1935-06-27 — Page 19

SILVER MARKET NOW FIRMER

AMERICA BUYING IN LARGE QUANTITIES

WASHINGTON OUTLINES

ITS POSITION

Despatches from London, through Reuter, state that India and China bought and sold silver yesterday. America, it is authoritatively stated, was a buyer, and the market was steady. After the official fixing the market was firm.

America bought at the fixed rates, while London speculators paid up to one-eighth over the fixed rates. Spot silver declined one-sixteenth, however. New York silver was steady at 69% and the Bombay market was steady, rising from 72 rupees six annas, the previous day's close, to 73 rupees nine annas at the open- ing and closing at 73 rupees fifteen annas, after touching 74,"

Messrs. Samuel

Montagu in their silver report state that silver's recent decline has been mainly due to re-selling by the India Bazaars, but there has also been re-selling on the part of China and speculators generally.

At lower rates, substantial pur- chases were made, presumably for the American Treantry, this enm- pany reports, and there has also been Home buying 121 China's necount.

AMERICA'S POLICY

should make conditions healthier

in the market.

The immediate outlook is un- certam and depends largely on whether the Indian Bazaars will Continue re-selling

THE HONGKONG

TELEGRAPH. THURSDAY, JUNE 27, 1935.

MOLETOMARINESANICO ISTOTNYA MANHATTAN TREE

BOROTRA TO FIGHT DUEL

Accepts Challenge Of Journalist

London, June 26. Jean Borotra, French tennis star, at present play- ing

Wimbledon, at

has accepted a challenge to a duel sent him by M. Poulain, a Paris tennis writer. The challenge is the result of a letter writ- ten by Borotra expressing re- sentment of Poulain's critic- ism.

Borotra has named Rene Lacoste, French Davis Cup player, and General Alvin as his seconds. They will meet Poulain's seconds and decide who was the offender and therefore who will have the choice of weapons.- Brater,

32333463715697121C342882AFIJALANAN KRONISCOUNTER

“PEEPING TOM”

STABBING INCIDENT

SEQUEL

Aftacked by a crowd when in the hillside near the pumping station company of a lady friend on the

in Pokfulam Road on June 4. Chan and wounded one of his assailants. Chin, unemployed, drew a knife

who had to be admitted to hospital, from where he was discharged a few days ago,

The incident formed the subject America is not showing any in-causing grievous bodily harm to of a charge against Chan Chla of Washington, June 26. clination to pross, but it is likely Lau Kee, a P.W.D. coolie. From authoritative sources here that further support from this

The

defendant pleaded self- comes the opinion that the recent ¦ quarter will he forthcoming, es- decline in silver priers is simply pecially, if prices are inclined to before Mr. Schofield, at the Central defence when the case came up a technical readjustment of the|sug-Reuter.

Magistracy this morning. world markets and which conforms

He said he was attacked by a crowd. The with the current conditions of! supply and demand,

torch, and then the others struck complainant struck him first with him with their fists. He begged of them to desist, but they continued, He threatened them with a knife, but they sprang at him, and he used the knife on the complainant. Inspector A. 1. Elaton said the police agreed with the defendant's story. It appeared that the de fendant was with his lady friend on the hillside outside the pump-

unaware

came aut and shone a torch on

i

BRITISH. POLICY ATTACKED

(Continued from. Page 1.)

Government obtained the whole plcture of the situation it would ad- mit that the agreement had been to the ultimate interest of France. -Reuter Special.

BEATTY APPROVES

= RADIO

BROADCAST Have you seen

Jazz Banjo and Piano Recital from Studio

Orchestral

London, June 28. During a brief debate in the

Z.E.K. PROGRAMME House of Lords, Admiral Lord

From Z.B.W. on a wavelength of Beatty welcomed the Anglo-355 metres (845 kilocycles): German agreement. A gesture of 12.30-2-16 p.m. European Recorded the kind Germany had made did Munic. nway with all possibility of com-

5-7 p.m. Hongkong Hotel Dance petition in armaments and rivalry

Orchestra.

7 p.m. Stock Quotations. on the sen between two countries.

7.03-7.30 p.m. Light Tho agreement for thirty-five per Music.) cent. of Britain's strength Gounod in Vienna (arr, Walter). established a permanent relation- Love's last word is spoken (Ilixia). ship and ensured that with

Marie Louise (Meinel). least one country in the world there would be no ecmpetitive building which was something to be thankful for. Another effect of the agree ment was that there would be no repetition of ruthicas submarine warfare in the future.

nt

The Opposition, leader, Lord Ponsonby, confined' his criticism to the method adopted in conclud- įing the agreement and declared

that it was in essence not a armament but A rearmament agreement.

dis-

in

Waltzes from Vienna Selcetion (J.

