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FOUNDED 1881

No. 14488

# +ЛERÆF THURSDAY, JANUARY 10, 1935. 日六初月二十

CRICKET TEST SENSATION

FIGHT TO GUARD SILVER PRICE

U.S. TREASURY GIVES REASSURANCE

CONTINUING PURCHASES

DESPITE CHINA PLEA .

(SPECIAL TO "TELEGRAPH”)

Washington, Jan. 9.

The reports from Shanghai that the Secretary of the Treasury, Mr. Henry Morgenthau, has promised China to moderate the U.S. silver policy, continue to rankle with the Silver Bloe, who intend to make stronger efforts to compel him to adhere to the purchasing plan.

CHINA'S TRADE DECLINE

PEACE WITHOUT PROSPERITY

SMUGGLING EVIL

London, Jun. 9.

"A more peaceful China, but alas, less trading activity," com- ments the Manchester Chamber of Commerce in its annual re- view of commerce with Chinn, drawing attention to the dlmi- nishing Chinese purchasing power.

This declin of purchasing jower is seen as the chief cause of lanceshire's rapidly contracting plece goods trade. And it k ficult to see how matters can be improved until China either obtains better prices for her products in- or finds an increased demand for hir export materials abroad, saya the review,

The leaders of the Bloc to-day privately stated that they have never expected the Silver Purchase Act to have very far-reaching results, owing to the continuedternally split in their ranks which prevented them from exert- ing any real pressure. Therefore they were quietly attempting to unite the rival factions through the medium of Senator Wheeler's remonetisation plan.

From usually reliable sources in Washington it was learned that the Government will continue to buy silver in substantial amounts in spite of the objections from the Far East.

However, it is stated that they intend to make any such purchases at the lowest prices, and also to avoid purchases which would be liable to cause violent fluctuations in the price of the metal,

Later reports state that in 'con- nection with the persistent -rumours that the Treasury intends decreasing the sliver purchases. oMelals of the Treasury have drawn attention to Mr. Morgen- thau's statement that he intenda to carry out his end of the Silver Purchase Act.

They also reiterated that the budget estimates of seigniorage | were no indication of the quantity of silver which might be purchas ed, and rather indicated the con- tinuation of a substantial purchase programme.-United Press,

SHANGHAI REACTION

Shanghai, January 10. Local currency was firm in the Foreign Exchange Market here early this morning. The market was quiet.

15 DIE AS

TRAWLER FOUNDERS

HUMBER RIVER TRAGEDY

ONLY TWO SURVIVE

London, Jan. 9.

It is feared that 16 lives were lost to-night when the 336-ton trawler, Edgar Wallace, sank in the Humber River.

The trawler struck a sand bank when steaming near Hull, heeled over and sank immediately.

of

The trawler carried a crew The firmness of the local dollar seventeen and thus far there are was considered to be due largely to only two survivors. One of these

WAR

|

While Japanese competition in China remained very keen, this was especially due to the proxi- mity of the market, and it in to be borne in mind that Japan's ex- ports, too, are decreasing in the Ching field.

The frequency of the Chinese tariff changes in compelling buycre to exercise the greatest caution. Moreover, customs receipts, ans- wering to the law. now show

ENGLAND'S STRATEGY

WICKETS

FALL FAST

Barbados, Jan., 0 What little cricket was possible in the continuation of the first Test between West Indies and England to-day was sensational. England lost two further wickets without any addition to the over- night score, and then Wyatt Mr, Homer S. Cummings, U. S. At-applied the declaration. Before

General, who predicts # world agreement on currency matters, the close West Indies had con- ceded three wickets in their second innings for 33 rina, leaving them 54 ahend with seven wickets intact.

torney

ROOSEVELT IGNORES COURT

:

WILL ENFORCE OIL CONTROL

INDUSTRY IN TURMOIL

London, Jan. 9. President Roosevelt to-day

Heavy overnight rain had soaked the wicket, and although inspec- tions were carried out before lunch and afterwards, no play was possible until after tea.

r

HYLTON'S BOWLING

But it was worth waiting for. Hylton took two wickets with attccessive deliveries, the ball coming off the crease very fast and kicking. Hammond was the first to go, being taken by Rolfo Grant with Hylton's second ball. With the very next delivery, Hylton had Holmen caught by Achong, and Wyatt immediately closed the innings, the score being

diminishing totals, for the heavy declared emphatically that the 81 for 7, with Iddon not out 14.

duties enforced are encouraging large scale amuggling.-Beuter.

