1932-02-27 — Page 1

The

NEW

SUPER - MODERN

SPARTONS

IDRAL Ranin RVICE.

DIATRIBUTOR

Tel. 27000.

HONCKONG HOTEL GARAGE.·

Manager Hongkong Telegraph".

for The Seulk China Morning Post, Lid/

1 & 5, Wyndham Street, Hongkong.

Thongkong Telegraph.

SPECIAL EDITION:

FEBRUARY 27TH 1932

JAPANESE APPARENTLY

STARTLING LETTER

TO THE "TIMES".

JAPANESE PEERS REPLY TO LORD CECIL.

London, Feb. 27.

A remarkable letter, half a column in length. cabled from Tokyo and referring to the stun tion in Shanghai, is given con- siderable prominence in this: morning's isane of The Times,

The letter I signed by Vlaenunt Ishii, Prince Tokugawa. Baron Wakatsuki, Baron Sakatani, Baron Malaui, and Baron Takuma Dan.

Britona Urge.

and

It is in the nature of a reply to A letter in the Times dated February 18, signed by Lord Crell and others, including Sir James Salter, Sir Charles Addis, Professor Gilbert Murray, urging diplomalle und economic pressure to compel Japan to respect the; collective system of the sanctity | of treaties.

The Japanese leaders reply that it is not because China is weak. hut because she la the subject of Ineffective central control

BD

that the prosent deplorable posi-¡ tion has arisen.

Are

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Sheer Self-Defence.

Japan acts in sheer self-defence against the Chinese militarists, whose only principles overcome rival chieftains and gratify their personal greed and ambition. They are not concerned'; with the welfare of their country- men or with peace in the Far East. Japan' Altacked.

The letter continuus:

The amazing assertion that Japan is launched upon a course of military danrination of Chinese territories, would be laughable if it was not so mischievously dangerous and ill-timed.

. Both in Shanghai and Mun- churia, the Japanese forces have leofully defended their position when aggressively attacked.

Japan has not done more than other Powers who have repBed at- tacks by Chinese militaritists by military operations on Chinese Boil.

"Imaginary" China.

LARGE REINFORCEMENTS NOW ARRIVING.

TO BE LANDED IN INTERNATIONAL

SETTLEMENT.

TROOPS NOW SUFFERING ACUTE

DISCOMFORTS.

(FROM OUR OWN CORRESPONDENT), SHANGHAI, Feb. 27, 4.15 p.m.

FINAL

TEN CENTS.

THE

Library Supine RANCIS

DEFYING

HOTEL.

MØDERN LOUNGES & RESTROOMS HIGH CLASS CATERING.

UNDER THE

PERSONAL SUPERVISION OF

ALPHONSE ·

POWERS

RACE MEETING UNWISE TO CHANGE

CONCLUDES.

GOOD ATTENDANCE AT

VALLEY.

TO-DAY'S RESULTS.

Despite the cold and damp wea ther, there was a good attendance at the final day of the Race Meet- ing this afternoon. Amonet those; present were II.E. the Governor And Lady Peel, with whom were tl new Governor-General of thei Philippines, Colonel Roosevelt, Mr. Roosevelt and party.

Some good racing was witnessed. and backers were able to ket satis-

their factory returns on

Invest- ments.

For the Professional Cup and Subcription Grillins' Champions. there was a field of seven, Racing| Boy (Mr. Chung up) coming in comfortably three lengths nhead of Siwash.

The NH Desperandum Stakes. 5200. For Chinn Panies, Subsintion --Winner $750. Second $300.

Third Griffins of this Club of this Meeting

THE TRENCHES ON THE KIANGWAN FRONT HAVE BEEN CONVERTED INTO QUAGMIRES BY A STEADY DOWN- POUR OF RAIN AND THE TROOPS ON BOTH SIDES ARE SUFFERING ACUTE DISCOMFORT. THE WRETCHED CON- DITIONS, TOGETHER WITH THE JAPANESE ABANDONMENT OF THEIR ATTEMPT TO SMASH THROUGH WITH THE TROOPS AT PRESENT AT THEIR DISPOSAL,

Mr. E. L. Hosie's Philanderer HAVE MINIMISED OPERATIONS TO-DAY.

(Mr. Clark) 1. Messrs. Lewis & Tinson's de

Bone

(Mr. Wonk) 2. Messrs. Swatow & Pakhol's

Chịu Quan

(Mr. L) 3. Twenty-one startera. Won by two lengths: lengths.

-Large Japanese reinforcements are now nearing unghai with thousands of fresh troops, it would appear from the arrangements which have been made by the Japanese Command for bringing them into action, that Japan is paying no attention to the demands presented in Tokyo yesterday by the British Am- barsador, supported by the French, Italian and American Ambassadors.

