1935-02-23 — Page 17

THE ORIGINAL

CHIP BATH HEATERİ

ensures gallons of hot water entspr

quickly,

officently, Cost of operation, prac-, tically nill

CHIPS, SHAVINGS, PAPER, ETC.

MAKE FINE FUEL

NO RUNNING COSTS

YOU MUST INVESTIGATE

WARREN'S

C. E. Warron & Co., Ltd. China Building.

The

FINAL EDITION

Sup

Hongkong Telegraph.

WOʻTZEDEN. 1881

No. 1424

六拜禮張三十月二英店街

SATURDAY, FEBRUARY 23,

1935.

¤†ƒÆ IN DOFF 13 CONA)

$8400 PER ANNUM

NEW

SEASON'S GOODS

IN FALLE

DEPARTMENTS

AT NEW EXCHANGE PRICES

AT

WHITEAWAY'S

MANIPULATION OF SILVER INJURES TRADE

HOSTILE BANKING

OPINION

CHINA MISTAKEN IN EXPORT POLICY

H.K. & S. BANK CHAIRMAN

REVIEWS POSITION

JAPAN'S SUSPICION AROUSED

SHIP ASHORE. IN FORTIFIED ZONE

U.S. MASTER QUESTIONED

(Special to "Telegraph")

(ly Telegraph. Copyright. Telegraphie Missi Ordinance, 1894 Reggived, February

g

| 13, 130 p.m.j

Tokyo, Feb. 23.

Tinder for a very heated in- ternational flare-up has been struck here by the reports of the stranding of an American vessel

Lengthy reference to the silver situation was made by the Hon. Mr. C. Gordon Mackie in presiding at the annual meeting of the Hongkong and Shanghai Bank- ing Corporation, whilst Mr. A. L. Shields, in the course

inside the Japanese fortified of a speech, also touched on the question when he re-zone and the consequent aus- marked that so long as silver is subject to political mani- picions of the authorities. pulation and is not allowed to find its real level as a commodity, settled and profitable trade conditions cannot be expected in the Far East.

Mr. Mackie hesitated to make any forecast as to the future of the currency position in China, stressed the necessity of the greatest caution being observed and urged that no steps should be taken except in consultation with those most qualified to advise. He added that the Bank was anxious to co-operate in any measures which will have a beneficial effect.

Referring to the restrictions imposed on the export of silver from China, Mr. Mackie said best-informed opinion in China was almost unanimous in agreeing that the action was a serious mistake and that it in- creased lack of confidence while conducing to smuggling of silver out of the country.

In a reference to general condi- tions in the Far East, Mr. Mackie! Baid there was much inflammable material lying about, and caution allied with wise statesmanship, particularly in the capitals of countries surrounding the Pacific, was needed.

Dealing with Jongkong's posi- tion, Mr. Mackie said that, con- sidering the vast possibilities of China, he could not be really pes- simistic about the future. The deplorable oltration now existing in Shanghai was serving us additional drag on trade, but he felt that some way out would be found.

an

Hon. Mr. C. G. S. Mackie, proposing the adoption of the report and accounts, said:--Ladies and Gentle men: Since our last annual meeting

I regret we have to record tho death:

BULKY SILVER IMPORTS

NINETY TONS:

FOR U.S.

GREAT GOLD SHIPMENT

New York, Feb. 22.

It was learned here to-day

of Mr. J. P. Warren who served on the that ninety tons of silver were Board for a number of years. He was

a man of charming personality and imported on Thursday, February

will be greatly missed in the Colony. 21.

The report and statement of Ac-

The vil tanker Elizabeth Kellogg went ashore on Cape Kannon, in the fortified zone, at the north en- trance to Tokyo Bay.

The newspaper Kokumin states that the naval authorities despatch- ed a destroyer to the Elizabeth Kel-

logg and the commander boarded and cross-examined the master of the American ship and thirty mem

bera of the crew,

The Japanese officer reported that the tanker's master gave him nonsensical repiles when asked why

he had stranded his vessel within the fortifled zone.

ported to have sent a wireless mes

Later, naval authorities are re-

go to the Elizabeth Kellogg that she was not to move from the spot even if she refloats.

There is another American ve-

NEW PLAN FAST TIMES AND

TO SETTLE

WAR DEBTS

AN UNOFFICIAL OFFER

ANGLO-U.S. ACCORD

(Special to "Talegriph”)

(By Telegraph. Copyright, Telegraphia Mar- Tiger Orifinuner, J886. Retrived, February 1, p.m.)

