1935-01-31 — Page 13

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Hongkong Telegraph.

FOUNDED_1981, EN MEALS THURSDAY, JANUARY

-No-14505

CHINA INFLATION

POSSIBLE

JAPAN TO LEND AID IN CRISIS?

U.S. CLOSELY WATCHING DEVELOPMENTS

The United States is interested in the suggestion that Japan may be about to take advantage of China's embarrassed financial position to obtain a general politi- cal reconciliation with Nanking.

It is hinted that Japan may come to the aid of the Chinese Government with an offer of loans, and thereby obtain for herself concessions which might be in viola- tion of the Nine-Power Pact, the International Con- sortium and the Open-Door Policy promises.

Meanwhile, in Nanking, a conference has been hurriedly summoned, to which leaders of Chinese financial enterprises and government advisers are believed to have been called, to discuss with General Chiang Kai-shek plans for the revision of the entire monetary system. Although the utmost secrecy has been preserved, it is suggested in some quarters that China is contemplating devaluation of her currency,

U.S. WATCHING

A

Washington, Jan. 30. The reports received here to-day regarding the Chinese monetary crisis, in which it is rumoured that devaluation of the dollar is im- pending, and also that Japan will Aupply gold, has provoked specula- tion here that Japan is utilising the

obtain Chinese situation to

political reconciliation. general

It is said that such reconcilia- tion would be based on loans or credits for Chinese exports, upaa which China would be required to. pay within no definitely stated period, thereby alleviating China's unfavourable trade balance and the resultant drain of silver,

Government officials declined to make any comment on the subject but indicated that they were in terested in such possiblities.

EPIDEMIC RAVAGES CEYLON

MALARIA PLAGUE

UNABATED

RAINY SEASON NEARS

Colombo, Jan. 31. Seven thousand are reported to have died of malaria in the Kegalle district alone during the. They were particularly interest- epidemic which has ravaged the ed in the possibility of whether island for the past two months.

Persons, on the spot claim that move would involve a such a political understanding in violathe epidemic is unabated and the tion of the Nine Power Treaty or situation is as grave

as ever.

the International Consortium agree-Villagers are losing faith in quinine ment, and also whether trade and are less inclined to attend the being continually preferences would violate the open dispensaries.

reinfected by mosquitoes. door trade polley.-United Press,

SECRET PARLEY

(Special to "Telegraph")

Shanghai, Jan. 31.

It is learned here to-day that a conference is proceeding at Nanking, which, rellable ob- servers assert, will revolutionise China's monetary and financial systems."

advisors tes the Prominent Ministry of Finance hurriedly departed for Nanking Inst night, in response to a sudden summons from General Chiang Kai-shok with whom they were in confer-j ence all day yesterday.

Absolutely no inkling can be obtained as to the exact nature of the proposed action to be taken, but it has been persistently re- ported in wall Informed Shanghai circlee,, that a drastic devaluation of the Chinose standard dollar is possible, as the only solution to tho

crisle. présent currency United Pres.

REVOLT IN URUGUAY

TROOPS RUSH TO BORDER

(Special to "Telegraph")

It is feared the mosquitoes will increase when the rains coine and that the plight of the lalandera will be even more tragic-Reuter,

Governor

Sir

Leaving

In May

SUCCESSOR NOT YET NAMED

SIR ANDREW CALDECOTT? ·

His Excellency the Governor, William Peel, K.C.M.G., K.B.E., is to go on leave, prior to retirement, on May 18. Actually, His Excellency's leave will expire early in December.

DUCHESS SEEKING DAMAGES

DEFENDS HER GOOD NAME

ALLEGED LIBEL: IN "HOOEY"

(Special to "Telegraph")

(Bly Telegraph, Compright. Telegraphlo Mas- wo Ordinance. 11. Recalved, JanuALITÉ #1. 10.1 m.)

London, Jan. 80. What is described as a scurril- ous lampoon on Gladys Duchess of Marlborough, step-mother of the present Duke, formed the basis of a ifbel action in King's Bench Division before Lord Justice Hewart to-day.

Jim Mollison, the noted British airman, who baa left for the United States, where he intends to make

stratosphere flight by seroplane.

31, 1935.

