1935-11-05 — Page 19

CHINA DOLLAR ENIGMA

HONGKONG ACTION HAS BEARING

EVEN EXPERTS CANNOT PREDICT RESULTS

New York, Nov. 4.

Bank and trade quarters continue reluctant to express opinions on the Chinese monetary develop- ments. It is held that just what the ultimate result of the attempt to use paper money will be cannot be fore- seen by anyone, as China is even less predictable than Occidental nations.

Traders fear that a demoralised currency in China' is likely to harm still further the dwindling American trade, while if a managed paper currency is successful no gains can be expected.

Financial observers do not attempt to forecast either the near term or long term repercussions. In- stead, the following questions immediately arise in their minds: 1. Will the Chinese people It is widely believed here that generally accept the new currency, the reversion of the United States and if not will the Government silver proponents and the absence have sufflelent power to force ae of most of them during the ad- ceptance?

journment of Congress will faci- litate the Government's plans in

programme,

2. Will the Chinese Government, with a view to supporting ex-this respect:-United Press, change. have to soll Immediately

PITTMAN'S VIEW Jarge quantities of silver, and if

Reno, Nov. 4. so would the U.S. Treasury be

Senator Key Pittman, Democrt confronted with a vastly increased supply, reducing its bidding price of Nevada, and one of the leading and thus courting renewed de proponents of the U.S. silver pur- to-day said, moralisation in the aliver markets? chase

3. Will the Hongkong Govern-China nationalised silver because ment take action analogous to the metal will be worth $1.29 with-

in eighteen months, that of Nunking?

"It is n 4. If Chinn nbandáns aliver per-

excellent thing for manently what will be the eventual China. If you had a stock of price of the metal?

anything priced at 65 cents which was certain shortly to reach $1.29, you would hold on to it until the price went up.

·

OPINIONS DIFFER Some are of the opinion that the quantity of silver to be sold:

"China had only two alterna-

THE HONGKONG TELEGRAPH. TUESDAY, NOVEMBER 5, 1935.

Italian planes are scouring the country in connection with the latest advance into Ethiopia. Pic ture shows a batch of machines being shipped at Naples for use in the war operations.

EUROPE TENSION EASIER

ANGLO-ITALIAN CONVERSATION

NEARER TO AGREEMENT

(Special to "Telegraph") (!ty Telegraph. Copyright, Telegraphe Me

Ontinnner, 1895. Reerived, November 9 n.m.)

London, Nov. 1. Sir Samuel Hoare, the Foreign Secretary, delivering an address to-day, said that the Government had been concerned over the ques- tion of whether the Italo-Ethiopian dispute might result in A Europeau war.

BRITAIN'S TERMS

Meanwhile it is learned in reli- by China for the purpose of tires. Either she could create a able sources that Britain has in- stabilising her currency will de-free market by removing the ex-Limated to Italy that two more pend largely upon whether the port duty or who could nationalise, divisions of troops, totalling 24,000 level chosen were natural

orShe nationalised silver because, fictitiously high or low,"

with the world price high there is too great an incentive to export."

He said that the Chinese mone- Anglo-Italian conversations at tary policy would have no effect Geneva will be resumed when the whatever on the United States Italian delegates arrive Tuesday sliver policy.-United Press. night.-United Press.

The consensus of opinion seems to be that the ability of the Chinese Government to control the situation is a paramount factor, and pending its demonstration is impossible to appraise curately the immediate outlook.

IC-

In the absence of Mr. Henry Morgenthau. Secretary of the Treasury, and the Under Secretary Mr. Coolidge, official comment has been furth coming from the Treasury in Washington.-Reuter,

SMART MOVE

NEW YORK OPINION

New York, Nov. 4. Financial circles here regard the silver situation as being very uncertain as a result of the Chinese nationalisation of silver, Although it appears likely that silver supplies from China might be curtailed, making India the San Francisco, Nov. 4. chief market for Treasury pur- Senator Thomas, another of the chases, some experts here express "bigh silver" advocates, pro- the opinion that Chim will be nounced China's nationalisation willing to sell silver in large of silver as a smart move, as- quantities in order to hold tha serting the price of the metal may. Shanghai dollar at its normal rate. now rench $1.29 an ounce in a-uited Press. few months.

"The Chinese Government has taken time by the forelock and has moved to hold her silver in ad-

yance of the day when silver will be worth more as bullion than as minted money.

"If it reaches $1.20 an ounce it will go there before the 1936 election, or not at all," he de clared.

.

LINKED TO STERLING

men, must be retired from Libya before the Mediterranean fleet can be moved.

ITALY MAY AGREE

EXPANDING AIRWAYS

1

NEW PLANES FOR BRITISH LINES

London, Nov. 4,

RADIO

HENRY HEATH

105-107-109 OXFORD ST.,W:

A new range of hats. In three shades of grey, two shades of brown and two- shades of fawn, making it easy to find one to tone with your Autumn Suit.

The snap brim is exactly right accord- ing to the ideas of the people who decide these things.

We stock these in all sizes from 6% to 7%

$10.50

$15.50

Less 10% cash discount

BROADCAST MACKINTOSHS TD

Jazz Recital by Bill Cameron

STUDIO · RECITAL

From ZBW on EL wavelength of 356 metres (845 kilocycles):

4-7 pm.

Chinese Programme,

7-7.30 p.m. Light Orchestral

Music.

