1934-03-20 — Page 1

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Hongkong Telegraph.

"FOUNDE) JO

·No. 14254

CAD W+CARBG TUESDAY, MARCH 20, 1934.

日六月二

SINGLE GOFT· 18 · CENTE $48.00: P23. ANHUM

VACUUM LASKS

That

keep liquids: or cold for hos ·Bright. ribbed hotal cas-

BASIC VALUE PRICE:

Pint

$1.25 Quart

$2.75

WH

NEW

BAS

FIRST BLOOD TO CONGRESS SILVER ADVOCATES

More Than Two-Thirds Majority for Dies Bill AMERICAN

Mr. Rainey, Speaker of the Hause of Representatives, an active sliver advocate.

NEW ROOSEVELT PLAN

SPECIAL BANKS FOR CREDIT

FORCING WHEEL OF INDUSTRY

Washington, Mar. 19. The creation of intermediate credit banks to provide long-term credit for industry was recom- mended by President Roosevelt in a special Message to Congress to-day.

rezident SodsetCiv

the districts.

The

propoan!

is the next im-

-portant step._in]

MR. MORGENTHAU ATTACKED

PRESIDENT PROMISES. A STATEMENT

RED HERRING TRIP

TO CHINA

WASHINGTON, MAR. 19.

A STATEMENT ON THE ADMINISTRATION'S POLICY IN THE EXISTING SILVER. SITUATION WILL BE MADE IN THE COURSE OF THE DAY BY PRESIDENT ROOSEVELT, ACCORDING TO MR. RAINEY, THE SPEAKER OF THE HOUSE OF RRPRESENTATIVES.

An authoritative pronouncement is considered to be essential in the face of the great silver campaign now being waged in Congress against the Administration's inaction and opposition.

It was on the President's request, said Mr. Rainey, coupled with the promise of a statement, that he changed his plans regarding permission for the Fiesinger Bill authorises the Government to purchase 1,500,000,000 ounces of silver at the current market price. Action has been postponed pending the official

statement.

The Dies Bill was, however, voted on and secured the necessary two-thirds majority in the House with plenty to spare.

The Dies Bill authorisen

the programme premium of twenty-five-per-cent establishing on foreign silver used for the pur-

for

permanent reco-chase of American agricultural CHINA TREATY

very.

Immediate-

ly after the Pre-

sidential Mess- age, Identical Bills were intro-

duced in, both

products.

When the vote was taken in

the House of Representatives

this afternoon. 257 members

REVISION

were in favour and 112 against. BRITAIN READY

The completeness of the victory

Houses providing has elated the allver advocates und

for the establish pressure concerning the Fiesinger | mont of credit B11 is to be expected. bunke in each of Federal Reservo

They are to be capitalised by the Government with $140,000,000 and are to be empowered to borrow up to five times that amount,

LENDING POWERS.

credit corporation or other finan-

The Dies Bill will now go to

the Senate where its fate is un- certain because of Mr. Morgen- thau's opposition to any silver action at the present ilme.

SENATE SENTIMENT.

NEGOTIATE

Mr. William H. Groen, President of the American Federation of Labour, who is making a great bid to amach the Company Union ayalam.

ACTION

STRIKE PERIL

CAR MANUFACTURERS CONFER

GOVERNMENT ANXIETY

Detroit, Mar. 19.

WILL SOVIET JOIN THE

MARYSE HILTZ ON 'WAY HOME

Flight to Seoul To-day

Tokyo. Mar. 20. Mile. Maryse Hiltz, the French airwoman, hopped off for Seoul' at. 7,12 a.m. to-day on the first leg of her.retum journey to Paris.

Reuter.

The strike threat situation has undergone no important chango in the last twenty-four hours, al- though the Administration is s strenuously working to prevent the mass defection of the work- cra of the motor-car industry.

The heads of the automobile industry, with- out Mr. Henry Ford, conferred in private in

DEMANDED New York to-day.

MANCHESTER AND BOARD OF TRADE

The presence of General John son in New York, within hail of the men conference, the indicates gravity with

COTTON INDUSTRY which the Ad-

PROTECTION

A

ministration re garda the situa- tion,

Generał

Johnson

LEAGUE?

CANVASSING IN EUROPE

IMPORTANT STEP POSSIBLE

FRENCH KEENLY

INTERESTED

London, Mar. 19.

The possibility of the Soviet entering the League of Nations is being actively

SINGAPORE canvassed in several capitals.

BASE

SINISTER DESIGNS SCOFFED AT

The French newspapers consider that the recent attitude of the Soviet leaders indicates a growing tendency in that

direction.

In many quar-

ters, such a pro- posal would be hailed with the warmest ap

QUESTIONS ON NEW proval. It

WORKS'

London, Mar. 19. Several speakers sought

ส

felt that the ac cession of Soviet Russia which

has already

taken part in

many of the League's activi

Unless one side or the other information regarding the thes-would off

set the damage. Maxima M. London; Mar. 19.