At NOS

INFLATION MOVE IN U.S. FAILS

SENATE DEFEATS. WHEELER PLAN.

THOMAS GIVES. WARNING

(Special to "Telegraph")

Washington, Jan. 30. Advocates of inflation here have failed to delay the passage of the Doughton Bili.

The Senate has rejected Senator Wheeler's amendment authorising the issuance of paper currency instead of bonds.

Senator Elmer Thomas of Oklahoma to-day predicted that the Supreme Court would sustain the

The Duchess, born in Boston, H.K. Resident Gold Clause, and for this reason he

U.S.A., has sued Gorringo's Travel: and News Agency and four other London firms of News Agents for distributing and selling an Ameri- can magazine called Hoocy, where. In a drawing appeared which was alleged to depict two rose trees in a garden bed from each of which.

rose bent forward as though in the act of kissing.

The caption under the picture

Sees Famed Monster

MR. WOTHERSPOON

AT LOCH NESS

rend: "guess we shouldn't have Mr. William Wotherspoon, of planted the Duchess of Mari-Taikoo Dockyard, who is Home on borough and the Reverend holiday from Hongkong, has seen Robertson Page in the same bed." the Lochness Alongter, according to The Duchess, in the witness box, the Scotsman of December 29, which declared the circumstances neces-reports a statement from him that sitated full publicity because she he saw the creature on the previous had to clear her name,

Thursday at 1 pm: near tho The further hearing was inter-Angustus chd of the Loch. rupted by consultations between In an interviów, Dir. Wotherspoon counsel and Lord Justice Hewart, sald he watched 2ving object whereafter the latter adjourned the moving along the surface for 20 case until to-morrow, saying he took minutes. It turned east and tra a very serious view of it,

velled alowly against a light wind, then it went towards the shore, turned out again, and on the ap proach of a trawler, which was steaming up the loch, it sub- merged and did not reappear.

It was later announced that proceedings against one firm would be discontinued. Reuter Special.

WARSHIPS' DAMAGE

HOOD-RENOWN COLLISION

(Special to "Telegraph"}

(Dy Telegraph, Copyright. Telegraphía Mes saga Ordinance, 1994. Revolved, January

1, 19.tom.

London, Jan. 30. The First Lord of the Admiralty, Sir Bolton Eyres Monsell, explained in the House of Commons to-day the results of the collision between H.M.S. Hood and H.M.S. Renown. The collision occurred when the battle-cruiser squadron was reform- ing. The Renown's bows struck the Hood on the starboard side, he Baid,

The damage to HM.S.. Ronown consisted of a fracture of her atem casting and also structural damage above and below the water-line.. H.M.S. Hood was damaged in her starboard protection compartment and her starboard wing propellor.

The Hood will arrive in Ports- mouth on February 4 for repairs, Sir Bolton said.

There were no injuries as a result of the collision-Reuter

TAXING SILVER TRANSACTIONS

Mr. Wotherspoon described the head as like that of the hornless stag, and sald It was two feet above water. Several feet of the body were visible just on the surface.

The locus of its appearance was between the mouth of the River Oich and the old railway plet, near which he was standing. The object was some 400 yards distant when It disappeared,

Mollison

Plans New

Adventure

STRATOSPHERE FLIGHT

LEAVES FOR AMERICA

Jim

London, Jan. 30. Mollison, the noted British airman, left Southamp-. ton for New York last evening, in order to make preliminary arrangements for his projected stratosphere flight by aeroplane. Interviewed by Reuter prior to his departure, Mollison said he would have to fly at least 60,000 feet to reach the stratosphere and beat the present altitude record of about 46,000 feet.

There is little doubt, said

Accompanied by Lady Poel, His U.S. Treasury Repeats Mollison, that the stratosphere

Excellency wil depart on the P, and O. liner Naldera, on the date named,

and will spend a fortnight In

Malaya, on a vialt to their son, Mr. John Peel, who is à Cadut in tho.

