1935-05-29 — Page 7

RECOVERY. PLANS BLOCKED

(Continued from Page 1.)

hours and the abolition of child

labour to be enforced

FUTURE COURSE

THE HONGKONG

BRITISH FINANCE. NEW YORK STOCK

OUTLOOK

INCREASE SHOWN

IN REVENUE

.

ex-

London, May 23. Exchequer returns for the cur 'Washington, May 28. Amid the confusion of a capital rent financial year up to May 25 figuratively atrewn with the wreck-show that the total revenue,

self-balancing items, cluding age of the New Deal's No. 1 Ex- amounts to £87,158,829, ns com periment, the Administration hos abandoned all attempts to enforce pared with £81,734,575 at the

corresponding date last year. the N.R.A. but, has appealed to

to business to observe Its rules volun- tarily. It has followed this up with a series of conference to chart

its future course.

While there is not the slightest hint as to what President Roose- velt intends to do, the impression prevails that he is determined to re-establish in a legal manner the principles of collective bargaining, minimum wages, and maximum work hours, as well as the abolition of child labour, with a view at least of preserving N.R.A.'s brondest objective.

Observers are speculating on the possibility of President Roosevelt addressing the country soon by radio, but the question na to what industry will do is naturally upper- most. Industrial leaders generally agree that the N.R.A. decision will have many stimulating and few ad. | verse effects on business in the

future.

VARYING VIEWS

In some industries, notably the automobile industry and in retail trade, the initial reaction Indleates clearly that the decision is welcome In a few, notably the textile, coal and fertiliser industries, where elaborate provisions of Code control have been built up, there appears a fear of a resumption of price-cut- ting and wage-alashing, with re- sulting unsettlement in prices.

Expenditure, owing mainly Increased coat of supply services, has been heavier than the COF- responding period of last year, The relative totals of expenditure, excluding self-balancing items, เพื่อ £105,280,261, HA against £98,771,040-British Wireless.

SWEDISH RIKSDAG

RECORD

BRITISH PREMIER'S

CONGRATULATIONS

London, May 28. In connection with the 600th

of the anniversary

Swedish Riksdag, the Prime Minister, Mr. Kamsay MacDonald, has sent the following telegram to the Swedish Prime Minister: "It gives mú great pleasure to convey to you, in the name of His Majesty's Gov- ernment of the United Kingdom, nur very hearty congratulations to the Swedish Parliament, which for

GOO

years has rendered

such

valuable service to the cause of constitutional liberty. British

Wirclesa.

RACE AGAINST TIME

DASH FROM 'PLANE TO PRES. TAFT

The general feeling in most felds seems to be that the elimination of N.R.A. restrictions will make but slight difference, and the industries can return to the pre-Code basis with little diealty. However, no hurried abandonment of prevailing

Flying bout, car, and liner trans- practices is anticipated. Leaders port followed in quick succession of Individual industries are gener- for the two members of the Ameri- ally loath to make any statement can Economic Mission who arrived formally, but, as far as it is avail-in Hongkong last night. able, a cross-section of opinion is as follows:

concerned. They ad-

EXCHANGE

MARKET BULLISH

YESTERDAY

New York, May 28. The following reports on the New York Stock market have been received through Messrs. Swan, Culbertson & Fritz:

TELEGRAPH. WEDNESDAY, MAY 29, 1935.

The Wall Street Journal report on yesterday's market: Stocks to-day opened bullish and were sharply up. ward, led by utility shares. Later, prices declined on short covering on a regarding the N.R.A. and the bellef 4 reappraiament of the Court's decision

established. Shorts hammered cop that severe competition will be re- į per, tobacco, alcohol and silver insues, Stocks on the Curb Exchange were sharply downward, with the exception of uillity inues which were Brit. Bonds were actively lower, led by retiroad lasues. Foreign bonds were firm, except French securities which

were downward.

F.

LONDON STOCK

EXCHANGE

LATEST SHARE

QUOTATIONS

on

RADIO BROADCAST

From the Studio

The following_quotations the Vocal and Pianoforte Recital London Stock Exchange have been and Fritz in conjuncilon with Renter. received by Messrs. Swan, Culbertson

May 27. May 28. British Government Securities War Loan

redm. after 1962 £105 £105

Chinese Bonda ́,

4%% Donda 1898

(Eng. 188)

5%

bc Bonda 1026-17 £90

S'hai-Nanking

6

Rly. 5% Tient.-Pukow Tient.-Pakow Rly... £31

5

C. & New York office cables: With the exception of a rally and sub-6 erquent irregularity, Traders were confused. Kroger sales were up ↑ per cent. for the month eating May

28.

