1935-03-11 — Page 19

BARRIER INFLATION TO TRADE | SENTIMENT RECOVERY GROWING

PRICE LEVELS UNBALANCED

CANADIAN BANK **SOLUTION"

Montreal, March 10...

U.S. MAY AGAIN..

DEVALUE

· NEW ` DEAL'S STRUGGLE Washington, March 9. Normal world. trade cannot Inflation sentiment is gaining be restored until parity between in Congress. The weakness of and sterling, price levels has been achieved, commodities the Royal Bank of Canada says coupled with Congressional in its monthly letter here. The threats of wild Inflationary legis Jetter points out that the most lation, may cause the President reasonable means of main- to devalue the dollar to fifty taining permanent exchange cents as a compromise. stability would be the revalua-} tion of gold currencies on basis, approximating the recent changes in the value of gold in the United States,

No evidence éxlata of a British- American currency agreement.

Prospects for ali legislation are uncertain as a result of growing opposition to the New Deni.

Moderate regulation of holding

THE HONGKONG TELEGRAPH.

BRITAIN AND U.S. TO AID CHINA

Will Act Alone If Necessary

London, March 10. The opinion has been ex- pressed here to-day, that If.. Japan does not join in the international action for financial aid to China, Great Britain and the United States may jointly grant the loan.

Meanwhile, in Washing- ton; observers predict an investigation to determine how poor China really is. Shanghai vernacular papers are opposing a foreign loan to China, saying it is un- necessary.-United Press2.

mazon.com

"ASIA” LITIGATION

BEGINS.

MONDAY,

FIERCE GERMAN FIGHTER

́SCHMELING BEATS STEVE HAMAS

HUNTS LOST WORLD TITLE

MARCH 11, 1935.

RADIO BROADCAST

Jazz Banjo and Piano Recital from Studio

ર

Z.E.K. PROGRAMME

From Z. B. W. on a wavelength of 355 metres (84 kilocycles):

5-7 p.m. Hongkong Hotel Dance Orchestra.

Coates),

Light Orchestral

(Valsolto) (Erlo

Hamburg, March 10. The next challenger for the

7 p.m. Stock Quotations, 7.03-7.30 p.m. World's Heavyweight Boxing Selections, Championship will probably Wood Nympha come from. Germany, in the person of the former champion, burly Max Schmeling. To-night, before 20,000 wildly cheering | 1ght, fans, Schmeling slattered the hopes of Steve Hamna, American aspirant for the chali lenger's rights, and there- by established himself first favourite.

A Little Love a little klas (Silesu). Mock Morris Danses (Grainger). Because (d'hardelot), Handel in the Strand (Grainger). Walizes from Vienna-Waltz Medley.

The American lost on a technical

7.30-8 p.m. Jazz Banje and Plano Recital by Fred Carplo and Julian Silverio.

8. p.m. Time and Weather Report. 8.03-11 p.m. Relay from Tai Ping Theatre (Chinese).

One of the most important fac-companies and utilities is likely kong, claimed compensation for knock-out, and was so battered at Quotations.

tors contributing to

dolayed re-

covery, "and lacidentally to sociale abolition of holding and politica! unrest in Europa" companies.

Rafiroad and coal minors strikes is the deepening depression in the are likely in the Spring. gold bloć countries, and price

More than a seasonal decline levels in the United States and the countries which have abandon-in business between now and mid-

summer is expected.

·ed the gold standard.

The continued drought is

a normal basis when these price

REVALUATION NEED

"This cannot occur without fur-

(Continued from Page 1.) charterers of the Apocy of Hong- salvage services rendered to the same position. Asla on January 13 and 14 at the

the end of the ninth round that the referee stopped the light.

9.30 p.m. Press Bulletins, Stock 10.30 p.m. Press Bulletins, Stock Quotations,

11 p.m. Close Down.