Strauss). Policeman's Holiday (Ewing). Parade of the Tin Soldiers (Jesuel).

7.30-8 p.m. From the Studio. A Jazz Banjo. Sax and Fino Recital by Fred-Carpio. Terry Lou and Julian Silverio.

Programme

1. Lolly Popy

3.

Rusty Strings....Banjo Solos. Plano Solpa:

Finesse.

My heart is an open book

Julian Silverio.

Chopin Waltz.

Imagination Terry Lou,

4. Basin Street Blues.

Blue..."The Reveller's Trio," 8 p.m. Time and Weather Report. 8.03-10.30 p.. Chinese Studio Concert.

10.3 p.m. Close Down,

ZE.K. PROGRAMME

8.10.10 p.m. European Recorded 640 kilocycles, Music from Z.E.K. apa frequency of

4.00-8.66 pm. "Cass Noisette" Suite (Tschaikovsky) Played by the B.B.C. Wireless Symphony Orchestra cond, by Perry Pitt

GOVERNMENT POLICY Lord Londonderry, replying for the Government, said the restora- tion of confidence and prospects be most effectively promoted by a of peace amongst nations would

general settlement freely negotiat- Powers, The Government would ed between Germany and other

adhere to that view, which, affect, they rearmed at Stresa, but as a practical people they had to face the facts of the situation. her naval strength beyond the Germany was already increasing

8.56-9.15 p.m. Variety Ensemble limits imposed by the Versailles Treaty,

Singing. The Gaveriment Tea for Two ("No, No Nanette"), moting that general settlement to I'm on a See-Saw (Jill Darling"). believed the best method of pro Whispering Comedy Harmonints. which the London referred was not to enter upon

Louise Browns and Join Mills. commtanirquet

Rock and Rull ("Transatlantic building. but to further period of competitive Oil Leo Transatlantic

Merry-go-round").

Merry-go- Found") The American Eton Boys. agreement with Germany to cir- cumscribe

Feminine Pancies decision announced by Germany. the effects of the

The Carlyle Cousins. it was in those circumstances that

9.15-9.30 pm, The New Mayfair Germany undertook to limit the ablestones of Metody. future vize of her Navy to thirty. The Cat and the Fiddle-Selection five per centy of the British fleet. provided that the British Govern- ment nerepted that limitation.

endeavour by

CHANCE NOT TO BE MISSED To have missed this opportunity of limitation in the sphere of

chance of

Orchestra.

9.30.10 p.m. Dance Music. 10 p.m. Press Bulletins. 10.05 p.m. Close Down.

(Kern).

RAW RUBBER

SHANGHAI VIEW

Shanghai. June 26. The Finance and Commerce, in It is very apparent, they say, its

week ending report for the that silver has been offered for¡ June 22, inter alia, states:--. salo faster than the United States "The local exchange market has Treasury and other buyers have had a tired week, with a definitely been able to lake it.

eagler tendency throughout the Experts, however, profess them- period under review, whilst busi- selves totally

of the heas has remained very restricted

"Speculators have been on the main source of selling, which by most has been attributed to India.ying side and exchanges cased From authoritative information i in sympathy with the price move- It has been learned that nothing ments of the world's silver maring station, when the complainant. has happened recently in Washing-hets. It has been harder than who was employed at the station, ton to cause a decline in silver ever to find forward cover and the prices. Recent eventa, however, majority of banks were reluctant them, and then threw stones at have undoubtedly indicated that to sell anything for delivery fur-them. There was a quarrel, and he said, to miss a

naval defences would have been, the Treasury does not desire to ther forward than August. There other friends of the complainant eliminating, we may hope for all play into the hands of speculators, has been

in evidente a certain attacked the defendant, who drew time, that fatal ermpetition The fact that Congress is now amount of official selling to steady out his knife and stabbed the first naval armaments between Ger- nearing adjournment with no ap-the market from time to time, but of his assailants, who was the com. parent prospect of any new silver this had rather a half-hearted applainant.

The wound was a deep any and this country which did enactment may be taken nan de-pearance.

one. and defendant's action in

so much to poison the atmosphere pressing, influence..

been genuine buyers, hut not en stabbing was a vicinus one

a quarter of a centurg Lago.........It The The proponents of the silver a very large scale,

defendant himself was bruised on

would be a great mistake "On the whole, however, rates his lip and face, and the girl, who policy in Congress have encoun-

that, in accepting the July tered several political obstacles have been down, but the amount of had joined in the fight, was also agreement with Germany, the Det/bee in furthering their purpose, business transacted was not very lightly bruised. The complainant Government had done anything Jan/Mar

In addition they have been sub-large, several banks being virtual was playing the role of a peeping to prejudice the situation of Market:--Dull. jected to severe criticism in view by out of the market."--Brutir.

