1935-02-19 — Page 1

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Telegraph" Missing Pest, Ltd.,. Street, HagkcRE.

The

FIRST EDITION

Library, Supreme

Hongkong Telegraplf

SINGLE COPT 19 GENTE

No. 14120

FOUNDED 1001 二拜道 號九十月二英港香

TUESDAY, FEBRUARY

19,

1935.

IMM PIR AMRUM 日六十月正

U.S. BOND POLICY UPHELD

SUPREME COURT'S

DECISION

MARKET IMMEDIATELY GIVEN IMPETUS

The United States Supreme Court, in quashing to- day. the action brought by Mr. Norman C. Norman against the Baltimore and Ohio Railway to collect from them the "gold clause" value of their bonds which he holds, was a victory for the Administration and a de- fence of the monetary policy of President Roosevelt. The abrogation of the gold clause by Congress was thus approved by the Supreme Court, though. the justices were divided five to four in their judgment.

The Supreme Court has given outright approval for legislation eliminating the gold payment clauses from all private bonds, and also has thrown out other suits seeking test legislation as applied to Government bonds, and likewise the suit seeking the payment of $1.69 in devalued currency on gold certificates sur- rendered under the Treasury's orders, says United Press.

With reference to Government bonds and gold certificates held in the United States and in Court claims in which suits have been filed, the Court holds that it has no authority to entertain such suits.

In the Liberty Bond caso it is held that Congress went too far la eliminating the Gold payment but it is said that any action to re- cover payment must be made in law, and the Court claims that it has no jurisdiction in such matters.

The Court's denial of jurisdic- tion in claims appeared to leave the holders of Government bonds and gold certinentes without re- course for recovering extra pay- menta, regardless of the fact that the Court believed that Congress went too far.

Members of the Treasury "have taken the view that the Supreme Court's decision is a complete Gov-: ernment victory.

FIVE TO FOUR

Washington, Feb, 18.

CANADA'S QUICK REACTION

EFFECT OF GOLD JUDGMENT

ROOSEVELT SILENT

Ottawa, Feb. 18. Financial circles throughout The United States Administra-Canada are satisfled with the gold clause tion has won the gold clause case in United the Supreme Court, having been decision. upheld by a 'majority ruling of the court by five votes to four.

Reuter learns that, the Govern ment victory is only partial, that its gold clause abrogation in private bond issues is upheld but that, In federal bond cases, it is defeated.

The Administration has decided that no emergency legislation is necessary, however.

ALL ALONG LINE

States

Freed from a cloud of un- certainty, the Canadian share- markets awang upward to-day, both gold shares and industrials sharing the advance.

Some gains were later lost through profit-taking, but general advances were shown on the day's trading over a wide list of issues.

In response to advances from the Chicago. Wheat Pit, wheat in The Government has won all along the Winnipeg Grain Market rose the line regarding private bonds, one and a quarter cents a bushel, state and municipal gold contracts. but reacted later to a half-cent

In ench case the court upheld by gain-Reuter, Ave-to-four the right of Congress to

regulate currency.

The majority of the court con- sisted of Justices Hughes, Stone. Roberts and Cardozo, and Brandies, the minority votes wero from Justices McReynolds, van Devanter, Sutherland and Butler.

READY FOR EMERGENCY

(Special to "Telegraph”)

The jury in the Hauptmann trial taking a stroll in the streets of Flemington, with guards at the front

and rear of the line. Dopputehen state th at the jurors are to appear in vaudevilla.

MOTHER

PLEADS FOR SON

MRS. HAUPTMANN'S

MESSAGE

GOVERNOR'S

SYMPATHY

Selections

For To-day's Race Card

ROSE QUEEN TO FEATURE

DERBY DAY

A CHOICE.

+

Trenton, N.J.. Feb. 18. Governor Hoffman has re-i

BY CAPT. FOSTER ceived a cable from the mother'

whose of Bruno Hauptman,

Rose Queen, Derby Day and home is in Kaménz, Saxony, in Wadebridge are expected to which the old lady pleads for figure among to-day's winners at clemency for her son, and if he the Annual Race Meeting which must be punished that he be sent has now entered upon its third to prison.

day.

events follow:----

LABOUR

URGES INQUIRY

PEPPER CRASH ECHO

QUESTIONS

CURBED

London, Feb. 18.

Mr. David Grenfell, Labour, to-day asked in the House of Commons whether Mr. Duff Gov- Cooper, speaking for the ernment, was satisfied that an inquiry would be pursued as for

The Governor, replying anya; My selections for the twelve as was necessary to allay public "We deeply sympathise with you, Your son's case is to be carried to the Court of Appeals.

The Governor of New Jersey at present has no power to pardon. 1 aball sit as a member of the Court of Pardons that may finally hear this case and cannot express an opinion until then."-Router.