Schmeling outpointed Hamas in

Z. E. K. Programme MASTER'S EVIDENCE

every, round except the fifth. He

8.30-10 p.m. European Recorded Capt. William Lee, master of Boored Big Steve for a count of Musle from Z.E.K. on a frequency of the Shun Chih, said that on eight in the sixth with a terrifle 640 kilocycles. January 13 he received instruc-right to the jaw,

8.30-8.66 p.m. Concerto N. 1 in G tions from Mr. Lee Koon-chun,

The German ex-champlon main-Minor, Op. 28 (Max Bruch) played by

INFLATION PROSPECTS

Washington, Mur. 10. ther drastic deflation in the gold The Treasury has announced countries, or as the result of a that it intends to use à portion of great improvement in the volume the gold seizure profits to retire of business and prices in the 3074,625,080 of the national debt. United States and the non-gold The debt will be dicharged countries, or a combination of through gold certificates, which is both; or anally, as the result of regarded as being potentially the evaluation of the gold in the inflationary, United States. Deflation in the

After August 1, 1986, the Trea- gold countries in proceeding 80sury and the Federal Reserve slowly that revaluation seems the Bank will have the sole power to most practical alternative. With issue currency, the national bank revaluation accomplished, per-currency, being replaced by manent exchange stability could Federal Reserva note issue with be maintained.

"It would be a long step in this direction if the United States could definitely state that there would be no further change in the valug" of the gold dollar. A statement Federal Reserve has the power to set towards Gap Rock which they of this nature would tend to bring issue $1,687,500,000 in forty per only managed to clear by three about a flow of gold toward the cent. notes for gold cerificates ifquarters of a mile. At times the United States, both because of re-the Government so decides.ship was stationary and turn of homo capital from abroad | United Press.

"Trade can only be resumed on causing renewed waxletles for next managing director of the Wo Fat tained a two-sted attack from the Master Yehudi Menuhin (Violin) and levels some together," the letter Fritz,

summer.--Swan, Culbertson and Shing, Ltd., managers of the ship, outset, and in the final round, have the London Symphony Orchestra.

8.56-0.30 p.m. Variety, to proceed to the Asia's assisting cut inmas to ribbons, he knock-Piano Solos Music in the Air ance. He sailed the

Bame day ed him down twice for the count of Medley. with a full complement and sighted nine. In every round Hamas was

Daio da Costa. the Asia the following morning punished severely. He was com Vocal Duct-Moon Glow, standing a few miles away. The at eight o'clock, with the Apocy pletely outclassed.

Layton and Johnstone. Aala had a list of 20 degrees to badly under the eye, his mouth and

Finally, covered with blood, cut Violin Solo-Song of Paradigd. port. lle sent

Albert Sandler. Mr. Blackwell, on board with gered about the ring. The referee Songs by your example.

the Chief Officer, nose bleeding profusely, he stag-Songs Dancing on the Ceiling. party and at 1.15. p.m... began intervened and saved him further Piano towing her towards longlong battering-Reuter the Apocy having steamed off after lending the Shun Chih a towing rope.

There was nobody anchors and only part of on board the Asia: no papers, no the engines.

and because of the fear on the part

of foreigners that some of the

gold countries would net longer be able maintain their present some- what precarious position. With-

forly per cent. gold note backing, instead of the present national bank notes, which are backed by 100 per cent, bonda.

It is worthy of note that the

PERJURY CHARGE

Clinton, NJ., March 10.

The authorities would discluse no details of the case, nor the name of the

involved.—United witness

out a statement from the United The oflice of the State Prosecutor States, however, European coun- here has announced that one of the tries, Including the sterling bloc, witnesses in the Hauptmann case are naturally hesitant to discuss must face the Grand Jury on a exchange stabilisation, although charge of perjury. there in a general agreement that the question is of profound Im portance to the world.

