1933-06-16 — Page 13

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Hongkong Telegraph. UNLOP

FOUNDED 1281

No, 14028

五拜禮 號六十月六英港香

FRIDAY, JUNE 16, 1933.

日四廿月五

SINGLE COPY 10 CENTS 134,00 PER ANNUM

FIT

DOLLAR-POUND STABILISATION RUMOURS

#phritis,

32 WARSHIPS FOR

U.S. NAVY

PROGRAMME FOR NEXT THREE YEARS:

---་

(Special to "Telegraph”)

(Bu Telegrams, ŰwJyright, Telegraphis Mizinga Oriano, 11th. Bertoed Fune 18, 11:45 am).

Washington, June 15,

A programme of naval construction, Involving the bullding of thirty-two war- ships over a period of threa years, at an expenditure of U.S. $238,000,000, has been announced by the Secretary of the Navy Claude Department,' Mr. Swanson.-Router,

FINLAND PAYS

FULL INSTALMENT

WAR DEBT

IN SPLENDID ISOLATION

(Special to "Telegraph")

Persistent Reports in Economic

PILL-BOXES

ALONG FRONTIER

SUNGARI DELTA

DEFENCE

PREPARED BATTLEFIELD

(Special to "Telegraph")

fly Tatagraph, Copyrigàt. Telegraphic Massagen Ordinaner, 189. Recaired June 18. $.18 a.m.)

Harbin, June 16.

Soviet territory on the eastern borders of Manchuria is rapidly assuming the appearance of a pre- pared battle-field, according to re- |liable reports reaching Harbin.

Russian troops are now actively OF engaged in strongly fortifying the

Telegraphia -Bevelved June

(By Telegraph, Copyright._ Alimages Ordisanos, 1881.

frontier at all the most important points, all effective defence known to modern military experts form- ing a feature of the defensive pre- parations.

The Soviets evidently fear that should the dispute over the C.E.It. | lead to hostilities, the Maritime Province will be subjected to the first attacks.

PILL BOXES. At the Sungari delta, for in-

Washington, June 15, stance, one of the most vulnerable The State Department has re-points hitherto, the Soviet side of ceived a Note from Finland the border has been strongly forti- announcing the payment in full fled for a distance of two miles, of the amount of the war debt with a machine-gun nest in instalment due to-day, namely, concrete pill-box established every

120 yards. $148,592.

Up to the present, Finland is the only nation which has met the June instalment in full-Reuter.

FRANCE DECIDES -ON-DEFAULT_ Washington, June 15. The United States ceived a war debt token pay-!

million of twenty ment ounces of silver from Great Britain at Bombay to-day.

4

Concrete forts and barges with stone have been established at Yekaterinonikolak,

HILLS ENTRENCHED.,

Mr. James Cox, who is to be chairman of the Monetary Com- mission at the World Economic

Conference.

Conference

BANK OF ENGLAND CIRCULAR

SPRINGS SURPRISE ON CITY MEN

WASHINGTON NOT INFORMED

(SPECIAL TO THE “TELEGRAPH”).

(By Telegraph. Copyright, Telegraphic Messages Ordinanco, 1894. Received, June 16, 12.47 p.m.)

LONDON, JUNE 16. THE AMERICAN DELEGATES ARE REPORT- ED IN WORLD ECONOMIC. CONFERENCE CIR- CLES TO-NIGHT TO HAVE AGREED TO THE DE FACTO STABILISATION OF THE AMERICAN DOLLAR AT AROUND TO-DAY'S PREVAILING

· RATE, NAMELY, JUST OVER FOUR DOLLARS TO THE POUND STERLING..

Circles

Signor Jung, Vice-President of the Monetary Commission.