Two transports, the Florida Maru and the Amur Maru are due at the Woo- sung Pilot Station early to-morrow morning, and it has been arranged for the Florida Maru to discharge ner contingents at the 0). S. K. Wharf and for the Amur Maru to discharge at the South Manchurian kailway Company's wharf. Both of the wharves are.in the international Settlement.

Another transport, the Mikasa Maru is due on, Monday. This vessel will also perth at the South Man- churian Railway Wharf. She carries few troops, but is loaded to her capacity with war stores, including large supplies of ammunition for heavy guns.

ARTILLERY ACTIVE.

Artillery on both sides have been fairly active to day, but owing to the weather conditions, few zero- planes have been up.

CASH SWEEPS.

LUCKY NUMBERS AT THE RACES..

No. 44

463 1426

lut, Race,

$1.212.40

Uuplaced 'ruanera'

316.40 173.20

+

(50 each)

Pari-mutuel:-Winner,

thres

H.K. CURRENCY.

BANK CHAIRMAN'S COMPREHENSIVE REVIEW OF WORLD TRADE.

CHINA'S "RED" MENACE.

"It would be witer to let well alone in the matter of currency," declared the Hon. Mr. C. G. S. Mackis, Chairman, speaking at the annual general meeting of the Hongkong and Shanghai Banking Corporation this morning on the report of the Hongkong Currency Com- mission. "I cannot think that it would be wise to depart from the present currency."

In a comprehensive review of the trade and financial conditions of the world, Mr. Mackie touched on the many abnormal circumstances obtaining in all countries, and expressed deep concern at the struggle between China and Japan at Shanghai.

Mr. Mackie sald:-Before proceed-¡ decline of about tä million and our that have start: at least twice and ing with the business of this meeting, ability on bills rediscounted in re- have nut won. Weight for inches as I would refer with the deepeat regret | duced by over £1 million, which is not por scale, Jockey Allowance). One to the loss we have sustained since a very healthy sign. of the times. Mile.

last we met through the death of Sir

Local Currency Problem. Newton Stabb. As many of you will remember, Sir Newton' was Chief

Since our last Annual Heating the Manager of the Bank from 1910 to British Government sent out a small the end of 1020 when he went hand Commitice to look into our currency on leave; during 1021 he took over problems and their report was publish. charge of London office, where he reed towards the end of the year. mained until his untimely death on Without going into details I would 1st December fast. In the City of merely say that I think it would be London where are so many men of wiser to let well alone in this matter note, it is no exaggeration to stato |«f currency, The high premium on Time: 2 min 11.2/5 secs that in the Banking World, Sir New our dollar which raised the discusion on was outstanding' and conspicuous has not beef in evidence during the $12.80. for his ability. He was over ready to past year, neither is it likely to recur, Places. $7: $33.80; 11.

help both by word and deed, and not so I cannot think it would be wise to 2.-The Nil Desperandom Stakes connected with business affairs in the depart from

only have the City of London and all (Second S:ction)-Winner $760,

a currency which is Second $300. Third $200. For China viser but all, who knew him have one, the utility of which must be Fast lost an extraordinary able ad-¡ functioning satisfactorily in favour of Ponfes, Subseription Griffins of this Club of this Meeling that have started

Just a staunch friend.

problematient for quite a long period. nt least twice and hay enot Won.

The Report and Statement of Ac-¦ It has not been customary for the Weight for inches as per

scale. counts having been in your hands for Chairman at these annual meetings to (Jockey Allowance). One Mile. kome days I shall, with your permis- make more than a passing re

sian, take them as read,

ference to international financial Messrs. Lewis & Tuson's Cr-

It will probably not come as a Rurjeet of so much expert analysis and economic developments--the sub- *pftའ

(Mr. Wong) 1prise that the figures we are able to Mrs. Priestley's Banjolina

and highly put before you are not no satisfactory in the speeches delivered

informed comment (Mr. Heard as you have been accustomed to; after the heads of the loading banks at by Mr. L.T.F's Gold Bar

making full provision for losses and (Jr. "Treg) Twenty-three starters, Woil

by four lengths: lengths.

Time: 2 min. 11-2/5 nech. Pari-mutuel:-Winner, $12.20. Pinces, $7.10; $22.20; $7.60.

two

.

contingencies, the net profits for the home. The welfare of an exchange year amount to $10,100,161. De about bank such as our own is, however. four and a quarter million dollars less no more exempt from the influence of warld conditions than that of those than in 1930, while expressed in ster ether banking Institutions, and at a ling the show a decrease of slut time of such profound disturbanes as £200,000.

the present I feel that a few remarka After deducting the interim divi- are called for. dend, paid at 1/04 and Directora

ས་་

I shall refrain from quoting statis-

Last night, the Japanese Military headquarters issued a claim that Kiangwan Village had at last fallen into their hands, and that numbers of prisoners had Nos. 291, 583, 184. 244. 08, 128, "A" Clans, Winner $750. Second for distribution in $10,593,772.02 which ed to illustrate a state of affairs only 3. The Griffes Spring Handicap. remuneration, the amount available ties which, in any cake, are not notd. heen taken.

