1935-01-25 — Page 19

M

Mussolini Shuffles

His Cabinet

PROMOTES YOUNG

FASCISTS

NEW TIMBER SELECTED

(Spacial to "Telegraph")

(AE Telegraph, Copyright. Tulegraphia, klèm. sage Ordinonen, 1894, Deceived, January

Rome, Jan. 24. Premier Benito Mussolini has effected another of his periodic Cabinet re-shuffics.

To-day he replaced all mem- bers of the Cabinet and all under-secretaries, except him-

self..

Signor Paolo de Ravel, Mayor of Turin, has been appointed Finance Minister, succeeding Signor Guido Jung.

Count Cebara De Vecchi, Am- bassador to the Holy Sea, kas been appointed Minister of Educa tion, succeeding Signor Francesco Ercele.

Signor Guiseppe Bottal, former Minister of Guilds, has been up- pointed Governor of Rome, succeeding Prince Boncompagnl. Ludovial, who has been appointed Minister of State.

with

The reorganisation is regarded moroly as the usual periodical shake-up in accordance Signor Mussolini's principle of giving the Fasciat Party leaders experience in Government affairs. It is noteworthy that preference was given to Labourites in this instance, all comparatively youne men promoted from the Fasciat ranks.-United Press.

HEAVY TOLL OF FLOODS

GREAT

LOSS OF LIFE IN U.S.

(Special to "Telegraph”)

New York, Jan. 24. Nation-wide blizzards and floods have now raised the total of deaths through misadventure in the past three days to 75,

When the Coldwater River flooded Clarksdale, Missouri, and marooned 4,000 persons, Afteen were killed.

In New York itself, where a foot of snow tell yesterday, seven died as a result of exposure.

In other parts of the country there were scattered tragedies. Philadelphia, for instance, reported seven deaths in a fifteen-inch snow- fallUnited Fres

Later.

It is now stated that the river floods in Mississippi killed eight parsons in that state yesterday and three in Tennessee and two in

Arkansas.

THE HONGKONG TELEGRAPH. FRIDAY, JANUARY 25,

DANGER OF BANK MONOPOLY

BRITISH FINANCIAL

BRITISH

EXPERT'S VIEW

ADVANTAGES IN CHEAP

-

MONEY POLICY

London, Jan. 24.

The scheme for the nationalisation of British banks was the subject of a vigorous attack by Mr. Reginald McKenna, M.P., Chairman. of the Midland Bank, Ltd., since 1919, and former Chancellor of the Exchequer, speaking at a general meeting of that com- pany to-day.

After pointing out the dangers of a monopolistic system and the benefits to be derived from the present banking organisation, Mr. McKenna praised the Government's policy of cheap money, which if continued he felt would lead to further. internal recovery.

BULLISH PARIS MARKET

GOLD PRICE SPECULATION

FRANCE FEARS DEVALUATION;

Paris, Jan. 24.

To-day's rise in the premium of forward dollars and sterling was a result of bull speculation In anticipation of an adverse decision of the United States Supreme Court against the Washington

Administration's

"gold clause" abrogation.

After Friday, no more steamers York from will arrive in New

Conse- Europe until February 4. quently gold shipments have already been suspended.

The development of a bull poal- a tightening of tton is causing money markets, which has been ac centuated by the reluctance of holders of franes to lend. owing to fears of devaluation. This ner- vousness has been increased be un- easy anticipation of M. Paul Rey- Chamber of Deputles to-morrow,

The tighter money conditions are

ernment which has hinted that it is not over-concerned with the situa- tion, implying that measures will be taken to relieve the money market by overcoming the opposi tion of the banks who are reported to have abstained from helping the nuthorities thus far because of their objection to the Government's cheap money policy.

RADIO BROADCAST

Relay of Speech From Burns' Dinner

A COLUMBIA CONCERT From ZBW on a wavelength of 155. meres (846 kilocycles):

4-7 p.m. Chinese Programme, 7.11 p.m. European Programme. 7 p.m. Closing Local Stock Quota- tions.

3-1.28 p.m. Light Opera. Selection--The Damask Rose

(Cluteam).

acal Gems-The Duchess of Dantzig

(Caryll)

Selection--The Maid of the Mountains

tr raser-Sinion)

7.28-7.40 p.m. Hawaiian Music. My South Sea Sweetheart Blue Sparks Underneath the Blue Hawaiian Skles Sweet Hawaiian Dream Girl

7.40-9 p.m. A Columbia Concert. Orchestra-Concerto for Orchestra in

D (With Organ) (Handel)

Hamilton Harty conducting the London Symphony Orchestra. (Harold Dawber at the Orgün), Orchestral-Le Prophete-Caronailon

March (Meyerbeer)

viewed with disfavour by the Gov-Quartet Salut D'Amour. (Elgar, arr.

