1935-04-25 — Page 13

F

LINK

POLIT

(By Telegraph. 1894 Received, April 25

"Wberi Great Brita

INT,

INKS.

ODS.

O., LTD.

Tel. 20269.

The

FINAL EDITION

Hongkong Telegraph.

No. 1472

FOUNDED 1301 四拜雞

LANDERS

PLEDGE

LADXF THURSDAY,

GERMANY Hotel

SHARPLY

REBUKED

APRIL 25,

1935.

日三廿月三

Company

Meeting

This was the terse

foreign policy made to-day William ruiken,

arrived here en route to the K in London.

BRITISH POLICY

EUROPEAN

AFFAIRS

graphic Messages · Ordinance,

Ottawa, April 24. er we are at war."

nt of New Zealand Buter by Mr. George y Zealand, when he Jubilee Celebrations

MR. MACDONALD'S | BIG REDUCTION IN

CONDEMNATION

ROAD TO PEACE BROKEN UP

(Special to "Telegraph")

Telegraph. Copyright. Teigoraphia Message Ordinance, 1181. Recolved, Apre

London, Apr. 26.

2i, 3 p.m.)

Mr. Ramany MacDonald, the British Prime Minister, in an article in the official organ of the group, The News Letter, to-day arraigns Germany and declares that sho has broken the road to peace and beset it with terrors.

"Germany claims a measure of armed power putting most of the nations of Europe at its mercy," declares the Prime Minister,

"Germany aaks other nations to pacing intentions which she her accept a verbal pledge of her

He said he saw no necessity for the discussion of Empire defence or foreign policy with the United King-self would not accept from her dom Government, for New Zealand had been kept in- formed, with respect to the diplomatic discussions carried on by the Foreign Minister, Sir John Simon, and Mr. Anthony Eden, the Lord Privy Seal.

Mr. Forbes said he was confident that Great Britain would always be on the side of peace and would make no commitment that was not: absolutely necessary when she was dealing with the affairs of the nations of the Continent, with which, sometimes unfortunately, her future was so vitally bound up.--Reuter Special.

MILITARY ALLIANCE

Paris, Apr. 24. The Qual D'Orsay slates to-day that the Franco-Russian military alliance, for which the Govern. ment has been striving for the past several months, will probably

NO H.K. DOLLAR REVALUATION

Regarding rumours cur rent in Shanghai to-day that Hongkong intends to de- value the dollar, we learn, on enquiry in official quar- ters, that there is no foun... -- dation for such reports.

DRUNKENSCIENTIONAL FOUNDATIONEN

SHORTER HOURS OF LABOUR

STEEL INDUSTRY CHIEF OPPOSED

CAMPAIGN OPENS

(Special "Telegraph") (By Telegraph, Copyright. Telegraphie Meningre Ondinance, 1984. Retrived, April 25. sets p.m.)

Washington, April 21.

LIABILITIES

DIRECTORS' FEES

REDUCED

HONGKONG

AIR MAIL

REDUCTION:

MUST BE BORNE

BY TAXPAYER

CONFINED. TO BRITISH LINE

Prosiding at the annual general At this afternoon's meeting of meeting of the Hongkong. and the Legislative Council, the Hon. Shanghai Hotels, Ltd., this morning, Sir Henry Pollock moved a resolu Mr. J. H. Taggart submitted with than that there should be a material confidence that a fairly healthy coreduction, in the interests of trade, dition was displayed in the accounts, the air mall rates between Hong- and, in support of this submission, drew attention to the fact that per kong and Britain. The Hon. Mr. reduction of some $400,000 had ban W. H. Bell seconded. effected during the past year in the current liabilities of the Company: of this sum, over four lakha has been Provided out of current working cash

surplus.

Reference was made to the increased patronage enjoyed by the Ilongkong and Peninsula Hotels during the autumn and winter, whilst an in- creased turnover was reported in ros

pect of the Grand Hotel des Wagons of a highly satisfactory result in the Lits, in Peiping, with every indication

| next accounts.

Mr. Taggart announced that the neighbours," he adds.

Directors had voluntarily secopted a "Germany has raised the ausple-reduction of twenty-five per cent. In ion of practically every nation in their fees until Buch time as the Europe and I do not believe that Company was again on A dividend- any German can honestly feel paying basis. surprised that the conduct of his Government. WDS dcaft with prejudice when the Council of the League of Nations expressed at prehensiveness and disapproba- tlon," he declares,

He was referring to the resolu- tion of censure of the League Council, adopted unanimously, following the violation of the Versailles Treaty.-United Press.

SINO-SOVIET PACT?

