1935-03-21 — Page 1

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FIRST EDITION

The

Court

Hongkong Telegraph

-FOUNDED U881

No, 14046

ITALY'S FINANCES

IMPROVE

EXPENDITURE CUTS ALLOW SAVING

REVENUE DECLINE NOW

FULLY CHECKED

(SPECIAL TO "TELEGRAPH")

Rome, Mar. 20.

四拜體:

EX&* THURSDAY, MARCH 21, 1935.

日七十月二

While the nations of Europe, particularly those

Sir Malcolm Campbell yesterday carried out further speed tesla at Daytona Beach, shown in above picture. If the condition of the beach, does not improve, he may pack his car to-day, lust are

Sir Malcolm and Lady Campbel.

which have endeavoured to maintain the gold standard India's Problem

in spite of dwinding trade, are struggling to balance their budgets, Italy, through a series of economies, has reached a position from which she can look about her. almost with complacency. Her finances to-day are very sound.

Increase in receipts during the current fiscal year. have resulted in an estimated 1935-36 budget totalling 19,645,000,000 lire, or 991,000,000 lire less than for the present year.

The estimated deficit for the year 1935-36, which opena next July 1, is placed at 1,667,000,000 lire accord- ing to the Association of Italian Corporations.

NANKING APPROVES

BIG LOAN

MONEY TO ASSIST INDUSTRY

EXPORT TRADE BURDENS

1

Nanking, Mar. 20.

Political Council resolution

The Central to-day approved

The reduction in the anticipat- od deficit for the coming year is based on sharply reduced expondi- tures in addition to mounting re- venues.

a

Soluble

RIGHTS OF PRINCES RECOGNISED

SIR S. HOARE'S POLICY

London, Mar. 20,

The attitude of the Indian Princes towards the Government

CAMPBELL MAY QUIT DAYTONA

UNLESS BEACH IMPROVES

MAKES TEST SPINS

Daytona, March 20.

Sir Male Im Campbell, al-

to a satisfactory and desired re-greater acceleration in second gear, Both experiments were satis-

τ

The documents reproduced in factory, he said after the run. the White Paper showed thero-Reuter. Were about thirty points upon

Grand National Acceptors

HORSES AND JOCKEYS FOR GREAT RACE

London, March 20. Final acceptors, and jockeys, for the Grand National on March 29. were announced to-day 08 follows:

Golden Miller (Wilson) Thomond II (Speck) Royal Ransom Reynoldstown (Mr. Furlong) Delaneige (Miloney) Southern Hero (Fawcus) Brionz (Kidney)

Really True (Morgan) Bachelor Prince (O'Grady) Castle Irwell (Mr. Bestwick) Allybrack (Mr. Twoedio)

KINGLI OOPS

AIR MAIL MOVIE STATIONERY WRITING PADS

100 SHEETS

Specially manufactured to meet the demand

Smooth finish; each sheet water marked

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PHITEAWAY, LAIDLAW & CO., LTD,

FRANCE'S APPEAL

ANTICIPATED

ONLY COMPLICATES EUROPEAN TANGLE

LATVIA IN PANIC OVER GERMAN RE-ARMING

1894.

(Dy Telegraph. Copyright, Telegraphic Messages Ordinance,

Received, March 21, 0.30 am.):

Berlin, Mar. 20. France's decision to appeal to the League of Na- tions as a result of Germany's announcement that she will re-arm and conscript a new army, has caused no great surprise in Berlin.

An official spokesman to-day stated that the Ger- man Government considers that the decision upon this. line of action will merely serve to complicate the situa- tion.

It is learned that the United States is maintaining a strict silence and reticence is observed on the part of President Roosevelt with respect to the likelihood of sending a Note to Germany, as Britain and France have already done, says a Reuter message from Washington.