YANGTSZE FLOOD

PERIL

HANKOW DISTRICT

UNDER WATER

GRAVE FEARS

*

MELLON INCOME TAX INQUIRY

FEDERAL AGENTS IN PITTSBURGH

ECHO OF MORGAN DISCLOSURES

(Special to "Telegraph") ·

(Dy. Talagraph, depuricht. Telegraphie Messapia Ordinance, 171). Rossion FunS 26, 2,51 am)

Washington, June 15. The Attorney-General announ ced to-day that officials of the Department of Justice aro at present in Pittsburgh investigat- ing the income tax payments of [Mr. Andrew Mellon and his bro- |ther, Mr. W.L. Mellon.

spatch to the China Press. MR.BARRINGER

RECALLED

TRADE COMMISSION

OFFICE CLOSED

ECONOMY STEP

The American Trade.Conimis-

Many hills have been entrench-Isioner in Hongkong (Mr. Thomas

The exact nature of the communication has not been revealed, but according to the newspaper it contemplates the early stabilisation of sterling at approximately its present level, now that the war debt instalment uncer- tainty has been dissipated.

The action is the outcome of the revelations in the Morgan en- quiry, particularly regarding tho manner in which Income tax re- missions were obtained by. Amer. ica's most wealthy ment

Shanghai, June 16.

A Sonato resolution ordering Hankow is threatened

this investigation was introduced with a serious flood disaster, by Senotor McKellar, and backed according to a special de-by Senator Wheeler, of Montana. The investigation will be for more complicated than the Mor- The rapid rise of the Yangteze gan hearings because of the wide in the Hankow region has acce- financial and industrial interests lerated and yesterday, the flood of the Mellon and Mills familles. level rose over the forty-two feet In requesting the investigation, Mrville Chamberlain has made it clear that Bri-mark and completely flooded the it was pointed out that charges tain will regard favourable.all approaches to the secur-ex-Russian Concessión in Hankow. marte by a former lavestigator for

Grave fears are entertained that the Seneto banking and curratic ing of stability between the principal currencies of the the Chinese city will shortly suffer Mr. Mellon had never been heard. committee against Mr. Mills and world, and according to the Evening News, the Bank of the same fate, unless the rise of Sonator McKellar said that he was not alleging that there was wrong, England has already sprung a surprise upon the City of the Yangtze undergoes a check.

Government officials, however, doing anywhere but he › ušlieved i London buty circulating to all banking houses and to state that the present rise does that the investigation would show members of the Stock Exchange, certain advice regard- not necessarily indicato nuother that the whole income tax system

great flood such as devastated was wrong and failed to protect ing dealings in dollars and dollar securities.

Active pre- Federal interests." huge areas in 1931. Active work is going on be

cautions are being taken against The original charges made a repetition of the disaster.against Mr. Mellon and Mr. Mills, were made in a Government suit field Inst February by Mr. David A.. Olson, counsel to the Senate Committee before Mr. Ferdinand Pecora was engaged.

WASHINGTON TAKEN BY SURPRISE

Racvived June

Washington, June 16.

ed, and commencing thirty-eight C. Barringer) received advicehind the scenes on the stabilisa- milca from Blagovestchensk, there this morning that the office of tion of currencies issue, and it

- (Special to “Talograph”) - are fortifications placed every five the American Trade Commis- is considered probable that an

Copyright, (Dy Telegraph, hundred yards, with barbed wire aioner in Hongkong will be clos-

Telegraphla agreement will be reached for Heanors Ordinance, iffi." re-entanglements forming as imported on July 1.

ant fenture.-Reuter.

This action is a consequence of stabilising the Yen, the dollar) the general economy plans of the and the pound sterling at the United States Government, where-

same time. by many Federal Bureaux will be consolidated or reorganised to meet present conditions.

In future, the trade promotion activities of the Department of

The British Government will be responsible, however, for its safe delivery to the United States.