NON-AGGRESSION AGREEMENT

Shanghai, April 26.

for a

YEAR'S RESULT

The Chairman, after having read the auditors' report, addressed share holders as followe:--From the Profit and Loss, Account under your survey to-day, you will have noted that the operations of the Company for the past financial year ended on the fist December last, after debiting deprecia- ion provision totalling $355,049.38, resulted in a net profit for that perlod of $100,085.00. I report with regret that this figure represents a drop of some $40,000 below the net résult attained for the year 1933. · Novertho

·less, in the light of the anxiou. times for Hotel operation in China which continued during the year 1934, measure of satisfaction can bo darived in respect of a net result appearing on the right side, even though a meagre_one.

The Postmaster General, Hon. Mr. M. J. Breen, stated that if the rate were reduced to 60 cents, there would be a loss to the Government of 331⁄2 cents per letter. Assuming that the volume of mail did not in- crease, the loss on the 50-cente scale would be about $15,000 per annum. This loss would fall on the taxpayer.

Mr. Breen announced, however, that the Government felt justified in reducing, as from May 6. The rate to 50 cents for traffic carried by the Imperial Airways, in order to pro- vide cheaper postage for those will- ing to adopt a service which, in the absence of regular steamship con- nection, would be slightly less favourable.

His Excellency the Governor con-

armed this offer subject to the con- currence of the Executive Council, withdrow his resolution. and Sir Henry Pollock thereupon

S'HAI MARKET REPORT

INDICATIONS OF NERVOUSNESS

Shanghai, April 25. The Foreign Exchange Market is very nervous here this morning. Sellers appear to be reluctant although the Hongkong & Shang-. hai Banking Corporation appears to have sold immediately after the opening

STEADIER AT CLOSE

SINGLE COPY 19 CITY

216.58 VER AKKUM

TROPICAL HELMETS

SPECIAL

REINFORCED ALUMINIUM

LININGS

TEMPERATURE FROM HELMET

TO HEAD WEAR

EXCESSIVE TROPICAL HEAT CUT DOWN BY 70 PER CENT.

SEE PAGE 5 IN THIS ISSUE

WHITEAWAY'S

U.S. SILVER PRICE

RISES AGAIN

TRADERS PREDICT FURTHER JUMP

DOLLAR AN OUNCE IN NEXT FEW MONTHS?

(By Telegraph. Copyright, Telegraphic Messages Ordinance, 1804. Received, April 25, 9.40 a.m.)

Washington, April 24. The United States Treasury Department announces that it has increased the price for newly-mined native silver to 77.57 cents per ounce.

It was only a few days ago that the Treasury figure was raised to 71 cents, following the rapid rise of the-metal's price in the world markets. The United States, following its policy of paying a premium to native miners, thus boosting the world price, remains a step ahead of the London market.

The advance in silver prices followed a prediction by New York traders that the Treasury would be pay- ing $1 an ounce for silver before the summer. One re. port states that the Treasury would no longer pay a premium, but would buy at the world price. This seems to be contradicted.--United Press.

U.S. POLICY INJURES PEACE

NAVAL PROPOSALS

(By

Mr.

CONDEMNED

LET HULL DECIDE!

4

San

navy

SHERIATRICIAN VETERINARIACHINEASTEMASONIC

The Hongkong dollar regis- tered a further advance of three-farthings this morning, the official rate on opening being Za, 3d,

The market was very firm on opening, the business rate being 29, 3d,“ sellers and 28, 4d. buyers.

LONDON REVIEW

London, April 24. Messre, Samuel Montagu and Company report:

Silver prices during the past wook were the highest since October, 1926. The Indian Bazaars, China, local and Amor!- can speculators bought and firm- Tess was enhanced by the scarcity of offerings, which mostly con- sisted of re-sales.

As was stated from the chair at the last annual meeting, the volume It is learned in diplomatic of business-experienced during the firat quarter of 1934 appeared to circles that negotiations for the presage the possibility of improved conclusion of a Sino-Soviet Non-trading conditions over the full year, 1/7.0/16 and Gold Bars $709.80.

U.S. dollars are 39%, Sterling Aggression Pact will be

(Special to "Telegraph") im although admittedly prospects for the mediately started on the return of Impending summer months were dif

The Foreign Exchange market

Telagraph. Copyright Telegraphie M. Bogomoloff, Soviet Ambassador flcult to foreshadow, Unfortunately,

steadied at 10.30.

