1935-01-28 — Page 1

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The

FIRST EDITION

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Hongkong Telegraph

No. 34502

FOUNDED 1881. 一拜禮,號八廿月正英港香 MONDAY,

JANUARY 28, 1935.

BANON COPY 10 CIENTY

FIERCE STORMS OVER EUROPE

SEAMEN'S FAREWELL TO “OLD ENGLAND”

LOST ON ICELAND COAST: GENJA REACHES PORT

(By Telegraph. Copyright, Telegraphis Messages Ordinance, 1894. Received Jan. 28, 9.30 0.m.)

London, Jan. 27.

A large part of Europe and the whole of North America are still in the grip of exceptionally severe winter weather, to which heavy snow falls, fierce, icy gales and floods are contributory features.

Snow again fell heavily in many districts of Britain last night and the wind velocity in some places reached 80 miles per hour.

In the terrible storms which are sweeping Britain, savaral berole rescues by coastguards are reported. Pictura shows the recent launching of a lifeboat on the Eagilah count by means of a modified tank,

Immense snow drifts have isolated many farm- U.S.

steads in Lincolnshire,

The most unpleasant feature of this season is the storms along the coast High winds and snow flurries which left mariners blinded in a tumble of water, sent most of the coastal craft hurrying for shelter.

But many trawlers have been driven ashore and their crews only rescued in the nick of time,

TRACIC DISCOVERY

There have been tragedies, too. The wreckage of the Grimsby traw- ler Jeria, whose crew sent a mes- sage of farewell by radio to "Old England" during Wednesday's gale, has been found on a gaunt strelch of the Iceland coast. The wreckage told its own pitiful tale.

The same const nearly claimed an- other victhhh the trawler. Night" Hawk, which has been found drift- and ing helplessly, her bridge funnel swept away and her mate Kone overboard.

LIMPS INTO PORT

The Latvinn steamer Genja. which was swept out to sea when attempting to enter Blyth harbour on January 26 (Saturday) with two Blyth pilots aboard. after having been missing for thirty-hours. - struggled into full to-day.

The storms extended as far south as Spain. The whole of France was swept by snowstorms and the tem- pests last night did serious damage to the fishing ports..

FARIS "SNOWED UNDER"

Paris, Rouen and Lille are deep

MEXICO WOOING SOVIET

RECOGNITION POSSIBLE

COMMON OBJECTS

(Special to "TelegraphTM)

Financial Outlook

FORECAST OF NEW LEGISLATION

MORE LOANS IN INDUSTRY

Washington, Jan, 22.

The following is the forecast of events in the American economic sphere:

company

legislation

ABANDON HOPE FOR MISSING

SEARCH ALONG- WILD COAST

TERRIBLE WEATHER

New York, Jan. 27.

The search for the ten miss-

Controlling Utilities

RECOMMENDATIONS TO U.S. SENATE

LEGISLATION SOUGHT

(Special to "Talegraph”)

Washington, Jan. 26. The Federal Trade Com- ing persons from the Wardmission, culminating a six year Holding will be enacted; probably against Line steamer Mohawk, which investigation of gas and electric all businesses including utilities, Bank following a collision with utility companies, has prepared and possibly

investment the s.s. Talisman off the New & programme to correct the trusts.

Jersey coast on Thursday night alleged evils of operation of

before the Senate.- has been abandoned. They have such firms, which will be paid been given up as dead,

The

Rome

Federal incorporation for Inter state business will make progress but will not be enacted,

The loss of lives in this disaster

programme which has

A $1,800,000.000 Public Works is now officially stated to have boen formulated to curtail the bill will enacted with President reached the total of 46, including powers of holding companies, con- By Triagmph. Copyright. Telegraphic Mas Roosevelt having full discretion. the ten missing. Altogether 117 alts of the following recommen-

Old age pensions and unemploy persons were rescued. ment revision.

ages Ordinance, 119). Fiscsired. JemkaTY ti, in a.m./

dations!

Firstly, heavy Federal taxation of holding companies and all the profits thereof;

$16.00 FER ANNUM

DUNLOP

Fort

is unequalled by any other Tyre in the world

FIGHTING FOR

SILVER

U.S. GROUP PRESSES FOR PURCHASES

FULL REMONETISATION ULTIMATE GOAL

(SPECIAL TO “TELEGRAPH")......

Washington, Jan. 27.

A committee from the Silver Group in Congress, presided over by Representative John A. Martin of Colorado, and including Representatives J. W. Robinson of Utah, J. P. Monaghan of Montana, Greever of Wyoming; Dempsey of New Mexico, Mrs. Greenway of Arizona, C. I. White of Idaho, Walter Pierce of Oregon and James Scrugham of Nevada, has been scheduled to meet this week.

the upon The purpose of the committee is to decide programme to be presented to Congress, embracing what they consider to be the best means of expediting the Treasury's Silver Purchasing Programme..

