1934-10-15 — Page 1

THE FIXTURES AND

THE TILING

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China Building.

Tel. 20269.

fo

Dollar on Demand: -18 7nager T.T. on New Y%}#8#40?«r« Telegraph" Lighting

Fling rom, Liu,

The

FIRST EDITION

Waterstadsgm Street, Hongkong

Library, Supreme

Hongkong Telegraph.

FOUNDED 1881

No. 14423

一拜禮 號五十月十英港香

MONDAY, OCTOBER 15, 1934.

日入初月九

BINGLE COPY 10 CENTI 130.00 PER ANNUM

DUNLOP

DUNLOPY

Fort

is unequalled by any other Tyre

in the world

CHINA ANNOUNCES TAX ON SILVER EXPORTS

NATION WEEPS

FOR ITS KING

GUNS BOOM SALUTE TO DEAD RULER

YUGO-SLAVS' TOUCHING TRIBUTE TO ALEXANDER

PEASANTS' OFFERING

IND4.

(SPECIAL TO "TELEGRAPH”)

(By Telegraph. Copyright Telegraphic Messages Ordinanec,

Received, Oct. 15, 9.29 a.m.)

Belgrade, Oct. 14.

As the Yugo-Slavian destroyer, Dubrovnik, with its sad burden, approached the port of Split at 5 o'clock this morning, the united batteries of the Yugo-Slavin fleet fired salvo after salvo in a royal salute to the late King Alexander.

The bells of all the churches; sa along the coast tolled continuous- ly and masses, of people stood silent and with bowed heads, awaiting the arrival of their rul er's remains..

The destroyer, followed by a French flotilla, moved slowly into port and the ships of the British Mediterranean Fleet thundered aj

jast salute.

TOUCHING DEMONSTRATION.

A special tunt from Izar brought Father Korushetz, leader of the Slovenin People's Party and former Prime Minister, who for two years was interned on na

aland near Hizar by order of the, late King.

The veteran politician loud werping silently beside the coffin. and then turning to the mauring naxes, anid:

"At this moment when all Yugo-Slavia is weeping over the coffin of a great King, the people must forgive the past. We must work and live for Yugo-Slavia.

After the funeral train had left. for Belgrade, carrying Prince Arsene, unele of King Alexander, members of the Government, and the French. Minister of Marine. The vast crowd remained for many minutes motionless and silent.

Then slowly it drifted and dis- solved away-Reuter Special.

PEASANTS SCATTER FLOWERS.

Zagreb, Oct. 14.

National strains of the

Tho

SONAROČANOSTIKA (TU TENNIS

HOLLYWOOD TO MOVE HOUSE?

Florida Offering Tax Advantages

(Specist to "Tatograph";

it Pelepiph, Capult, Telepenphin Alex.

Darlingmea 18. kremet,

pr

Marni Oct 14

The City Commission S

Trend Of Market In Hongkong Depends On Local Government

Under the watchful eyes of soldiers, ancrat service men and police, an initial instalment of a $2,250,000,000 shipment of gold is non leaving San Francisca for the Denver mint. A searchlight unit from the fire department brightened the scene as a portion of the 1500 tons was loaded into special cars.

U.S. INCENSED GERMANY.

BY

UNFAIR

al present investigating FISCAL

whether

11

tionally granti

can

constitu-

1 Patrok exemption for a period of years moder tu sure Cali fornia's motion picture dustry.

into Florida

נ'ד

1 Mr Upton relem elected to the Camdor 5. office in Cahforma he wil endeavour to tax heaty the picture industry, and taking!. advantage of the uneasiness of the companies. Fiorala i5 now holding out a tempting

The bait.

saving. from examption in state taxation would soon pay the cost of The industrty's removal, if is believed.--United Press

Anthem announced the arrival of satPRO ESCORTELAKA PAES4922133. Z

the funeral train at Zagreb sta-

tion to-day, bearing the late, King

of Yugo-Slavla on a lust journey

through his native Innd.

The arrival of King Alexander's bler evoked an impressive demon- stration of loyality and affection from the whole people. Waiting peasants scattered masses of Bow- ers along the railway line.

SAD PASSING

Serbs, Bosnians, Mohammedans, Catholles and Croats, all the varied populace, without distinc tion. Blocked bare-headed to the railway line to see the passing of the royal train and pay their last -tribute.

The coin was placed in a entesi falque in the station's royal re- ception room where 'crowds filed. past for hours.

The funeral will take place on Thursday. Reuter,

European Killed In Shanghai

ATTEMPTING TO AVOID PEDESTRIAN

STRANGE STREET ACCIDENT

Shanghai, Oct. 15.

