1933-10-02 — Page 19

THE HONGKONG TELEGRAPH. MONDAY, OCTOBER 2, 1933.

ROOSEVELT AND INFLATION

RELUCTANCE SHOWN IN STEPS AUTHORISED

MONETARY POLICY NOT YET DEFINED

WASHINGTON, OCT. 1. PRESIDENT ROOSEVELT'S DECLARATION OF MONETARY POLICY REMAINS UNMADE AND IT IS NOW COMING TO BE BELIEVED THAT HE IS STILL RESISTING INFLATIONARY MEA- SURES.

An important statement is, however, expected within the next twenty-four hours. President Roose- velt left Washington for Chicago, where the Labour Federation Convention is being held, and the fact that he was accompanied by the entire Executive and office staff is thought to portend a first-class pronouncement.

President Roosevelt addressing neighbours in New York State. "The dawnhill drift has definitely turned," he declared in a speech

tinged with optimism.

It is believed that the President is still strongly of | BRIG. COUSENS | SOUTH CHINA MOTOR

the belief that he can force his programme through to success by credit expansion as opposed to monetary in- flation.

Official activities to-day are, and releasing gold for settlement regarded as 'of an encouraging of international balances.

character.

orders that the destitute must be provided with food, clothing and fuel during the coming winter.

$700,000,000 FOR RELIEF, The Relief Administrator, Mr. Hopkins, staten that there will be nearly $700,000,000 available for this purpose.

Simultaneously, the Reconstruc- tion Finance Corporation an- nounce that a big drive is now to be undertaken in an attempt to energise industry through credit expansion by means of three per cent. and four per cent. loans to mortgage and loan companies and reason. to banks for relending to business ¦ firms.

INFLATION DOUBTS

In consequence of the restive- ness among the farmers over the

AR

DULL MARKET.

New York. Oct. 1.

LEAVING

SUCCESSOR ON NEURALIA

and on leave on November 17.

WOR

of

SHIP BUILDING CO.

New Manager Appointed: Last Year's Loss

A net loss of nearly a lakh was

..

RADIO BROADCAST

TO-DAY'S BROADCAST.

RELAY FROM KO BHING THEATRE IN EVENING

6-8 p.m. European programme, 5-6 p.m.

A relay of the Band of the lat Battn. South Wales Borderers, con

ucted by Bandmaster J. L. Gecks, from the Military Hospital, Bowen Road, by kind permission of the Oncer Commanding, (During the in- tervals recorded

cunt from the Studies will be brond-

6-6.45 p.m. Operatie. Song-Lo Favorita-Oh, Dearest

Ferdinand (Donizetti). Song-Don Carlos-Oh, Fatal Gift

(Verdi).

Sigri Onegin (Contralto), 7101, Orchestral The Daughter of the

Regiment Overturo (Donizetti).

Members of La Scala

Orchestra, Milan:- C1654. Orchestral-The Twilight of the

Gods Siegfried's Journey to thá Rhino (Wagner),

Symphony Orchestra conducted

by Albart Contex., 9007. Song-The Klug's Henchman-Nay, Maccus, Lay him Down (Millay- Taylor).

Song The King's Henchman-Oh,

Caesar, Grent Wert Thou? (Millay- Taylor).

Lawrence Tibbett

(Baritone). 8103. Orchestral Flying Dutchman-

Overture (Wagner).

Symphony Orchestra conducted by Clemens Schinalstick. C1870. 11.45-8 p.m. Variety,

7

(Closing Locul Stock Quotations,

etc.

Orchestra! I'Called to Say Good-

night. Orchestral-Make Love the King.

Russ Columbo and His

Orchestra. 24105,

Song-A Letter to My Mother. Song-A Boy and a Girl Were

Orchestral-Wheczy Anna. Orchestrul-Butterflies in the Rain,

Ray Noble and lia

Orchestral. BG316.

Berickson and Brown. B4370.

Chorus-Agincourt.

Guards. 82847.

Giulietta Morino. 21225.

Chorus Here's A Health Unto

His Majesty. Chorus Ten Thousand Miles Away.

John Goss and Cathedral Male

Voice Quartet, B37/52. Band-The Bolls of St. Malo. Band-Semper Fidelis March.

Band of H. M. Coldstream

Violin Solo-Millione D'Arlequin Violin Solo-Dinne

Orchestral-The World is Waiting for the Sunrise. Orchestral Indian Love Call.

Victor Salon Orchestra, 20202. Song-Look What You've Done

(From "The Kid From Spain"). Song-What a Perfect Combination

(From "The Kid from Spain"). Ethel Lovey (Comedienne).