Piracy Fear Dispelled

DISTRESS SIGNALS WERE CRACKERS

Fears of another piracy having occurred were dispelled this morn- ing when the naval authorities in- timated that the rockets supposed to. have been fired by an unknown ship in the region of Breaker Point werd actually crackers discharged by a Chinese vessel.

the

Following the receipt last night

message from of a wireless II. A. 1. steamer Burgenland that she had sighted several rockets fired by an unknown ship some 20 miles BS.E. of Breaker Paint, where was

(y Telegraph, Copyrighi, Telegraphio Miss- edgar Ordinaner, 1871. Received, February 19. 1 G.m.)

Washington, Feb. 18. Declaring, "The Constitution is The decision of the Supreme gone, Justice McReynolds present-Court on the gold clause case is much activity in naval and police edthe views of the dissentient expected at noon. The Governors Judges, criticising the majority have decided to open the Stock judges for saying in one breath Exchange but apparently under

Trading Congress had no power to repudiate supervision.

opened

its gold bond obligations and at quiet, and alightly lower,

the same time reaching the conclu- The market is maintaining its

sion that because the Government bond-holder cannot accept gold he must accept a 60 per cent. legal

(Continued on Page 7.)

took

circles.

Men belonging to H.M.S. Dia- mand were recalled to their ship. whilst two police launches were des- patched to Mira Bay.

Investigations since made, how- ever, show that there was no real cause for alarm. A British des troyer on patrol proceeded to the spot indicated by the Burgenland and was able to ascertain that a Chinese ship in the locality had been discharging crackers and that there was nothing whatever in the

tender dollar for each gold dollar parity between the kinds of cur the Government promised to pay rency, and to make that currency him.

dollar for dollar legal tender for He added that according to the payment of debts. majority decision, Congress was The court, however, without power to repudiate its gold different view where the Govern-way of a piracy, ha at first feared. obilgations in its own bonds, butment's own bonds were concerned. could not be compelled to pay in In this case,

Bald the Chief devalued dollars the, value of the Justice, the gold clauses were

In- gold called for.

definite tended to

afford They were told, he recalled, that standard of mensure of value. the Government made from its thus protecting against deprecia- transactions In devaluation $2,800.- tion of currency by payment of 000,000 which were now reposing in Iraser value than that subscribed. the Treasury.

Nevertheless, the court proceeded to nullify the effect of this opinion

THE JUDGMENT

MANCHUKUO OIL

MONOPOLY

Changchun, Fob, 18.

It is oficially announced that

by ruling that Government bond-ell monopoly regulations will bo on next April 1, The Chief Justice, delivering holders may not sub the Govern- put into force

after which all the licensed oil hla judgment, expressed the mint. opinion that the gold clauses in-

The value of United States Arma in-Manchukuo will be sub- terfered with the exertion of bonds containing the gold clausejected to closs supervision by the agents. Central power granted to Congress to are approximately $48,100,000,000 | Manchukuo establish a uniform currency and and private bonds, $51,900,000,000, News.

RACE 1 Matinec Idol Gold Picker The Deemster

RACE Z Clear View High Honour Popular Star

RACE J Able Amazon Saucy Face Bag Tor

RACE 4 Dunbar's Selected' Dynasty's Selected Ribble

RACE 's'

Bistre Cavalende Helter Skelter

RACE G Wadebridge The Chetah Lucky Strike casÍZATION

RACING EXTRAS

opinion, both in the City and among the people everywhere. who were greatly concerned by the character of the recent transactions in pepper.

xx.

He asked also whether Cooper was aware that shareholders of Messrs. James and Shakespeare,

NEW

·SEASON'S GOODS

IN ALL

DEPARTMENTS

NEW EXCHANGE :

PRICES

AT

WHITEAWAY'S

GERMANY'S SWIFT VENGEANCE

WOMEN SPIES SENT TO SCAFFOLD

•

GRUESOME SCENES IN

PRISON YARD

(By Telegraph, Copyright, Telegraphic. Messages Ordinance, 1894. Received, February 19, 9.40 am.)

Berlin, Feb. 18.

A scarlet and black notice bearing in large type the words: "To Death," was the first intimation the people of Berlin were given to-day that two socially prominent women had been decapitated for selling military secrets of their country.

Baroness von Berg and Frau Renite von Natzner were the first women ever executed in Germany in peace time for any crime other than murder.

The executions were carried out two days after the announcement was made that the women had been found guilty of plotting against their country and sell- ing military secrets to a foreign power. Two accom- plices in the plot, Fraulein Trene von Jena and the Pole, Baron George von Sosnowski, were sentenced to penal servitude for life. Sosnowski was allegedly the prime mover in the affair.