Mr. McKenna admitted that progressive home recovery inevitably entails larger imports, which, how-naud's devaluation speech in the ever, would facilitate the interest payments on overseas investments. Therefore, in the aggregate the balance of payments would be substantially unchanged. The only way one could expect the yield from overseas invest- ments to recover would be by freer, purchases of primary pro- ducts by the debtor countries

Sterling prices had remained stable while the price of gold had fallen, auid Mr. McKenna, which MR. was a striking benefit result from Great Britain's abandonment of the gold standard. Under the old system the decline of sterling would have necessitated deflation- ary measures at a time like thia.i with depressing effects on trade-i

Now, however, deflation was un- necessary.

and

"ECONOMIC DEMOCRACY"

WALLACE'S PLAN

OUTLINED

WIDESPREAD INTEREST

(Special to "Telegraph")

Paris is quoting "daily money" at five per cent.: one month terma at four-and-a-quarter; and three month terms at three-and-a-quarter.

Reuter,

A

GOLD WITHDRAWALS

Paris, Jan. 24. statement by the Bank of France to-day shows that there have been exceptionally heavy withdrawals of gold. during the past week.

The exact amount of gold with drawals in the last week, as shown by the statenient of the Bank of France, was 78,718,390 france.

"For myself, I do not believe the limits of Internal business ro- covery have been reached while a

Now York, Jan, 24. large supply of efficient labour re mains unused

large 13

Writing in Collier's Weekly, the of Agriculture, Mr. aggregate of elementary wants, re- Secretary main unsatisfied," he said in con- Henry C. Wallace, to-day proposed clusion.--Reuter.

to supplant the New Deal with a

The Franc-Dollar rate opened at new order of "economie democracy."

Tho

proposed by Mr. 15.24 here to-day and reached 15.28 plan Wallace includes the establishment, half an hour before the closing.

The gold withdrawals are of an "economic supreme court" to! be known as the National Economic attributed to the rapid rise of the

dollar above the gold export point., Council.

United PresR.

OPPOSE MORATORIUM

Shanghai, Jan, 25. The Shanghai Chinese General The National Economic Council, Chamber of Comm:ree has passed as suggested in the Cabinet Mem- a resolution disapproving a Bug-ber's article, would consist of four cuch to represent Kestion made by the United Asso- members, onc

ciation of Stre: Untons of Shang- Industry, Labour, Agriculture and hat that the Gen-rul-Selilement the Consumer. One of the Council's Day be postponed for 0 year duties would be to canvass the sent and that the payment of house Liment of the country on such key six questions of policy as the War rinta be suspended for months, as an emergency measure debts, the gold standard, and others, The article is attracting wide in the economic crisis, Central

pend interest-United Press.

News.

DAY BY DAY NEWS IN BRIEF WE BECOME WILLING SERVANTS TO We learn that fresh Java fruit ar THE GOOD BY THE BONDS THEIR VIR- rived yesterday from Batavia by the TUES LAY UPON US.Sir Philip Sid-s. Swartenhorn in good condition,

It is expected that deaths wey. throughout the nation, due to coldį

and. Is obtainable local stores.

waves, floods and storms, will now | coive, $5 from Mr. and Mrs. John morning,

total 90,-United Press,

HUGE U.S. RELIEF

HOUSE APPROVES

MONEY BILL -

Fire which broke out at 2.35 this The Hongkong Telegraph has re-

conpletely destroyed 12 Fleming for the Hongkong Benevolent building used for the manufacture of Society, in memory of the late Mr.o-sticks at Salwanko (Shaukiwan). Particulara regarding Insurance, if J. D. Lloyd.

any, are unknown. No-one was in- jured.

It

Two months' hard labour was the

Banished for live, Wong Tsin-ming, 28, was sentenced to twelve months' hare labour by Mr. Wynne-Jones in sentence passed on Cheung Fook, by the Central Police Court this morning Mr. E. W. Hamilton at the Kowloon for returning ftom banishment. was stated that the defendant served Magistracy this morning, when he a five years term in 1920. Defendant appeared on a charge of stealing a stated that he was decoyed to the bicycle from the To Sau Girls' School on Wednesday. Colony by a friend and was arrested in Argyle Street,

The complainant was Lau Chi-keung. a school-master.

by the police. *.

HOLLAND DISTURBED

Amsterdam, Jan. 24. The abrupt rise of the dollar above the gold_export_point_haw caused considerable unrest on the Foreign Exchange Market here.

The banks here are now not ship- States dollars on ning United account of the continued uncer- Ininty regarding the outcome of the gold clause case.-United Press,

SHIPMENTS TO ENGLAND

Plymouth, Jan. 24.

