1934-04-05 — Page 7

EUROPE FINANCE

PROBLEMS

FRANCE STRUGGLING TO MAKE ENDS MEET.

1

Paris, April 4. Now decrees and laws, effecting oconomics totalling Fra 2,600,000,- 000 will be submitted to Preail- ont Lebrun for signature this evening, after they have been finally passed by Cabinet to-day. This is the first determined effort to balance the French bid get aftor four years of deficits.

Although approved by industrial and commercial interests and to a large extent by public opinion, the economies are encountering resistanco by the civil servants. The civil servants numbering 800,- 000 from ono of the strongest corporative bodies in France.

Fresh Difficulties. Further almculties await the Government when the next slice; of economics is taken. Although the economics affecting ex-soldiers are based on a scheme drawn' up by M. Rivollet, Minister for Pen- Klone, and himself the representa- tive of the ex-soldiers in the Government, they are likely toj caush disaffection among hundreds of thousanda of ex-servicemen.

The social insurance economics are pertain to anger the Socialists,

Commander J. E. Sizemore, D.S.C R.N., who left for England to-day in H. M. troopship Somersetshire. Mrs. Sissmore leaves on Saturday by the P. and O. liner Ranchi.

BRITISH PORT ACTIVITY

GOOD RETURNS IN FEBRUARY

THE HONGKONG TELEGRAPH.

THURSDAY, APRIL 5, .1934.

V.R.C. Report LONDON STOCK

Useful Year Of Work

(Continued from Page 8.)

WAIH

the auspices of the H.K.I.A.S.A.. hut an Inter-Meriber Pole league successfully carried out and resulted In a win for Mr. W. Lawrence's team. The Committee take this opportuni ty of thanking those who subscribed toward the prizes and all who naslated in the Season's Aquatics.

BOAT HOUSE.

Last season's revival of "interest in this section was fully maintained and the Club was able to send crews to compete in all the rowing events at the .H.K.Y.C. closing Cruise last April and were successful in winning the Benlor Pair Oar and Grin Pale Car events.

As a result of the continued interest alewn by rowing Members it wes de- cided to hold our own Regatta, after lapse of 10 years. This was held at Kowloon Bay on November 25th and the Canton Rowing Club and Royal Hongkong Yacht Club presentative crows to compete in a Triangular Meat, which was won by Canton. The Club, succeeded in winn- ing the Senior Pair Gar and Griffin Foura events,

nent ro

Owing to the large number of mem- bern eligible for both the Senior and Junior events, it was possible to re- vive the races for the Chairman's Challenge Cup for Seniors and the Chinese Chamber of Commerce Cup for Jualors-both confined to Mem- rs of the V.R.C. Four bonts com-

the latter.

London, Apr. 4. The return of shipping move These decreça are part of a ments at British ports shows that vast plan of national reforms, foreign trade arrivals with cargo embracing a new national equip in February, 1984, revealed an in- men, achome, Involving the exerease in tonnage of 7.9 per cent. penditure of Fra 160,000,000 over over February, 1938, while deparpeted for the former and three for a period of alx years.

tures with cargo were 3.3 per cent, The reforms also aim at over-greater. hading the machinery of Justice, And the re-organisation of the ruiways.

Arrivals in ballast decreased by 1.3 per cent., but departures were | 13.4 per cent, larger.

the railways, it is pointed out,

Coasting trade entrances and we very badly hit by the de- prosion. Although contributing clearances with cargo were 0.9 and heavily to taxation, they receive 6.3 per cent, heavier respectively, large aubaidies from the Govern-and in hallost 5.2 and 4.4 per cent. melt-Reuter.

German Currency

Berlin, April 4. view of the impending meet ing of Germany's creditors, the Reth bank are most interesting.

hey reveal a loss inst week of

ton

Hold million

marks. Foeign currency holdings are at preent worth 245,200,000 gold maks as compared with 835,000, 00 gold marka last year.

ove

greater-British Wirtless.