"Gold supplies of most countries Press.. are larger than they were in 1913 the problem of recovery might be and 1929 and are adequate to solved for businessmen, markot permit a restoration of the gold operators and bankers, if they could standard, the letter said.

get a satisfactory answer to the With stabilisation on the basis question. "What is going to become suggested (a 70 per cent. increase of the dollar?" In the value of gold), danger of They pointed out that if the hoarding would have passed and answer meant degradation of the freedom of movement of gold in dollar, there would be no recovery, all the important countries except except for speculators, who always Germany could be restored.-profit at wild inflation. United Press.

WHAT IS FATE

OF DOLLAR?

New York, Mar. 10. Members of the New York Stock Exchange to-day pointed out that

However, if some way could be found to tell accurately where the dollar was going to be next year, much could be done to restore the confidence necessary to re-open the capital market.—United Press.

DAY BY DAY NEWS IN BRIEF

MANKIND, IN THE GROSS, 18 A GAPING MONSTER, THAT LOVES TO BE DECEIVED, AND HAS SELDOM TEEN DISAPPOINTED.—Mackenzie.

One case each of Diphtheria, Ty- phoid Fever, and Meningitis, were reported to the local Henith authori ties on Friday.

At to-morrow's, meeting; of the The Empress of Britain, now on Rotary Club the speaker will be Mr. a world cruise, arrived at Batavin, C. Macnamara, and his subject yesterday, and is due in Hongkong "Law and its Prophets."

at 6 am, on March 23,

ran into thick fog and a moderate During the return voyage they gale, ond going was made more difficult by reason of the Asia being about twice the size of the Shun Chih. There was a strong

others

they were making only three or four knots. They arrived in har bour about 7.30 on the morning of January 15 and the Asia was: then handed over to three launches which manoeuvred her to a buoy.

The tonnage and length of the Shun Chih and the Asia were res- pectively 1,173 and 2,240 tons, and 286 and 306 feet. Neither witness nor his men had

any sleep on the trip, as it was very rough, and after all hands, had been engaged in fixing the towing machinery, they had to stand by to slip the tow rope if it became. necessary to do so. The ship had only just returned from a foggy journey from Swataw, during which they had little rest, when they were ordered to pick up, the derelict.

HAZARDOUS TRIP. The salvage trip was 200 miles in extent and WAR rendered: hazardous by the weather. The officers had been told that they would be probably entitled to something personally for their work, but they had preferred to leave the matter in the handa of

Mr.

Lee Koon-chun rather than become parties to the action.

In reply to Mr. D'Almada, wit- ness said the Apocy was owned by the Wo Fat Shing. The Asia's Starboard ladder was down when they got there, but it was broken.

neas

Questioned by Mr. Jenkin, wit- agreed there were tugs available for such salvage opera- tions.

Witness was later recalled to testify that a

steel towing rope was bought for $477 for the A mah Jong sel stolen from No.avage of the Aala.

Mr. Lee Koon-chum, giving 43, Aberdeen Street resulted in an When he appeared before Mr. A. unemployed man, Liu Plu, 38, evidence, said he received a wire- W. G. H. Grantham at the Kowloon sent to prison for six weeks by less from the Apoey that she had Magistracy this morning, Mok Shing Mr. Wynne-Jones in the Central sighted the Asia and that a tugi WAB fined $5, or seven days' hurd Magistracy this morning. Sub would be desirable to bring her in. labour, by Mr. Grantham, for tres- Inspector O'Connor

Witness wireleased the Apoey to paasing in the Shamshuipo Military defendant was in the habit of visitingland by and despatched the Camp. Detective Sub-Inspector Poyntz complainant's husband, He was Shun Chih. The Shun Chih had stated that defendant went into the arrested in Wing Lok Street carrying on board a cargo valued at $20.- football ground with several other the set.