Plano Solo Southology, Plano Solo Intangibility.

Joe Sanders. 24033. Song-I've Always Wanted to Call

You My Sweetheart. Song If I Didn't Miss You.

Gracie Fields (Comedienno).

Orchestral-Honolulu Moon.

B4384.

Prior to his doparture for The President's conservative Aboard the troopship Neuralia | Chicago, where he will addreas the monetary advisers prefer this to which is due to arrive in Hong reported by the Chairman (Mr. Convention of the

uncertainty, and urge American

simultaneously abdicate his pre-G. B.

that he kong on October 27 will be Col. Paul Hodgson) at the third annual Legion, President Roosevelt gave

Rowan-Hamilton, D.S.O.. general meeting of shareholders of sent indationary powers in order M. C., who is to relieve Brigadier the South China Matorship Build come future doubts as to what R. B. Cousens who goes to Eaging and Repairing Works, Ltd., action might be taken,

held in Gloucester Bullding this afternoon. It was also disclosed Amid the present confualons,f Col. Rowan-Hamilton, who that Messrs. Brandt & Co., until counsel and Mr. Roosevelt's own has been commanding the 2nd. recently General Managers of the personal disinclination to take a Battalion The Black Watch since Company, are no longer connected further inflationary plunge it is 1980, was born in July, 1884, and with the Shipyard or the Company. as yet impossible to forecast. received his first commission in The Chairman said: Nevertheless all indications point the Army as 2nd. Lieut. in the Gentlemen: at present toward ultimate Black Watch in 1904. Two years The Report, Accounts and gold dollar devaluation before any inter he was promoted to the rank Balance Sheet for the year ending attempt to borrow against a of lieutenant and from September the 30th June, 1933 have been in speculative future.

1911 until December 1914 was your hands for some time, and, Government attempts to sub-adjutant of the battalion.

with your permission, I will take stitute federal lending have been her 1914, a rank he held until

He was made captain in Septem-them as rend. largely ineffective for the same 1922, when he was appointed two working for the year is $91,418.72, I regret that the net Loss on

years later, when he

was also which, with the balance brought Hence a combination of econo-raised to the rank of Brevet-forward from the previous $51,- mic and political forces is driving{Lieut.—Col. The latter was 987.57, leaves a debit balance on the Administration toward a de substantiated in 1930.

profit and loss recount to be carried This is interpreted to mean that finite policy designed to remove From August 1915 until Octa-forward of $143,406,29. President Roosevelt is si doubts.

ber 1918, Col. Rowan-Hamilton? Our yard has been busily en- reluctant as ever he was to embark

Various well informed authori-held numerous General Staff posts gaged during the past year in the upon a policy of inflation, which is tantamount to a levy on capital. ties believe that gold dollar de-with the Home Forces and in building of a metorship the .. General Hugh Johnson has sent valuation may be coming within France and from 1920 until 1924 Pulupandan" for the Dela Rama

Brigadier Major

the Steamship Co. in Iloilo, Philippine Mr. Walter Chrysler to Detroit to the next 60 days.

Southern Command. In 1924 halalands, which was delivered early Investigate the strikes there.

was appointed temporary Deputy last July and has been found to be Assistant Adjutant and Quarter-satisfactory in every way to its retail price formulas, Mr. Wallace, Uncertainty over the programme master General to the North owners.

We have also recently completed In Diesel-Electric Ferry for the Star the Secretary of Agricultue, has which the Administration was to Ireland District, a rank he held started discussions in reference to adopt in relation to currency until September 1929,

During the Great War he saw Ferry Co. Ltd. and you will very the control of corn and hog problem was largely responsible

1 responsible service in France and Belgium, shortly see this vessel in the run Orchestral-Hawalian Dreams. production. Router.

Gallipoli and Egypt, and was men, between the Island and the main- In spite of the fact that strikes tioned in despatches on four oct. Her trials were eminently nad successful and we trust she may be An uncertainty continues over were on the increase, the market casions. He has the Star the monetary polley of the United was firm at the closs and traders Clusp, the British War Medal, the found to be satisfactory to her

Victory Medal, the D.5.0. and the were

The management of our yard States, the entire subject is con-felt that higher levels

has until recently been in the hands stantly being reviewed by Presid-prospect.