President Roosevelt is very re- ticent about his policy with, respect to the European altuation and will not discuss his intentions, nor

whether or not he will send a Note

to Berlin, as have Britain and

Aloxena (Capt. Payge-Gallwey) France, in regard to the violation

Blue Prince (Parvin) Brave Cry (Mr. Lewis) Emancipator (Mr, Carajet) Fouquet

Huichollon (Ward) Jimmy James (Nicholson) Lazy Boate

Master Orange (Mr. Beloe) Princess Mir (Mr: Jackson) Red Park (Fitzgerald) Slater (Maxwell) Southern Hue (Duggan), Tapinois (Gurney) Trocadero (Cullinan) Theresa (Owen) Uncle Batt (Robson)

of India Blil was discussed in the though determined to reach a Ilouse of Commons in the light of speed of 300 miles per hour, Three major decreases in ex-

the White Paper published Tues- penditurce account for most of day last, in which the criticisms after a trial spin in the giant the savings and include 917,000,- of the Princes and the Secretary racing car, Bluebird, to-day, 000 lire on the debt conversion, for India's comments thereon were announced that unless the condi- tion of the beach showed signa 485,700,000

civil service set out.

of improping he would crate the salaries and 402,000,000 on departe. Formidable as those criticisins car for shipping to-morrow. mental expenditures.

The steady reduction of the might look at first sight, said Sir

He twike traversed the measur budget deficit during the first Samuel Hoare, they were, he bc- months of the current fiscal yearlieved, adjustable; and in support hour on the northward run and ed mile, reaching 200 miles on of this he cited the opinion ex 110 miles an hour on the south- (at the end of December it stood at 1,074,700,000 lire as against

pressed in correspondence by the word run: The timing apparatus 2,307,000,000 at the corresponding Princes themselves that "it is still was not used, for his spins were date of 1933, a decline of over

not beyond the sphere of states- not attempts at a record but only 60 por cent) shows the steady manship to adjust our differences for the purpose of testing a new progress being made towards in such a manner as would lead carburetor and a setting to enable balanced budget.

Studies of the Italian budget | sult". show that, in 1931-32

govern- mental expenditures rose to the authorising the issue of a series of highest figures so far recorded loan bonds to the total amount of which was 23.1091,000,000 lire. $100,000,000.

Depression and a relnimum wore Another important resolution chiefly responsible for this budget, About one-third were due simply challenger in his particular sphere

to a misunderstanding. Of the of sport. He reigns supreme. year the adopted by the Counell to-day was During that fiscal

other two-thirds the great majority have tried to qual or better HUMANITY that the Ministry of Finance be average monthly Index for

were either points where drafting empowered to exercise its discretion dustrial production, based on 100

was not quite clear or where draft- his performance, but they have in relieving the burden of taxation, for 1928, fell to 72.09.

never approached it. Most of During the current financial ing could be readjusted without them have died in the attempt. and customs rates imposed on year not only has the decline in any sacrifice of any substantial

It was on March 7 that he shat- revenue been checked, but revenue principle in the B11 All except In explaining the objects of the receipts in the first five months two points ought to be capable of tered his own records across the Daytona Hands. He travelled a two resolutions adopted by the are 348,800,000 liro higher than comparatively, easy adjustment. milo in 12.81 seconds, Twenty Central Political Council to press-for the corresponding period of men, Dr. H. H. Kung, Finance, 1933. Minister, declared that the ultimato Financial experts have-pointed object was to bring prosperity back out that the full results of some to trade and industry In China. of the measures taken to improve revenue will only make themselves He said that 66 per cent. of the felt in the closing months of the proceeds derived from the $100,- present fiscal year--United Press. 000,000 loan would be placed at the disposal of three leading Chinese Banks, and would be apportioned as follows:

exports.

.

The Central Bank of China, $30,000,000;

The Bank of Communications, $10,000,000;

in

JAPAN'S TRADE ENDANGERED

EFFECT OF LEAVING LEAGUE

which the Princes felt doubt.

PARAMOUNTCY

́NO CHALLENGER Sir Malcolm. Campbell has to

A

London Silver Trading

--Reuter.

DIVORCED FROM WAR

MAN'S MENTALITY CHANGING

JAPANESE VIEWS

slogan "My Country is right: yours

of the Treaty of Versailles,

It is not probable that an American observer will be sent to the forthcoming conference be tween the former War allies, Great Britain, France and Italy, which will assemble in Paris on Satur day.

On Monday the British and Gor- man representatives will moet in Berlin to discuss plans for Euro- poan security.