The State Department has also disclosed that the Federal Assay Office in New York has received two million ounces of silver from Italy on account of her part pay-

AN EXPEDITIOUS

CONFERENCE

MR. MACDONALD'S CONGRATULATIONS

(Special to "Talograph"}

ment of war debt, the Italian Am- (PV Telegraph, Convrions- 'bassador having previously in-Messages Ordinance, 385. formed the State Department that, 1 a.m)

the Italian Government proposed

Telegraphic

London, June 16..

at The general discussion the to pay one million dollars ns a

plenary session of the World token instalment.

Franco has, however, stood Economic Conference ended much Armly by the attitude adopted in earlier than was anticipated.

Even yesterday morning, the ex- December last,

The French Ambassador del-(pectation was that the debate would the livered & Note announcing the continue into Friday, but French default on the war debt speeches had all been completed by Instalment due to-day, amounting the late afternoon, to U. S. $40,788,000.-Reuter.

FURTHER TALKS.

London, June 15.

U.S. PUBLIC WORKS PROGRAMME

NEARLY FOUR BILLION DOLLARS..

Washington, June 15. The Senate has finally passed the Appropriation Bill for President Roosevelt's Public Works programme and for the Muscle Shoals- Tennessee Valley develop. ment scheme.

The total amount in- volved is U.S.$3,612,000,- 000-Router.

Mr. Ramsay MacDonald con- gratulated the delegates, describing the confererice as one of the most business-like and expeditious over

The two special Commissions, ultimate settlement of the war Monetary and Economic are hold-Commerce in South China will be debt question between the United ing their first meetings at eleven handled by the consulates, in the Kingdom and the United States o'clock

Discussions with the object of which he had ever prealded.

furthering the plans for

tho

will be continued by Sir Ronald Reuter.

Lindsay, the British Ambassador

in Washington, upon whom

haa

【【

to-morrow morning.same manner as before the De- partment of Commerce sent its own trade representatives abroad,

Trade Commissioner Barringer and Assistant Trade Commission- er David M. Maynard will leave Hongkong early In July for the United States and' will report at

mainly fallen the conduct of the DOCTOR DEFENDANT

nogotiations which culminated in

the Chancellor of the Exchequer's

announcement last night.

In London political circles it is JUDGMENT ON THREE

considered that the final adjust

ment largely depends upon the course of events during the World

ACTIONS.

Judgmont was given against Dr. Economic Conference and that notŢA. Veloso, of 18, Lock Road, Kow- for some weeks at least, and pos- loon, in three actions brought albly not until September, in it against him at the Supreme Court likely that a British war dobt mis- this morning. alon would proceed to Washington.

Hau Hing of The Hongkong

Washington for orders.

CHICAGO HEAT WAVE

Reuter.

“SPEEDY "ACTION BY NANKING.

Hanków, June 16. The present level of the Yangtse f higher than it was at the cor-

$11,000,000 ALLEGED UNPAID. Mr. W. H. Woodin, Secretary of

In that suit. Mr. Olson, atato the Treasury, says he has NO

that the Gulf Oil Co., one of Mal- The sterling bloc countries knowledge of the agreement re- will be automatically stabilised ported to have been reached for responding date in 1931, the year lon organisations, had not paid tho

the stabilisation of the dollar. of the great flood.

Government Income taxes of more by Britain's action;

He anys that any concrete pro- In view of the seriousness of than $11,000,000 that were due. There is no doubt that rapid posals in this

connexion would the position, Chiang Kai-shek has Neither Mr. Mellon, while Secre- progress in this direction is have been submitted to the Pre-telegraphed to the provincial tary of Treasury, nor Mr. Mills, being made and Conference sident, and the Treasury, but no governments of Kiangsu, Hupeh, in the same capacity, had attempt- circles are greatly impressed by suggestion of a proposal has yet Kiangel, Hunan and Anhui, the to collect the money. The case the speed of decision-Router. [reached these quarters.-Router. Yangtszo Conservancy Board and is still pending.