Warning

will be the future medium, for long-distance air transport, and any data or information obtainable about, the conditions In that -region will have a direct Washington, Jan. 80. Malayan Service. They will later The Treasury to-day ralterated on long-distance air routes

in the North would hold United

would procced to England by the P. and O. that the law ilner Ranpura, which they will join States citizens responsible for the at Penang,

profit a foreigner makes from be away, for about two or three weeks, and would probably use No dofinite information is yet gold and silver transactions with an American machine, because Montevideo, Jan. 30. available as to who will succeed Americans.

Thus Americans must ascertain Determined to crush the revolt His Excellency in the Governor- before the capital is menaced by the ship of Hongkong, but it is well such figuren In the same way as ascertain other business march of tho Insurrectionlsts, the known that Sir Andrew Caldecott, they Government has commandeered the Colonial Secretary of the Straits figures and facts,

However, unofficial experts have major railways and is rushing Settlements, who was knighted in

American pur- artillery and aircraft to the Cerno the New Year. Honours, is con- suggested that Chato region on the north-east sidered a strong candidate for chasers could avoid heavy taxation most by employing foreign intermediary frontier where 2,500 rebels are soon post, Sir Andrew is a

|

America was ahead of Britain in altitude_fying.

Mrs. Mollison saw her husband off at Southampton-Rentert

WORK AS USUAL

Washington, Jan. 30,

urged the Senate to wait until after the Court's decision wan handed down.

Senator Thomas said: "We are going into debt at the

rate of $5,000,000,000 a year, and yet

doing nothing to avert the coming disaster."

Further, he said: "I am against inflation, notwithstanding reports to the contrary. I am trying to halt the tendency lending to uncen- trolled inftation." Continuing

09

ол the possible out. come of the Gold Clause case, Senator Thomas said: "The banks solo buyers of Government Bonds will aventually exhaust their liquidity, and if Government Bonds | should drop ten pointa, capital-

surplus would be wiped out.". United Presy,

S'HAI MARKET REPORT

SPECULATION ON NANKING PARLEY

$96.00 PER ANNUM

CITY TALKS

OF THE ASTOUNDING

BARGAINS

OFFERED AT WHITEAWAY'S FOR THE FINAL WEEK OF THEIR STOCK-TAKING SALE

MANCHUKUOANS ADVANCE

RESIST ALLEGED INVASION

BRITISH GOVERNMENT'S NEUTRAL STAND

Tokyo, Jan. 81. Manchukuo troops went into action against Mon- golians last night in the Lake Puirnoir District, accord- ing to a brief message from Changchun to-day.

The Manchukuo troops are reported to have captured the town of Khalkamiao.

Yesterday reports were received of an alleged invasion of Manchukuo territory by Outer Mongolia forces on January 24, and the Foreign Office emphasise ! the fact that it was a matter which called for direct settlement between Manchukuo and Outer Mongolia The Foreign Office expressed the belief that neither. Russia nor Japan would be involved in the affair.- Reuter,

JAPANESE THREAT TO FIGHT

WON'T ALLOW INTERFERENCE

GUARDIAN OF EAST ASIA

(Special to "Telegraph”)

(By Talagraph, Copyright, Telegraphie Man apes Ordinance, Eiff. Riestrok, January 21. 18,19 p.m.}

Tokyo, Jan. 31. Press reports from Hailar atel that Japanean or Manchukacan troopa delivered three simultanes, pa attacks in the Khalkamino area tət the north of Lake Pultnoir 18, night, and after a two hour battla. routed the Mongolian forces,

The Japanese attack drove it: alleged invadera southward.

Heavy casualties were Infict upon the Mongolian army.

RESPECTING FRONTIER The Minister for War, Generzi Hayashi, questioned in the Dt to-day regarding the Johol ará Kahlka incidents, declared that' i any event he was sure the Japanes and Manchukio troops would no¿ë go beyond the borders of Chinca territory-Reuter,

INCREASED ARmament

(Special to "Telegraph")[20

Moscow, Jan. 30rma The Vice-Commissar for De fence, at the All-Union Congres anid to-day that the Russian Ärmj had been increased in four years Mr. Thunedjiro Miyaoko, a from less than 600,000 to 740,000 The Foreign Exchange Market is lawyer of international repute, men, while the Navy and Al slightly easier here this morning

(Special to "Telegraph”)

Shanghai, Jan. 31.

New York, Jan. 30.