The Faria conference may vitally affect those later conversational Reuter Special.

ATMOSPHERE OF-PANIC-

Riga, March 20, An atmosphere of panic has been caused here. by Germany's

decision to re-armi

INCREASE

IN FRENCH AIR POWER

SUPPLEMENTARY SUM SOUGHT.

RENOVATING · FORCES

Paris, March 20,

The French Government is asking credits of 1;600,000,000, francs for the renovation and overhauling of the military air

arm.

It is necessary that the Bill bo introduced immediately according to a statement of the Air Minister, General Denain.

Special attention will be paid to bombing planes.

This new credit will be supple- mentary to the normal budget re-

It is believed throughout Latvia cause of that the underlying Germany's decision is the Soviet action in arresting over 1,100 former aristocrats in Leningrad.

Those arrested Includo forty-two quirements, voted last November. former princes, thirty-three. cl-Router.. devant counts,. seventy-five Czarist barons and 660 former generals and other high officers of the old Rusalan armies.

B

Many of these have been charged with coplonage in Russia on behalf of

foreign power OF powers, and some have already been sent to Siberia, Reuter Special

air;

PARIS DISCUSSION

New Duties On Steel Imports

BRITAIN PROTECTS HER PRODUCERS

He had always admitted that the years ago men marvelled to see a accession of the Princes into the car travel a mile in 60 seconds. Federation was difficult and com- Ho attained a top speed for the plicated. His advisers, however, mile of 281.03 miles per hour. had been in close consultation with Hia average time for the south-i the legal advisers of Indian States, ward and northern dashes over The views of all parties had been the measured mile was 276.816- discussed in detail and discussion miles per hour, compared with had not revealed any differences the record established by him two Blue-

New York, March 20. which appeared to be incapable of years previous in his old

The gradual shifting of man's adjustment.

bird, 272:108 miles per hour.

Incidentally, over the measured mentality in favour of peace, five miles of sandy track. Sir Malcolm maintained a speed of was the subject of a speech by

London Mar. 20. Regarding misunderstanding on 251.396 miles an hour. Bu he was Mr. H. Saito, the Japanese

Discussion between representa-

(Special to "Telegraph")." Ambassador, at a banquet of the the question of paramountcy, it slowing down then.

tives of the French, British and The Bank of China, $25,000,000, {

was not the case that the Bill could

London, Mar. 20, It will be recalled that he al-Japan Society to-night.

Increased customs duties, rang- On securing such financial sup-

Tokyo, Mar. 18. not be proceeded with until the most lost his life in thess races The reasons for this trend, he Italian Governments will, at the port these three banks will be 'in

Japanese trading circles are Princes claims on

realisation of the suggestion of the British, take ing from £2 to 4 per ton, or in this subject with time when he drove into said, was the

at Paris Saturday. Mr. some cases thirty-three and a a position to freely extend credit visibly concerned over the prob- were settled. The Princes were loose sand, but with his usual iron futility of war and the growing place aids to financially embarrassed able adverse effects which Japan's not being asked here and now to control he righted the big car and prevalence of justice in interna Anthony Eden will represent the third per cent an valorem, which- Industries and businesses.

withdrawal from the League of accede. Parliament was passing escaped disaster. The object of the second resolu- Nations will have on hor export the best Bill it could and wan tion, Dr. Kung continued, was to business with mandated territories taking into account as fully as encourage export trade, as the in Africa and Asla Minor, a aur- | possible, all the various interesta rapid growth of China's unfavour-vey

revealed

to-day. "Japan's | British and Indian, those of the able trade balance, in addition to relations with the League will Indian states and those of Britain the American allver purchase formally be severed March 27. and of Empire. The Princes had polley, were the main causes ac- Affected by Japan'a change in always claimed they could give no counting for the present economic status, from a League member to final answer as to their accession depression in Chinn-Central an outsider, will be her trade re-

until the Bill was on the Statuto News.

lations with the French mandates

Book. If they accaded there of Syria, the Cameroons and

would be Federation. If not there Togoland, exporters here said. Administrations of these Franch would be no Federation.