The Chaiman's Cup WOR H.B. Joseph's crew.

The Chinese Cup was won by A.V. Alvares' crew,

EXCHANGE

¿MARKET RATHER

IRREGULAR

оп

= RADIO BROADCAST

the TO-DAY'S BROADCAST.

The following quotations London Stock Exchange have been received by Mesors. Swan, Culbertson and Fritz in conjunction with Reuter. Market:-Generally quiet and rather

irregular, Chinese Donds,

April 3.

4 Bonds 1808

(Eng, las.) £100 45% Loan 1908

6

G Reorg Loan

Apell 4.

£100%

£ OG

£ 00

Loan 1912... 74

£74

£ 97%

£ 69

1913 (Lan. Iss.) £ 97% 5% Bunds 1820-47 & 87% 5% S'hal-Nanking

£ 68

Illy.

Tient-Pukow

87%

£ 38-41 £ 38-4}

£ 27-30 £ 27-30

5% Tlent-Pukow Railway (Supl Loan)..... 5% S'hal-il'chow-

Ningpo Rly.... £ DOM £ 97% lonnn Rly... 31% £32 Hukuang Rly. 1911***

2 43 5% Lung Tsing U.

£ 1G Hai Rly, 1913

Foreign Bonds and German 7% Int.

70

Loan 1807 ..

£ 80 Japan 0% Sterling

Loan 1924... Japan 6% Sterling

£ 43

£ 18 Banks

78%

£ 80%

Loan 1924. £ 90% 2 01 II.K. & S'ha! Bk.

(Lun. Regd.). £139 £138 Chartd. Bk. £ ah. £ 16% £ 10%

Industrials and Breweries.

Elec. Associated

17/- Industries

18/- Tob. Brit.-Amer.

110/4 120

(Bearer)

......

Chinese Eng. and

won

by

Min (Bearer)

23/3

23/6

Tato & Lyle

83/6

80/6

63/9

53/74

80/17

In-

42/- 42/3 .42/3

37/47% 37/4

89/0 62/-

51/10 20/3 29/3

42/-

In addition to the above a new Cup was put up for competition called the "Trial Cup" open to mixed crews of Sentor-Juntorn and this was won by Mr. H. J. Silva's crew. Three boots

participated,

A most enjoyable informal Dinner was held at the Club House after the Regatta, during which the prizes won were distributed

Al interesting wedding tool place t the Registry yesterday The boat house is in a good state of afternoon, when Mr. J. M. Morkaus, repair and all the beats were over acting manager of the Netherlands hauled and repainted. It is consider- Indies Commerical Bank, was marred, however, by the Boat house, sub- Baumann. A re-committee that the time has arrived ied to Mins Zina cepilon was subsequently held at the for now boats to replace the old Mr. and Mrs. Foure" now in use and steps are be Hongkong Hotel. Morhaus leave to-taorrow by the ing taken to raise the necessary funds Empress of Japan for Shanghai, attain this object, without having where the church ceremony will take to call on the Club's general funds. place, and will then

to proceed Japan for their honeymoon.

GYMNASIUM.

The bank note circulation has incensed from Mks 281,000,000 to

Full use

was made by Members M: 3,074,000,000. The bank note

during the year of the facilities offer- courage is at present 6.7 per cent.

Staten Is no longer the Federal ed for indoor training in the Gymnas Depletion of the coffers is Reserve Bank but the Treasury, Juni and if the same interest is shewn siered to be merely a matter of tite, unicas drastic measures are and it appears that in future the during the coming winter season it then to check the flow of gold out Central Banking System will be an would be advisable to re-organise the organ of Treasury policy, includ-usual regular programme of training

as in the past. ofGermany.--Reuter,

ing the regulation of monetary The renovated billiard table has conditions as a whole, encompass-proved a great attraction and is in billiards ing much more than Government constant daily use. Two finance.--Renter,

handicap tournaments were held dur- ing the year and were keenly con- texted.