AIR ROUTE TO TIBET

CHENGTU-LHASSA

CONNECTION

Shanghai, Jan. 10.

Preparations are being made by the Chinese National Aviation Corporation for the introduction of an air lac from Chengtu, enpl- tal of Szechuen, to Lhasan.

Administration intended to pro- |

Hylton had impressive bowling ceed with its oil production con- figures, taking three wickets for trol programme despite the de-eight rana, while Martindale cision of the Supreme Court of secured three for 39. the United States that such con-

Wyatt's declaration Ве that trol was outside the power vest-point, when England still Ingged ed in the President.

21 runs behind, was obviously an As a sequel to the United States offort to secure cheap vietima Supremo Court's oll control before the close of play. The move decision, placing Government was successful, three wickets fall- restriction of production beyond igy for 33 runs, the law, there has been an alarm-

Smith was in deadly form, and in revival of the transhipment in the course of two overs, cap of-hot-oil-(oil-produced in excess

of quotas assigned to states) from the East Texas field, and without atate tenders, according to the Financial Times.

Lured three wickets without con- ceding a single run.

WORLD CURRENCY PACT EXPECTED

PREDICTION OF U.S. ATTORNEY-GENERAL

DEFENDS ROOSEVELT'S EMERGENCY LAWS

Washington. Jan. 9.

A world agreement on money and currency matters was the forecast of Mr. Homer S. Cummings, Attorney- General in the Roosevelt Cabinet, when he addressed the Supreme Court in the case of Mr. Norman C. Norman, New York millionaire, vs. the Baltimore and Ohio Railway Company, to-day.

Mr. Norman is demanding payment of interest on his railway bonds at the pre-devaluation rate of the dollar.

Mr. Cummings, on behalf of the administration, has been sent by President Roosevelt to fight for the Administration's rights and defend the emergency legislation introduced under the N.R.A., and oppose Mr. Norman's application.

SECOND RAILWAY TRAGEDY

SIX KILLED NEAR MOSCOW

-MANY MORE INJURED

The Attorney-General anked the Court to uphold the law suspend- ing gold paymenta so that the Enited Stated would not

be hindered in any of its conferences with other nations...

He declared the time would come when the United States would confer with other nations with regard to monetary any currency matters, including the fixing. of the value of the currencies of the nations.

Mr. Cummings added that pro- gress towards an international agreement could be soon already, though it was at this distance only n dim shape on the horizon.

Moscow, Jan, 9.

The Attorney-General lald em phasis on the Government's action Six persons were killed and in abrogating the gold payment 23 seriously injured in the tracts. That step was taken, Afr second major railway disaster in Cummings went on, in the face of

clause from the nation's

the past three days.

"the most terrifying industrial and

con.

The sceres to date, as cabled by Moscow express crashed into the world, had ever experienced,

The accident occurred when a financial crisis" America, or the

rear of a stationary train near Rostovondon early

Renter, follow.

The Financial Timea New York

WEST INDIES correspondent reports 75 rall car The new planes, already ordered loads of oil products shipped last from the United States, will

1st innings be night from the thriving Texas placed in this service.

Second innings field, where a tremendous con-Rolfe Grant, c Paine, b Smith

It is learned from the Head-centration of railroad tank care Martindale, .b.w. Smith quarters of the C.N.A.C. that д

.... 102

survey of this line-will be com is waiting for the "black gold" Hylton, not out"

cargo. menced some time next week.-

Achong, b Smith Legitimate operators have de-Christiani, not out clared that they cannot compete Extras with the revived "hot oil" upr ators, and have put their case be- (For 3 wkta) fore the Administration.

ENGLAND-IST, INNINGS

the rise in London silver. How-clung for over an hour to wreek, Cerul Netes. ever, some traders, taking a long-ngo of the vessel before ho term view, considered this rescued by bearish factor ainee It tends to Reuter. emphasise the Incal tightness of

money-United Press.