Washington, Feb. 22, "New Deal" economists are interested in an unofficial plan

Mr. Lloyd George, who is continu ing his campaign, for national recon struction, in spite of Ministerial for the solution of War debts,

rebuffs. !

Mail Plane

Crashes On

Canton Hop

ONE OF PILOTS SLIGHTLY HURT

RESCUERS DELAYED

(Special to "Telegraph")

attributed to New York bankers.

4

The plan, it is belleved, centres on the presumption that Anglo- American 'accord is the basic ca- sential of world economic normality. It is therefore.propos- ed that the United States, credit against the principal of Great Britain's indebtedness all the Brit-} ish Interest payments made thus far.

The United States would relieve Britain of any "defaulter" stigma and the British debt would be re- funded on terms consistent with: the post-depression“, economla altuation.

זי

The two countries would co operate in promoting more normal| trans-Atlantic commercialex-|

change. This collaboration would later be extended to France, Italy and other debtor nations,

It is believed some English bank-

(De Telegraph. Copyright. Telegraphic Mawers are acquainted with the plan Ordinamos, 1834. Hvezd, Pebruary which is interesting authoritative #3, 11 0.m.}

Shanghal, Feb. 23.

FAIR PURSES

FLEMINGTON PLATE. SURPRISE

GOOD DAY OF RACING AT HAPPY VALLEYT

Favoured by fine weather conditions, the final day of the Jockey Club's Meeting drew a large crowd of turf enthusiasts to Happy Valley this afternoon, when. some excellent racing was witnessed.

With most of the winners of the other days of the Meeting barred, there were expectations of some big dividends being paid on the pari-mutuel, and in the. early events quite good returns were made.

There was a surprise in the Flemington Plate, the first leg of the double, in which The Bean Goose, hot favourite, was unable to secure a place. Mount Pilatus, ridden by Mr. Black, won by a length from Goldsmith and paid $32 for a win. The race was run in 'good time, being only 2/5ths of a second outside the record.

LUCKY SWEEP TICKETS

circles despite its unofficial origin. WINNING NUMBERS It is considered more practicable;

A Eurasia transport and mail than any previous suggestion.-

sel stranded on the Japanese const.plane is reported to have been United Press. She is the Catherine Radcliffe, forced down 50 kilometres from lying ashore on Cape Enojima, at Chengchow. Hunan,-while-on-a the entrance to Uraga Straits, but

she is outside of the fortified zone. flight from Shanghai to Canton.

The Catherine Radcliffe went ushore in a heavy gale.United Prras.

Russian Gold For Britain

SIGNIFICANT TRADE ARRANGEMENT

London, Feb. 22. The Soviet Government has de- cided to ship' gold to London in

The shipment was apparently settlement of her trade debts, in- counts having been in your hands for consigned to various banks, pre stead of to New York, as she has some days I will, with your permission, sumably. take them, as read,

for the Treasury's done hitherto. account, under the Silver pur- After making full provision for

This decision was taken as a chase programme. Josses and contingencies, the not

Gold imports on the same day result of the breakdown of Russo- profits for the year amount to $13,044.-

American dobt settlement negotin- 607.36-a roduction compared to 1933 amounted to over $29,000,000.

Wall Street brokers are credit- tions. of about $22 lakhs due to the higher

The move is considered of the

rate of exchango prevailing on Decem- ing the gold imports to the result ber 31 last.

of the operations of the Stabilisa-greatest importance owing to the

GOLD PRICE RECORD

After deducting the interim dividendtion Fund.-United Press, paid at 1/0.3/4 and Directors' re- muneration, there remains available; for distribution $9,914,213.50 which It is proposed to deal with as follown:

д

(ina) per

To pay dividend of $3 share (subject to de duction of income tax) $6,819,512.20

Bank

Transfer to Premises Account

Carry now Account

forward” to"

London, Feb. 22. By a further advance of 7d. to-day the price of gold ronchod u new record price of 1438, 6d.

The advance is attributed to the sharp appreciation of American and Continental currencies against 1,000,000.00 sterling-United Press. 3,294,701,30 $9,914,213.50 NATIONALISING

UTILITIES

fact that Soviet gold production has increased considerably, as have her purchases in Britain- Reuter.