Other disembarkations and their of Mesars. Brandt & Co. but who ent Roosevelt and his principal An early statement on the A4-| units will bet-Audit Stuff are no longer connected with the advisors and it is said that even ministration's currency policy is Messrs. A. Dawkins, J. W. Hall, Shipyard or the Company. the conservatives advocated in expected to materialize, In the J. Miller; Royal Artillery, 2/Lt. Your Directors have appointed flationary action rather than con- meanwhile doubt is seeping slowly D, A, Kayll, 2/Lt. P. G. Parker. Mr. D. A. Purves to be Manager tinuing uncertainty. ;

into the minds of many farmer 2/Lt. A. G. L. Close, Lieut. G. P. which we feel sure will meet with Mr. Roosevelt is disinclined to adherents of the N.R.A. as to its Portman, Lieut. W, T. Delamain, your approval, as Mr. Purves has act toward inflation as yet, be- ultimate success, and this doubt Major W. L. Eastwick Field, Cap-had long experience with the yond freeing a large part of finda expression in the temporary tain W. J. Fennel; R.A.O.C. Capt. Hongkong & Whampoa Dock Com- U.S. $3,000,000,000 representing stagnation of general businças and (O.E.Q.) 11. B. Creanwell: Royal pany and is an able and con: deposits in closed banks in order of the exchanges,

Engineers, Major R. L. Whitting scientious worker. to flush out the channels of nation- In the commodity markets Arm-tan, Lieut. A. W. Lorena; R.A,M.C., I propose the adoption of the al purchasing power,

nesn was apparent throughout Lieut. Colonel A. C. Elliott: Devon Report and Accounts for the year Political pressure is, however, Itubber futures were particularly Regt. Capt. O. P. Joce; R.A. Ch. D., ending the 30th June, 1933 and increasing in the direction of strong-December futures closing Rev. J. G. L. Isard: East Lance. Kwhen this has been seconded, I orders for the current week have providing inflation on a much at 8.70-its high for the last fort F/e Capt. K. G. Richman, P/ will endeavour to answer any General Police (Hon. Mr. D. broader senle and indications are

Linut, F. W. Beer: Royal Artillery, questions Shareholders may wish that whon Congress reassemblea in Volume of shares traded in the Q.M.S. Medina, W/o Sgt. G. A to put to me.

There were January the inflationists will try. Stock Exchange totalled Knight. Wo Set. Champion, KV/0

no questions, and to compel more drastic steps.

by Mr. 1,000,000 while call money remain. Sgt. Jarman: R.A.0.C., W/o S/Sgt. after being seconded ed at e-Per Swan, Culbertson Springall; Royal Engineers C.S.M. II. II. II. Priestley, the Repurt and Miller, W/o Sgt. Bray, F/o S/Sgt. Accounts were adopted unanimous STIMULANTS TO BUY.

and Fritz. Meanwhile, President Roosevelt hopes that the mums to be diffused for public works, unemployment re- lief, paying off victims of the

UNCERTAINTY.

for the dullness market.

night.

in

¡M. C. ·

DAY BY DAY NEWS IN BRIEF

The R.MS. "Empress of Russia" and is due at Vancouver on October

owners.

closed banks, and for refinancing FALSEHOOD ALWAYS ENDEAVOURS mortgages and increasing loanB TO COPY THE MIEN AND ATTITUDE OF left Yokohama on Sept. 30 at 3 p.m. tors. The motion was carried un-1

to cotton and other farmers will TRUTH.-Dr. Johnson. sufficiently stimulate buying power

.

·B2014,-

Hilo Hawalian Orchestra. 20596, 8 p.m. Local Time and Weather Report. 8.3-11.30 p.m+

A relay from the Ko Shing Theatre. 11.10 p.m.

To-day's Opening 10 am. Stock and Commodity Quotations as received from New York by Messrs. Swan,

11.10 p.m. Close Frown. All records in the above European programmes are kindly supplied by Messrs. S. Moutrie and Co.'

Culbertson, and Frits..

POLICE RESERVE ORDERS FOR CURRENT WEEK

with 2 years or more

to ordered

оп

Central Police Station at 5 October

at

Dress-white uniform and with white cover. Revolvor Practice A revolver practice for the Indian Company svill Lako рідсо On Wednesday, October 4, al 5.30 p.m. under Sub Inspector A. L. Hopkins at the Kennedy Road Range. Only thosó detailed will attend.

The following Police Reservo

issued by the Inspector

C. Wolfe).

Chinese Company. Revolver Practica-Alf members service are Road attend Bowen Revolver Rango on Wodnesday, ly.