Sterling's Strength

London, April 4 The further weakness of the dol-' In and franc in terms of sterling ishow attributed to the inherent glength of sterling due to the Hsonal demand, but principally to

Mr. F. W. T. Rosa very kindly donated the prizes for the winner and runner-up of the Individual Handi- caps.

Growing Strength.

London, April 4. The Government's latest fund. t satisfactory budgetary positioning operation has been generally

Great Britain, compared with well received na further proof of The Club regret to record the death t deficita shown by both France the growing strength of Britain's of the following members during the

financial position,

year: Mr. A. Rodgers, Sir Clout El America.

Sever, Mr. G. E. Ellams, Mr. B. M. Additionally, apprehension pre- The Financial Nows points out at Mr. V. Rodrigues and Mr. vils over the possibility of In-that the amount of the loan is A. I. Alves. fionary Socialfate legislation in identical with the original Ex- Aherica, while fears for the future change Equalisation Fund and ofthe franc exist in Paris.

interprets this as the Govern ment's desire to place the account. on a permanent basis.

On the other hand, the monthly reiew of the Midland Bank states tht the dollar probably under- ved in the present exchange qutations and it may yet be thought necessary by the American ahorities to use

Treasury Bills.

A further marked decline in substantial Treasury Bill rates is anticipated p of the recently created Ex-although it is pointed out that a

chage Equalisation Fund in order to hold the dollar down.

Results of Devaluation.

reduction in Treasury Bills may only affect the holdings of publici departments, leaving market sup- plies unchanged.

NEW MINISTER TO SIAM

SIR JOSIAH GROSBY APPOINTED

London, Apr. 4.

Sir Josiah Crosby, K.B.E.. has been appointed Minister to Bank kok. in succession to Mr. C. F. leading Dormer.

Courtauldr Distillers Dunlop Rubber

verready 5/- sh.

Elec.. (England) General

Impl. Chem Boots

dustries impl. Chem Ind. Def. 10/- sh. Impl. Tobacco Woolworths Internat

Nickol no par val

Johnson Pinchin

10/- sh. Turner & Newall ·

9/4/ D/4% 119/- 03/3

110/3 03/0

DUAL TRANSMISSION FOR THIS EVENING

1

From Z.B.W. on a wavelength of -255 metres?

5-8 p.m. European Programme. 6.6.30 p.m. Chlidren's Bludio Con- cert.

Uncle Peter will give the third of In- bla talks on Typical English stitutions:

'A Country Fair." From the Studle..

6.30 p.m. "Mirs. E. C. Carter (of the Institute of Pacific Relations) will

speak on the subject of "Con

Between the Nations of the

the

6-0 p.m. A Relay of the Hongkong Hotel Dance Orchestra from Hongkong Hotel Roof Gardon.

6.30-7.30 p.m. Recorded Music, 6.30-7 p.m. Orchestral. Overture-Light Cavalry (Suppo) ·

Now Light Symphony Orchestra. Shophord's Hey (Grainger) Molly On the Shore (Grainger)

Royal Opera Orchestra, Covent

Garden. Coppella Ballet (Dance of the Auto-

mutons and Waltz (Dellbes) Caprice Viennois (Kreisler)

San Francisco Symphony Orch.

Directed by Alfred Hertz. Love for Threa Orangen (Prokofieft) London Symphony Orchestra

directed by Albert Contes 7 p.m. Closing Local Stock Quota- tions, etc.

7.03-7.30 p.m. Variety.

Song By the Waters of Minnetonka Mavis Bennett (Soprano). Violin Solo-La Fille Aux Cheveux De Lin (The Malden with Flaxen Hair).

Violin Solo-En Bateau (Boating)

Fritz Kreisler. Orchestral-A Little Love, A Little

Kisa. (Un Peu d' Amour) Orchestral Because

Abert Sandier and his Orchestra. Song Sweetheart Darlin' Song-Love's Roses

Danny Malone. (Tenor). Orchestral-Waldteufel Memories

De Groot and his Orchestra. 7.30-8 p.m. From the Studio. Humouroux Interlude by Dryan Lewis, (I) "Gunner Joo" (the Nava} Opposite number to "Sam")

(II) "An Eyewitness account of the Oxbridge v. Camford Boat Race rowed in America.

