THE HONGKONG
TELEGRAPH.
Rumours Of WATSON'S ANNUAL AMERICA'S
Stabilisation
MEETING
In Hongkong ADVERSE EFFECT OF
OFFICIAL DECLINES
TO COMMENT
S'HAI MARKET
AFFECTED
The steady rise in the sterling value of the Hongkong dollar has given rise to rumours of the poss Albility of Government action along the lines either of stabilian tion OR Home other form managing the currency.
rumours.
ket.
SEEK TO PLACATE GERMANY
of
COOL SUMMER
A decrease in profita during the past year of more than fifty per cent., accounted for mainly by the exceptionally cool and wet Rummer, WHA reported at the annual general meeting of shares, holders of Messrs. A. S. Watson. and Co., Ltd., held in the Jacobean Room of the Hongkong Hotel this morning.
BURDEN OF DEBT
DEFICIT ESTIMATE MUCH REDUCED
r
NATION OWES
28 BILLIONS
Washington,. Apr. 15.
TUESDAY,
SILVER JUBILEE CELEBRATION
FIREWORK - DISPLAY DETAILS
REQUEST REGARDING
ILLUMINATIONS
A fireworks display wilt com- mence at 9.30 pm, and continue until after 11 p.m.
fention is to let off fireworks from The Japanese cominunity's in- theme point at the same time,
Max 7.
APRIL 16, 1935.
RADIO BROADCAST
A Relay from Majestic Ballroom
JAZZ RECITAL
From ZBW on a wavelength of 356 metres (810 kilocycles):
4-7 p.m. Chinese Programme, 7-11 pm European Programme. tlons."
7 p.m. Closing Local Stock Quota
7.01-7:00 pain. Band Selections from Operas. Prince Igur (Borndin)--Ballet Dances Nos. 1, 2, 3 and 4.
Aidn--Grand Match and Finale All-Introduction and Moorish
Ballet (Verdi),
Faust-Selection (Gounod):
(Verdi).
7.30-8 p.m. From the Studio.
"The Continental Trio." Programme.
1. Pinna.
Jane in January.
3.
Pinno Selo,
4.
Blue Feeling.
With Every breath take,
Piano Solo.
7.
8.
Stay sweet as you are. Sweet Sue. Rp.m.
Report.
Local Time and Weather
K03-8,30 pan. Vocal Itemns, Nippy-A Couple of fine old Schools, Gifford Mollison and Arthur Riscor NippyWhile We're in love,
Arthur Riscoe and Betty Shale. Gracie Fields-Medley. Huten Medley
tirazie Fields (Comedienne).
Ilie Hutchinson nt the Pino. The Old School Tie.
The Western Brothers. 8.30.8.55 pm, Symphony No. 4 ("Talina") in. A Major (Mendelssohn).
In connection with the Colony's Silver Jubilee eclubrations, the) Mr. Henry Morgenthau, Secre-following arrangements have been Mr. D. E. Clark presided, and tary of the Treasury, in a wireless made by the Fireworks Committee there were also present Messrs. broadcast speech to-night, defended for May 6: A. B. Stewart and M. H. Turner the Government's financial policies (Directora), Mr. J. A. Tarrant and declared the although the Pub (Sereetary), Messrs. C. B. Brown,lie Debt of the Nation had increased In this connection, there is talk J. D. Humphreys, Peter Wong, Lee since the of a possible embargo on silver Wai-cheung, J. L. Quie, Wong Klation came into office from slightly piece ("God Save the King"
Roosevelt Administra The fireworks consist of:-A set exports, or of legislation relieving tsoi, W. S. Balles, to Chung-wan. less than $21,000,000,000 to $28,- rockets, star-rockets, rising moons, note-issuing banks of the oblign-W. Patterson and F. W. Stapleton | 000,000,000 on March 31 the annual flower pagoda, large fountain, re- tion to pay out, silver against (shareholders), notes. At the moment, however,
interest payments, through. refund-volving wheels, dead shooters, etc. thoro acoms little ground for these
DECREASED PROFIT
Ings, have been reduced to $800,- etc. 400,000. Moving the adoption of the re- Mr. Morgenthau further said: They will be set off from the The Colonial Treasurer, when port and accounts, the Chairman "We are carrying the greatest Nation in the harbour of A.1. interviewed by a Telegraph roure-sald: Gentlemen. The report Lional Debt in our history for dessus, near which special moorings sentative, declined to make any and statement of accounts and money that it cast back in 1925 are being laid by permission statement on the subject, remark Auditors report having been inhen
of the Harbour Master for two' the National Debt
6. was fighters, from the decks of which ing that no Government would your hands for the past nine days smaller by $8,000,000,000," think of giving advance Informa-1 propose with your approval do
the fireworks will be let off, tin regarding such a matter.
