1935-04-26 — Page 1

HOT WATER SYSTEMS INSTALLED

TO ANY

CAPACITY.

Systems designed to

save fuel Costs.

CONSULT

C. E. WARREN & CO., LTD.

China Building.

Tel. 20269.

The

FIRST EDITION

Hongkong Telegraph

FOUNDED 1881

No. 1078

五拜體 號六廿月四英港香 FRIDAY

APRIL 26, 1935.

日四十月三,

SILVER EXPECTED TO GO HIGHER

WHEELER FORECAST $2.18 AN OUNCE

WILD EXCITEMENT IN ALL MARKETS

(SPECIAL TO "TELEGRAPH")

New York. April 25.

Silver circles anticipate the wildest silver market yet seen and all agree that it is only a matter of a few days before another increase in the U.S. Treasury price will become necessary.

In view of the avowed Treasury policy to continue purchases until a price of $1.20 an ounce is reached, they doubt if the Treasury at present can make additional substantial purchases on the world markets, expressing the opinion that there is no incentive how for specula tive holders to unload until the price of $1.29 an ounce has been reached. At that point it is held probable that the Treasury will be compelled to absorb huge quantities of the white metal with a view to maintaining the price, unless the movement for silver devaluation, in the same ratio as Gold, grows in strength and would permit a statutory price of $2.18 per ounce.

Meanwhile, expressions of de- light have continged from "silverites,"

Senator Wheeler, si: "IL simply means that sliver is on the way to $1.20 an ounce. What I Want to see Is silver fixed at a definite ratio with gold and I am going to continue

thet la remonetise silver at 16:1, which would mean $2.18 per ounce at the present gold price." ·

my

Senutor King said that he look ed for silver to supplement, if not take the place of, gold. "We will soon have a bi-metallic standard for all nations. Our country is

leading the way back to bi- metallism."-conétucted Senator;" King-Renter

Landou, April 25,

ANOTHER PROTEST

BY CHINA

AMERICA FORCING

HER CRISIS

RESOURCES LACKING

Spacial to "Telegraph") Triegraph. Copyright. Telegraphio Mugen Ordinance, 1414- Seceived, Apri

• The rise in silver prices here to-day was attributed solely the United States having, raised 1272 22 em the price of domestic silver.

Washington, April 25, Mr. Alfred Sze, China's Minister The silver market was very to Washington, to-day Informally excited throughout the morning: informed Mr. Cordell Hull, Secre- Interviewed by the press, onetary of State, of China's deep and continued concern at the United

of the City's leading ballion States Government's silver pur finers, Mr. S. S. Abelson said:chase policy, "It looks as though America has

deckted that silver shall he put Mr. Sze inter informed news-

on a higher basis permanently."

China and India hought heavily and there was an insufliciency of offerings. United Arras,

HIGHER PRICES FORECAST

papermen that he had discussed the question with Mr. Hull,

He added that he had explained that China was now faced with the same situation, as that which confronted America in 1953. The difference is that China has not Washington. Apell 25. the Representative James Scrugham. States had to meet the problems resources which the United Senator Burton K. Wheeler and arising from the crisis.-Renter Senator William H. King to-day Special. unanimously forecast that the price of silver would be $1.29 ori above, very shortly.

Senator

Pat McCarran

CHINA'S CONCERN

Washington, April 26. The Chinese Government to-day Nevada, forecast the remonetisa-again notified the United States tion of silver at the $1.29 level. Department of State of its concern United Press.

at the steady increase in silver

PURCHASES TO CONTINUE

Washington. April 25, The Secretary of the Treasury. Mr. Henry Morgenthau to-day indicated that the United States Government would continue to by

prices,

Dr. Alfred Sze, the Chinese Minister to Washington conferred States Secretary of State. with Mr. Cordell Hull, the United

After the conference Dr. Sze in China was approaching an internal A statement to the press said that

silver until the price reaches economic crisis similar to that in $1.20 or until the Prensary's silver the United States in 1933.-United stocks reach one-third of the Press. value of the gold stocks-United Press.

CO-OPERATION URGED

Tokyo, April 25, In view of the United States silver price increase it la expected that the financial and monetary exports here may reconsider their: opinions which they expressed at

pund table conference on Wednesday last

7

CASH BONUSES

FOR VETERANS

U.S. SENATE BACKS HARRISON BILL

In a recent nimic "war", the British Homie Best and the Mediterranean feat engaged in pitched battle for eight days. Photo shows onomy Baffin aeroplane attacking anroplane carrier, H.M.S. Engle. It is "rupposed to drop bombs and make a gotaway. The manoeuvres ware hold in the

Atlantic,

Borah Will

Compete For

Presidency

SEEKING REPUBLICANĮ

NOMINATION

WESTERN BACKING

(Special to "Telegraph")

tly Tegraph. Copyright. Telegraphle Messages Didinaner, 1894." Retriend, April;

Seattle, April 25.