$ 27% $ 27

D

30/0 37/- 51/3 62/- 24/0 24/0

Miscellaneous.

10/7% 19/9

13/10 13/10/4

(111)

Answers to various corres.

Relected}

Bp.m.

Report

Unilever

Anglo-Dutch Burma Corpn. Ra

10..... Canadian Pacific

Rly. $25 sh.... 10% $ 16% Chartd. 15/sh.

(Bearer)

£2/0 23/- Gula Kalumpong

Rubber Trepca Mines. Langlaagte

ord shi Rubber Trusts

Estates London Tin 10/-

shi. Pekin Synd. 2/-

19/0

10/6 12/3 12/44

23/0

23/3

14/3

14/-

3/

2/9

27/3 27/6

66/ 407-

55/ 30/-

20/744 25/73%

48/1 19/0 01/10

02/8

20/0

20/0

£ 21% £ 214

51/10

1/10

Shai. Else. Constr. Van Ryn Deep .. Elec. Musical In-

dustries

- Olls. Anglo-Persian Oil Burma 011

(Deferred) Southern Railway - Royal Dutch 100

1. sh. Shell Trans and Trad (Bearer). Geldenhuis ... Crown Mines

30/- 222/6

30/- 220/134

EXCHANGE RATES

Geneva Berlin Oslo.. Athena Milan The Midland Bank,

Buenos Aires Shanghat The new Minister is, as a result supporter of the polley of cheap and plentiful credit, points out in of this appointment, returning to New York. the country where he commenced Amsterdam no reduced the internal value of to-day's monthly

Prague

he article points out that the dealuation of the dollar has not inteased the supply of money; has

Bettences afire.

review

that

pondents (carefully

Local Time and Weather

8.03-10.30 p.m. Chinese Concert from the Studio.

10.30 p.m. Close Down.

All relays of the Hongkong Hotel Orchestras are by courtesy of the Management and during the intervals recorded music will be brandenst from the Studio.

8.30-10 p.m. European recorded programme Broadcast by "Z.E.K." on 040 k.c'h.

Orchestral-Danse Macabre (Dance of Death) (Saint-Saens, Op. 40).

Philadelphin Symphony Orchestra conducted by Leopold Stokowski. Orchestral--Les Preludes-Symphonie

Poem (Liszt),

London Symphony Orchestra

directed by Albert Cuntes, Octet Valso Caprice (Rubinstein,

arr. Crooke),

J. H. Squire Celeste Detet. Vocal Gems Helon (Offenbach,

arr, Korngold),

Columbis Light Opera Co. Selection-The Land of Smiles

(Lchar).

London Theatre Orchestra Song-Chorua, Gentlemen (Lohar).

Perey Heming (Baritone), Band Music Aldershot Command Searchlight Tattoo"Carmen"-- Selection (Bizet).

played by the Massed Band of the Aldershot Command conducted by Bandmaster C. B. Ilewitt. Vocal Gems-Rose Marie (Friml). Vocal Gems-No, No, Nanette

(Youmans).

Light Opera Company. 50.15/16 | Orchestral-Viennese Memories of

Paris...

Apr. 9. .78.13/32

Apr. 4. 78,0/32

15.08

13.01

Helsingfors

22014

220

10.90

19.00

536

537

.00.1/16

..30%.

101%

..1/44

1/4%

..5.17

5.15%

.7.05

7.04%

.28

.12444

37.27/32

37.13/10

1/0

.22.13

.19.39

Vienna

th dollar, and is not likely to have "large supplies of Bills which only his diplomatie career as a student

conthe Government can supply, are interpreter in 1901, and where he Madrid... vally Important direct

on internal monetary essential. This renders undesir remained in various capacitica Bucharest.

ablo any new attempt by the until 1917, when he was appointed fengkong The article concludes by pointing Treasury at permanent funding of Conani at Saigon. In 1919, he was Brusscis

Consul-General Stockholm on further part of the floating appointed acting ou that the real authority moetary affaira In the United debt."-Router.