Mr. Morgenthau said that Gov- take them as rend. The result ofrnment expenditures for the two centre of the Harbor, opposite The pastion is almost in the The rumoura have renched the year's trading shows a netcars ending June 30, would be Statue Square, and almost midway Shanghai, whore fley are having profit of $34,865,19, as against $2,000,000,000 less than originallyween Hongkong and Kowloon, seme effect on the exchange mar-$65.902.74. for the previous year.estimated in Frealdent Roosevelt's which, it is hoped, will enable This disappointing result was first Budget Message in January, the display to he seen from boll: brought about mainly, by the ex-1934. President Roosevelt hades. ceptionally ruol and wet summerfestimated a deficit of $9,300,000,000 expertenced. The output of our for the two years, whereas for the A. W. Factories, hore and in fest, twenty-one months the deficit Canton
considerably 144
lens was $6,300,000,000. The Governo than that of the previous yearment is certain that expenditures Contianed from Page 1)
although during the two brief for the two years will be $2,000,- spells of really but weather ex-1000 less than the original estimati the French Porriga Maister, perinuced in July and September) Mr. Morgenthau declared that made a statement to-day,
both Factorles were working at these expenditures, which are "reat Bringing knowledge to the other high pressure. From figures sup- * loss, or waste", included loans interested Government of the de plied by the Royal Observatory totalling $1,700,000,000 from the sire of the above three
find that from April to September pbtain modification of the arma tour busy season) nearly 20 luches inent clauses in theli respective | more rain were recorded as com- pence treaties, said M. Laval, the ! pored with the normal rainfall for powers represented at Stresa had the same months for the period absinined from expressing any
1899-1999 and also for the same opinion regarding the substance tried there were 130 hours less of this desire, but had explicitly sunshine. As you will readily reserved this appreciation for the understand sales of soft drinks Government more directly con-depent very largely on weather cerned, with whom must lie the conditions and d timount of full responsibility for the coming energy spent with a view to in-
Ranter. derision in the matter.
crease sales is of use if these con- ---- ditions are unfavourable.
Numerous economies have been make and I now beg to propose made and although the year under that the report and statement of review did not benefit to any exund that the allocation of profits accounts as presented be adopted lent, the present year's accounts should feel the full effect of these, 29 Picommended be passed, names ly:-To pay a dividend of ro DIVIDEND MAINTAINED cents a share aburbing, $45,000; Taking all things into considera- $1,600; write down value of Sun write off Building Improvements, tion your Hourd decided to re-dry Stocks on account of the ap comment the payment of the same preciation of Sterling Exchange, dividend as the preceding year, $25,000; and Carry forward to next vix 3 per cent, and they trust this count, $53.812.45; total $121,- together with the proposed trans: 412.45. for of $25.000 for the purposes of
states to
AVOIDING DECISION He added that the object of the powers at Stresa was precisely to Avoid any solution of the ques tion and issue, other than a con- tractual one.
It is understood the declaration gives the Ententes complete satin- faction, as it has practically made them arbiters of the question at fasue, though it was earlier stated at Belgrade that the Yugo-Slavian Government was adopting a most reserved attitude and cannot un- derstand why the great Powers proposed to tolerate the demands of Austria, Hungary and Bulgaria when they were intolerant of similar demands from Germinay. -Reuter.
BOYCOTT NOW. ON WANE
Con,
|
Com-
- ILLUMINATIONS On May 6 and 7, from 8 p.m. onwards, Statue Square, the water front from the Hongkong Club to the Post Office, the waterfront at Kowloon from the Hongkong and Reconstruction Finance Corporation Kowloon Whart and Godown C and other Agencies, substantial re-pany's promises to Holt's timilowus, payments of which are expected. | and several public buildings, will This would reduce the Public Debt. Las lluminated ly the Silver There expenditures also included Jalabon Committee. the sum of $1,200,000,000 for direct The Silver Jubile Committee relief purposes.
hope That
householder. Secretary Morgenthan added that shipholder, hotel, hong, ele, will the average interest rate on all laminate their houers and pre-| standing was only 2.86 per cent.and that in any event everyone Government securities now out-mises on the evenings in question
will display at least on lantern.
BRITAIN'S SOUND
every
· FINANCING
(Continued from Page 1)
Treasury bonds and £11,000,000 redemption in the previous Decem three gier cent, bonds drawn for ber. To provide for thoac matar- ing, and to give a small margin for reduction of the floating debt, nu raised in April £150,000,000 by issue of three per cent. funding After this has been seconded foun, and in December took advan- writing down the value of sundry shall be pleased to answer ques-tage of continued cleay money to stocks owing to the appreciation tions in connection in sterling exchange will
With The give notice to draw for redemption meet accounts, to the best of my ability. one-half, namely £44,000,000 of the with your approval. In this con- nection would remind you that the motion was carried.