Senator William E. Bornh, Re- publican from Boise, Idaho, will, seck his party's nomination for! the next Presidential viccțion and will attempt to defeat President Senator William E. Barah, who Roosevelt's faction with a revived may be nominated, on the Republican "Republican war party" behind ticket, in the next U. S. Prealdential him. These fact became known 10-day with the announcement in) Seattle of the formation of the i first "Borah-for-President Club."

Senator William E. Borah is Idaho's most outstanding political Agure. It was Senator Borah, who incidentally has served in the Senale since 1907, who practically for he is a man put Mr. Herbert Hoover into office, fence with the Western party of immense in- members and a power in National Republican ranks, accordingly,

and has consistently opposed the Senator Borah is an 'isolationist,"

entry of the United States into the

League of Natious or the World Court. In both directions he has byen auccessful.

He has been chairman of the Sennte Foreign Relations Com- mittes since 1924, and has served with distinction as chairman or groups.-United Press. member of various other Senate

election.

REDS

CAPTURE

LOPING

TERROR SPREADS IN YUNNAN

DESPERATE FIGHTING

Yannanfu, April 25. The fall of Loping. Yunnaй

Quarrels With Royal Academy

STANLEY STENCER

RESIGNS

PICTURES REFUSED

(Special to "Telegraph")

Telegraph, Copyright. kleasten Didinance, 20. Bill and

Telegraphie

1801. Krevived, Apest

London, April 25.

A sensation has been created in the art world of London by the action of Mr. Stanley Stencer, well-known painter, in resigning from his associate membership in the Royal Academy,

SINGLE SOFT 10 CENT

$28.00 723 ANKUM

DUNLOP

Fort

is unequalled by any other Tyre in the world

LOCAL DOLLAR RISES STEADILY

FURTHER ADVANCES IN PROSPECT

SHANGHAI REACTS TO SILVER REPORTS

There was a sensational advance of 1d. in the sterling rate of the Hongkong dollar this morning, bringing the official quotation to 2s. 5d. Since Mon- day, the dollar has risen 3d., and there are prospects of a still further advance.

.To-day's rate of the dollar is the highest seen since 1924, in which year the quotation rose to 2s. 5gd. Leaving out 1924, we have to go back to 1922 to dis- cover a rate of 2s. 5d.

The market locally was very strong on opening, the business rate being 2s. 6d, sellers, with buyers holding off.

CROYDON

GOLD THEFT

THREE MEN ON TRIAL

AGED SUSPECT

·DISCHARGED

(Special to "Telegraph")

De Telegraph. Copyright, Telegraphlo

26, 8.30 am)

London, April 26, The trial of three men charged with breaking into the "bullion room" at Croydon and carrying off a quantity of bar gold and sovereigns, valued at £21,000, was commenced at Croydon to-day.

The three accused are: Cecil Swantand, 47. an artist; Silvio Mazzarda, 38, commission ogent;

Ho is offended because the Heunges Ordinance, 1884. Received, Aprü Council refused to hang two of five pictures he sent for this year's exhibition, namely: "St. Francis and Birds," and "The Lovers."

Mr. Stencer maintains that as he is an associate member of the Academy he is.ontitled to have all his pictures hung without ques- tion. He' is specially annoyed by the Council statement that its members did not think the works which they declined to hang were [of advantage to the artist's reputa- tion, or to the influence of the Aendemy.

John O'Brien, 74, dealer.. The men are alleged to have

secured keys and to have eluded

a guard at the aerodrome, break- Sir William Llewellyn. Presi- ing info the bullion room and saya the wheeling the gold, stored for ship dent of the Academy, pictures were rejected

ander ament by ane, to a waiting rule of which Mr. Stencer must be kutomobile in which they made aware because it is often exercised. their escape. This happened on -Reuter Special.

border town, into the hands of the War Against

China Eggs

SERIOUS CHARGES

*

March 19, it is

taxi

is

The local rise of the dollar fel- lows an advance of 2.1/16d. In silver prices in London, making the spot quotation 34.7/8d, which is the highest point touched since

· October, 1924.

The sharp London advance was due to ronowed speculative buy- ing. The market closed uncertain..

SHANGHAI MARKET

Shanghai, April 26. Rates are nominal on the For- eign Exchange Market at D.30 a.m. to-day

U. S. dollars are 40 3/8, 6terling 1/8 1/16 and Gold Bars $775.50.

The Foreign Exchange WAN strong at the opening but turned uncertain on the report that the U.S. Treasury would not increase the silver price to-day.

After this the market Armed again sharply duo to Chinese Banks selling. U. S. dollars were 40 3/4. Sterling 1/8 1/4, and Gold Bars $77430-United Areas.

VOICES HEARD AROUND WORLD

NEW YORK TALKS TO ITSELF

Now York, April 26. A telephone conversation for the first time in history encircled the globe to-day.

The President of the American

Telephone Company, seated with the morning of alleged.

others in one oflice In New York, rang the Vice-President in another The chief witness driver, who drove four men from office in the same eity and the call was transmitted over trans-Atlan- North London to point near the Croydon aerodrome early in the tie telephone lines to London, morning of March 19.

thence by cable to Amsterdam, This witness now declares that by radio to Java and San Fran- he does not remember whether he cisco and an back to New York.