New York and Chicago commodity

received reports

through Messrs. Swan, Culbertson and Fritz:

Cotton: There was Fame heavy October trade buying of July ani cotton. Outside interests were quiet, waiting the completion of selling, which was largely on foreign account.

The Journal of Commerce rays that there are many stimulating factors, but few adverse effects in connetion with the Court's decision regarding The publication believes that the decision la constructive and the NRA. conductive to business confidence. No decision by the Agricultural Ad- justment Administration is probable Allied Iron Found- Associated Elec. Whent: The worket WHOL

Industries

until the Autumn.

more

two-sided, but the tendency appears

to he gradually, lower.

Corn; We would sprend sales of December corn and purchase Decem- her rye nt 7 cts, and under, which uppents to be attractive,

I'M

Austin Motors

ali.

EUROPEAN PROGRAMME

From Z.D.W. on a wavelength of 355 metres (845 kilocycles):

4-7 p.m. Chiness Programme.

7-7.80 p.g. Orchestral Musle.

Preludes--Symphonie

(Liszt).

Poem

Night on the Bare Mountain (Mous-

Borgsky).

Hansol and Gretel (lumperdinck). La Valso (Ravel),

by

7.30-7.43 p.m. Four Songa Stuart Robertson (Baritone). 1. My- self when young (Lehmann); 2. Silent Moon (Vaughan Williams); 3. Bright is the

ring

of words (Vaughan Williams): 4. The Roadside Fire (Vaughan Williams),

7.43-8 p.ra. Light Opera. Solection-Tho Beggar's Opera (Gay), Vocal Gema-Maid of the Mountains

(Fraser-Simson).

8 p.m. Time and Weather Report. H.039 p.m. Varioty. Piano Solo-Stars fell in Alabama.

Carroll Gibbons. Vocal-Feminino Fancies.

The Carlylo Cousins. Song-You and the night and Music. Leslie Hutchinson. Piano Solos-A Cavalende of Martial

Tunes. Piano Solus-Sweetment Joe the

Candy Man1.

Patriein Rossborough. Vocal-low am I Doin' Hey, Hey, Vocal Heard.

The Mills Brother. Violin Solo-Grinzing,

Albert Sandier. Song Just by your example. Song-Dancing on the Ceiling,

Jessie Matthews (Soprano), Vocal-Dan Dan the Yodelling Man.

| Vocal-Sitting in a Jail House.

Harry Torrani (Yodler). Organ Solos-Musical Comedy Medley. Bydney Gustard. Instrumentai-Shine;

Sweetle My went away; Sweet Jenny Lec. Band-The Man 05 tho Flying

1024

Loan 1908. £ 8

Loan 1012...

80%

98% 102

£80

LCB

Reorg Long

1913 (Lin. Ins.) £ 97%

£ 97%

£951%

£86

£ 8616

£ 31

Railway (Supt.

S'hai-Il'chow-

Loan). £ 27

£ 27

Ningpo Hly

£102

£102

55%

Hukuang Itly.

Hunan Kly. · 2 30

£30

1011

£ 484

£ 184

GC

Lung Ting U. Hal Rly. 1013. £18

Foreign Bonds and Blanks German 7 Int, Lonn 1924 **

I 63 £ 63 Japan 6 Sterling

Lonn 1907 £ 8331 # 83% Japan Sterling I.K. & Sani Bk.

Loan 1824.... £ G £ 00

(Lan. Regd.) £129 1234; Chartered Bank P5

wh.

£ 11% £ 14%

Commercial and Industrial

£18

2/3 18/3

43/6 13/6

28/414 28/0

62/3 48/8

125/7*

125/71%

97/6

11/3

17/2

17/6

56/6

56/7/

93/6

04/-

43/7

43/3

28/9

20/9

50/-

May 27. May 28.

30/3 30/- 15/15 35/14

8/71% 8/7 138/14 138/1

110.74 110.76 32.00 31.44

19.32

105.43

DR.28

no par val $ 20% Italia Royce i 19.56

161/3

$ 29%

152/8

58.410

$7.70

S'hai Elec. Constr."

48/...

Tate & Lyle....

83/7! 13/0

Turner & Newal

50/6 BO/-

United Steel

2293/

29/1

Vickers ord.

13/3.

13/46

Watney, Combe &

Reid def. ord.. Woolworths .....