So far from worsening the mandated territories impose dis-Princes position In regard to reduction or abolition of transit criminatory tariff duties upon paramountcy, however, the B dutica imposed on nativò goods, the imports from non-member, coun- would make it better, but that

London, Mar. 20, the

that It is officially announced Issued an erder exempting the to League members.

dealt with in' a normal way in dealings in fine silver will commence native made cords and ropes from Similarly, Iraq, although an in- India. It affected all the Princos, an the Metal Exchange on May 1. any such levy-Central News.dependent kingdom, after Britain whether they federated ·or 'not, The hours of trading, from Mon- should be such. And it would be in will therefore be to carry a stage gave up her mandato in 1980, and whether the Bill was passed day to Friday, will be from 1.20 to the interests of the whole world if further consultation on all matters tronts League members on "the or not. But if British India was 1.25 pm and from 8.45 to 4.15 the Japanese could do anything to referred to in the Anglo-French most-favoured-nation" basis to the over to achieve its full status in p.m.; and on Saturdays trading assist China to stablileo condi- communique of February 3. Berlin

conversations will extend over Mon- (Special to "Talagraph”). DISASTROUS FINE

exclusion of non-members.

the British Empire an All-India will be from 11.30 am to 11.45.a.m. tions in that country.

"London, Mar. 201 While British mandated terri- Federation was essential, with Dealings will be for prompt de- The stabilisation of China would day and Tuesday of next week.

Oxford's crack crew rowed Nanking, Mar. 21.

torles do not discriminate speci- Princes, for all time, having that livery, up to three months, with not only benefit the Chinese people. At their conclusion Sir John Simon A big fire occurred at Pukow, fically between League members share in the Government of a daily clearings as for tin and cop-but would facilitate and encourage will return to London and Mr. Eden first full course trial to-day? opposite Nanking, late last night, and outsiders, Great Britain has continent to which they wore per.

American and European commercial will proceed to Moscow, where he la Putney to Mortlake, Inve razing no less than 700 houses. already imposed restrictions on entitled, He believed the differ Warrants will be issued by and financial activities in China, due to arrive early on March 28. conditions,The time Damage done to property is very the Japanese Importe of cotton onces at issue could be honourably Messrs. N., M. Rothschild for lots which would be satisfactory to He will leave Moscow March 31, for minutes 82 seconds heavy," but no casualties bavo been cloth and rayon good to Tangan- adjusted in full harmony of 5,000 ounces at three per cent. overseas investors and to Chinese for Warsaw and according to pre-garded anka

allike.-Router...

(Continued on Page T.) reported as yet-Central News, yika-Rengo.

more or less Router. British Wireless,

TRANSIT DUTY LIFTED

Nanking, Mar. 21. As a first step toward a general

double are

the rates

granted

DEALINGS COMMENCE ON MAY 1

British Government at these con- tional affairs.

ever amount is greater, are to be Equestrian statues of great com-versations and Italy will be repro- levied on certain iron and steel manders had given way to monu-sented by Signor Suvitch.

angles, girders, beams and rails. ments to unknown soldiers, and the At their conclusion, Mr. Eden products, including billets, bars,

will

probably return to London by

The duties become effective from March 20, on the recommendation must be wrong," was no longer ac-

On Sunday Mr. Eden will accom of the Import Duties Advisory cepted, at least not by self-respect-pany the Foreign Secretary, Sir Committee, which states that im- Ing' minds.

John Simon, on a visit to Berlin in ports of iron and steel which had There seemed to be a race be fulfilment of the invitation extended previously progressively diminish- tween peace and war. He had no by the German Government oned, rose last year by 41 por cont doubts, he said, with regard to the February 24, This invitation was compared with previous year." outcome. He could see no danger repeated in response to an inquiry. Reiter Special. elther across the Atlantic or the in the British Note on Monday, as Pacific..

to whether the scope and purposes In Asin, the time for a rap of the Berlin conversations remain- prochement between Japan, and ed unaltered despite the German China had arrived, apparently decision to adopt conscription and Japan and China ought to be good to increase the peace baale of the friends, he went on. It was to German Army..

The object of the conversations their own best interests that they

OXFORD CREW IN FORM

GOOD TIME MADE OVER COURSE