Representative Abe Murdock of Utah, Chairman of an informal organisation of Western Congressmen, interviewed by the United Press to-day, said: "We feel that the present law, if properly administered, would go a long way towards helping the silver situa- tion; but silver must be completely remonetised before the desired results can be obtained."

Mr. Murdock also said the situa- tion would be helped if the Treasury made real offorts to acquire a silver reserve within a

AMERICAN

INVESTOR reasonable time.

STILL SHY

MONEY IN BANKS: NOT STOCK

"GOLD CLAUSE" DOUBTS

(Special to "Telegraph")

New York. Jan. 26.

món до

Ho added: "All the silver in the House agree, that under conditions should they allow the issue to remain silent, but should do all that is possible to obtain hearings that will keep the issue alive.

"If legislation cannot .bo executed this session, we may at least try to force Mr. Morgenthau, Seerotary of the Treasury, to ac quira a ellver reserve as carly as possiblo."-United Press,

Although the uncertain out- Fluctuation In

Mexico City, Jan. 27.

It is known that the master of A new R.F.C. Bill will pass with- Pointing out the common anti-in the week, which includes a more the vessel, and five others of his

Secondly, direct statutory pro- clerical policies of Mexico and liberal policy on direct loans for crew, went down with the ship.

Industry and broad powers for Coastguardameri and others hibition of alleged utility opera- Russia, observers here are railroad loans possibly allowing engaged in the search for the tention by holding companes; speculating 19 to

Thirdly, compulsory Federal whether the purchase of depreciated rail persons of the Mohawk still un-

road bonds by the railroads in accounted for, abandoned their licensing of utility, holding com- come of the "gold chhuse" case is Mexico is not preparing to re-order to save interest,

quest because it was recognised panies; sume friendly diplomatic rela-

Fourthly, the enactment of a the chief reason for the present. Unified Government regulution that no-one could have survived tions with Russia and, as of all commerce commissions is the bitter cold on the New Jersey Federal Permissive Incorporation lethargy on the Stock Market, it

likely. Electrical equipment. coast prevalling since the Mohawk Act.-United Press. first step towards this end,

plumbing and air conditioning sank. companies will benefit by R.F.C. recognising the Red Republics.

loans..

in snow. The capital's entire "snow defence force of 4.000 men, has been called out to clear away the

Attention has been drawn to fall of the past several hours which the articles appearing recently has almost completely tied up traffic in a Government newspaper. El throughout the city..

Nacional, In connection with the Rome and Naples have also had anniversary of the death of the hero

of the Sovlet, M. Lenin. snowfalla-Router Special.

-

WORLD COURT” RECRUIT?

These articles are believed to be part of an officially inspired effort to sound public opinion on the r cognition of the Soviet.-United

Press,

.

U.S. CONGRESS TO Soong Staying

VOTE ON MEASURE.

(Special to "Telograph")

In China

the Telegraph, Coveright. Telegraphic Me POSSIBLE TALKS ON par Ordinance, 2015, Received, January

Si, P.03 AM)

Washington, Jan, 27,

A vote in Congress la expected

SILVER PROBLEM

Shanghai, Jan. 26.

on Tuesday on the Administra- Interviewed by the Clineso tion's mensure providing the machinery for the entry of the Press here to-day Mr. T. V. Soong. United States into the. World former Finance Minister, stated Court, at the Hague.

that he has no intention of leaving! Chino.

In spite of considerable opposi tion, it is expected that the He said that the Ministry of Democrat lendors of. Senate and Finance had considered sending House will have sufficent support someone to the United States to to obtain, the necessary two-thirds discuss the silver problem, but majority on the division.United he was unable to say what decision Press...

had been reached. nga

Mr. Soong said, that he had no

The Supreme Court decision on the Gold Clause Case will probably come on February 1,

It is believed that the Economic Security B, which as written. would incrente the Federal debt by fifty per cent,, will be revised. Important changes in the banking! laws are likely. A compulsory consolidation of the railroads is

forecast.

The Communications Com- mission's report auggests the regulation of telegraph companies. No final action on telephone com: panies is contemplated until after a comprehensive valuation study. A BB will be introduced with President Roosevelt's support ex- tending the Bankhead Cotton Control Act for another year. Thể prosent N.I.I.A. is likely to be extended.-Swan, Culbertson ami

Fritz.

S'HAI MARKET REPORT

FOREIGN EXCHANGE VERY FIRM

Even if some of the missing had reached shore through the surf, which is most unlikely, they must have perished long before now un- less succour had been it hand- Reuter.