72/-

72/3

111/~

113/9

Miscellaneous

Anglo-Dutch

23/5

Rubber

23/9

23/9 23/0

Pekin Synd. 2-

ord: sh.

1/9

|

Bubber Trusts

31/9

170 31/6

Mines

873

10/116

13/- 10/0

03/0

53/G

7/-

7-

-45/-

40/-

273/0

272/6

113/9

108/9

Oils

01/10% 02/6 79/4-70/1

tubbers Selling to-day was large ly speculative, Conatinera ure show- ing some interest, but they are await- ing the monetary outcome in France. Sugar: There was confidential sale of a curge of Porto Rienri sugar (out of the 1938 quota at 820 cents. We would accept profits on modernte rallies,

$1

REUTER QUOTATIONS

STEEL INDUSTRY Althought lending steel men have been strongly in favour of continuing the NRA., they do not appear to be unusually disturbed by the decision. Privately, several insisted that the decision would The preliminary booking had to | PEIHO CONSERVANCY not upset

the situation to any be done by telephone as no book- extent as far as the large comings could be accepted after 6 p.m. panies are

Mr. Bixby and Dr. Jones arrived mitted there might be some price on board only 20 minutes before QUESTION ASKED IN COM- shading among, the smaller pro-the boat was due to call. It was MONS ABOUT SILTING ducers, as consumers would again expected that the two members shop around for the heat quota- of the Economic Mission would

London, May 28. tions.

arrive to-day in an attempt to join In the House of Commons Mr. However, it is confidently felt the President Taft which is Lunn (Labour, Rothwell) asked that there will not be any resump already carrying Mr. T. Y. Wick whether any representations had tion of large-scale price slashing.liam, another member of the Mis-been made through the Chinese Some consumers, unless urgently sion: it was not expected, however, Government to the North China needing tonnages, might

that there would be such a race ceivably keep from the market against time as actually occurred. pro tem, until the effects of the

The lying boat, immediately decision are clarified.

after landing its passengers, act out for Canton in an attempt to

Captain Eden replied that the reach there before nightfall. It had flown from Shanghai almost reason was that the scheme for the prevention of silt reaching on schedule despite the extremely bad weather conditions which pre-Tientsin had proved Ineffective, valled until only about half an hour and representations had been made in this connection to both the Contral and the local Chinese authorities. Sir Alexander Cado- gan and the Consul General were in close touch with the situation:

Reuter.

Landing at 6 p.m. at Kai-tak

Dow-Jones Averages: aerodrome in the latter's Douglas flying boat Dr. Lonls C. Jones and 30 Industrinis Mr. Harold Bixby, having down 20 Ruits from Shanghai, were hustled into 20 Utilities a taxi and run

to the Kowloon 40 Bonds

11 Commodity Intex wharf where they had to book a passage on the President Taft, leaving at 6 p.m. for Manila.

OIL INDUSTRY

con.

The three members of the Mis- sion will spend a short time in Manila before going to Shanghai where they will join the other members and probably leave for Amerien on June 18.

The major oil company execu- tives are of the opinion that the Petrol Code is for all practical purposes dead, but that with the existing tight State law, the before it landed. Inter-State oil compact, which awaits only Congressional ap- proval, together with the Copnal- ly law, are perfectly suflicient to preserve the Industry's stability. On the other hand, part of the Thomas Ol Bill at present pend- ing in Congress, which would extend Federal regulation of pro- duction, is considered probably likewise outlawed by the Court's decision.

one of dis-

LIFE IMPRISONMENT

River Commission that Tientsin was practically closed to ocean going ships, which were compelled to unload at Tangku at henvy cost to British shippers.

EXCHANGE RATES

Faris..

COTTON TEXTILE INDUSTRY

The first reaction in the cotton textile industry was appointment, with fears of the G. B. Park, has commuted possibility of a disastrous out-death sentence on Walter McGee Amsterdam. break of price-cutting, but this for kidnapping to one of life im- Vienna.. feeling is not general. Some, risonment. notably those previously resenting

Prague.. The victim, Miss Mary McElroy, Bucharest. N.R.A. control, express the opinion recently appealed for mercy. Madrid. that it will be beneficial in the United Press.

Lisbon. long run.

Mary McElroy, 26, daughter of Ilongkong. Leaders of the cotton textile Henry F. McElroy. City Manager Brussels.. Industry will shortly meet with of Kansas City, was kidnapped Buhay. view to determining the full effect early in 1933 and ransomed for Montevideo.. of the decision and to prepare 4U.S. $30,000. This was one of the Belgrade.. new plan to be submitted to the frat kidnappings after the Intro- Montreal.. industry.

duction of the death penalty for Helsingfors... this crime.