Litvinci gives way, the strike will com- Singapore Base in the course done by the

of the report stage of the withdrawal of Japan and Germany In view of the breakdown of mence on Wednesday.. the Anglo-Japanese textile nego The National Automobile Chun- Navy Estimates in the and the lukewarmness of Italy, tiations and the increasing dis- ber of Commerce at Detroit issued |

particularly as it is thought possible- tress in Lancashire, very prompt ja statement to the workers to-day/House of Commons to-day, that the Soviet's adherence might Mr. George Hall, asked whether lead to a reconsideration of the and very energetic measures declaring that it was up to them to are urgently necessary to pre- say whether they wanted to sur- the recent naval conference at position of the United States.. serve and to extend the cotton render to professional labour lead Singapore was responsible for the million pounds sterling ers their own right to deal with extra trade in the markets of the the management of their com-allocated to buildings, repairs and world, says a resolution sent to

panies. the President of the Board of

Trade,

lande.

The statement draws atten- The Civil Lord, Mr. Eunn Wallace, replied that the sun to be tion to the recent reduction in spent on the Singapore Base was hours and increases in wages.

now below the original estimate which in 1028 was about £14,000,000.

LABOUR REPLY.

even

It is stated in Paris that though the matter has not been the subject of diplomatic discussion, France would welcome the entry of Sovelt Ruasia: into the League

IN SEPTEMBER? Authoritative quarters do not ex- pect the subject to come up until the September Assembly of the Lengue.

The resolution, which was drawn up by the Executive Committee of the Cotton Trade League in Man- chester, demands immediate ac-. tion so as to secure the re-employ- TO ment of thousands of Lancashire can Federation of Labour, ined with the increased estimate and Rome that there is no confirmation

workers and the restoration of Great Britain's largest saport in-reply, eald that if, after an electhere were no sinister designs re- of a report that negotiations have

tion held outside the plants and¦garding Singapore. The extra been initiated.-Reuter

ON FOOTING OF

EQUALITY

London, Mar. 19.

dustry..

COMMONS' QUESTION.

A representative of the Ameri-

The conference was not connect-

under the supervision of the aum was required for the equip- National Recovery Administration, ment of electrical works. He con- voted in favour of Company cluded that the idea that the

In the meantime, it is stated in

A question was asked in the Com- Union, the other programme of Singapore Base was a threat to NOT A BREACH OF Imons regarding the interview representation by the American anybody was a sheer delusion.

between the President of the Federation of Labour will bow its

Board of

·

tho

com-

It might as well be said that the bane at Devonport was a threat to America.

and Trade

way out of the picture.-Reuter. Japanese Ambassador' which

tho place following In the House of Commons, Mr. took

RAILWAY PROBLEM. The sponsora of the Bill, how Nunn asked for information re-week between representatives of breakdown of conversations inst

When the money in estimate was. Washington, Mar. 19. ever, do not predict that any garding the Chinese Govern- Lancashire and Japanese texille

The Railway Managers' Confer spent, $714,000, they would havel dificulty will be experienced In

ence decided to demand a fifteen an adequate base, properly equip The bank's lending powers in-securing its passage through the ment's Note requesting the re- Industries.

vision of certain commercial clude discounting for or purchas- Senate.

Colonel Colville, replying, sald per cent. reduction in wages to ped and defended.

The House approved the vote.— become effective on July. 1, but agreements. ing from any bank, trust company,

the Japanese Ambassador had left the door open to further nego Reuter and British Wireless, mortgage

industrial company,

a written cimated that he would Sir John Simon, in The silver sentiment in the reply, said that the Note referred municate with his Government, tiation on the proposal for a con- cing institutions in their respec Senate was loudly expressed this to the Treaty of Tientsin of 1858 He was unable at present to say tinued ten per cent. reduction.

furthor-Reuter tive districts, obligations with

Commercial Treaty of anything maturity not exceeding five years afternoon when the decision to and the and entered for the purpose

the 1962. Rogers, of Bond

He stated that, these Treaties obtaining working capital for any Treasury, monetary expert, to:

contain important provisions vetablished industrial or commer- China to study the silver situation,

which are now out of date and in NEW MINISTER TO cial business.

was vigorously assailed.

Senator Wheeler was particu-order to secure conformity with

BRUSSELS They will also be authorised to larly strong in his attack. Heucton conditions, new and equal make direct loans If it appeared termed the decision to send Pro-reciprocal treaties should be con- that an established industrial or commercial business was unable fessor Rogers as "the height of cluded.-Router.

Professor

to obtain the requisite financial asininity" and said that the Pro-

assistance on a reasonable from the usual sources.

bosia

When loans are made through

fessor would be starting for tho

Orient "with a prejudice against JOHN ROOSEVELT IN HOSPITAL, doing anything for eilver."

New York, Mar. 19. Mr. John Roosevelt has been

appendicitis.--Reuter.