Ho

declared they found. I

fence budget by 5,000,000,000 roubles from 1,605,000,000, that the 1935 budget would 0,500,000,000 roubles.

at 10.15, but trading is uncertain writing in the Carnegie Endow- Force and fortifications had best

ment's publication on interna- vastly increased. due to the monetary conference

tional conciliation, officially which is proceeding at Nanking.

The market turned much weaker states that Japan intends to necessary to raise the 1934 te

take a hostile attitude towards at 10.25 a.m.

There are no sellers of exchange. any power which "takes steps Gold Bar quotations are soaring calculated to disturb the peace

Since 1931 the submarine Bel entirely due to speculation as to of Eastern Asia.".

had been increased 435 por, ceas the outcome of the conference at

"In all questions affecting China and the torpedaboat fleet, $70 Nanking.

The market was still easy at mid he continues, "Japan will find it cent. The Air Force had be morning, but is showing an inclina- necessary to oppose any Power raised by 330 por cont. of its tion to ateady slightly due to which, under the guise of benefit- strength and light tanks by 76 reports that Sassoons interests have ting China, enters into business per cent. Medium tanks were resumed selling sterling.

transactions the inevitable result per cent more numerous of which must be the prolongation heavy artillery 210 per ent., of the troubled conditions of that greater, while vust mubillo

Bupplies had been piled up. The Foreign Exchange Market country." Was stendier at noon on Nanking's Mr. Grover Clark, former editor denial that monetary reforms are of the Peking Leader, in the same being discussed,

publication, says that the United However, there are many here' States can afford to condone what who are inclined to discount the the Japanese military leaders have

denial.

NANKING DENIAL

וי

It was learned this morning that done in China and Manchuria. the Yung Kong native bank has falled.

"We don't, need war with Japan. We don't need a formal or official boycott. We need urgently to make The bank's deposits were said to it inescapably clear to the Japanese be $3,000,000 and the loss $600,- 000.

NO MOVE TOWARDS

STABILISATION

U.S. Not Invited To London Talks

(Special to "Telegraph")

people that we won't deal with their Government as though it were trustworthy and honourable until it again proves itself Bo-United PES

WALLER WINS

TROPHY

OUTSTANDING AIR JOURNEYS

London, Jan. 80.

He said the increase in the arm) was necessary, to man the naw fortications in the East.

Naval building had been con ned to defensive craft-Unite BRITAIN'S STAND

Prosa.

London, Jan. 80. In the House of Commons to day, Mr. Edward Doran, Union. M.P., drew the attention of t Government to the recent Japa 80 movements in Manchuris a asked whether Great Britain, is conjunction with the American and Russian Governments, wo 201 make the necessary representati to Japan's Government against ca aggression in that area

He requested Sir John' Sim 1E the Foreign Minister, to conskitji the advisability of entering into af agreement with the United State and Russia with view to maintai ing peace in the Far East.

Sir John Simon replied that": Government had received rep covering the Japanese moveme Manchuria.

The Segrave Trophy for 1984

Nelther of the wo parties! Washington, Jan. 30,

has been awarded to Mr. Kennethvolved had addressed the Gover The Secretary of State, Mr. Waller, the British airman, as a ment In the matter nor had Cordell Hull, in an interview to-day, result of his flights to Australia reiterated that the United States and the Belgian Congo, had not been approached regarding

communication bein, recalved?fak

Government, ho ddo The Trophy was sustituted in the discanstanser, the question of currency stabilisa-memory of the late Sir Henrapecial action by British tion.

Sograve, killed while driving his ment did not appear to be America had not been invited to motorboat at n world's recordReute

the establish a special contact with nnect and is awarded to London, during the visit of the Briton

expected to clash with 8,000 federal enpablo and versatile man- and purchasers, whose.. nelling proat.To-day was Prealdent Roosevelt's- French Financial Mission which have acconsidered to

,troops.

The situation is admittedly grave. his lengthy service in Malaya. He with the profit of the primary day but proceeded with business,

is 50 years of age,

foreign seller-United Press. United Prese

as usualUnited Press.

the most out

demonstrations of the

tion of the frane and tho, pound, possibilities of fast, travel by land, he added.United Press.