1932-07-01 — Page 1

THE "MARBLE EFFECT"

FOR ALL PURPOSES.

The South China Morning FoRD) 1 & 3. Wyndham Street. Hongkong.

Hongkong Telegraph

CE, WARREN & CO., LTD.

China Building.

Tel. 20269.

FOUNDEDÉ INST No. 11711

K-ALF FRIDAY, JULY 1, 1932.

日八廿月五

'618.00 · PER

SINGLE- COFY

MR. CHAMBERLAIN'S DRAMATIC SURPRIS

Two Thousand Million Sterling War Loan Conversion Scheme

Re#Neville Chamberlain who

2 plensant surprise on the Commons last night.

LAUSANNE

THERE IS

HOPE"

FOR EUROPE'S INSTRUCTION

NS READY TO ONTRIBUTE

** Takane,

Lngdon, Jours 198,

Conference; drbau, consisting of Mr. Ramsay Age Donald, as President, and mus régresentative of each delegation, öflch after its formation last hight at a meeting on the six invit ing powers, worked into the smal Hours of the morning on the re- paration problem resumed at an been early hour to-day and has nimal constantly at work since.

Mom.while, the Ministers of Commerce or their representatives, have been considering the meas- ures necessary to solve the econ- | puie and financial difficulties responsible for, or tending to pro-

long, the present crists, fa' pre- paration for a wider international conference to consider the ques¦ tou in the near future.

Mr. MacDonald, at u luncheon, adjournment, told pressmen: "We are making progress. There is hope,"

DELIGHT IN THE COMMONS

CITY CONFOUNDED BY SIMPLICITY

BONUSES FOR EARLY

CONVERTEES

LONDON, JUNE 30.

VON PAREN OBFIED

DR. SEVER

PRES

(Reuter's

D THE ICS.

→ Servica).

*Berlin, June 30, The Govenmust of the Reich has been opebiy tisfied by Dr. Severing, the : Minister of the Interior of Protitch who has re- fused to compl Shh the request of the authoring suspension of петраретк Vorecerts, and Spiliszeitung, for. five days. They celticised Von Papen and the igich Government, Dr. Severing appeated to The Supremeurt at Leipzig. which will der "with the matter next weal

BOXER FUNDI QUERY

CHINESE PROMISE

NOT YET CARRIED OUT -

London, June 30;

A fear that the British Boxer Indenmity Funds were not Reto order the being expended in the manner;

promised was expressed by Mr. Mander at question-time in the House of Commons to-day.

Mr. Mander's opinion was based, the he said, on the fact that Chines? Government had apparent- ly ignored the request of the Trus- INEZAPALN6992361005501[2] for duenments entitling them

to interest or amortisation.

HE GREATEST FINANCIAL OPERATION IN BOMB KILLS FOUR Captain Anthony Eden.

THE

HISTORY, THE CONVERSION OF TWO THOU- SAND MILLION POUNDS STERLING OF FIVE PER CENT, WAR LOAN INTO THREE AND A HALF PER CENT. STOCK, WAS ANNOUNCED IN DETALL BY MR. NEVILLE CHAMBERLAIN IN THE HOUSE OF COMMONS LATE TO-NIGHT.

The reduction of interest will take effect on Decem- ber 1, but holders preferring repayment may receive cash on that date. Those who indicate readiness to con- vert before the end of July, will received a cash bonus of one per cent.

THE OPERATION WILL SAVE THE EXCHEQUER £30,- 000,000 A YEAR,

The simplicity of the scheme has confounded the City prophets, who anticipated complicated alternatives in view of the magnitude of the sum involved.

Mr. Chamberlain sprang a surprise on the House

IN SHANGHAI

COOLIE'S FATAL CARELESSNESS

the

Under-Secretary of State for Foreign Affairs, said he ufderstood the money was being expended in' a proper manner, but beyond the is- sue of certain régulations by the

BRITAIN'S WIMBLEDON

The late Mr. A. W. Gore, the last Englishman to win the Wimbledon singles title, in 1909,

Chinese Minister of Railways, die Wets in

quate arangements had not yet bec elaborated to ensure that the suma so expended will produce revenue, available for reduction.

Mr. Mander demanded that the

CHAPEI ISHAP Government take steps to see that!

(Telegraphecial.)

Shanguly 1. The series mishaps re- sulting from losive "left ors" by scavenir-hunters and careless workers in the Shanghai war areas culmin- ated in the death of four Chinese workers.