A RED HERRING,

|

British Wireless,

and Reuter

AMOY OUTRAGE BRITISH MINISTER IN BANKER'S KIDNAPPERS

NANKING

SIR ESMOND OVEY Laying Wreath on Sun

Yat Sen Tomb

·APPOINTED

London, Mar, 19, H.M. the King has approved the

(Special to "Telegraph")

Nanking. Mar. 20. at Moscow, to be Ambassador Ex-

Sir Alexander Cadogan is visit traordinary and Plonipotentiary at ing the Sun Yat Sen Mausoleum it Brussels and Minister at Luxem- ton o'clock this morning to lay a bourg-British Wireless.

a bank or other financing institu tion, the Intermediate Credit

lately His Majesty's Ambassador Bank will have to make itself re- Senator King described the Mor-uccessfully operated upon for Appointment of Sir Esmond Ovoy, Extraordinary and Plenipotentiary sponsible for twenty per cent. of genthau proposal to send Pro fessor Rogers on such a mission any loss,

as a "red harring." He urged that The Japanese cruiser Idzume and FEDERAL RESERVE CONTROL the issue must not be put to sleep, the destroyers Ashi, Hishi and Sumire Sonator Borah urged that Con-will sail from Hongkong on Saturday. The Credit Banks will be char tered by the Federal Reserve lation and "not to postpone in- Kress should prosent definite legis. Banks and operated subject to definitely a decision in order to the regulations of the Federal

information that Reserve Board.

already have."

Secure

wej

They will continue to exist for Senators Borah, King and. a períod to be determined by the Wheeler joined in taking Mr. Mor-

DOYLE STARTS COME-BACK

wreath.

Sir Alexander Is expected to siny here for some days before proceed fag to Peking. He has telegraphed Instructions to the British Logation at Peking to gather evidence and Information in connexion with the alleged British trespass in the

Gentral Naw8. ̈-

Federal Reserve Board and will be genthau to task for his remark DERBY HEAVYWEIGHT KNOCKED OUT Fanghung district of Yunnan-

IN FIRST ROUND

London, Mar. 19. facdd Doyle at the Albert Hall Jack Doyle, the Irish heavy to-night was knocked out when

DESERT

(Special to "Telegraph”),

Amoy, March 19.

to

A steam launch, believed have been abandoned by the bandits who kidnapped Mr. Tsang Shang-yuen, was discovered by the water police yesterday morning, and they are hoping that this will enable them to trace the whore- abouts of the gung-Central News,

BRITISH PLANES FOR DENMARK

TO BE FLOWN TO COPENHAGEN

1922 PROTOCOL

AUSTRO-ITALIAN AGREEMENT

London, Mar. 19. The signature on Saturday in Rome of the political and economic protocols between Italy, Austria and Hungary was referred to in

the Commons this afternoon.

A question was-asked regarding their bearing on the undertaking given by Austria, in the 1922 dependence and to abstain from any engagement calulated directly to compromise its independence.

Sir John Simon, in reply, sald he had not yet received the full toxt, but so far. as ho was at present aware, It did not conflict, with the undertaking given by Austria in the 1922 protocol.

British Tireless,

protocol not to alienise ita In-

CHINA RAILWAY PROGRESS

BIG ORDERS PLACED 'IN ENGLAND'

London, Mur. 19, The Chinese Government pur-? chasing Commission have ordered ten thousand tons of rails for the Canton-Hankow...... Railway - and. permitted to establish branches. that the silver advocates were not

sovan thousand tons for the Shan- The Treasury will provide the entirely disinterested-Router.

London, Mar. 19,

tung Railway to be delivered at original capital for the banks by

FRENCH NOTE ON

A floot of ons De Havilland Hankow, before July, buying from the Federal Reserve debentures up to five times their

DISARMAMENT Banks and from the gold devolua-capital and surplus.

Dragon twin-engined machine, for The orders are divided between so as a light transport aeroplane Dorman, Long's and the Cargo flon profits, stock subscribed by President Roosevelt's Message weight champion, made a sensa. the first round had been in pro-

London, Mar. 20, and occasionally for aerial survey.

vey Fleet Iron Company, ethy the Federal Reserve Banke in the estimates that over $700,000,000 tional reappearance in the ring at groas for about our minute. The French attitude towards the work, and even Tiger Moths to Tendors for £20,000 worth Federal Deposit Insurance Cor in working capital will be required the Albert fall to-night when Thore was hurricane openlus, British memorandum on disarma-serve as training aircraft will be inchine tools for's tho Cante paration

for the smaller industries which won his fight in less than round both men slamming at one another ment is discussed in a Note which flown Uila wook to Copenhagen by Hankow Hallway are bolag con $700,000,000 NEEDED.

"may continue to employ some will be recalled that Dorio a close quarters, until Doyle was handed this afternoon to the officers of the Danlon Royal, Air saldorod, CATS 346,600 employeea and furnich was suspended on July 613-1set going. In again after Fellath, Foreign Excretak Sir John Force, to whose order they have. Four passengers trein locomo-i The Credit Banks will be per- now employment for some year following his disqualifications landed at terrife left hook to the Simon, by the French Ambassador, Lock ballt In Britain British tiverate Hortly being ordered for

the Hang-kiáng Railway--Reider- pada sale of stock and the issus of Renter.

mitted to augment their capital by 878,000 mon and i womeness; in allerede gerais SAC Vozove Whiɑruanded, they contested M. Corbin Britian:Wireless N TANGUREN