1245, 148, 109, 209. 206. 80, 97.8300. Third $200. For Ching it follows:sed to

126.

64. 433, 151, 627.

CHINESE HOLD ON.

The

attack launched towards Tazang generaus, hust ignorant.

this morning was abandoned sympathy with. an imaginary"

A trip along the Chinese finestone with unexpected fierce Chins, is the greatest danger to by a military observer this mor. ille and mechine-gun fire.

ning revy ded that the Chinese are inability of aeroplanes to do any all the [still holdog Kiangwan Village, as effective bombing Anda

2nd Race.

The

K

day to universul peace. The letter concludes: We continue to believe that the stubbornly as over. The Japanese Chinese positions manned in full English people retain that confid-have advanced a considerable distrength in spite of th ence in their old allies, which will tance with to the east and west of forts. prevent them from considering the "hardest nut" thy have on- Japan a piratical adventurer, ready countered, but the Chinese line to undertake, with brazen con-carves deeply into the Japanese line science, the tnak of subjugating at Kiangwan Village, which la Continent.

manned by steadily increasing Japan has quite enough on her Chinese forces. own hands without such extrava #ences-Reuter,

"LADY HEATH'S"

OFFER.

READY TO BE WAR PILOT IN CHINA.

ARMOURED TRAINS.

Armoured trains with three- |jach_quick-fring guns have been keen moving along the railway tal the Kiangwan front and the Chinese Comnuand appears to be concentrating all the new men and material arriving from Nanking

363, 636, 155, 614, 18, 397, 209, 338,; 553, 488, 166, 495, 261, 184.

bona fide Griffins of this Meeting have started at least twice and have not won. The top weight allotted I will not excred 165 lb., and the bottom weight will not be loss than 140 lb.. One Mile.

Mr. D. J. Lewis' Tonalne ....

(Mr. Wong) 1.

No. 605

$1,612.00 20

132.00 386

216.00 Unplaced runners ($50 each) discom-No. 312, 288, 129, 642, 99, 455, Mr. Ho Kom-tong's Navy Hall

(Mr. Tan) 2. Messra. Mackle & Grayburn'a

Don

..(Mr. Clark) Sixteen starters. Won length and half; short hend.

Time: 2 min. 00.4/5 seca. Pari-mutuel:-Win, $43. Places, Unplaced GUNNARS (850 eneb) (89.60: $54.80; 38. Nov, 286, 652, 483, 132, 160, 739, 512, 776, 476, 172, 468, 644, 379.

4th Hace

M.P.-SPORTSMAN PASSES AWAY.

wwwwwww...a

3rd. Race.

No. 724

218 61

$2,05 1.00 586.00 203.09

No. 514

46% {

$2,367,40

676.40 238.20

OWNER OF BRITISH WONDER HORSE. (Reuter's Special Sarvica).

London, Feb. 26. Sir John Rutherfold, former in the Klangwan sector. where Member of Parliament and famous) very severe fighting is to be ex-sportsman, has died at the age of Unplaced runners (350 each) pected in the next few days.

Reventy-seven years.

No. 348. 961, 259, 334, 676, 957, Three hundred

fle was the owner of the wonder-567, 774, 56, 39, 82. and eighty German colonists, repatriated from horse Solario, for which he refused i It is reported from Fort Worth, Soviet Russia, arrived in Shanghai an offer of £100,000 made by H.H. Texsa, that Mrs. Gar Williams, aboard the Choran Maru three days the Aga Khan. formerly Lady Heath, the famous age, leading to rumours that they British airwoman, and her hus were being employed by the Jap band, have applied to serve in the anere as labourers. This, however. Chinese Air Force against Japan.-proves to be unfounded. Reuter.

It has been arranged for them to leave Shanghai en route to Marsailles to-day.

New York. Feb. 27.

AMERICA AND THE FAR EAST:

NOTES TO CEASE.

MORE TROOPSHIPS. '".

Two other Japanese troopships, the Targen Marn and the Suto

Maru are due to arrive at the Wooung Pilot Station at noon to-

FAMOUS BRITISH SOLDIERS.

LYING ILL IN LONDON. (Reuter's Special Service). -

London, Feb. 20.. morrow, but it is learned that they! Two of Britain's most famous Washington, Feb: 27:

will not proceed up the Whangpoo, soldiers are lying ill in London. M conference with

Field-Marshal Lord Plumeris President Hoover, the Secretary until Monday when It is probable described as "seriously " while of State Mr. H. L. Stimson an-that the men aboard will be dis- Sir William Robertson, famous for nounced that there would be a onbarked at the railway wharf at rising from the ranka as well as his cessation of Notes on the Sino- Changhwapang..

latingulahod record, has had all Japantes" situation. Reuter's

his engagements cancelled because American Service:

of illness.