Tom," although he claimed that other naval Powers, was defending the station,

of the fact that the appreciation of allver is said to be disadvant- ngeous to China. Also they are faced with the fact that the United States farm exports have declined; during the past year since they | have been pursuing their silver purchase policy.

The secrecy surrounding the Treasury's operations in the silver !

..

Messrs. Sassoons have

Copper Price To Fall?

TRADE INTERESTED

policy, plus the fact that there is IN DEVELOPMENTS

of

ne time limit for the attainment the ultimate object of the

New York, June 26. policy, the three to one ratio with

The United States Copper Asso- gold, serves to nccentuate the con- ciation has derided to contidue only tinual speculative aspect of silver, reporting members' sales for statis- Administration officials do not tical purposes, but to drop co-opera- or cannot clarify the Treasury's tive measures such as sales quotas, policy because it is the Treasury it-buying agreements with fabricators self which is buying the silver United Press.

and price reports, with a view to keeping the industry from attack by price fixing.

of

LATEST SINGAPORE

PRICES

Potts

CUT-

Messrs. Benjamin whil revived the following Straits rency quotations (buyers) from Singapore to-day tor raw rubbert- To Spot

20 cts, down 4 et. 20% ets, down 1⁄4 et. B1 els.

The Government believed that

22 cts.

do

Mr. Schofield bound over both by setting a fixed point of de-the Washington and London Trea- the defendant and complainant in parture for. fatare discussions,ties on December 31, 1936, thirty- personal bonds of $100 each to be both as regards British and Gefive per cent. of the British toin! of good behaviour and keep the man armaments, they had done af capital ship, cruiser and des- peace for one year, remarking that a great service to other Powers,uer tonnages would be 166,163 the defendant's action was justi. In precisely the same manner, iftons, 118.650 tons and 52,500 tons Bable.

those other Powers could succeed respectively. On the same basis, in coming to an agreement with orty-five per vent. of the British Germany in regard to land or air Submarine tonnage was 23,715 tons. Thirty-five per cent, of the armaments in such a way as not to commit this country

British tonnage allowed by these to any

Treaties on the same dafe would Govern- particular strength, the

be 103,008 tons. rent would believe they had done us and the rest of the world Sir Belton said the Deutschland Answering a further question, service.

U.S. COMMODITY PRICES

LATEST CABLED

QUOTATIONS

on the

Before the agreement whs con-

and her sister ships were, under cluded, the French Government the treaty definitions, in the in common with other Powers capital ship class and would re- main in that category under the signatory to the Washington

definition proposed for a future treaty in the British draft dis-

The following quotations New York commodity wxchange are Treaty, were informed on June 7. Issued by Reuter:

of the outline of the agreement i

and were invited to communicate any observations they might de- sire to offer. The French view

New York Cotton

June 25,

11.5

11.24 11.26 11.29

June Hil

11.01.GE 11.29/0 11,300

11.35

11,308 11339 1138708 11.90 11.95

MONTAGU REPORT

London, June 26.

The market is thus entirely open' Messra, Samuel Montagu and for the first time since the autumn. Company in their report for the Custom smelters have no prefer- July past week, say: The sharp decline ence sales quotas, and the trade

October in silver prices has been mainly is awaiting price indications most December due to heavy re-selling by the interestedly.

January (1986) Indian' Bazars, but there has also As the result of the abandon- March been re-selling on the part of ment of Copper Code practices, May China and speculators generally, trade circles expert an early reduc Spot

At the lower level of rates, sub; too in the

copper price. The stantial purchases were made, opinion is expressed that some presumably for the American sellers would reduce the price in-

July Treasury, and there has also been mediately but for the fact that June December

September some buying on Chin account. 30 is inventory time, before which January

The bull position is still large, date producers

are reluctant to March but liquidations during the week! mark down Inventories.-Reuter. Total sales: 330 lots

DAY BY DAY NEWS IN BRIEF

OPPOSITION MAY INFLAME THE

The P. and O. liner Mania is to ENTHUSIAST, BUT NEVER CONVERTS | berth at Buoy A1 on arrival and, will all therefrom at noon on Saturday. HIM. Schiller.

The concert announced to be given ut the European Y.M.C.A. on Sundiny, June 30, will not take place.

ho

New York Rubber

12.3.4 12.00/25 12.510 12.37/36 12.60739

12.71 12.78 12.87 12.05 12.82/84

was received before the ngres- ment was munde. but their criticisms did not appear to be of auch a character as would justify the British Government in with holding its conseal to an agree ment which held such promise for the peace of the world.