000 whilst the ship herself was men, and when they were chased off, they threw stones at the sollers. Brought before Mr. Wynne-Jones

valued at $250,000. She was five at the Central Police Court this days behind her schedule for morning charged with the theft of a Swatow and another ship had While sacks f vegetables were woollon jersey from being unloaded

the San Nga had to replace her on the run. at the ring On Haberdashery shop, Chan Chal, 40, Wharf, a

Witness agreed that the Apocy Chinese was seen to rip unemployed man, was sent to prison was chartered for $9,500 a month open one of the sacks and run off for six weeks on pleading gulity, and, by agreement, profits from with three picces of preserved Similar sentence was also meted out such salvage operations as this vegetables, llo WAB chased and caught in Des Voeux Road Central. to Ilo King 38, for stealing a woollen were to be divided between the

jersey from No. 3 Jubileo Street,

owners and the charterers,

Cross-examined by Mr. Jenkin, Mick Man, aged 20. a coppersmith, witness agreed that he could have obtained a tug but "sometimes

The man, Wong Kwong, 23, coolle, where he lived. was charged before Mr. Wynne Jones this morning and sent to prl-

son for one month with hard labour, was brought before Mr. Grantham they charge enormous prices" and Sergeant Smith prosecuted.

Kowloon Magistracy this morning there would have been nobody to charged with the larceny by servant The Hongkong Stock Exchango of tw Ingots of phosphor bronze pay

the tug for has received a cable from

if the Balvage Messrn. from the Kowloon-Canton Railway had been unsuccessful. Witness Derrick & Co., local Secretaries in work shop at Hunghom, on Saturday, would have had to make a Singapore of the Raub Australian Sergeant Nolan stated that defendant osit, and he did not wish to take Gold Mining Co., Ltd., as follows was acon trying to dispose of the the

The Raub Board of

risk. Witncas said the In- Directors stolen property about 2 p.m. on

de

have decided accedo. suggestion made Saturday, Tho defendant had been surance company had asked for} by General Manager J, C. Caldham employed at the rallway workshop and obtained ди additional and have taken steps to secure the for the four years and received $1,40 premium of $600 for going out on services of reliable Mining Engineer a day. The stolen property was the salvage trip. to proceed to mino and Issue to valued at $10.80. Sentence of two The hearing was adjourned to directors an independent report.” months' hard labour was passed.

this afternoon.

Schmoling lost his title to Jack Sharkey in 1938, and Sharkey lost the championship shortly after- wards when the Man Mountain. Carnera, met him. Carnera was beaten by Max Baer, the Califorian,

fended his title against an opponent last year, and Baer has not yet de- who was given more than an off chance. Schmeling, boxing circles believe, Is the logical challenger for feated him in a non-title fight some- Baer's crown though Bner de-

time ago.

SHARE PRICES

The following is the list of local sharm quotations issued to-day- Banks

H.K. Banks, $1320 b and sn. H.K, Banks (Lon. Reg.), £129

Chartered Bank, £15. Mercantile Bank, A. and B.

£81 n.

.

Marcantile Bank C., £131⁄2 n. Enst of Asin Bank, $861⁄2 1. Am: O. Finance Corp., 8h. 420 .. China O. Fin. Ord. Sh. $1.80 . China O. Fin. Prof. Sh. 343

Insurances. Canton Ina., $260 1. Union Ins., $415 b. China Underwriters, $1.50 n. China Fire. $490 n. II.K. Fire Ins., $225 b. Internat'l Assce. Sh. $5.00 . Shipping. Douglas. $30 b. H.K. Steamboats, $74 n.

Indo-Chinna, (Pref.), 90 Indo-Chinna, (Def.), $33 n. Shell (Bearer), 49/4 n. Union Waterboats, $121⁄2 n.