SENTENCE ON KIDNAPPER COMMUTED

tier.eva.. Berlin.. Jefferson City, Mo., May 28.

Athens.. The Governor of Missouri, Mr. Milan..

the Shanghai.

CANTON MORE FAR

ARMOURED CARS IN STREET BATTLE IN OHIO CITY

་

May 27. May 28. .73.7/32 16.30%

991 13.27%

.75.15/04 ..15,33 .12.30

$20 004

1/8.6/16

Boots 5/-sh. British-American Tobacco.. Chinese Eng. and Caundian Celanese

Min, (Bearer) Courtaulds Distillers Dunlop Rubber.. Electrle Musical

industrica General Electric

(England)... 50/- Hawker Aircraft Impl. Chem Ind. Irad, Chem Ind. bef. 19/ ... Impi. Tobacco... Internat. Nickel

Burma Corpus, Rs.

10 Commonwealth

Mining Randfontein

Estates Spanrwater Gold

Mining Spring Mines Sub-Nigel Rhukana Corpn..

Anglo-Perslas Barma Oll Shell Trans and Trad. (Bearer)

71/10 71/3

U.S. COMMODITY

PRICES

LATEST CABLED

QUOTATIONS

The following quotations

on the

New York commodity exchange are

Issued by Reuter:

New York Cotton

May 27. May 28.

110 January (1938) 11.78

36.9/32 May

110%

..

New York.

.022 .CO% .1/8.5/16

7.7234

4.04% July

11.07 11.85/86

7.314 October

11.70.

11.55/50

.254 .119

ASTA

264 December

11.71

11.GO/GO

11.02/02

487 March

11.79

11.05/65

11,82

11.67/67

110% .2/5/%

Spot

12.30

12.20

Now York Rabber

12.77

12.834

12.96

13.18

13.28

13.43

12.60/50 12.82/80 12.02/02 13.08a

"

Chicago Wheat

33.11/16 May 33.15/16 July 106.0/13

KOK

8734

87

BO 87'4

optember

AB

December

28% DON 00%

Chicago Corn

Yukahama-

2/54 20.97%

29.0914 .1/0.5/32 1y6,5/32 May July 3914 September 219 December 4.94% January 926 March

1/2.3/33-172.3/32-

218

.-1.91% 22641 RIO....

.41⁄4 Buenos Aires. .15 Silver (Spot)....33.15/16 Silver (forward), 34.3/16 War Loan...... 1054.

-British Wireless,

WATER LEVELS

AUTO INDUSTRY The automobile industry, which has suffered impaired profits owing to the sharp increases In labour and material costs under N.R.A., will probably derive some gnine from the decision, which,| moreover, will not be offset by the loss of any competitivo ad-

Canton, Ohio, May 28. vantages, as the Auto Coda does not contain

Fourteen are in hospital with any trade practice

bullet wounds and fractures and nor price control provisions.

A continuation substantially of concussions from blows, after a the present course in regard to miniature battle arising out of wages, work hours and working the strike at the 'works of the conditions is expected in all Berger Manufacturing Company. major industries. The copper in- An armoured car full of un-West, North and East Rivera ( dustry will most likely agree to identified mon, armed with re- continue the most important parts volvera and anwed-off shotguns,

FOR WEST, NORTH AND EAST RIVERS

134. Total sales:-002 lots

10

Trapeze.

9-9.30 p.m. From the Studio. "Half an Hour" of English Music. Singer: Mrs. J. Anderson Miller. At the Piano: Lt. Col. C. H. Kuline, b.8.0.

Programme

1. Plano Solos:-Five short pieces for old Keyed Instruments Gibbons. (4) Fantasia; (b) Galliard; (e)

by

Orlando

A Fancy; (d) Durotto; (e)

A Toy

2. Songs:Hark! the Echoing Air,

LOUNGING SUITS with Cossack Collars 、、、、、、 from $8.50 SLEEPING SUITS long or short styles from $4.50, $7.50 LOUNGING ROBES of art slik and

cashmere from $17.50

LEATHER SLIPPERS

in all sizes and colours from $7.50

for your hours of ease

A

ALL

LESS

25%

DISCOUNT

until next

SATURDAY

MACKINTOSH'S LTD.

Men's Wear Specialists.