Mr. W. S. Bailey seconded, and remaining threo per cent. Treasury Bonds. Since then, at the close of the Company's
£11,000,000 had already been pur- financial year, 31st. Dctober, 1931,
chased out exchanger was 14. 7%.
of Sinking Fund money, so that the redemption of
sterling.
to appear
OTHER BUSINESS
run-
of the Japanese consular con- spite of the present trade, de- On the motion of Mr. J. D.
031
ference held at Shanghai and expression, this Company will show Humphreys, seconded by Mr. J. pressed satisfaction that anti- fair return Japanese boycott agitation in invested.
the capital. Quis, Messrs, C. B. Brown and China was definitely on the wane.
I have no further remarks to auditors,
He hoped that attention would given by the Chinese
S. T. Butlin
were re-elected
by
1
Sir Hamilton Harty and the Halle Orchestra.
Arther de Circet, 8.57-9,10 p.tn. A Pinnoforte Recital
Wedding Day (Greg). Ariette: To the Spring (Grieg). Feale D'Album: Pallon
(Grleg).
9.10-0.30 pm. From the Studio, Selections by the Waikiki Trio."
Programme.
1. Sunkist Hawali.
2
Lilin Li,
3.
Paaunu Woltz.
4.
Hi March.
Bright Moonlight,
9:30-10p.m. Talkie Tunes, Orchestra-Happy. I'm Happs
("Caravan").
Orchestra-Wine Song ("Caravan"}," Songs-Near and yet so far ("Princess Charming"). Songa-Brave Hearts ("Princess
Charming")
Evelyn Laye (Soprano). Fox Trois-Song of the Dreamer
("Marie Galanto"). Vocul Duet-foon Glow ("Black- Fox Trots-Os the good ship lollipop
("Bright Eyes").
birds of 1934").
Piano Duets-Goodnight Vienen-
Layton and Johnstone.
Medley.
Piano Dueta-Sunshine Susir-
Medley. Raivio Costa and Harry Jacobson:" 10 p.m. Reuter Press Bulletins. 10.05-1 p.m. Dance Orchestra from the Majestic A Relay of the Ballroom (by courtesy of the Management).
10.30 p.m. Rugby Mid-day Presa Newa.
11 p.m. Close Down,
the remainder, which took place the year before, and he proposed today, would be curried out with- to transfer £4,170,000 from
the
be
叫
Epferring to the balance sheet The Chairman: The next busis you will note our indebtedness toss, gentlmen, is the election of the Bank is considerably reduced Directors. Since these accounita and that bills payable outstanding were published Mr. J. Scott Harsany disturbance of the market. Road Fund to the Exchequer. hre down $45,600.20.
The net effect of these transac This raised the surplus available Lon resigned from the Board onions had been a reduction in the to £11,025,000, This is JAPAN GRATIFIED;
partly due to smaller drawings his departure from the Colony, nominal amount of the National by London and also to the rise in Mr. M. H. Turner was invited to Delt by £21,750,000, and of annual £2,700,000 to the relief of Enter- ASKS GUARANTEE
He proposed. firstly, to allocate the dollar value against accept a seat on the Board. This interest charges by £1,650,000. Itainmnt Tax by remissions of the
[appointinent requires your Nanklag. April 15. Mr. Ariyoshi, Japanese Minister
On the assets side the only two Brmation and I propose that the The Exchange qualisation Ac-tax on cheaper seats, to make al Interations in Income Tax allow Lo China, who arrived here with his items which call for comment from appointment of Mr. Turner be out again showed a profit,
view of all circumstances, and ifances that would give rellef to party from Shanghai this morning. $65,908.61 less and sundry debtora
me are stocks in trade which are confirmed. called on Mr. Wang Ching-wel, $10.805.56 less.
Mr. C. B. Brown seconded, and interest raics on Treasury Bills Income tax payers at its bottom President of the Executive Yuan, i
remained at anything like the pre of the seale. At present, the feat this was agreed to. at his official residence this after have no wish
It is unwise to prophesy and 1 The Hon. Sir Shouson Chow and ebt, he felt justified in putting £175 of taxable income was charg Just year's ed at one-half the standard rate. too Mr. A. B. Stewart wire re-elected the debt charges at optimistic, but I do feel, gentle to the Directorate on the motion ought to leave something available taxable income should. now
figures of £22,000,000. That He proposed that the first £135 of The Japanese Minister in men, that, given a normal year as the Chairman second by Mr. formed Mr. Wang of the results regards weather conditions and in Peter Wong.
for dott redemption, but he charged at one-third of the tax- thought it advisable again to ask able rate, and over £135 at the full for power to borrow for purposes rate of 4s. Gd. The personal of the Sinking Fand.
allowance of the married taxpayer THE DEFENCE 'FORCES
would be raised, from £150 Turning to the Estimates, Mr. £170. The present allowance f Chamberlain said those for supply 240 for each child after the first services accounted for the
very would be raised to £50, Tormidable figure of £494,305,000,
Further liability for tux would and included £16,000,000 extra for be extinguished in respect of all eriency in the Army and Navy incomes, earned or unearned, un and for in increase in the strength der £125. In n-full year, there of the Air Force and an additional proposals would cost £10,000,000, elvil and social but in the current year only £4,- £11,500,000 for services.
