1934-08-27 — Page 12

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THE HONGKONG TELEGRAPH. MONDAY, AUGUST 27, 1934:

A NEW MONOPOLY

COMPANY TO MANAGE 'ALL'

PAWN SHOPS.

SOLDIER RETURNS.

DISAPPEARED WHILE ON

DUTY ON FRIDAY NIGHT

under

on

N.R.A. SQUABBLE

JOHNSON NOT PLEASED

WITH POSITION

Washington, Aug. 25. President Roosevelt yesterday held separate conferences with the National Recovery Administrator, General Hugh Johnson, and the

N.R.A..

General Counsel of the Mr. Donald R. Richberg, who is also Director of the Industrial Emergency Council

A Chinono syndicate with strong Private J. Coles, attached to the financial backing has been formwviitegĺmonial Polico East Lancashiro with a view securing a pawnshop Regiment, Shamshulpo Barracks, business monopoly for the Colony who disappeared from duty from the Government, with a pay-Friday night, has been apprehend- ment of $300,000 tax annually, Among

dotention. its organisers are Mr. Li Hoi-tung, ed and put J., and other prominent merchants. It is understood that he returned The monopoly, if granted by the Gov-to Barracks yesterday shortly be ernment, will effect eighty-ond pawn- fore noon. ahopa now operating in Hongkong,

The President afterwards in- Kowloon, Now, Territories and Coles was on duty as Regimentel Cheungchau Island

Police patrol from 6 p.m. to mid-nounced that General Johnson Is Interviewed by a representative of night on Friday, and his disap- continuing as N.R.A. Administra. the 3. C. M. Post, an organiser of the pearance was frat noticed about tor and that he had asked, regard- Monopoly said that the schome would 9.46 p.m. His greatcoat and trun-less of differences, that now plohe add a substantial amount to the pawn-choen were found in a latrine.

to the Government. shop tax paid Apart from the pawnshop owners. the The Police were communicated public would not be affected, as the with on Friday night but no trace present rate of interest charged for was found of the missing man un- ull forms of loan would be observed til his re-appearance yesterday, by the monopoly. With unity of management and supervision and a reduction in the number of pawnshops

for reorganisation of the N.R.A. be propared within a fortnight, when President Roosevelt's ex- ports will put the plans into effect. General Johnson and Mr. Richbory agreed that this could be done.

to between 40 to 60 firme for the QUEEN OF HOLLAND.tween them. Nevertheless, obser-

whole territory the monopoly organ)-

in

sers anticipate a big decrease operating expenditure, which would

It is emphatically announced that no break has occurred bo-

vere insist that there are definite Indications of a conflict under tho

enable them to meet the correspond- HAS BREAKDOWN WHILE EN surface. Ing increase in tax payment.

Opposition Fears,

‚' ROUTE TO NORWAY

་:་་

same informant, was based on the suffered a

General Johnson claims that the

programmo Oslo, Aug. 25. reorganisaton Opposition to this scheme, said the Queen Wallhelmina of Holland proposed by him before President! nervous break-down Roosevelt's departure for Hawaii; fear, that after the changa many during a voyage to Norway, and a while Mr. Richborg states that the workers attached to the present 81 firms would be thrown out of employ-now in bed at Aasgaardsstrand, fortnight's interim, fixed by the President, will give General John- near here. ment. In this connection, the inform

son "time to work out his own idens."

ant wald that the monopoly would Princess Juliana is at present endeavour to re-employ es many of

it is believed that a complote present staff as could be absorbed un-nursing her mother-United Press. The visit recalls rumours that der the new management,

the engagement of Princess programme has been ovolved, foa The Informant added that a simi-Juliana to Prince Charles of Swo-tures of which are unpleasant to tar pawnshop monopoly system obdon may be announced shortly. tained in the Strait. Settlements and) Annam, and they hoped that the same. was applleable to Hongkong.

Proprietors' Opposition.

petition to the Government against) the monopoly.

General Johnson, who has been! given a fortnight in which to de- cide whether they are acceptable.

Reuter.

US. LIBERTY LEAGUE.

!

Roosevelt's Criticism Of New Body.

From enquiries it is understood Over Afty proprietors of pawnshops assembled on Saturday afternoon at that the promoters of the monopoly a meeting held at the premises of the seek to secure the right from the Gov- Chinese General Chamber of Com-ernment for a period of ten years. merce under the chairmanship of Mr. Of the 66 pawnshops operating in Chau Chi-hing. Fifty-threo pawn-the Central District of Hongkong, shops were represented. Unanimous cach pays an annual amount of $2,000 opposition against the monopoly was to the Government. Ten pawnshops vulced. The Chairman explained that, operating in Kowloon, Wanchai and according to the present scale of tax Balyingpun each pay $2,000, and six) payment to the Government, pawn-shops in New Territories and Cheung-od shops paid over $180,000 annually. It chau Island each pay $500 annually. was difficult to aco how business could It is roughly estimated that these 81 be improved with a payment of $300,- firms advanced $7,000,000 in loans in 000 in tax. The Colony's business 1033.

It is noted that the Canton Muni- depression had affected the pawnshops more than any other line, with the cipal Government is contemplating else as saying that the tenets of result that, of 150 pawnshops operat-opening official pawshops in Canton ing only three years ago, only 81 re- with a big capitalisation. following the League appeared to be "Love at thy God, forget thy neighbour." mained open. The meeting elected a the success of its experiment Committee of eleven members, with Shiukwan, with a capitalisation now the God they really meant being Mr. Li Yau-taun, C.BE to draft n of $150,000.

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Washington, Aug. 25. President Roosevelt has inform- pressmen that the newly-form- ed American Liberty League em- phasises too much the protection of property and too little the pro- tection of the average citizen.

The President quoted some-one

property.-Reuter.

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