After

It is reported that a Japanese

5th Race.

No. 1,008

$2,861.60

*48

450

817,60 408.80

Unplaced runners ($50 each) Nos. 289, 895, 1,020, 272.

6th Race.

No. 325

31

1008 187

.$2,072,60 763,60 "$1.80

Unplaced runners ($50 each) Noe. 1.089. 1,192, 70, 801, 984, 186. 880, 170, 923, 1,023, 707. 569, 1,090, 899, 865, 610, 12, 610, 668.

deal

with

it in

To pay a final divi-

dend of £3 per share (subject to deduc- tion of income tax) Transfer to Bank Pre-

mixes Account Carry forward to new

Account

FLA

too well realized by all of us here. We are, perhaps, still too close to the events of the past year to be able fully to appraise or even comprehend them; yet there are certain facts and $6,678.200.87 conclusions which, in my opinion, stand out clearly and which cannot be 500,000.00 too strongly emphasized because it is

upon their recognition by the world 3.421,611.15 a large that our whole coonomic structure in the immediate future $10,590,772.02 very largely depends.

British Trade Stimaļas.

3. have been arrived at after making The usual phrase that net profits.

The major fact to be faced is that by provision for losses, has rather more the cause of the disastrous conditions alealficance this year. We have been of 1931 is no mere concatination of called upon to provide for exceptionally

In

heavy and unusual losses, otherwise local and transient evile muro the result of the year's working would wing down of the scale-but is some. The Flemington Plate,Winner

have compared favourably with 1030. we have seen a break in the clouds thing fundamental Again and again $2,000. Second $300. Thirt $200.

Commodity Prices Drop only to have our hopes incontinently For Austrnilan Ponks, Griffins of this

dashed. Taking British trade The causer of the losses are not far particular, the depreciation of sterling Meeting. that havo started and have to seek-nome are due to the heavy has stimulated exports hot, like most not won. Weight for Inches na per drop in commodity prices in the middle stimulants, its effects are largely scule. From the Two Mile Post Once of the year. others to the sudden rise evenoncent and, as other countries Round and fn (about One Mile 171 in China exchange vis-a-vis Sterling follow Yards). Mr. Monastic's Friar Tuck (Mr. Rothe) (Continued on Page 2.)

caused by Great Britain going off the diminish in force. World trade con-

In our wake, are bound to gold standard. Speculation and over-tinues to shrink under the influence Itrading brought many large operators of falling prices, increasing national tu grief with the result that quite a tariffs and government control of number of these disappeared and left exchange the Bank to shoulder the lass. The trade baisnoes. The fall in world used to redress adverse only pleasing factor is that we have prices of about 80% during the last been able to meet these exceptional two years is unprecedented, and all tonsen from current proats, which attempts to solve the resulting pro sows that the earning power of the Dank in in no way impaired.

theblezi-Industrial, commercial- and social have till now been baffled. With regard to investments, we Great Britain's voláme of trade' and EFFORT TO BEAT

have naturally. felt the depression in industry in 1982 wa Sora by 20 IMPORT DUTY BILL.. Last year my predecessor stated national view the "vary resta

the depreciation of gilt-edged nocuri-than in 1950. Taking an inère.

SHIPS IN RACE

AGAINST TIME.

(Router's Special Service). ¦

London, Feb. 26.

that our investments stood in our economie relatione are being attacked books at a figure much below market and the world is threatened with the values, but regret to say that it han destruction of ita'whole credit system been necessary to utilise current pro- |

A large number of foreign ships them down to present marical level,

Ata to the oxtent of £110,000 bo write. are dashing to Liverpool and and at the end of the year, aut book other British ports in an effort to value and market value were practi Land their cargoes before thecally identical. de Import Duties Bill comes Into force on Tuesday,

Owing to the wide dire

No. 892

Most of the ships engaged in vious year, it is more, diates

change Yalova, compayall, to the the raco against time are carrying over to make a comparison. 387 ... DAG

such cargoes as oil and off-cake balance sheets, but the BRUN from Eusala, tapioca, bago and thing yang best, the absence Unplaced runner ($50 each) flour from Japan and China, and No. 649.

M

7th Race.

,420,20 977.20 488.00

potatoes, and fruit from Spain;203/ Anful Sykkelderson pienetamanta

World on Fredlaženo 2205 'universally resegalend that ovoru plan for the post-

Xan Dabia anvéd the world at

more "Is required: than amate

“of the moratoriums sastrosa!!