CHEVROLET KNEE-ACTION

retained by popular request

includes 3 great

IMPROVEMENTS

1. The gliding ride-no bumps, jar or bounce.

2. Shockless steering-arnazing new ease in car

control at all speeds.

The Knotting Song, I attempt 3. Much greater driving safety-in emergency

from lovo's sickness, to fly (Purcell)..

3. Plano Solos:-A deep sea cave,

(William

Baines); Mazurka and Waltz for a little girl, (Delius): Sir Nicholas' Caper, (Robin Milford).

love my God,

4.); Goddess of Night,

(Herbert Howells); Song of the Palanguin Bearers, (Mar. tin Shaw).

5. Piano Solo: "Nimrod" No. 9 of

tho

Variations,

(Elgaria" p.m.

0.30-9.30

Rosenkavalier

Waltzes" (Strauss) played by Brune Walter conducting

harmonic Orchestra.

and at other times.

the Berlin Phil-

A

Your present car.

9.40410 pm. From the Studio. Violin Recital by O.Y. Lyon, accom

Professor E. Gualdi. panied by

Sonata No. 18 in F Major, (Mozart).

10 p.m. Press Bulletins.

10.05-11 p.m. The Hongkong Hotel Dance Orchestra.

10.30 p.m. Press News.

11 pm. Cloeo Down.

Well Again!

Thanks to

Baby's Own Tablets.

When your little one is down with 1248/50ummy trouble, feverishness, or-a-

cold, has teething pains, or is restless, and generally out-of-sorts, just give him a dose of Baby's Own Tablets, and almost surely you will And him bright, cheerful and well again in a remarkably short space of time.

Originated by a doctor as the result 88% of many years study of children's 004 ailments, Baby's Own Tablets have

Monday's sales:-18,310,000 bushels i proved the ideal health corrective for

May

July

September December...

8374 8374 83 78 784 781 1 714 71% 61% 61%

Monday's alca: 12,411,000 bushola Winnipeg Wheat-

May

infants and young children. With gentle laxative action they cleanse the little one's stomach and set diges- tion right, thereby soothing the nerves and relieving teething pain. Easy to 01 administer, for children like them on cebunt of their pleasant taste, Baby's Own Tablets are unsurpassed for the 83% 63 83% speedy correction of the common all- 8476 F43%

ments of young children, such as-con- New York Slik

stipation, indigestion, wind', vomiting, 1.384 1.36 1.37

colic, croup, colds, sleeplessness, to 1.35 dispel worms and relieve the pains of 1,37% 1,36 1.8614 1.30

teething. 1,35

The River Conservancy Commision for July Kwanatung Provines laues the follow!tar res port on water levels, in English fest, for the

July September December

Total' sales:-120 lots

Place

of Observation

of the Copper Code, principally suddenly appeared from inside went liver the curtail- the works. They swept the by- at Shluking those dealing with mont of production and stabilisa-standers with a ball of bullets North River tlan of the market. Most pro- and a hand-to-hand fight ensued. Worth River

“The "armoured"""""car's crow Shahut- ultimately escapod.--Reuter,

at.Sheklung

ducora agres that the Code has been beheßcial-Reuter.

| East River

84%

Hlabest Lowest

on

W. L. W. X

recond

vn

record

May May 27 28

$41.0

ด

22.1 21.0

Montreal Silver

May

75.60

73.60

4-26.0

14.7.13.2

July ......

70.36

78.85

+27.6

15.8 24.4

September.

78.50

74.10

Own Tablets,

December

79.00

76.10

+18.6

-2,1

8.6 7.9

Total les-01 contracts

Guaranteed to contain nothing in

even to way injurious Any

tho youngest or most delicate' infant, mothers may safely rely on

Baby's “They are sold-by chemists everywhere.",

Chevrolet is

the only low- price car with KNEE-ACTION

1935 Chevrolet

ONE RIDE IS WORTH A 1000 WORDS.

LET US PUT A CAR AT YOUR DISPOSAL..

For test drives phone or call at

FAR EAST MOTORS

Distributors of CHEVROLET CARS & TRUCKS

CHEVROLET

26, Nathan Road, Kowloon.

Telephone 59101.

JACKIMOTES

SMOKE GETS IN

YOUR EYES"

B. B. C. DANCE ORCHESTRA

NO. C.B. 804

MAGIC NOTES

LEW STONE AND HIS ORCHESTRA

NO. M.R. 1503

THE ANDERSON MUSIC CO.,

LIMITED

SUNG NOTE Ice House Street

Tel. 21322

SAAGIS NOTES