Hannages Ordinance, 1891. Recrived. April The Central Bank and the Hong- | 1 am) to China, to his duties in the the revenue obtained, at our hotels

Washington, April 24. Vigorously opposing the Thirty-Chinese capital. He has arranged during the last nummor so kong & Shanghai Bank are good Hour Work Week Bill, Mr. Eugene to proceed to Nanking shortly.

particularly those located in Hong-sellers and are apparently co-

Maury Maverick,

The rise in prices attracted some Gifford Grace, President of the It is also reported that arrange 1933 level. This seasonal drop in

kong-fell considerably short of the operating to support the markel Antonio, Texas, member of the profit-taking but the undertone Bethlehem Steel Corporation, do- monta have been made by both turnover was accentuated at our Hong-poriad from Hongkong.

There is also some selling re- House of Representatives, to-day remains firm.

Messrs. Pixley & Co, state that clared to-day that if the BI besides for

charged that the United States' the resumption of kong establishments owing to The comes law and the 30-hour week negotiations

the world price for silver is now, bigger Sassoon's interests are reported proposals for be signed during the coming week-compulsory in the steel industry, Commercial Trenty based on the of a certain class of tourist patronage Sterling 1/7% and Gold Bars $799, peace.

Sino-Soviet almost entire disappearance last year to be buying. U.S. dollars are 394,

created a stumbling block to world about one cent above the American Internal price of 71 conts and ond

It is further announced that M. where they were in 1934.

it will put back things to place principle of reciprocity and enjoyed of late years during the sumidor month--the rise in value of equality.-Central News. Pierro Laval, the Foreign Minister,

Ho announced he would intro- speculators are continuing to buy the local dollar vis-a-vis United States The market was steadier at the duce a resolution to the House in expectation of an official an- will probably visit Moscow on This condition would be entirely

dollars, poses and Straits dollars ap closs due to continued support of designed to keep the United States pouncement of further increases May 6

junsatisfactory for employers and

parently entalled increased holiday the Central Bank.

in price. If this occurs, it may neutral in wartime. Up to the present negotiatlons employees, and WILS, boaldes,

costs sufficient to weigh against the between the two countries have economically

Gold Bar quotations touched He said the resolution, which lead to further speculative pur- Geneva and Special. been carried on in Paris, and M. Laval's trip to the

rise in gold bars was attributed with tuteen International lay any auch announcement in the firstly to the Cantonese buying experts, would prohibit wartime dangerously high, due to the large near future, to-day's lovela look Soviet capital will make possible the rapid winding up of the un-

A material increase in patronage bars and selling sterling due to the loans to foreign nations and also bull position now open and to the ensued during the autumn and winter

wide disparity. Secondly, finished details concerning Russo- Franch co-operation, in the event

months, the revival being most mark. Belgian Banque was buying gold of aggression against either party

ed at the Hongkong and Peninsula bara reportedly on the account of Hotels. However, competition in the Central Bank, which is reluc to the treaty,-United Press,

ereased in intensity during the year tant to buy openly on account of in all areas, and I need hardly en- the tendency to woaken the market. phasise to you the dificulties in This is

considered a most logical that connection encountered by the reason since gold bare give the management of certain of our hotels Contral Blank coverage on their re-

(Continued on Page 7)

anles of exchange. heavy Exchange rates were practical- unchanged.-United Press,

COTTON FOR WARSHIPS

ITALY'S OFFER TO BRAZIL

(Special to "Telegraph”)

+

Rio de Janeiro, Aprli 24, Following requests by tho Brazilian Government for tenders for the construction of a Brazilian Navy, Italy, according to well- informed sources, hae offered Brazil facilities for payment in kind,

Italy offers to accept Brazilian raw material, primarily cotton, i⦠bayment for the warships.

unsound. Reuter

TEXTILE INDUSTRY.

Washington, April 24. Authoritative sources have pre- dicted that the United States will vigorously support the Interna- tional Code to reduce textile in- dustry working hours throughout the world.

CRUDE OIL ADVANCE?

AWAITS PETROL'S

INCREASE

(Special to "Telegraph")

New York, April 24. The International Labour or

In view of the recent strength ganisations' governing body will of petrol prices throughout the consider a plan in this direction country, there have been rumours at its fall meeting, when it will of a rise in crude oil prices being draw up a programme for the imminent. Labour Conference at Geneva in 1936. Reuter Special.

SAVED FROM FLAMES

IRISH SWEEPSTAKE COUNTERFOILS

(Special to "Telegraph”)

Dublin, Apr. 24. It is reported from Italian, It is now announced that the sources that an Italo-Brazilian counter-félis of the Irish Hospitals commercial agreement embodying Sweepstake ticket series were not this arrangement will shortly be

destroyed in the fire in the Plaza concluded-Reutor Special.

Theatre here yesterday..

However, it is pointed out that petrol prices are at below parity with crude oil, and therefore a further advance in petrol prices Is necessary before there can be any likelihood of crude oil prices ad- vancing. Router Special.

