1935-05-03 — Page 21

THE HONGKONG TELEGRAPH.

FRIDAY, MAY

1935.

SILVER POLICY AGREEMENT

POSITION MAY BE CLARIFIED ·

U.S., CHINA AND MEXICO REPORTED IN ACCORD

(SPECIAL TO "TELEGRAPH")

London, May 2

The belief was expressed by London traders to-day that the United States had reached some agreement with Mexico and China in connection with the silver problem.

Pending the clarification of this agreement London traders lightened their commitments.

Demand for silver was lacking except at eon- cessions and the price consequently dropped sharply.

Messrs. Handy and Harmon were quoting silver at 71.25 cents per ounce to-day in New York.

On the bullion market in London the heavy drop in silver prizes! was attributed to an almost com plete exodus of pintor perple ing the clarification of the uitrol Stries anderstanding with Mexico! and China on the silver que Linn. -United Press.

SENATORS' DEMAND

Washington. May 2. Taking cognisance of the drop! In the silver markets. Senator! Them or DAN protested to thei Senate that the Administration in! not carrying out the tertiis of the Silver Purchase Act. Senatori Thomas raid that the Treasury s not buying silver aithngh the Las required It.

Other Silverio Semtors' have joined Senator Thomas in demand ing an immediate resumption of buying by the Treasury.

sezona pasmantementos dangtemaal

The official rate of the Hongkong dollar on opening the morning was 25 Ad..

drop of a halfpemy yesterday's quotation

The business rate early on was 2s. Had', but later It moved up to 25 4id and then to 2 47ad, the mar ket being firm, with no buyers in evidence.

The local dollar has not kept in line with silver's downward trend Since Saturday, silver has dropped 4d. per ounce, whereas the Hongkong dallar has only declined 20

The silver dragon, ane of four to be seen in the Chinese procession during the King's Jubilae celebra-

tions in Hanghong. It is 300 feet long. (Photo: Mr. Wai fu Chon).

Chinese

Steamer

Pirated

SILVER ABOARD FOR HONGKONG

ONE DEAD AND THREE WOUNDED

Jun

Shanghai, May

RUSSIA WANTED

AS ALLY

NATIONS FOLLOW FRENCH LEAD

ו}

PROTECTIVE TREATIES

Geneen, May 2.

The thin steamer Lukiang,

of Nations eireles to. lustered by merchants at Aning day wolroaned the signature at the

big consignment Danca Savjet Part of _mutul-sme from Paltre to Agy, Asistance in the event of agreeskins alliedly with a view to being urrine' agaitest, pittor state,

ihr

| shingo d'to Hongkong fos rale, vng is felt that the treaty is within th¦ | pirated on Thursday.

compass of the, Leurue Covennat and is calculated to strengthen the system of collective security.

According to Chinese reports, there were alsteen pirates in the gang, including women, all being disguised as passengers.

LONDON POSITION. Senator McCarran said that in

London, May 2. answer to the drop in prices the On the Stock Exchange tostay, Treasury should bid up the price (interest in industrial issue was inmediately to $1.29 an sunce and sery well maintained. Aircraft shake loose the bears which had and · leading motor shures, After forcing the master of the part with the Soviet, been depressing the market...

Senator Adams said: "The Giov ernment is not only justified, is under an obligation to resume buying now, although for a period, due to unsettlement of the market. it had to discontinge owing to fears that speculative influences, would crente fictitious values. The situation is now clarified and to- day's break was not disturbing, as. fluctuations are to be expected."

Senator Wheeler expressed the opinion that the Treasury should proceed now to keep the price moving up.

weakened

It is expected the Czecho-Slovakia will immediately conclurle a similar

aup-ship, at the mini of pristols, to It is highly probable that nege- wat steep the vessel in a direction deftiations for an Italo-Russian agree- signated, the maurauders. comment of the same sort as that he ducted a systematic search and tween France and the Soviet, will looted aliver valued at $200,000, shortly be lanugurated.-Reuter

expreially, received further [part. Otherwise, business

very email all round.

On the commodity markets, alvor

shurply, spot" price falling 2.1/8 to 32.- the 8. There was some buying by America at the fixing which, ne- tording to some brokers, fooked ruspiciously like being on Ameri- ran Government account.

Later, speculators re-entered the market and final dealings were done at 124 over the fixed rate

Rester.

OUTLOOK REVIEWED

London, May 2, Messrs. Aforalta and Goldsmid.

Senator King blamed specula- tion-for-the-drop. The idea was in their silver report, aft. review, to proceed gradually. but then the movements of the past Treasury ran into a situation week, say: where speculation was moving the! price too fast for its own gooi.” Rentur,

CAUSE OF FALL

bertson and Frita.

It still appears that there is no.

Trare of American Government,

FIRM MARKET

the

and three wounded.

One passenger was shot dend

Before leaving, the pirate chief! gave the passengers two dollara each, as well as $40 to meet the funeral expenses of the passenger who was killed,-Renter,

S'HAI MARKET REPORT

EXCHANGE REMAINS VERY STRONG

(Special to "Telegraphi")

Paris, May 2.