The calt told police that he recognised

and conversation O'Brien

travelled a total distance of 23,000 as one of the four men

and instantaneous-enter.

Rede, has caused

some anxiety among the local, populace, as the ADDRESSES NATION

Communists, who are hemmed in on all sides, are apparently taking Washington, April 25.

advantage of a emparatively weak President Franklin D. Roosevelt point and making a concentrated will deliver an address to the drive into the heart of Yunan.

who drove in his car that morning. miles and reception was perfect nation, by radio, on Sunday.

Principally he will discuss the ever, are trying to calm the people The Yuman authorities, how-

As the taxi driver's evidence PENDING

| against O'Brien was the only thing work relief programme but it is with the assurance that the Gov- hoped he will open the door und ernment

police could put their hands on, London, Apr. 25. shed light upon other national with the Red menace, na there are is in, a position to deat

the prosecution decided that it Sensational revelations regard.) was not safe to ask a jury to con- problems-Reiter Special.

viet him. The jury consequently j about 400,000 troops forming &ing the importation to Britain of strong defence lie in the enstern 700,000,000 liquid Chinese eggs found him not guilty and he avas .section of the province,

"produced under loathsome condi- discharged.

The trint of the other two menj General Lung Yun. Military tons." will be made at a meeting

U.S. Minister Governor of Yunnan, is at present of the National Poultry Council is continuing. Reuter Special.

Denounced

COTTON INDUSTRY

UP IN ARMS

(Spacial to "Telegraph:"}

the

at Loliang to direct the operations. next Tuesday at Southport, says

Heavy fighting is developing around Loping-Central Newa.

CHICAGO WHEAT

DECLINE

ROSENBAUM UNLOADS BIG HOLDINGS

Chicago, April 26,

special correspondent of the Daily Herald.

Ile states that Chinese eggs will be the subject if a special report based upon an impartiul investiga- tion carried att by leading analysts, "the results of which are | appalling."

One sample was found to contain 1,500,000 living microbes per cuble. centimetre.

The correspondent adds that the Scintific Poultry Breeders' Associa tion will move a resolution at Southport declaring that the con-

་་་་

MISSION MEETS · BANKERS

PROBING SILVER PRICE PROBLEM

FRENCH WAR VETERANS

LAY WREATHS IN LONDON

London, Apr. 26. Severn hundred French OX- Service men, members of the Union Federale des Anciens Com- battants, who were welcomed and entertained by the British' Legion during a short visit to London, this morning marched to the Cenotaph in Whitehall and laid wreath there....

The deputation afterwards laid. Shanghai, April 20.4 wreath on the grave of the Un- The members of the American known Warrior in Westminster Economic Mistion are haldig In-Abbey-British Wireless. Kung, Chinese. Finance Minister, terviews separately with Dr. II. II.), Mr. T. V. Soony, Chairman of the Board of Directors of the Bank of Chinil, and a number of other Chinese bankers this morning,

During the interviews they will exchange views on the present: the continuous rise in silver's financial dislocation created, by

DAUGHTER TO FRENCHAMS

Augusta, Ga., April-25. Bitter denunciation of the cotton processing tax, coupled with the (Special to "Telegraph"},

demand for the resignation of Mr. It is unofficially reported that tinued importation of Chinese eggs At this conference it was agreed |

Washington, April 25. Honry C. Wallace, Secretary of holdings of the Rosenbaum Grain is a menace to the public health. that China's silver situation could to-day approved the Harrison opening of the American Cotton million bushels,

The Sonate Finance Committee Agriculture, were heard at the Corporation, amounting to four Renter be onsily settled if the Chinese Bonus Bill, liberalised to provide Manufacturers Association con- liquidated within half an hour of Government would co-operate with cash Instead of bonds, aftor thevention to-day.

were to-day the Chinese and foreign banks first cash payment proposals had

The President of the Associa-opening, causing only a slight

the Chicago. Board of Trade re- more fully.

However, it was agreed by all

been overwhelmingly rejected. tion, Mr. William D. Anderson, cession in wheat pricon. concerned in the monetary situa-sidored likely that it will be passed mont and the ordinary knowledge short,aldo commitments which housing the Asiatic Petroleum Co. At noon to-day they will vialt believed to have been murdered, tion to co-operate would be bound in spite of their objection-Reuter of business, as well as in common necessitated

(Continued on Page 7)

baylag. United (South China), Ltd., will be known the Shanghal City Chamber of gave birth to a daughter in Hany "Reuter Spaciali

as Shell House."

chung, Bhonsi, to-day--Reuter,

rc-

"SHELL HOUSE"

the experts that the failure of all tives oppose the Bill, but it is con- plainly incking in business judg-of the Rosenbaumholdings word now designated Asiatic Building, prico.

American Legion representa- charged that Mr. Wallace was Further it is reported that some As from May 1, the premises

Special

Commerce.—Central News,

husband, was a captive of Reds

Shanghal, April 26. Mrs. Francham, who, with her

for some weeks and until

recently