MR. COX AS CHAIRMAN

OF COMMISSION

FRENCH NO LONGER DISPUTE APPOINTMENT

London, June 15. The Franco-American battle over the appointment of the chairman of the Monetary Commission of the World Economic Conference has terminated.

Mr. James Cox, the vice-president of the United States delegation, has been elected chairman of the monetary commission...

Signor Jung, the Italian Finance Minister, and Dr. Kienbock, Austria, have been chosen as Vice- Presidents.

M. Bonnet, the French Finance Minister, will be rapporteur of the Commission.

French quarters now appear to be quite satisfied, Mr. Cox's chairmanship will be a definite step in the direction of Anglo-American currency stabilisation, according to French official circles.

the National Economie Committee, Mr. Olson, working on behalf of urging the formation of a Joint the Senate Comittee, also revealed Flood Prevention Commission. that Mr. Mills, while Secretary of He orders them to mobilise all Treasury, had signed a warrant their engineering and technical remitting $45,843 in taxes against staff and to: take every possible the estate of his father, the Inte measure to prevent any breach of Mr. Ogden Mills. the seven thousand miles of dykes. --Reitter.

ww

GERMANY & HER CREDITORS

FIRE ENGINE

A BUS

DRIVER OF THE BUS SUMMONED

AGREEMENT LIKELY Fodder Stroot and Des Voeux Road

TO-DAY?

A collision at the function of

on the morning of June 2 between a fire engine and Hongkong London, June 15. Hotel motor omnibus had a sequel Negotiations between Germany before Mr. Schofield, at the Con- and her "atandat!!" creditors, It is tral Magistracy this morning, learned in well-informed German whan Ng Wal, the driver of the quarters, are expected to lead to bus was summoned for falling to an agreement to-day.

give way to the fire engine.. Certain concessions regarding in- Defendant was moving up terest rates are said to have been Fedder Street, and the fire engine accorded the German debtors. The was going East. There were threa average rate, commission included, are engines, and two had already would be reduced from about 4% per passed, the last engine colliding cont. to 4 per cent, and the crewith the back of the bus. The do- ditors would also renounce, pro- visionally, their right to repayment fendant did not pay enough atten- of the principal due under the the engine, as the siren was being "Standstill" agreement, Reuter.

tion otherwise he would have soon sounded. The damage to the fire ongine was elight, amounting to about $20. MODERATES AFTER

THE RAINFALL

The defendant admitted the If such a mission crossed the Daily Prosa, sued for $10 and

TEN DAYS

It is noteworthy, In view of The French are convinced that Atlantie it would probably bo coats, and Tso Wah, of the Sha

Chicago, June 11. the previous bickering on this the movement towards stable cur- The, rainfall recorded at the summons, and Mr. Schofield. Im- headed by Mr. Novillo Chamber moen Printing Press, sued for $15,

Royal Observatory, during, the posed a fine of $20.

Jain.

and costs, each alleging that the After 10 days of intense heat issue, that M. Bonnet proposed rencies will now advance quickly twenty-four hours ended at ten

The election of "officials" to the o'clock this morning was 69 The wedding will shortly take place Any final settlement would, of amount claimed was wages for the the Mid-West obtained relief with Mr. Cox as chairman of the course, need to be ratified both by distribution of journals for the a break in the temperature to-day. Monetary Commission, while M. Economic and Trade Commission inches, making a total since Jan- of Kho Han-po, doctor of medicine,

the United States Congress and doctor. Tau Tallor, sued for During the interval scores of Bonnet was proposed as rapport was also carried but to-day. There uary of 15.03 inches, against an of St. John's Hall Annexe, Hongkong.

the British, Parliament.-British $21.50 the price of a suit supplied deaths from drowning and prostra aur by Mr. Neville Chamberlain,

tion were reported.

Wireless)

to defondant.

(Continued on Page 7)

average of 81.47 inches.

and Miss Wilhelmina Wong, 87-39.

Dute Street, Mong Kok, Kowloon.