The Franco-Russian Pact day by M. Pierre Lavel and M signed at the Qual D'Orsay to- Potenikin, French and Russian representatives respectively.

The act consists of a protocol; of five

articles.

ised upon Artichs Ten, Fifteen and Sixteen of the Longue Covenant, to pro- vide matou assistance in the ¡event of unprovoked aggression... The abject of the part in to secure the adequacy of the pro

the Covenant, and/or

viiens of

a recommendation of the Learne

: Conneil. Shanghai, May 8

J

conclusion

RADIO BROADCAST

:.

A Weekly Review By Sabrina

CLASSICAL PROGRAMME

From ZBW

wavelength of

355 metres (845 kiloeycles) :

1-7 p.m. Chinese Programme. 6-6,15 pm. From the Studio. "The Work of St, Jahn Ambulance

in the New Territories" by A Ment-

tari i pan from the Sendi

|

"The Tung Wah Hospital Theatri-

Wa.

7 p.m. Loval Stock Quotations. 7.03-1.30 p.m. Light Orchestral Selections. Caliph of Ragdad-Overture Schubert's Love Songs Medley,

(Roieldieu).

Bundel in the Strand (Grainger). Mock Morris Dances (Grainger). Dance Slave (Chabrier).

7,30-7,50 p.m. Voenl Excerpts from Light Opera and Musical Comedy. Vocal Gems--The Student Prince. Songs-Waltz Song ("Merrio

England") (Germnu). Songs-Love will find a way ("Tho

Maid of the Mountains") (Fraser-Simson).

Helene Exserman (Soprano). Vocal Gems-The New Moon

(Romberg).

Voc Genu-Whoopee.

7.50-8 pm. From the Studio. "A Weekly Review for Film" by Sabrina.

Hp.ne Time and Weather Report. H.013-8.15 1-m51-

The H. Sautre Celeste Octet.

1.Operation1 Famous Operatic.

Melodies) (arr, Squire). 2. Collette--Valse (Fraser-

Ятвол).

8.15-8.30 p.m. From the Studio. "The Work of St. John Ambulance

in the New Territories" by a Member,

8.30-9 p.m. Variety.

Pinne Solo-Can't we talk it over,

Carroll Gibbons, Sang--June in January.

Leslie Hutchinson. Instrumental-- My South Sen

Sweetheart,

Masters' Unwailans. Orchestra-Jerome Kern Medley.

strumental-Shine; My Sweetie Went away: Sweet Jenny Lee.

Harry Roy and his Tiger- Ragamufing.

Hildegarde. Orchestra-When day is done. Voen! Duet-Arlene

Layton and Johnstone. 9-10.30 p.m. Classical Programme. The Magie Flute-Seven Variations on the Duet "The Manly Heart"

Mozart, arr. Beethoven). Eumunel Fenermann (Cello) and Symphony No. 5 in E Minor, Op. 64 Theo van der Pas (Pinnoforte). (Tchaikovsky).'

purchases in this market. Busi-i The Foreign Exchange · Market' The obligations, dedġned to 11443 WAS Thiefly confined tois very strong due to reports that i maintain the peace of Europe, are New York, May 2, jepyculative operations, but the the United States Treasury bought assumed in fall enformity with! The Wall Street Jourmi, re-price is now well below the Ameri-ver in London,

previous engagements of the twol porting on market condition, en donestie prien of 77.57 cents Also there is a general beliet Governments concerned and in no states that silver lexues were an ounce, and we think tirat if the here that the decline in silver was "exclude the possibility of irregular due to the sharp break; feli continued much further, I pray is evt mede

their participation in a regional in the price of the metal in Lon would be reasonable to expect

the From reliable sources it is fenes-jagreement. don, New York and Montreal. This ofthelal Amerián buying. Rentered that the reports of China sulting, which stili retains desirable to was due to the fact that Loudon

in London is confined almostį such, traders dumped the metal, alarmed

London, May 2. entirely to small kolders,

M. Laval and M. Potemkin in a by the Treasury's continued failure: Senators, chiefly in China, U.S. dollars were 40.11/16, feunt statement emphasise that the; to increase its urieu-Sivu. Cul-j were heavy sellers. The United Sterling 1/84 and Gold Bar part is part of the organisation of Sone-I was in the`mond.

States Treasury bought ap

$789,00

European security and is not 4-eline.

. The market continued strong ati zimed at any citry-Router The market closed firm, with 10.40 a.m. apparently due entirely Sporini.

SOVIET CELEBRATES Silver prices in London declined; buyers at prices over the fixed to the reports that the United 2.d. spot and 2.3/16d. forward. quotations. The tendency of the fall in London prices.