HEAVY SELLING

Shunghel, January 10.

A

passing ship——

America And

The Foreign Exchange Market World Court

is very firm here this morning.

There is heavy selling of ex chango by Chinese, speculators. and very little buying by BanksUnited Press..

the

MAY JOIN ON CONDITION

(Special to "Telegraph")

Clip Telegraph. Copyright. Telegraphia Man are Ordinance. 1424. Setalved, January,

H. K. DOLLAR RISES With silver prices up both in London and New York, the Hong- kong dollar rose 1/8th this morn ing to 18. 84d. Inter-bank busi- a.m.) ness was done early at is. 9-1710d., o a strady market.

Washington, Jan. 9.

The Foreign Relations Com mittee has approved the projected Silver rose a farthing to 24.9/16 adherence of the United States to spot In London, where America the World Court at The Hague, it and speculators bought. Offerings was announced to-day. were small, and the market was However, the Committee resolu- steady.

tion added the strict provision In New York, allver advanced to that the Court should not act in 4.92%, a rise of 13/8.

any dispute in which the United Statea has any claims or interest." Senator Robinson, Democrat leador and member of the Com- mitto, said the measure would be brought to the Senate as soon as possible.-United Press.

PER CAPITA DEBTS

U.S. BETTER OFF THAN BRITAIN

Washington, Jan. 9.

ex.

WHOLESALE PRICE

INDEX

|

FOG HOLDS UP TRAFFIC

SHIPS & AIR LINERS AFFECTED

London, Jan. 9. Fog caused delay in road and rail traffic in some of London suburbs to-day, and shipping on the Thames was held up, while, owing to poor visibity at Croydon, of the inward-bound alr liners found it necessary to land elsewhere.

some

Two air liners from Paris and one from Berlin landed their passengers- at Biggin Hill

Aerodrome, but the Imperial Air- waya Heracles from Paris, with safely at Croydon according to Bevontoon passengers, arrived

schedule. There was no inter- ference with departures from Croydon.---British Wiroicas,

BANDIT INVASION FROM JEHOL

Ten reinerlca have resumed

b Martindale

operations despite the inter-state R. E. S. Wyall, e Rolfe Grant, railways decision, effective, to- day, not to accept oil for inter-M. Leyland, b Martindale.... state shipment without the tender W. R. Hammond, being approved.

Oficial circles in Washington fear a serious break in crude oil

E. P. Hendren, e Reife Grant,

b Martindale

morning,

Mr. Cummings asked the court yesterday to find that President Roosevelt

The report of this accident comes

had acted justly and wisely.

Koferring to the theory that the

o within few hours of that on the contracts

were inviolable, and

0 Moscow-Leningrad main line when could not be altered except by Act 1723 persons were killed and more of Congress, and even then only 0 than 60 badly injured. In this dubiously, he asserted "written 6 mishap the

were tele-understandings must yield to the caught fire-interests of the public's welfare

-Reuter.

MANAGED GOLD STANDARD

conches

10 scoped and then

Reuter. 03

C Rolfe

Grant, b Hylton

48

3

L.

E. G. Ames, 1.b.w. Rolle

Grant ..

8

0

14

prices to a dollar a barrel, for the major companies and a still lower fall for the Independents.-J. Smith, c Jones, h Hylton Renter.

J. Iddon, not out

Holmes, e Achong, b Hylton

Extras

(For 7 wkts dec.).....

Bowling Analysis

Hauptmann Identified

By Condon Martindale

DRAMATIC. ACCUSATION

POINT FOR DEFENCE?

Flemington, Jan. 9.

Hylton Achong Grunt

Campbell's

Speed Hopes

HOPES TO TRAVEL 300 MILES AN HOUR

Landon, Jan. 9.

Washington, Jan. 9. - Reports that the new Flandin policy is favourable toward In- ternational currency stabilleation cannot be substantiated. Lack- ing such on understanding. fur- ther concessions are likely.