GREAT BRITISH FAIR

JUBILEE NOTE STRUCK

THOUSANDS OF BUYERS

(Special to "Telegraph")

(By Trlegraph. Copyright. Telegraphic dem Angra Oniinaker, 1895. Received, February SV. .20 .m

London, Feb, 18. Twenty-one miles of stands,

The executions were carried out at dawn to-day by a professional executioner, wearing, the tradi tional evening dress, and white gloves. He was accompanied to the scaffold by two assistante.

The Baroness von Berg was dressed in plain prison clothes. She shuddered as she stepped on to the platform of the scaffold and approached the block. Kneeling, with her eyes closed, she waited for the blow. She was decapitated in one stroke of the axe.

The head rolled into a basket filled with sawdust and her body was immediately lifted and placed in-a-coffin,-to-ba-carried away. while the scaffold was being pre- pared for the next victim of this

wift vengeance,

The execution of Frau von Natzner followed a fow minutes Inter.

According to unofficial reports,

recently posted on the Exchange when they were unable to meet com-packed with the cream of British the spy case was, related to the for the invasion of Poland should mitments in pepper deals, allege manufacturers' products, will theft of the general staff's plan that the Arm's business was in-fill Olympia and White City it become necessary. tended to be confined to tin and not where the British Industries extended to pepper.

Fair is celebrating its twenty- Mr. Duff Cooper repeated that all first birthday. A mile of dis- enquires would be made by the play for each year! official receiver.

EARLIER EXECUTIONS

Earlier

reports from Berlin atate that Kurt Roehm of Lud- Nerz of A Jubilee celobration note is wigshafen and Paul reflected in a great variety of Stuttgart were executed at dawn Mr. Grenfell then asked whether articles. One firm honoured the on February 9. Herr Hitler ro- it was the case that a number of King by bullding the biggest fused to pardon thom, as he ro figures in joint stock bankding were grand piano aver turned out. It fused to pardon the two women involved in the James and Shakes-weighs a ton and is nearly twelve behouded to-day. pears concern. Mr. Speaker here feet long, and is finished through- They were convicted on October intervened and the question was, out with silver. not answered.—Reuter,

NOT CONCERNED

Capetown, Feb. 18. Mr. Reginald McKenna, Chair- man of the Midland Bank, and Liberal member for

Monmouth shire, when he arrived here on holiday to-day, said he was most surprised that his nume had been mentioned in connection with the pepper pool dealings in England.

He said he was morely a share Shalder in the James and Shake- speare firm and was not concerned with Its flotation or its manage-

The Hongkong Telegraph will publish extra editions -to-day-reporting-results of races, with cash sweep win- ners' numbers.

RACE 7 Пово Qucen Mistake Day. Soldier of Victory

RACE # Lion Hunter Sel Fa Touchstone

RACE D Derby Day Southern Cross Shooting Star

RACE 10 Dunbar's Selected Dynasty's Selected

RACE 11 King's Jubileo Gold Cain Pacific Hall

RACE 12 Gladiator Oak Bay Jungle Jim

| ment.-Reuter.

MORE HONGKONG SILVER

$500,000 WORTH SENT TO SHANGHAI

Shanghai, Feb. 18. Another consignment of $500, 000 in allver arrived here aboard the President Jackson from Hong- kong to-day.

were intended warning

I

16 of having betrayed military Growing out-door habits result-secrets. ed in extensive displays of sun-

Red posters appeared on the bathing mattresses and rafts, and

billboards announcing the decapi- other similar nids to sunburn.

tations and it was generally More than 135,000 home and believed, in this case,

that they overseas buyers are expected bo

as a gesture of of the fore the end of the Fair.

Germans The Duchess of York was among severity of sonionces which would the earliest of the visitors to-day be imposed in ceea of high

-Reulor Special. at the White City, where textiles trenson. are the specialty of the display. Her Majesty the Queen plans to visit Olympla twice and also the White City-Kenter Special.

THE ABYSSINIAN DISPUTE

BRITISH MINISTER'S

GOOD WORK

Landon, Feb. 18.

to

NEW SILVER REGULATION

CHINA HOPES FOR FREER FLOW

Shanghai, Feb. 19.

The Chinese Customs authorities have been instructed by the Nun- king Ministry of Finance to put into force an order for tho importation

of

In the House of Commons, Sir encouragement John Simon said the British of silver. Minister at Addis Ababa had from

The main points contained in the beginning given his good offices to promote an amicable the order are as follows: Any- settlement of the present difficul- amount of imported silver (500,- ties between Italy and Ethiopia. 000 ounces and upward) has to be The Foreign Secretory added earmarked and, I re-exported, will It represents a part of the that he understood conversations ba exempted from the axport $20,000,000 of silver purchased in had begun in Addis Ababa be- surcharge and the ellver equalis. Hongkong by the Chinese Silver tween the Italian Minister and tion ratas, except as to the origina

"Government. T

2.58. Dér contexport duty Equalisation Committee.Central the Ethioplan

Central Neos British Wireless, News,