These men were engaged in pil-'

by making the announcement and awakened the mem-ing on a truck, Chinese and Japan- .

the Chinese Government carry out¡ their obligations to Britain.

Captain Eden promised to do his! best to implement the promises nds to his predecessor.-Reuter.

High Feather

ROOSEVELT GIVES ENDORSEMENT

Chicago, June 30..

FREEMAN'S mination for the Presidency, but

LATEST

bers into loud cheers from all benches. Mr. George. munitions collected from SEVENTEEN WICKETS Lansbury expressed delight that an effort was at last various spots in Chapel.

Although the prisions deaths hatt being made to put the enormous debt on a better foot-resulted from the incaution of gou- ing. All governments since 1929 have anxiously air-hunters, lo-day's deaths were followed the market to choose the proper moment to of the explosives by a coolie, who Jolely day to the careless humiling

Iaunch the scheme.

threw a bomb forcefully on to the

More than a diszon deaths have

Government printers were summoned to work all night to cope with the tremendous task of printing and posting fifteen million forms in twenty-four hours.

BROAD DETAILS OF PROPOSALS

Je Germans are prepared provi-¡cellor of the Exchequer, Mr. Kingdom will continue in forec,

YE

AUSTIN IN GR

GREAT

UNCFD AFTER

Dr Jiro Sata

has raised the ha supporters at Win

sem

to a high longer the match lased, th Certains domination.

to played brillantly ine openink alaget. Fie kept foothold on the upper cour In whowof of Yain, Bolyg

kept the flies rong tenacio volleying cleverly and Nothing

well did he pla that he led 3-0 and. the first set, but to cope with brilliant

cover

posed his I.

and playing L

won the nest -live gah

GALLANT FIGHT.

Mr. Franklin Roosevelt, when the ser is accking the Derhocratic-nu-i

who has given no previous in- The change of situation was dication of willingness to go for dematic. but nevertheless com outright repeal of Prohibition, plete. Salostruggled gallantly, but Austin scarcely made a bad to-day indicated his endorso-stroke and gave his opponent. thes ment of the Convention's Wring- minimum of opportunities ing Wet plank.

went up on the right ball- IN A MATCH

The Drys in the Party have every time, his velle

at the beautifully crisp. expressed consternation Freeman, the famous Kent slow development and some of them showed a definite in triumph. His latest fent bowler, goes on from triump to are advocating the running of last year, a fact, com-their own candidate and others pointed out a-good ploted yesterday, is the taking of talk of boycotting the Presiden his prospecta hat seventeen wickets in a match.

tial election and concentrating

SAUSTIN'S He shares with Mead (W.) of their efforts upon the election of now been caused in such a manner Essex the record of being theja Dry majority in Congress.

are the war by left-over muni-only bowler who has twice accom

Meanwhile the Wets are cele- flons-Renter,

plished the performance in first- teluss cricket, the rarity of which brating their triumph all over indicated by the fact that there; the country and hopes are expressed that the legalisation are only sixteen previous instances, and that Freeman's is the Afth

of light wines and beers will be since the War and the first since passed by Congress in the men 1926.

future.

truck.

Iis brilliant effort-enabled Kent to win their fourth successive match in the county championship. Detalls will be found on the Sports ex-soldiers' Page.

CUSTOMS STAFF IN HIDING IL Was at twenty-five minutes of the holders in the Dominions) According to the newspapers. past nine to-night that the Char- or resident outside

the United

MANCHUKUO GOES ON made his Holders who wish to have their WITH PROGRAMME

in the holdings continued are being in-

vited to do so without delay andy

Harbin, July 1. the scheme provides that ali who The Manchuli Customs Station! notify their assent

ron-was taken over by the Manchukuol in eash ON the first of!

tinuance not later than the 31st authorities on Tuesday, when a DETROIT WIN-SEQUENCE July will be paid a cash bonus at the rate of £1 per fion nominal of arrested by the Japanese polic

¡Chinese grade assistant WIS their stock.

{und escorted to Harbin, where Holders who wish to have their he arrived to-day. He is stifl holdings redeemed

under' guard, must notify their desire not later than

38th Customs

Only six of the Harbin regular) September.

staff re working at present. The staff grades how totals 220.

Intimidation continues, despite

fonally to contribute a sum as yet Noville Chamberlain nifixed for a European reconsiric-dramatic announcement on fund, and some of the discus-House of Commons, ions have centred round this idea. } Mr. Chamberlain said: "The The Chancellor of the Exche Government intend to repay the quer, Mr. Neville Chamberlain, Tonn who returned from Lausanne to December next to ans, hoider wh London this evening, attended a has decided to apply for repayment Pabinet meeting and reported to within three months from to-day, his colleagues on the development that is. not later than the 13th at the conference.--British Wire-September.