The world outlook is distinctly for a managed gold standard as. opposed to a gold bullion standard and involves a readjustment of the relationship of the Gold Bloc currencies to the pound and the Culbertson and

0. The new "Bluebird" motor ear dollar. SKIN, Zincorporating many new features, Fritz.

in which Sir Malcolm Campbell 81 will attempt to lower his own)

world's speed record at Daytona next month, was on view at Brook. wland race track to-day...

0. M. R.

9 0 34

3

7.3

8

3

6

1 14

0

7

0 18

MANCHURIA MAILS

OPERATING

ON DANGEROUS ground

Washington, Jan, 9.

The U.S. Attorney General, Mr: Homer Cummings, appearing be fore the Supreme Court today to This giant car, weighing four support the defence for the case of and three-quarter tons, is being Mr. Norman S. Norman versus the shipped to Amorica in the Beren Baltimore & Ohio Hallway, argued

garia

on January 10, and Sir that for the Court to uphold the Malcolm Campbell is following invalidity of the gold clause in pri the Aquitania a week Jater.

vate and publie contracts would .un-

Into

Sir Malcolm hopes to make his "plunge the Nation attempt on the record on February paralleled chaos." 19, as a full moon' occurs on that The Attorney General defended date, and the beach and weather the constitutional authority of the conditions should then be at their President and Congress to adopt the CHINESE BUREAUX best. A considerable advance on present monetary policy as the START WORK the present record of 272.108 miles Government's inherent right to Four times during the period

per, hour, sot by Sir. Malcolm preserve itself. LARGE FORCE 'CAUSES that he was on the witness

Tiongls, Jan. 10. Campbell at Daytona on February

He said that af adverse ruling stand, Dr. Condon identified at Kopelkow and Shanhaikwan

The Mail Transmission Bureaux 22, 1933, is anticipated.

in this case would increase the CHIHSIEN FEAR

Nation's public and private debt by Bruno Hauptmana as the man were working at top speed this construction of the car prophesy

Engineers associated with the $69,000,000,000.-United Press. RISE REPORTED AT

to whom he paid the Lindburgh morning on the resumption of the 300 miles per hour-British Wire- Tienein, Jan. 10. Districts along the inside of the baby ransom money, $50,000 in postal service to Manchuria.

LONDON RUMOURS HOME

Great Wall are again menaced by marked bills.

These two bureaux have begun London, Jan. 9. a large group of armed bandite

Dr. Condon, intermediary for accepting mails addressed to Man- call attention to the fact that the The average of wholesale prices from the Jehol territory.

Colonel. Lindborgh in treating churia and those addressed to. public debt of the United States, last year was greater by 3.2 per

Some of them have appeared at with the kidnappers, was the first Europe vin Siberia, and at the

GOLD EXPORT TAX including federal, state, city and cent. than in the 1933 Index num- two passes and threaten to invade witness called by the State to-day same time are receiving Inbound county obligations amounts to hers, boine 87.2 and 84.5 respec- Chihsita, to which area, the Chin in the trial of the man charged mails from Manchuria.... a total of $48,100:00.000, or $386 tively-1930 equalling 100. ese authorities have asked the with kidnapping and murdering

Havana, Jan. 9. per capita of population.

The rise in 1934 followed de- Provincial Government to dee the Lindbergh child in 1982. parcels and money remittances to decree lifting the ban on gold The same bureaux will transmit The Cabinet to-day issued Gront-Britain's---public debt clines of 0.7 per cent. In 1988, patch heavy police guards

to For two and three-quarter amounts to $991 per capita. 2.4 per cent. in 1932 and 12.8 per chock their United Press.

invasion. Central' hours De: Condon' was the and from Manchuris three weeks ports and substituting a 15 per cent, in 1981.—Brilish Wireless, News.

(Continued on Page ?.).

cent, tax--United Press.

In connection with fears prossed since the budget speech that the Roosevelt Administration is increasing the public debt in

a dangerous degree, officinis here

Ł

from now.-Central News.

LeRR.

London, Jan. 9. In an unofficial report which reached financial circles hore to day, It was stated that the Fremier of France, M. Flandin, and the. Foreign Minister, M. Laval are visiting London at the end of Janu

It is said that the object of their aary.

visit is to discuss the question of

(Continued on Page 7).