EFFECT ON FRANCE

of

Taking France's present naval - strength at about, fifty per cent. of the British naval strength, the Chicago Wheat.

agreement afforded to France at present levels a permunent super- July

70 HO S0% September

794 HIG H

iority of about forty-three per- December ........

82 833%

over the German Navy, 834 cent. Tuesday's sales-16,112,000 bushel, eompared with an inferiority

some thirty per cent, before the Chicago Com

82

The Government believed that 70%% 76 76

when the French Government G11053 £315 14.-..

were able to review the situation a whole through expert re- $1814314-presentatives, whom it was hoped 8 they would appoint for this pur- pose, they would admit this stop has been in the ultimate interest of France.

Winniper Whoat

July Fines totalling $655, with the December.. Septeraber alternative of six months'

hard labour, were imposed upon, Cheung Hung, 24, unemployed, by Mr. July. The forthcoming wedding in an Wynne-Jones

the Kowloon August nt nounced of Mr. Cécil Pratt, elerk, of Magistracy this morting when Pak-Jik-Hok, Canton, and Mis pleaded guilty to (n) distilling Bertha Mills, sales lady, of Jardine's Chinese spirits at No. 660 Shanghai July Wharf, Canton.

Street without a licence; (b) posnes-September ion of a still and apparatus; (e) December The attention

and possession of fermenting materials; Total sales:--59 lots Motorists of

DOAsession molor-cyclists in drawn to the Traffe and (d)

Gf-dullable Dept. notice concerning the. renewal

*pirita Revenue-Omeor of motor Heences. To avoid un Humphreys, prosecuting, stated that July necessary waiting, such licences may when he visited the fat the still was September be sent by post to Police Hend actually working. Work was carried December quarters accompanied by a crossed out at night and sight gallons of January, cheque covering the necessary Loca. Papirits were distilled each night.

Chinese

8.....

812 8211

New York Bilk

1,32. 1.814 181 1.32 1.91

1.3 1.31 1.30% 1.31

Montreal Silver

39.40 59,60 70.00 70.10/10 71.30 71.00/35 71.30B 71.40 Total salca:-198 contracta..

WIN,

COMMONS QUESTIONS Several questions on the Anglo- German agreement were answered in the House of Commons.

The First Lord of the Admiralty, Sir Bolton Eyres-Monsell, said that on the tonnages allowed by

armament convention.

The Foreign Secretary, Sir Samuel Hoare, replying to a ques- tion, sald the conclusion of a general armaments agreement to replace, so far as Germany was con- cerned, Part Five of the treaty of Versailles, remained the object of His Majesty's Government's policy. The Government believed that the Anglo-German agreement would facilitate the conclusion of a gon- eral agreement on the subject of naval armaments.-British Wire-

lean.

∙KILL Mosquitoes

SPRAY

FUT

FLIT

The VAN HEUSEN COUNTRY SHIRT

with Semi-stiff VAN HEUSEN Collar attached

A ONE PIECE GARMENT IN COAT STYLE FOR BUSINESS AND

SPORTS WEAR

White, Gray, Blue and Fawn.

$6.00 each.

Less 10% discount for cash..

MACKINTOSH'S LTD.

Men's Wear Specialists.

CLEAN YOUR CARPETS

AND RUGS THOROUGHLY

BEFORE STORING THEM

FOR THE SUMMER

ARTS AND CRAFTS

ARE SPECIALISTS IN

THE VACUUM CLEANING

AND SHAMPOOING OF.

CARPETS & RUGS.

SATISFACTORY SERVICE AT

MODERATE CHARGES.

ASK FOR PRICE LIST

ARTS & CRAFTS

CARPET CLEANERS & STORERS

SO SHAURIWAN RD., NORTH POINT.

NO MATTER HOW LITTLE

TEL. 24178

CHEVROLET/

YOU SPEND ON A CAR

BE SURE THAT YOU GET YOUR

MONEY'S WORTH

THAT'S WHY WE URGE YOU TO SEE AND DRIVE THE NEW CHEVROLET STANDARD

SIX

BEFORE YOU BUY ANY LOW PRICE CAR ! ...

You will get your money's worth and more to own' one of these Chevrolet Standard Series equipped yith such outstanding features as:

NO-DRAFT VENTILATION SILENT SECOND SPEED DOWN-DRAFT CARBURETON

BODY BY FISHER

· ADJUSTABLE SUNSHADE SAFETY GLASS

SUPERIOR LEATHER UPHOLSTERY 6-CYLINDER VALVE-IN-HEAD MOTOR S.A.E. 26.3 HORSSEPOWER

24 MILES AND MORE TO A GALLON

FAR EAST MOTORS

יו .

26, Nathan Road, Kowloon, Telephone 59101.