Mr. A. M. McDougall, formerly

POLICY

DISCRIMINATION IN LOAN PAYMENT

TRADE TREATY

ABROGATION

Washington.

Oct. 14.

There is a distinct strain upon Ameri- can-Cerman com- mercial and fiscal relations, produced by Germany's week- end announcements terminating the

most favoured nation" trade treaty with

United the States and declaring that she would only pay 75 per cent of the interest due to American bond-hol- pay 75 pper cent. of ders of the Dawes

issue.

0779:ORPOMÉNBALLET BRESTOVANI REKENAARNA EJAAN TERJE JETONTOLESA

INDEPENDENT ADVISER

General Johnson In New Role

Special to "Telegraph")

(ly Telegraph, Compuright, Tekoraphic Mem

erdonner, 1. Berrived, October |

Washington, Oct. 1. General Hugh Johnson, administrator of the N.R.A.. is rapidly recovering from He has a sinus infection. been in poor health for some weeks past..

He said he hopes to take a month's vacaton and there- after may establish his own business

industrial counsel.--United Press.

05

MR. JUSTICE ACTON RESIGNS

Held Judgeship For 14 Years

(Special to "Telegraph")

(Dy Telegraph, Copyright, Telegraphic Men | pages linasee, 1901. Received, October 1. Pro him)

London, Oct. 14.

NANKING PROTECTS

HER CURRENCY

NO INTENTION TO ALTER

DOLLAR'S CONTENT

U.S. CONTINUING

PURCHASES

SILVER EXPECTED TO ADVANCE IN LONDON

NANKING, OCT. 14.

THE CHINESE NATIONAL GOVERNMENT HAS ISSUED AN ORDER REGARDING THE IMPOSITION OF A NEW DUTY ON SILVER EXPORTS.

“IN VIEW OF THE UNDUE RISE IN THE PRICE OF SILVER IN RELATION TO THE LEVEL OF GENERAL COMMODITY PRICES. THE NATIONAL GOVERNMENT, IN ORDER TO SAFEGUARD CHINESE ECONOMIC INTERESTS AND TO PROTECT CHINA'S CURRENCY, HAS FIXED A CUSTOMS DUTY ON THE EXPORT OF SILVER, EFFECTIVE AS FROM OCTOBER 15. DETAILS ARE AS FOLLOWS:-

On silver dollars and mint silver bars 10 per cent. duty, less 24 per cent, minting charges already paid, --that is 74 per cent. net..

On all other forms of silver 10 per cent. duty, in lieu of the above 21⁄2 per cent not paid.

In addition, an equalisation charge will be imposed on the export of silver equal to the deficiency, if any, existing between the theoretical parity with London silver and a rate of exchange officially fixed by the Cen- tral Bank of China, after making due allowance for the payment of the export duty."

DAILY RATE.

Simultaneously with the promul gation of the National Govern- ment's order regarding the Im- position of a new export duty on silver, the Central Bank of China has made the following announce- ment:-

impose an embargo on the export of silver and pre. ferred the imposition of a flexible export duty that would restrain exports of silver within the limits acta- ally required by balance pay.

ments.

The Finance Minister stated in "Notice is hereby given that the General Bank of China will notify conclusion that he would not even The customs authorities at 11.30 consider the reduction of the of the Chinese am, dally on all business days, allver, content beginning as from October 15, of dollar, which proposal, he stated, an official rate for determining the was never mentioned at the con- deficiency between the theoretical ferences-Reuter. party of London silver and the lexchange rate on London in Shang-! hat, in accordance with the terms of the Chinese National Govern. mont's order fixing the export duty on silver and imposing an equalisation charge on the export of silver."

селве to

U.S. POLICIES UNCHANGED

SILVER BUYING "OUR OWN AFFAIR"

DOLLAR PROSPECTS

Washington, Oct. 14/

Roosevelt declares

EYES ON HONGKONG

EXCHANGES EXCITED

LOCAL POLICY

AWAITED

H.K, COMPELLED TO ACT

The Nanking decisic caused much excitement in Hongkong and Shanghai exchange

this morning, though it was not totally unexpected..

་

markets

The official rato of the Hong-

dollar, an opening, was 1s. as Saturday, 7-7/81, the game with gold dellars at 40%. A; rates in the local, market are in do nominal, banks declining business except at the official

rates.

The future trend of the market in Hongkong depends on the policy of the local Government, and until that is nominal.rates will prevail.

disclosed,

The expectation is that the Hongkong Government will be Frompelled to take netion of some kind, in order to protect its cur-

reney.

It is believed that the effect of China's new order in London and New York will be to raise silver

prices still further.