It was reported that £595.000 worth of gold arrived here to-day from Australia and India.-United

Prex.

S'HAI MARKET REPORT

FORWARD RATES EASING

(Special to "Telegraph”)

Shanghai, Jan. 25. Trading was dull in the Foreign Exchange Market here up to 9.45

The annual service of the Hongkong.m.

Bournemouth Municipal Orchestra conducted by Sir Dan Godfrey, Violin Solun Grinzing (Denatzky) Violin Solna-Remembrance (Mela)

Albert Sandler. Orchestra-Nicolette (Van Phillips)

Van Phillips All Star Orchestra. Phillips)...Van Phillips Quartet. pianoforte Solos-Etude in A Minor (Chopin, Op. 25, (Winter Wind) No. 11). Songs-In Praise of Ale Cedric'

Sharpe) Sungs-Gentlemen, Good-Night

(Longatar)

Malcolm McEachern (Bass). Songs-Thorn (Adams)

Roxen Songs-Beautiful Garden of

(Schmid)

Charles Kuliman (Tenor). Vocal-Scenes from "My Old Dutch" Betty Balfour as "L" Michael logan an "Bert" and Company. Song-Rollin' Home (1)

Vocal

Turner Layton (Tenor). Duct--Moon Glow {from "Blackbirds of 1934")

Laylor and Johnstone. Humorous-The Council Schools are

good enough for me. Humorous-When I get my Rag out.

Norman Long. Plano Solos-Streamline The First

Waltz. Plans Solos-Streamilno-Selection.

Vivian Ellis.

Sho Loves Me Not").. Organ Solo-Love in Bloom

Sidney Torch. 9-945 pm. From the Studio. A 31st Recital of Gramophone Re- cords by The Rev. C. B. R. Sargent,

950-10.15 p.m.

9.45 p.m. Reuter Press Bulletins, London 1 p.m. Stock and Commodity Quotations.

Band Music. Softly Awakes my Heart ("Sainson

and Delilah") (Saint-Saens). The Black Domino-Overture

(Arr. Winterbottom), Slavonic Rhapsody

(arr. Winterbottom). Kirkby Maizeard Sword Dance Folk Dance (arr. C. Sharpe). The Flamborough Sword Dance- Folk Danca (arr. C. Sharpu). i 10.15-10.35 p.m. (Approx:). A Relay from the Hongkong Hotel Roof Gar den of the Burns' Dinner Speech "The Immortal Memory" by His Honour, Mr. A. D. A. MacGregor, Chiet Justica.

10.03 p.m. Router Press Bulletins, Rugby Mid-day Press News. Further London Stock and Commodity Que- tations.

10.40-11 p.m. Dance Music. 11 p.m. Clone Down.

PLANS FOR FUTURE INDIA GOVERNMENT

(Continued from Page:1.)

bim. This course is open to the Governor General or Governor, firatly, whenever certain special responsibilities enumerated are, in his opinion, involved, and, second- ly, whenever any of the powers conferred upon him to act speel- fically require him exercise his Individual judgment,

Washington, Jan, 24.

By kind permission of the manage- The House of Representatives, by 328 to 78 voter, passed the ant of the Gloucester Building the

St. John Ambulance Brigade exhibi- University Christian Association for Rates for cash were steady bat

Whenever the Governor General Administration's $4,880,000,000 re-tion of paintings will be held in the the presentation of Bibles to the 1934 forward rates were casing, due to ller Bill to-day..

small tea lounge, top floor, on Mon University graduates will be held on the efforts of various Chinese banks or Governor is "acting in his dis- During the debate the Adminia-day, Tuesday and Wednesday next. Sunday next January 27, at 0.30 a.m. to buy U. S. Dollars forward. The cretion" or "exercising his in- tration leaders functioned perfect. The hours of admission are 3 p.m. to at St. Stephen's Church, Pokfulum ly and defeated numerous amend-6 pm. No charge will be made, but Read. A sermon will also be preached market turned weak about 10.15 dividual judgment," he is subject ments designed to curb the dele-a collecting, box will be placed for by Rev. Lawrence Russell. All mem-a.m. as the result of sudden develop-to the superintendence of the gation of power, including, the $60 those who care to help the activities bers and friends are cordially invited ment of a demand for foreign ex- Secretary of State... average monthly wage that 3.500,- of the Brigade. 000 unemployed will receive. The Bill has been sent to the Senate. Reuter.

TRAMWAY CO.

DIVIDEND

FINAL OF 75 CENTS RECOMMENDED

to attend,

change, especially forward.

Full directions will be given to There were virtually no sellers of

and exchange, now that the Sassoon the Governor. General Interests have stopped selling. Governors, by the instrument of It is reported in the market! Instructions regulating the use of that the Hongkong and Shanghal these powers, to be issued with Bank has been buying exchange in the approval of Parliament by the substantial amounts.