Mining. Antamoks. 88 cts. n. Balatoca $49 n. Baguio Gold, 30 cts. n. Benguet Consolidated $14 n. Benguet Exp. 16 cts. n. Benguet Goldfield, 10 cts, n. Big Wedge, 10 cts. n. Gold Creek, 381⁄2 eta, n. Gold River 17% els, n. Ipo Mung, $1 n. Itogona, 42 cta, n. Balneot, 16 ets, n. Kailan, 17/n,

Langkats (Single), $10 n. S'hal Explorations, Sh. $5 n. S'hai Loans, Sh. 80 n. Rubs, 85 n,

Vena: Goldfold, 6 .

Docks, etc.

H.K. Wharves, $1011⁄2 cum. rts.

n.

II.K. Docke, $10 . Providents (old). $1.20 m. Providerts (new), 20 cts, n. Hongkaws (old), Sh. $300 n. Now Engineerings, Sh. $5.60 8. Shanghai Docks, Sh. $120 n. H.K. Wharves Rights $20 n. H.K. Wharves ex. rts, 09 n.

Cotton Mills.

Ewo Cottons, Sh. $8.70 s. S'hal Cottons, (old), Sh. $74 n. S'hai Cottons, (new), Sh. $46

Jiv

Zoong Sings, $9.80 i Wing On Textilos. Sh. 855 .. Lande, Hotels, etc.

Bn.

H. and S. Hotola, 1.80 8. II.K. Lands 4 debenturer, H.K.

$102.

Shal' Lands, Sh. $22 n. Metropolitan Lands, Sh. $12.20 n. Humphreys, $0

Hongkong Roalties $5.10 n. Asia Realtics "A" Sh. $100 n. Asia Realtics "B" Sh. $17 n. Chinese Estates, $93 n. China Reattles, Sh. $0.60 n. China Debenture, $123 n.

Public Utilitiem.

H.K. Tramways, $18 b. and sa.

Duets-Nymph Errant-Solec- Jensio Matthews (Soprano).

Piano Duota-There's a ring around

tion.

the moon. Carroll Gibbons and John W. Green, Song-I want to be a Nudist.

Eddie Pola (Comedian). Vocal GemsThe Vagabond King

Light Opera Company. and Quolations,

9.30 p.m. Press Bulletins, Stock

9.33-10 p.m. Debroy Somers Hand. Ballads wa Love Selection. (arr.

Debroy Somer*),

Carmen Caprice (Bizet, arr. Debroy

Somers), Faust Frolics (Grouned, arr. Debroy

Somers),

The Open Rand-A Hiking Medley

(arr. Debroy Somera).

10 p.m. Clono Down.

n.

Peak Trams (oh), $8 Peak Trama (new), $6 n. Star Ferries, $89 n.

Yaumati Ferries, (old), $22 n. China Lights, $9.90.b.

11. Electrics, $6934. Macao Electrice, $25 n. Sandakan Lights, $8 n. Telophone (old), $24% an Telephone (new), $10.15 n. China Buses. Sh. $12.40 n. Singapore Tractions, 10/3 n. Singapore Pref. 20/6 n.

Industriala

Malabon Sugars, $8.50 n.. Cald: Maeg. (old), Sh. $16 n. Cald: Macg. (Pref.) Sh. $16 D. Canton Ices, $2.76 n. Cement (Converted) 7/50 n. H. K. Ropes, $3.80 n..

StoreA

Dairy Farms, $22 sa. Watson, $3 n. Lane Crawfords, $8.75 n. Mackintoshs, $21 n. Sinceres, $8 n.

Wm. Powells, 70 cts, n. Wing On (H.K.) $105 n.

Miscellaneous.

Amusements, $1.85 . H.K. Entertainments. $7. S. C. Enterprise, $1.85 n. Macao "Greyhounds," 12 a.

Constructions (old), $1.70 n. Construction (new), 50 cts, n. Vibor Piling, $5.

Ch. Govt 6% 1925 G.$ Bonds

93% n.

II.K. Gov, 4% Loan 6% prem.

b.

H.K Govt. 3% Loan 2% prem. b.

and an.

Wallace Harpers 7 n.

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