LOCAL SHOWERS

#olection of Hongkong for a short | $811.00 and closed at $800.00. The had been drafted after talking/chases here, but, in the absence of

vacation..

KEEN COMPETITION

GRAIN PIT CLOSED

(Special to "Telegraph")

Telegraphis (By Telegraph, Couricht. fense Ordinance, 181. Received,, April 15.1 p.) 2

Chicago, April 24. The Chicago Grain Market did

A weak anticyclone covers the not open this morning owing to Pacific to the south-east of Japan, the dispute between the Chicago and pressure is moderately high Board of Trade and the Federal over N.W, China. A shallow de- Court. The latter issued an order

prosalon is situated to the northing the Board from aus-

cent

ly

the

The Shanghai exchanges market opened uncertain and developed weakness on speculative cover- ing, the absence of cover and also on rumours that the Hongkong Government intends to devalue the Hongkong dollar, Reuter adds.

QUAKE FELT IN U.S.

PROVINCETOWN IN STATE OF PANIC

the use of the Army and Navy for

poses.

other than strictly defensive pur-fact that the American buying. programma has not been function- He added: "The foreign policy ing in London lately.-Reuter. of the United States should be determined by Mr. Cordell Hull, Secretary of State"-United Press.

NAVY MANOEUVRES

PITTMAN FORECAST

Washington, Apr. 24. Members of the United States Treasury to-day said that the Government would pay the world price for all silver mined in the United States after April 10,

Washington, April 24.` Mr. Claude Swanson, Secretary for the Navy, Indicated that the

Also they indicated that no fur- Fleet's visit to Hawali would be ther arbitrary advance would be the end of America's Pacific made in the Government's newly manoeuvres rather than the

mined silver price, and therefore beginning.

the Treasury would buy allvor in He said the Fleet would leave tho New York market at the world the Pacific Coast about May 3 and price.-United Prees. would pr seed on manoeuvres, at the completion of which it would

PRICE PREDICTIONS.

proceed to Hawall, in the latter

New York, April 24. part

of the month. The Fleet

Several members of the New York would remain in Hawali about a Stock Exchange to-day predicted. week and would then sall for San that the allver price would resch Diego to participate in the later $1.00 before the summer of this. national exhibition there.United. Press.

DEVELOPING RESOURCES

year.

This prediction was made pre vious to the Treasury's announce ment that henceforth they intended to pay the world price instead of arbitrarily advancing the price fur- ther...

Some traders had predicted a possible now price of at least 77.58 conta, per ounce. ..

of Peking. The typhoon, or, dó-

the powerful Rosenbaum to the cast of the Corporation from operating in the pression nearly Southern Philippine Island is Pit because it was unable to meet. stationary. Local fore-its maturing obligations.

(Special to "Telegraph") cast:-East and S. E winds, The market is opening to moderate; cloudy, local showers. morrow, however.-Reuter Special,

Provincetown, Masa.; April 24. sion of the Rosenbaum Grain Cor-. A thirty second earth tremor

Narklog, Apr. 25, Jarred homes and rattled dishes poration.

The situation is regarded as be- In view of the settlement of the 'BANKS RESCUED ·

The suspension of the Rosen here to-day and sent panic-stricken political situation in Binklang ing Ideal from a speculative viow- The counterfoils were stored in

baum Corporation from trading citizens scurrying into the streets. Province, the Chinese Construe. Point Inasmuch as silver supplies iron,-fireproof boxes in the Sweep's

Shanghai, April 26... was in connection with the court

There were no damago, and n tlon. Committee. In proposing the are constantly dwindling, which headquarters at Earlsfort Terrace. The condition of the native diaputo over their petition to re- casunities, The Royal Air Force flight to

of the oil resources there, as a higher prices. banks here is reported to have im- organise the corporating under the Harvard University aclamolog-development by modern method is attributed to holders awaiting It is expected that the next draw, proved due to the Central Bank, new bankruptcy laws,

ists characterised the disturbanco Arat step toward

The continued strength of Lon the Gspo, in which four troop for the Derby, will be held on June the Bank of China, and the Bank The Rosenbaum Grain Conas a submarine. quake," probably velopment of the natural resource don sliver, is attributed to further carriers are engaged, left Cairo at the official home of the Lord of Communications having extend-paration has obtained an injunc-centred in the ocean floor 25 miles in the Province. The details of heavy buying by China and India this morning on the first stages Mayor, where the first two sweeped loans totalling $8,000,000 during fon vacating the suspension order, from Provincetown.

United

this plan are being worked out by who are replenishing their supplies. * the Journey, Brißiah Wireless., staken were drawn.---United Press, this wooks).

United Prezz

the Committee Central News,

RAF. FLIGHT

London, Apl. 24.

Press

no

(Continued on Page 7)