October 11 to fire the Marksman's Mr. Ho Kwong proposed, and Course under Sub Inspector A. I.. Mr. T. A. Martin seconded, the ro- Hopkins. Mumbers will fall election of Messrs. II. II. H. | tf Rango_at

at 6.30 ..

sharp, Pricatley and Tse Ka-po as Direc

Indian Company. Photograph-A company photo- animously.

graph will be taken Tuesday, Mr. T. A. Martin was elected a

3. Members will fall in at p.m. the motion of Mr. The marriage is announced to take Director on

Bharp, to overcome the present pro- The annual squatic sports of King's

сор nounced lag in the recovery pro-College will be held at the college place shortly of Thomas Sands, ship J. M. Noronha; seconded by Mr.

bath on Thursday, 6th, Oct. at 2, p.m.builder, of Kinn Wan Dock, Shang Ho Kwang. gramme.

hal, to Mrs. Margaret Wood Butchard Messrs. Thomson & Co., Charter The major dificulty at the pro-

During Friday, three cases of Todd, widow, of 255, Avenue Halg, ed Accountants, were reappointed sent time is the private capital,

Auditors to the Company, this in the face of uncertainty over the typhoid (one imported) and two cases Shanghai,

being proposed by the Chairman and seconded by Mr. Ho Kwong, Intentions of the Washington Ad-of meningitia were reported to the

Those present included: Mr. ministration, remains hesitant, and local health authorities. unwilling to undertake long term loans,

Similarly Industry and business

in the Central Police Court this Tam Yiu-to, Tsang Fuk-hing,

(Directora), W. J. Colo (Secre- October 4, at 5.80 pan. for instruc posed codes of hours and wagga morning.

tlon. A young Chinese girl sustaineditary), D. A. Purves (Manager), are reluctant to see inflationary

serious injuries to her head last and A. L. Brusset, Acting Man All recruits of the Indian Company netion:

Banque Franco-residing a Hongkong will attend The first display of a "Revelation" evening when she attempted to alight ager of the Mr. Roosevolt definitely rejects

Chinese Company Headquarters, -17, Queen's Road Central on Thursday, Issuing greenbacks and le less in-mirror in a theatre is to be seen from a moving bus on Nathan Road, Chinoise,

now in the lobby of the King's The driver summoned an ambulance terested than heretoforo in the Theatre, where a poster has been and the girl was taken to the Kow- Whittingten; Q.M.S. Harrington, October 5, at 5.80 p.m. for instruc

British Films Icon Hospital.

tion. iden of a so-called "commodity displayed by the

S.M. Potern, W/o S/Sgt. Giles:

Emergency Unit Reserve. dollar" based upon the lovela of Distribution Company, Ltd., of their

| R.A.P.C. Q.M:S. Lawa; Lincolns, For unlawfully receiving a chicken, W/o Sgt. J. Reaks, F/o L/Sgt. T parade of all arms will take place Rifle and Revolver.-An Inspection commodity prices.

forthcoming. Alm, "The Good Com

The mysterious apa Chinese was tied $20 by Mr. Ash; Messrs. W/o Sgt. A. T. on Friday, October G, Fall in DECREASING DOLLAR CONTENT. Pontons."

pearance and disappearance of the Schofield in the Central Police Court The trend is again toward gold poster behind the mirror, due to the this morning. The chicken had been Smith; Royal Signals, F/o S/Sgt. No. 2 Police Station, ab 8.20 at All » members must be present. electric lumination being automa- killed in preparation for the Indian dollar devaluation (ie, decreasing tically switched on and off, is

In addition there will go aboard Bootlon leaders to notify all their at-watchman's meal aboard the s.5. the gold content of the US. tracting a large number of patrons Fock On. Defendant was seen leay-24 mon to be attached to the 24th Sections.

Sgd. D. L. KING, dollar), fixing the dollar value of the King's Theatre; as well as ing the gangway carrying the Anti-Aircraft Battery, and ten for

chicken.

attachment to other units, finally at a level of about 05 cents passers-by.

D.S.P. (R)

The following have been appointed public vaccinators in the Colony

Training Course-Part II- All

Sentence of twelve months' hard Au Yuk-choang, Lai Yiu-weng, Lam Paul Hodgson (Chairman), Messrs. recruite of the Indian Company re labour was imposed by Mr. Schofield Yung-fuk, Lau Chung, Lau Kam H. H. H. Priestley, Ho Kwong, siding in Kowloon will attend 3, Chi operating undor the newly im-on Wong Kiu, a returned banishco, Cheung, Lau Wal-nam, Lui Hing-ku!,!T. A. Martin, and J. M. Noronha Woo Street, Kowloon on Wednesday,

C. A. Flood.

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