Crown. British Wireless.

A caution суда The next meeting of the Hongkong

administered to Branch of the English Association Lleut Garnett this morning by Mr. which is to be addressed by Rev. E. W. Hamliton, at the Kowloon Harry Haines of the Cathedral, hissingistracy, when he appeared in on Kubject being "Tho Rescue of swer to a summons for committing a English," has had to be postponed. trafic offence. Mr. W. La B. Spor The date originally fixed was Tuesday, row, A.S.P Kowloon, alleged that the February 6. but as this is a public defendant was driving car No. 1786 holiday in Hongkong the meetthon January 1 at 6.50 p.m., and failed heen transferred to the first available to go round the land rem Jordan the Foreign Exchange Market here The First Thing To Do Tuesday thereafter February 19. ed into Nathan Road from The time of meeting in as usual, 5.30 Road.

.m., and the place the Iona' May! Institute.

An Interesting, wedding ceremony

LATER Rates wore a abade stendieron

nt 12.15 p.m.

Sassoon's interests selling of

cleansing of the intestinal tract.

For A Cold. Lai Chung-lol, aged 28, "boy" sterling was the steadying in- Whilst the cause of the "common" employed by a missionary, appeared fluence,

d cold still remains to be discovered. boforo Bir. E. W. Hamilton at the Rates are inclined to be steadier despite centuries of medical research, At the forthcoming annual

took place yesterday at the Supreme Kowloon Magistracy this morning, this afternoon, although, trading on it in a generally agreed fact that the general meeting of the Company, Court Registry between Mise Mar- charred thealing clock the foreign exihence market is arst thing to do for a cold is to have Khortly to be announced, theret Trang, formerly of Sydney. from the lesion at 128 Woonnng Directors of Hongkong Tramways, Australia, and now residing at No. 6 Street, first floor; on November 12. extremely dull-United Press, Limited, after making full pro Perfection Terrac", Causeway Bay Detective-Sergeant Dowman stated viaion for depreciation, items and Mr. Chung Tin-ting of No. 62 that the clock was reported missing, writion-off, Government royalty B Robinson Road. The briderroom and when the defendant was ques

It has been reported here thle and all other charges and, further, Cha wall, a prominent, merchant ex to be repaired, but it was never morning that unofficial trading has is the son of the leto Mr. Chun tioned he sold that it had been taken transferring the additional sum Banhain Strand East, and is at pre- brought back again, Miss M.B. of $103,000 to General Reserve Acant with the China Emporium. Ltd. Falley was the complainant. The been done on the Gold Bar Ex count, will recommend, a final The handy couple left the same night defendant who had one previous con- change at 8059.00, which is looked dividend of 75 cents per share, for Canton where the hike wedding viction for larceny four-years ago, upon as an indication that little making a total dividend of $1.25 ceremony will be observed at the was sentenced to three months' hard change in quotation is anticipated.

United Press. for the year 1984.

bridegroom's residence in Honam.labour.

LITTLE CHANGE EXPECTED

Shanghai, Jan. 25.

For this purpose Pinkettes are per: fection Gently laxative, and at tho same time stimulating to the liver Pinkettes quickly dispel constipation,. assist digestion, relieve headache and with colds. They are also ideal for the that feeling of congestion associated prompt correction of billiousnes tulence, foul braith, and to teller piles. You can purchase Pinkettals,

chemlatarey

SLIPPERS

EASY TO SLIP ON EASY TO SLIP OFF and what

Is still more importarit, ́easy in wear.

Soft pliable Grecian style (as illustrated) in large range of plain colour and fancy fronts.. More solid models in tan and black goat skin or glace kidslippers that will last for years and become more comfortable -If possible-with each wearing.

Prices range from $9.50 Less 10% Cash Discount.

MACKINTOSH'S LTD.

Men's Wear Specialists.

GREAT

REMOVAL SALE

IN

ALL FURNISHING DEPARTMENTS

SPECIAL BARGAINS

IN

FURNITURE SUITES

AND FABRICS

SALE COMMENCES MONDAY, JANUARY 28th.

ARTS & CRAFTS

4A, DES VOEUX ROAD; -:

BIG CAR COMFORT and SILENT are NEW SIX PERFORMANCE to the low price field.

and CHEVROLET

brought them there.

a car, be sure that No matter how little you spend for you get your money's worth. That's why we urge you to sep and drive the new Chevrolet Economy Six before you buy any low price car,

Call for demonstration at the

FAR EAST MOTORS

FRACO

26, Nathan Road, Kowloon, Telephone 59101.

THE HONGKONG TYRE CO

Retread Tyres Scientifically Latest FULL CIRCLE