States Treasury bought silver at

Moscow, May 2. The fall was chiefly due to liver market is unerrtain,

US. The recent SHECUSKES of the heavy China selling. Amerien not much further fall expected un-

dollars were 11 and Sterling 1/89, Toviet Union, ruminating in the

The market quietened consider-' signature, of the and speculators bought at the fall. less sp. galators continue sellingably towards the close of

Franco-Soviet the pet, were elebrated with joyous The market closed uncertain.

morning session and little business | demonstrations, including dancingį teko pasing. The andertone of the in the streets for the first time market remained strong.

since the revolution of 1917. The Central Bank has been sell- Thousands hf electric lightsj ing occasionally throughout the framed pictures of Stalin and morning.

other tenders and formed slogans

HEAVY CHINA SELLING

Stean, Cibertson and Fritz.

with

DAY BY DAY NEWS IN BRIEF

WHEN WE TAKE PEOPLE MERELY ( There was a clean bill of health for

THEM the Colony on Wednesday. AS THEY ARE, WE MAKE

WOREE WHEN WE TREAT THEM AS IF THEY WERE WHAT THEY SHOULD) BE, WE IMPROVE THEM AS FAR A THEY CAN BE IMPROVER-Goethe,

Mr. and Mrs, Frunk Anecin left for Japan to-day by the Empereen of Russia. They expect to retim to the Colony by the Empress of Japan ou June 7.

The theft of two, water-taps from Luen Fat Street on Thursday whe the charge brought against Wat Hon, The Bev. Sir Montaga Bentham, aged 29, unemployed, when he ap- the datinguished missionary, left for peared before Mr. Macfadyen at the Shanghai yesterday abord the 8.8. Central Magistracy this morning. Happura. During his brief stay here, Acting Sub-Inspector Tyler statesi Sir Montagu was entertained by Mr. that defendnut Kved with a clansman, Peter Sin to a dimer at the Chinese from whom he had stolen the taps, Merchants' Club in a mail party. which were valued at $1.50. Defen- Sir Montago is proceeding to Kit- dent was bound over in the sum of feng, Innan Province, where he will $50 for n period of one year,

visit his son, who is stationed at the Chirm Inland lesion Hapital..

Six weeks' hard labour was passed

U.S. dellars were 43 1746, Steri-emphasising the victories of Soviel ing 1/8 and Gold Bars $784.80, diplomney and a feeling of general

ratisfaction United Press.

with the present status of the Soviet Union widely expressed.-Bater

QUAKE KILLS SCORES

DISASTER FALLS UPON TURKEY

(Special to "Tolograph")

(hy | Telegraph. Copyright, Telegraphic Menanger Ordinance, 189, Received, Afay 3, 1.20 am)

H.M.S. PANDORA

FLOODED

INQUIRY INTO NEGLIGENCE

WAK

A Court of Inqning recently terminated, into the flooding of a Istanbul, May 2 section of the engine room of Two hundred persons were kill.I.M. submarine Pandora a fort-!

cd and 500 seriously injured to-day night ago while she was lying

The finding of the Court is

upon Id Fut, aged 36, unemployed, bý I Wing, aged 40, unemployed, was Mr. Wynne-Jones at he Kowloon charged before Mr. Macfadyen this Magistracy this morning, when he morning with (a) theft of a fountain in fifteen villages, which were alongside the depot ship Medway, pleaded guilty to the theft of house. pen from So Kul, aged 23, and (b) almost completely destroyed, when fittings consisting of 12 panes of glass receiving the same. Defendant stated an earthquake rocked the Pre-recret, but it is understood that on Wednesday last. Detective Sab- he picked the pen up from the street fecture of Kars. Inspector Poyntz, prosecuting, said near Bonhunt Strand Enst. He was defendant was arrested in the street son by a Chinese detective to have with the glass which he admitted the pen in his possession. Complain stealing from No. 126 Yu Chau Streat, ant was not aware of the theft until second floor. The floor was untenantanked by the detective if he had lost ed. The complainant was Wong Sam, anything. The defendant was din. nged 40, a carotaker.

charged with a caution.

the flooding was caused through Thousands are in a state of negligence. The vessel has been banke, without food or shelter. out of commission for the past Evon their hords have been killed fortnight and It is understood the or have vanished in the confusion. damage done to the motors by the The violent shocks are continu-dooding will he repaired in two Ing-United Press.

jor three days' time.

New Symphony Orchestra conducted by Sir Lamulon Ronalà. 10 p. Press Bulletins, Aria-Ave Maria (Hail Mary)

("Othello") (Verdi).

Margaret Sheridan (Soprano). Orchestral Carneval-Overture

(Dvorak).

London Symphony Orchestra. Arias-In the town of Kasun (Var laum's Song) ("Boris Godounov")

(Moussorgsky),

Arias-Song of Prince Galitsky.

("Prince Igor") (Boredin).

Theodors Chalinpine (Bass), Pianoforte Solun(a) Arlette; (b)

To the Spring (Grieg). Pianoforte Salos-(u) Feuille

d'Album; (b) Papillon (Grieg),

Arthur, de Greef, 10.30 p.m. Rugby Press. 10.35-11 p.m. Dance Music.

KING THANKS SULTAN

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