S'HAI MARKET REPORT

RATES STEADY BUT TRADE DULL

(Special to "Tolograph")

There were only two persons in the machine, the pilot and co-pilot, and one of them was slightly in- jured in the forced landing.

A rescue plane was despatched from Hankow but it fulled to reach the scene of the accident.

the im.

A new attempt to fly to damaged craft will be made mediately.-United Press,

ANGLO- GERMAN PARLEY

DISCUSSING PACT PLAN

SIMON TO GO TO BERLIN

(Special to "Telegraph”)

the Telegraph, Copyright. Telegraphic Mee pee Ordinance, 119. Received, February

27, 8.20 0.m.)

London, Feb. 22.

COLONY EXTENDS RATES

NEW TERRITORIES CHARGES

PREVIOUSLY. EXEMPTED

A modified system of rating Is intended to be applied to the New Territories, which have hitherto

been exempt from

AT RACES

The following are the winning numbers in to-day's cash sweeps up to press time:

No. 128

575

་་

678

• Race No. 1

$866.00 2-17.60 123.80

A field of seventeen startors was seen in the opening race, the Nil Desperandum Stakes, which produc-- ed a fine race, with Emergency Call securing the victory over Lincludon by half length. There was some difficulty in gotting "the ponies Inway, and at the starting-gate Mr.

S. Y. Sun was thrown from Lion. Hunter, but was not injured.

Flamingo, ridden by Mr. Diets, was

left at the post.

The Griffins Spring Handicap provided a hot Anish, High Honour, with Mr. Tao up, coming in a short head in front of Ythan, with Soldier of Pence a head behind în third position.

Mr. Frost brought home Seven- teenth of September in the Sub- scription Griffins Champions, com-

Unplaced ponies ($50 each): 11g in three-quarters of a length Nos. 2533, 825, 800, 501, 535, 786, ahead of Lucky Strike, with Fro- 2233, 888, 803, 671, 2092, 390, 1764, pitious Time in third place.

Ince No. 2

1863.

"

No.2211 1716 825

1-The Nil Desperandum Stakes -- (Firat Section), -Winner 3000. Sec- ond $250.. Third $10. For Chinn $1,292.00

Ponles, Subscription Griffins of this 369.40

Club of this Mocting that have started 184.70 at least twico and have not y won. Unplaced ponies ($50 each): Weight for inches as per scale. Nos, 805, 117, 1951, 1075, 2926, Jockey allowance. One mlle. 2178, 1762, 6, 1878, 3083, 1094, 93 Dr. Leo Shiu-koe's Emergen- 1077.

cy Call (158) (Mr. En- carnacao)

Race No. 3

No. 880.

2360 2553

$1,678.00 479.50 239.80

rates. The draft of a bill to Unplaced ponies ($50 each)? effect the change appears in the Nos. 2499, 1891, 1607, 2240, 937,

2443. current issue of the Gazette.

It is explained that despite the fact that there is no provision in the Rating Ordinance, 1001, exclud- Ing the Now Territories from the

Race No. 4 No. 2193

2096 194

$1,888.20 526.20 262.60..

operation of that Ordinance, no Unplaced ponics ($50 each): Assessment or collection of rates has Nos. 3800, 2442, 1628, 2356, 607, hitherto been made outside the| 084. boundaries of the inland of Hong-

Race No. 5

$1,950.20 553.20 276.60

kong and of Kowloon and New No. 1716 Kowloon.

800 3888

With the granting of certain benefits in the way of street light-

Unplaced ponies ($50 each): ing, street maintenance, drainage. Nos. -626, 493, 2241, 3819, water supply, scavenging ect., to 1469, 2108:

278.

Race No. 6:

No. 3028

$2,051.00

*

2284

3140

586.00 293.00

97 Mr. John Peel's Lincluden

(152) (Mr. L. G. Frost)

108 Mr. Manx! The Deemster

(162) (Mr. A. J. P. Heard) 8 Won by half length; length. Time: 2 min. 09.3/5 secs. Pari-mutuol: Win $10.00; Places $0.10; $9.20; $7.30.

2-The Nil Desperandum Stakes,

$800, (Second Section) Winner Second $260. Third $150. For Ching Ponies, Subscription Grifins of this Club of this looting that have started at least twice and have not won. Weight for inches as por scale. Jockoy allowance. One mile.