REVOLT IN LOUISIANA

SQUARE DELEARS

ORGANISE

RISE AGAINST SENATOR LONG

Baton Rouge, Jan. 27.

MR. JAY GOULD

PASSES

was pointed out here to-day that taxes, monetary problems and other impending legislation are additional sources of worry for investors.

Currency

NANKING WARNING TO NANKOW

Nanking, Jan. 27, With. reference to the Hankow Chamber of Commerce's petition to

During 1934 the deposits in all the Government for relief in the ONE-TIME ROYAL ·

situation created by the recent de- commercial banks was

approx-preciation of Shanghat banknotes, TENNIS CHAMPION

imately $40,000,000,000, which was the Ministry of Finance to-day sent New York, Jan. 27.

$7,000,000,000 increase on the a message to the Hupch provincial

authorities. Mr. Jay Gould, millionaire

and sportsman, son of the famous fin- previous years' deposits, ancler of the same nume, died to which compares very evenly with

day.

$1

renched

The message stated that the fluc tuntions in currency values were and warns the authorities against entirely due to commercial factors, $47,000,000,000 the unauthorised Issuance of bank-

despite note in Hankow.-United Press.

Mr. Gould was best known for the period 1928-1930, wherein de his game at Royal or court tennis, posits not so popular now as It was some

from $10,500,000,000, years ago when the late King which however, Stock values fall- Edward VII was a keen player..

Mr. Gould was world champion in ed to keep pace.

1907-08, losing his title to Mr. E.

On September 1, 1929, the total H. Miles in. England, who, an earlier champlon, had defeated Sir 6tocks listed had a market 'valua- Edward Grey for the title in 1898. tion of $89,668,270,801. Additional troops have been! The late Mr. Gould was active in moved into this city where the Wall Street at one time-Reuter. situation has grown extremely

tense following the uprising against the "autoorstic administr-DAY OF MOURNING tion of Senator H. (Kingfish) Long.

IN SHANGHAI

At the end of 1934 the total valuation was $33,983,882,614,

IMPROVING CHINA'S

INCOME

MORE MONEY FROM SALT. FIELD

Nanking, Jan. 28.

The tremendous bank deposits during 1934, howevor, failed to. It is officially announced that as stimulate a demand for invest- a result of the improvement of the ment securities, a fact due purely Chiness gabello system, revenue to hesitancy on the part of busi-derived from this source last your neasmen to speculate or invest in showed a great increase.

For instance, salt revenue In the slucks United Press.

Changlo Division alone was creased by well over $3,000,000.

The Chinese Gabella Administra-

INFLATION NOT EXPECTED

·in-

All State buildings are heavily guarded and patrols are constantly HONOURING DEAD OF parading the streets.

The Leader of the Insur-19TH ROUTE ARMY rectionists," who is, called the

Shanghai, Jan. 28. President of the Square Dealers' On the ocension of the third

New York, Jan, 20.. Association, is reported to have

Anniversary of the "Shanghai

The decline of stocks mostion is taking, stops toward improv (Special to "Telegraph")"

disappeared. Reuter.

the famous 10th War," in which

directly influenced by laflationarying the salt folds and by The Square Dealers armed them Route Army made its name the antiment on Wall Street, is in- means bopes to for Shanghai Jan. 28.

production. Central A little book which should be of domment whatever to make on the The Foreign Exchange Market selves with shotguns and gathered Chinese citizens of Shanghat aro terpreted as reflecting the provali- evening, threatening holding a service this morning in ing doubts In the Stock Market considerable use to traders and ship local financial eltuation.United is very firm here at 10 am, this Saturday,

violence unless Senator Long, and memory of the fallon..

that Congresa, intends to make! para trading with China has just been proan.

morning..

A large number of people will Prepared by Mr. Ip Kwai-wa, former

The firmness le apparently due his political honchmen, would

immediate fatüre United Pri solely to the continued tightness agree to their demands for reform gather before the Unknown War any move toward inflation in the

It was later announced that they rlors' Tomb at Miaohangchen

During the day all entertainment Forward rates are not material-had dispersed when they were

Attractive Chinese talenanamk hand from the Central: ly changed from the close of bual-promised a hearing. Since then and games will be suspended.

Central News. ness on Saturday-United Press, martial law has been declared.

chief clerk in the Hongkong Swor

· Moasurer's Office. It contains tables |

The Hongkong Telegraph has re

ef conversion regarding weights and calved a sum of 5 from Mr. LE. N. of cash.. cubic measurements, brought down to Ryan for the longkong Benevolent four decimal places. The book is on Society, in memory of the late Bir. čanjb at Brewer's Book Shop at $8. J. D. Lloyd.