TERS.

END AT MIDNIGHT.

Lausanne, July 1. M Herriot has left for Paris, after the meeting of the Executive Committee which concluded at

midnight, the Germans bring

4

Lo

SPECIAL PROVISION.

BROKEN

New York Sluggers Hard on Boston Red Sox

The Democratic Party to indicated that it was oppose the immediate cash paymen

bonuses, and rejected a proposal to endo principle of bi-metal Reuter.

DUTIES ON I

PRODUC

BRITISH SC

-VINDIC

མ༴

Lon

"But holders in the loan me, of the same time, invited to con. tinue in the loan on altered conditions and if is my confident

Under a special provision which the counter-measures taken by the hope that the great mass of the

New York, June 30. holders will respond to this in- was embodied in an act of Parlia-Japanese Consul, Mr. Takigawa, National League hitter, passed Chuck Klein, the champion vitation,"

ment last August, any holder who but the majority of the Chinese Babe Ruth total for the season to-

The Dominion 4ay 30th September has neither staff are in hiding. TREASURY INVITATION, applied for his holdings to be con-

day when he hit two four-buggers. H. Thomas, It is assumed that Mr. Kato, the against Brooklyn. He has scored ment of the

of Commons t The Treasury will, in accordance tinued nor applied for redamption former head of the Wharf De-23. cannot yet leave for London, with the prospectus of 11th will be treated as if he had accept partment of the South Manchurisu Bill Terry also hit for the cir. annuities doy

January, 1917, redeem the outed the offer to have his holdings Railway at Dairen, will be cult, his fifteenth of the season. receivod, and

absent.

The discussiong arc being resumed to-day and Mr. Ramsay MacDonald has decided that he

Reuter.

standing amounts of the loan at continued.

appointed Commissioner at Harbin, Results: par on lat Decomber 1932. At the These are brond outlines of this-Reuter, same time they invite any holder off gigantic scheme-the. largest DAIREN CUSTOMS the stock or bonds who wishes to def operation of its kind ever under-

Philadelphia so to continue his holding in the taken in Great Britain or loan after the redemption date, other country. Jsubject to certain modifications.

DIFFICULTY

BRITAIN EXPRESSES HOPE IN TOKYO

The principal modifications arej n follows:

Firstly, the rate of interest will be reduced as from December, 1932 to three and a half per cent. per annum.

Later, Baldwin

day submit

New York

*** NEW MENACE IN Pburgh

MANCHURIA

Chicago

National League,

D Brooklyn 0 Boston D St. Louis 7 Cincinnati American League.

posals for tion.

Boston Cleveland

4 New York

Means Irish. Blllwi 16It

7 Detroit

7 Chicago

medg

on

Belt

Mr-Chamberlain declared

that the final and strongest argument for immediate action

was the spirit of the country, COMMUNISTS FORMING St. Louis

which, having recovered free- dom in monetary matters, was In a mood for great enterprises, and was able and determined to, carry them through to a sục- cessful conclusion.

AN ARMY

Harbin, July 1.

London, June 30. Replying to questions regarding

Dairen Customs dificulties, redeemable at the, option of the Secondly, tho Joan svill bo Captain Edon, Under-Secretary for Government at any time after 1st

It is rumouredi, according to Foreign Affairs, said that the December 1952. but not carlior,

Japanese information, that Soviet Government had expressed n hope either in a separate operation or mass of helders would respond to tachotze and other closeby districta He was confident that the great citizens in the Hallin and Heng- the Japanese Government that by instalments. They would not countenance any Thirdly, it will be changed to the meantime he appealed to the an

the Invitation to convert, and in are forming a Communist Parti arturo

from the 1907 Man-three and half per cent. War Loan. City to forebear from marking strong and that their commandes detachment, one thousand churia Customs Agreement.

Any (departure, they had in

new issues of capital on the from the Third International, markot for the next

is incomp

Manch

-and

Government,

Zoreign

INCOME TAXI

Dividends will continue, as bo

ざらいい。

without the pre-- NOTEWORTHY low weeks....) irriving shortly,

oute the existing grom the version:t vs deduction of income tax and

fudin taxation in favour!

Notewo

FEATURES:

feâtúras:ó

Itla 6stimateda khata Mandlukno fforolaza ha

· U.S. BUDGETARY PROBLEMS

ECONOMY BILL FALLS

HORT

As the