117 Mr. Brish's Touchstono (158) (Mr. L. G. Frost).... 701,113 Mrs. Mackle's Invormark

(157) (Mr. D.-S. LI)

It is stated semi-officially that such areas as Taipo Market, Yuen Sir John Simon, the Foreign Long, and Tsuen Wan. It is con- Minister, will shortly visit Berlin aldered that some form of rating to confer with Herr Hitler should be applied in the case of such urban `akens In the New respecting the proposed protec Territories. tive: pacts whilch were born at Accordingly, the prosent Bill Unplaced ponies ($50 each): the Anglo-French London con-adds to the Rating Ordinance, Nos. 1074, 562, 1929, 2008, 938, ference.

1901, a new section (Section 49) The decision of the British in eight sub-sections establishing - Shanghai, Feb. 23.

Government to enter into con- In the New Territories (other than exchange market hore this morn- reached after Germany had agreed of rating of which the gallent ing.

to discuss all the points of the features are as follows: Trading, however, Is almost Franco-British communique, sug- The District Omcors in their at a standstill and the market legesting, among other things, a respective districts are given the featureless,

western European air pact of powers and duties of the Assessor of Rates and the Colonial Trading is still dead at 11.15.

mutual assistance.

It is explained that the visit is Treasurer under the Ordinance; 158 Able Amazon (Mr. Li) The United States dollar Is

Rates are to be imposed upon 165 Rose-Ann (Mr. Neoda) designed to make possible con-

With regard to the figures of the balance sheet, you will notice an in-i Ereas under the heading of Bank Promises, which is of course due to a considerable part of the cost of our PUBLIC OWNERSHIP new Head Ofice being charged to tho account. It has also had to bear the LEAGUE DEMAND. cost of new offices in Yokohama and Saigon, both of which were completed)

'Washington, Feb. 22. In the past year. You will all have

The Public Ownership League noticed the rapid growth of our new office here, which we hope will be passed a resolution kefe to-day ready for occupation in October next advocating the public ownership If nothing unforeseen happens. of telephone systems.

The principal changes in the rest of the balance sheet are shown in a row that federal ownership would be slightly easier due to firmness in verantions, but does not presup such parts of the Territories as 169 Bag Tor (Mr. Davis) duction in current accounts, with a considered preferable. -- United London, similar reduction in cash and bills| receivable

on the other side; this is Pres8. mainly due to the situation in Shang-

Rates are stendy on the foreign varsations with Berlin was New Kowloon), a modified system STOP PRESS

hai which I will refer to later..

a.m."

In their resolution it was agreed

AUSTRALIAN PONIES' CHAMPIONS

110 Mr. Wekea's Matinee Idol

· (152) (Mr. V, Neoda) Fifteen startors. :)

Won by three-quarters longth: two lengths.

Time: 2 min. 06.4/5 secs. Parl-mutual: Win $20,20; Places $0.20; $5.70; $0.70.

3-The Grifos Spring Handicap "A" Division-Winner $600, Second $250. Third $150. For China Ponies, bona fide Grifins of this Mooting that. have started at least twice, and have not won. The top wweight allotted will not exceed 108 lb., and the bottom weight will not be less than 140 lb. One mile. We

2124 Mr. L. T. F.'s High Honour

(101)(Mr. B. L. Tao),

120 Messrs. Mackie 4 Gra

burn's Ythan * (1)

P: Botelho).

mont,

Reliable observers estimate that Pose the conclusion of an agree are declared by the Governor in Council to be urban areas and inj the speculative position la.. over- aold

£1,500,000, France will watch proceedings respect of buildings only. approximately

GRADED SCALE

Cash Sweep

No. 4186 2075

170

$2,180.80 609.80 30440

128-Mr

Unplaced pontées - (350 gesch)

Sun

and

His Excellency the Governor has which, however, is probably offset with the closest attention

notes of the conversations will be DIFFICULT TIMES AHEAD appointed Mr. E. B, Nelson to act as This time last year your Chairman Suparintendent of Aerodrome during by the large overbought position transmitted to the French Govern Buildings are to be classifed ac spoke in fairly optimistic way of the the absence na leave of Mr. A. J. R. of merchants, which is now an ment at the earliest possible cording to their value as assessed Nos. 4014, 2119%

(Continued on Page: 8.): Moss,

important factor.

moment-United Press,

(Continued on Page 7) No

Ship-pan

Soldier

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