terms
of a gold currency, It may equally
well be said that gold is only a com. modity in terms of a sliver cur
Few Poncy.
dony would
the
Total (for wicket).
LATEST SCORE.
At 2.10 p.m. the score war!-
31 for 0 wkt.
1
Dult Play.
The next fifteen minutes aw Shanghai playing duil cricket The
the on slow side, the first ten scoring but seven runn.
3 minutes producing but two runs to fielding, however, was exception- send 180 up, the innings having ally good several runs being been in progress two hours and saved. With the fifth ball of hla 25 minutes.
ninth ovor Bowker clean bowlod down another Merritt-157-7-8.
J
11
Bowker sent
maiden to Loach and during Reid's. A single off Roid to long field third, Booth pulled him to lek for gavo Lench 40. Murray kept two, A short ball from Bowker's everything off his wicket but left. 17 next over was pulled to the Ladies' the wide balls entirely alone. A Pavilion by by Leach, After protty shot by Leach past point Leach scored a single to third to the publle stands off Bowker | manageme
made the score 162 in three hours and ten minutes
Leach's Fifty.
Booth Bowled.
Booth had his off stump knocked out of the ground by Bowker. Rold conceded four byes and a The second wicket fell twenty four by Lench to the Pavilion BBW minutes after the start.-187-6-2170 go up. Or Rold's fifth do- Merritt partnored Leach, who livery the Shanghai captafa pulled.
general proposition that gold is try from a silver to a gold bisls incoming botsman defended the bowler to Queen's Road and version of the currency of a coun-played a maiden off Reid, while the wit: Invariably be to its advantage, bornly against Bowker until a leg tribution past the half century was applauded on taking his con.. De-Stabilization.
ball was glanced for two to pasa mark. Hongkong's score.
After Bowker had been Leach regle bowling for an hour, he was taken: tered his 30 with a four of Reid off in favour of Pereira, whose past point, 140 being signalled ́nt (Continued on Page,2,3),..
the most satisfactory measure of value which the world has yet found, but it cannot be accepted na self-evident that gold is always and for all countries the most satis- factory measure, or that the con-
It in partinent to observe that
(Continued on Page 7.)
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