In Shanghat, the market opened at is, 6.7/8d., sterling and 36.5/8 rold dollars. Gold bars, which closed on Saturday at 908, opened at 927 this morning and later went as high as 931, but later reacted. again to 927. The market, an in Hongkong, is purely nominal.

GOVERNMENT WATCHING SITUATION

The Hon. Colonial Trea- surer (Mr. Edwin Taylor), when asked by the Tele. praph this morning whether the Government intended to take any action to protect the Colony's currency, stated that he could com- municate nothing to the Press on the subject..

Asked if the Government were considering the ques- tion of action, Mr. Taylor can State: replied: "You that the Government is watching the situation."

TYPHOON WARNING

PROTECTION MEASURE,

the National Commenting on Government order regarding the Mr. Justice Actos has resigned new duties on- silver exports, Dr. the office of Judge of the King's H. H. Kung, Finance Minister to Payment is due to be mide Bench Division of the fligh Court the Government, stated that there! of Justice, which he has held since had been no reason to expect "thut of Glasgow, was killed in an un-morrow.

the forces which had been recently President While there is no official com- 1920. usual traffic accident in Bubbling Well Road to-day.

The Hon. Sir Edward Acton, stimulating the price of silver that it is the Government's in- ntent on the subject, the American While driving his motor-cycle Government considers the reduction who was burn in 1866, was called aboard would soon

crowded street he STOP PRESS forced to swerve Fuldent was of the interest payment on the to the Bur in 1891, and practised operate, therefore the Chinese tenton to raise commodity prices in the Northern Circuit. Ile later Government, out of regard for the Turther and adjust the relationship attempt to avoid a Chinese, who crimination against tho

became Lecturer in Law at the economie welfare of the people between the diiterence of groupying, at 9.10- a.m. to-day, states.

living in China, has taken this and prices. ran across in front of him.

States. The machine struck the Chinese

The bond-holders of seven other University of Manchester and was glancing blow, and skidding, countries are to be paid in full, it Judge of County Court at Notting-measure as a necessary stop to! mealate devaluation is expected Long 13 lat., moving north-west.

bam from 1918 to 1920. He is a safeguard China's currency from Government policies are infla threw Mr. MacDougall heavily. is pointed out.

Bencher of the Inner Temple the potentially dangerous drain on tionary. A slow price rise in coin

the Country's monetary reserves modities is expected. Reuter Special.

The U. 5. comar In terms of result of the Yugo-Slavlan affair. und in order to place a chock upon

forönga ukenange is expected to will be avoided, the operation of harsh deflationary

--Lens than seasonal general busl- forces, which had been reflected in and eignty-six cents to the pound pess improvement is expected falling commodity prices,

Belgrade, Oct. 14.

It is officially announced that was found that his kull was secretary of King Alexander's assassin has fractured.

yon identified as Balgarian later.

If died four

United

The Chinese Wan- only slightly}

SHAKES POLICY. Injured, but, when the motor. The denunciation of the trade eyelist was brought to hospital it)

treaty does not accord with State Mr. Cordell hours Hull's policy, aiming at extension Hamed Vlada Georgieff, who was' Mr. MacDougall had only been of "most favoured nation" treat-

chauffeur formerly

to

in months the three Macedonian terrorist chief. Ivan Reuter. Michailov. United Press.

BACK IN SHANGHAI

Bventual DUI ROC

Stadione al around tour dollars

The Manila Observatory, report-

that the typhoon Is in 'about 126

Dr. Kung said that the measure sterling. Suver imports are be during October with a slightly had been decided upon after most used to stabuse exchange, higher volums in November and iment al the breaking down of

Shanghai, Oct. 14.

careful consideration of various expected that in repy to December. Farmer business will Shanghai-international trade barriers.

The State Department's reception Mr. Ariyoshi, Japanese Minister proposals for meeting with their over Note the Chinese be bigger during the next few of the The sloop, H.M.S. Folkestone, is due of suggestion by the German to China, returned here from Soo-emergency and after full consulta-Government will be told that "sil-months, partly for seasonal rea- unusually generous Government for chow this evening, where he paid ation with lenders of business and ver buying is our own domostie ons and partly because here from Shanghai to-morrow and Ambassador, Herr Luther, the mino-laying cruiser, II.M.9. Ad-negotiations to replace the present brief visit after completing his finance.

Preponderous official opinion is disbursement. Business sentiment a better.Swan, Culbertson and cool-official mission at Nanking-Cen-. venturer, is also due on the same day trade treaty, was very

that any widespread conflict as a Fritz. from Nimrod Bound,

Reuter,

tral, News..

The Chinese Government.

considered that it should not

anair.