The total ordinary, expenditure,
A further sum of £6,500,000. ¡ni including £235,580,000 for consola full year and of £4,500,000 in the idated fund services, was £729,- current year would be accounted Brought before Mr. Wynne-Jones at the Kowloon Police Court this 970,000, and he proceeded to indi- for by restoration to civil servants morning, Lei Lin, unemployed, admit- cato measures. whereby hound others of the remainder of the tol stealing an electric globe from a proposed to flrinco this cuts in salaries and allowances school on the second floor of 342 An unusual application, for the con- Shanghai Street and
enormous outlay. Ile estimated made during the crisis. This fiscation of 21 pigs, was nude by prison for alx weeks.
was sent to the yield from income tax would leave him with a prospective Revenue Officer Grinimitt before Mr.
at" £237,000,000, or. £14-surplus of £500,000.-British Wire- Schofield, at the Central Magistracy
000,000 more than in 1934, surtaxes. this morning. Mr. Grimmitt said the
The appearance of Kwong Hang, £51,500,000, death duties £80,000- nigs had arrived on the steamer Footed 30, a coolie, ut the Central 000, stamp duties £25,000,000, Magistracy thin morning, was the On, and were not on the manifest and sequel to an assault on Tam Yee, Customs and Excise £290,000,000, were not claimed, Mr., Schofield aged granted the application.
Sanitary Department and minor items £43,580,000. 25, a ebolic, at Aberdeen Straut near Altogother, he estimated the re- Kong Hon Terrace about noon yes- venue on the existing basis of This
be
authorities to any possible revival
of the anti-Japanese movement in
any part of China.
DAY BY DAY NEWS IN BRIEF
HOPE IS A LOVER'S STAFF; WALK The Polish exhibition ship, 5.5. Fardanus, chartered from the Bloc
will not now arrive here until day- light on Thursday. She will herth at Holt's Wharf and leave Hongkong un Saturday at 4 p.m.
Ila secretary, Mr. Arino, when interviewest by pressmen, denied the report that Mr. Ariyoshi will AGAINST DESPAIRING THOUGHT Funnel Line, has been deyed, and
on his Shakespeare,
HENCE WITH THAT, AND MANAGE IT
tender his resignation. return to Tokyo shortly-Central | · News.
Roosevelt's Treaties
AGREEMENTS WITH SOUTH AMERICA
Washington. April 15.
The Dollar Steamship, Lines 8.a. President Coolidge in scheduled to sail from Hongkong at 4 pm on Satur day, April 20, instead of of sours as previously advised.
› *
**
said at the time of the
On the occasion of Pan-Ameri- An expulsion onder was mads terday. Defendant was bound over taxation at £730,680,000. can Day, to-day, President Roose-ngainst an Indian, Abdul Malik, aged by Mr. Macfadyen in the sum of $26, would leave a prospective surplus valt signed with eighteen South 36, when he appeared before ft. to be of good behaviour for a period of £5,610,000. and Central American Republica Macfadyen at the Central Magistracy of six months. Sub-Inspector treaties rendering the
this morning, charged with entering O'Connor cultural
NEW PROPOSALS monuments of the Amoriens in-the Colony without a valid passport.ssault defendant was looking after. In vlow of the enormous fecal violable in the event of any con- that defendant arrived in Hongkong Complainant was sweoping the street, Diasel-engined motor wagons, he Detective-Sergeant Russell stated a public chair in Aberdeen Stroot. advantage which accrued to filct
The treaties created a new flag, Shanghai. He went to Macao to to move his chair in order to awoer heavy oil used by read vehicles from India on April 1 on his way to and he had occasion to ask defondant proposed to raise the duty on alster to the Red Cross flag, which obtain money, and he was given three tho. side channel, An will render buildinga whoreon it is days to move on to Indin, Defen- arose between the two and defendant from one Id. to 8d. per gallon,
Argument
· erected ---Inviolable in case of dant has not sufficient money to re- wasnileged to have struck com Road vehicle-dutles - produced- hostilities-United Press.
turn to India.
plainant over the eye with a pole, £800,000 more last year than In
500,000. ·
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