FIVE DAYS FOR A POSSIBLE CHANGE IN OUTLOOK

DISARMAMENT BUREAU TO MEET

ON TUESDAY NEXT

Nio

22.804 at Bangkok, and a year later he Copenhagen,

Lisbon....

.110 returned to Salgun. From 1921 to

.1/6.3/32 1931, he was Consul at Batavia, Bombay

4% and since the latter year has been Yokohama 1/2.5/32 Minister to Panama.-Reuter.

Mantevideo. 37% Belgrade.

SULTAN OF JOHORE.

PAYS COURTESY VISIT TO JAPANESE EMPEROR

Tokyo, Apr. 4. London, Apr. 4. the exchange of views which have

Accompanied by the British Am- Arthur Henderson, Pre-sinco taken place between thebassador to Japan, Sir Francis Lindley, Sultan Ibraheim of alont of the Conference for the Governments chiefly concerned.

It may be found necessary to Johora to-day paid a courtesy rquction and limitation of arm- ante, to-day met Mr. Aghnidos, nilow further time for negotiations visit to Emperor frohito of Japan, Drector of the Disarmament See-through diplomatic channels and

jir.

which would Press,

from

Montreal.

Lehar (arr. Henry Hall).

The B.B.C. Dance Orchestra. Song Bright is the Ring of Words

(Vaughan Williams).

28 Song The Roadside Fire (Vaughan 124%

Williams).

Stuart Robertson (Baritone),

512 Fox Trot-You're an old Smoothe

1/0

22.10

19.39

22.39%

110 1/03/32 414

1/2

3756

.235 .5.16%

226

0.1654

1074

19.15/10

104.7/10

Silver (spot)....20 Silver (forward) 20.1/10 War Loan .101%

-British Wireless.

ALIVE OR DEAD?

LIU KWEI-TANG'S FATE UNKNOWN

Nanking, April 4,

feat.

of

The Sultan and the Sultana will that Liu Kwol-tang, the notorious A message from Tsinan saya tip of the Lengue of Nations, and the Bureau has power to grant leave Japan with their aulie on dicussed the procedure to bo further adjournment should it be April 12, Aalling for the United bandit leader, has been missing followed at the Bureau which will felt by the great Powers that the States by the N..K. Hner Chichibu since his followers fed castward Yokohama.-United from Laiwu, after a crushing de aupplementary efforts have not Maru my at Genova on April 10.

The Bureau la under Instruc-reached the stage

It is not certain whether Liu to be ties by the decision of tho enable definite decisions

The Sultan and Sultan Geral Commission of the Con- taken on the second reading of Jobore, are making a leisurely tour is alive or dead-Reuter. fence to prepare a clean text the draft convention. of the British Government's draft Mr. Henderson, accompanied by chvention presented in March Mr. Aghnides, leaves London on Friday for Paris and will have ollut year.

The Bureau, in preparing this an interview with the French Minister, M. Barthou, t; wan Instructed to take into Foreign alount the results achieved at on Saturday before proceeding to tGeneva meetings last year and Geneva-British Wirelená,

of the world. They passed through Hongkong two weeks ago on the Fushimi Maru.

Mrs. A. D. Brasier-Crengh has ro- turned to the Colony after two months absence, during which time she visited Ceylon, India and Malaya,

The wedding. took place at the Re- gistrar's Umce yesterday morning of Eric Nool Glibborn, of the Imperial Chemical Industries, Chins, Ltd. and Gladys Beatrice Chittonden, of long-

kong.

(Nice Goings On).

Waltz-Adorable.

Ben Solvin and his Orchestra.

10 p.m. Close Down..

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