Sir Eric Geddes, chairman of Imperial Airways, hunounced to- day, that he had ordered a Mayo composite plane to be constructed. This is a combination machine, actually two aircraft, designed for Jong-range flights. One machine thus helps the other rise and allows a heavier feel bad, and once the cruiser craft is on her

Mannin Veen (Dear Isle of Man) way her consort drops from

(Haydn Wood); The Skaters Waltz and she proceeds alone.

The Mayo plane will be put into (Gung'); Concert Waltz "Joyous " (Haydn Wood); Homage March operation preparatory to experi-(Inyon Wood); Dance of the Hours mental trans-Atlantic flights La Gioconda") (Punchielli).

7.30-7.40 p.m. From the Studio. next year, envisaging an eventual

The first of a series of "Educa- tional Talks" by Uncle Bite. air mail line from London to

7.40-8 p.m. Im- Montreal and New York.

Sir Eric also stated that

her

perint Airways would shortly put of travelling 3,500 miles non-stop; into operation flying boats capable with a load of 1,500 pounds of mail,

-United Press.

་

DEATH OF DR. HAAS

REGRET FELT AT GENEVA

Vocal Gems. Hermann Lohr, Light Opera Com-

art. Bridge); Harry Lauder (arr. Byng)- pany; It was a lover and his Lass

8 p.n. Time and Weather Report; Stock Quotations.

A personal messago by II.If. the Prince of Wales,, Patron of the British Legion.

8.05-8.30 p.m. From the Studlo, 8. Plano A

Recital by Bill Jazz Cameron.

8.30-8.47 p.m. "Brandenburg Con- certo No. 4 in B. Bat. Major (Bach) played by Sir Henry Wood and his symphony Orch: 8.47-9 p.m.

'A 'Cello 'Recital by Pablo Casals.

Geneva, Nov. 4. Grent regret is expressed by 1. Moment Musical (Schubert); the Economic Sub-Committee of 2 Le Cygne (The Swan) (Saint- 3. ChanRON Villageoiso the League of Nations at the Suens); London, Nov. 4. death of Dr. Robert Haas, Director (Popper); J. Vito (Spanish Dance) By the week-end it is considered of Communications of the League's (Op. 54) (No. 5) (Popper),

9-9.15 p.m.

Daventry News Bul- likely that Italy will have satisfled Transit Section. The first busi-letin. the conditions-essential-to-the-re-ness_on_the_agenda_to-day was 9.15-9,40 p.nt. From the Studio. duetion of British naval forces in discussion of Dr Haas' report, on A Recital by D. M. Richards the Mediterranean and the reduc- China.

(Baritone) accompanied by doon de tion will be carried into effect. The funeral service is being Ville, Nurn Kanis Pianoforte..

These conditions are the cessa held to-morrow, at which the

Programme. tion of Italian anti-British propa-| Secretary General of the League, ganda and a reduction of the M. Avenol, will deliver an oration. Italian forces in Libyn by at least-Reuter. another division,

COOLER WEATHER

1

Leanin' Songs:

Sterndale Bennett; Molly Brannigan Villiers Stanford; 2. Pianoforte Setoa: Selected; 3. Song: Santa Barbara

Captain Kennedy Russell;

Mioc Sanderson; 4. Pianoforte Solos: Selected.

Sousa.

10 p.m. Press Bulletins.

Partly as a result of Sir Samue! Hoare's talks with Baron Aloisi in Geneva, a more conciliatory Anglo-

A strong anticyclone. covers

9.40-10 p.m. Old Tunes. Italian atmosphere is apparent.

Revudeville Memories (Burrows); Bron Aloisi shows a definite desire north China and Manchuria. It Washington, Nov. 4.to improve Anglo-Italian relations is slowly extending south and Riding down from Bangor? Sulemon A notable aspect of China's new and has made certain suggestions southeastward. The depression Levi (Traditional); Marching with monetary measures is the Chinese in a more or less personal capacity is situated over the eastern part swing towards the already expand-which, however, in the event of of the Sea of Japan, moving N. E. ing sterling area, according to their development have to be re- Local forecast:-N. E. winds,

high authority here,

ferred to Signor Mussolini for moderate to fresh; eloudy, ralh or Although it is recognised that approval.-Reuter.

drizzle; cooler. the yuan will not be directly link- ed to sterling, yet it is believed that the only effective phice for China to maintain an exchange ba-

In-

DAY BY DAY NEWS IN BRIEK

United States fatends to conducting similarly under sterling REFLECTION.-Richter. its silver programme with the fluence.

minimum of injury to China in connection with China's latest monetary measures for the stabili- antion of the yuan.

( charge of theft

10.10-10.40 p.m. Dance Music 10.40-11 p.m.. A Relay from Daventry.

A Talk. "Revisited." 11 pm. Close Down.

FANLING GOLF

the STARTING TIMES FOR

SUNDAY

Old Courie

-He-added-that-some "ailverites" were anxious to get silver to the $1.29 level in the immediate future lance under the New system, WE LEARN OUR VIRTUES FROM THE, In thanking the benefactors to the

Society as Insurance against any change will be London, because of which BOSOM FRIENDS WHO LOVE US; OUR recent bazaar, the

of St. in the administration.—Renter. It is expected that the yaan' will

Vincent de Paul mentioned the Credit) FAULTS FROM THE ENEMY WHO come "under sterling influerice".

Foncier d'Extreme Orient for AMERICA'S ATTITUDE

HATES US. WE CANNOT Experts here have

EASILY use of the ground on which the bazaar expressed Washington, Nov. 4.

wns held. The acknowledgment From responsible quarter view such a development favour-

the opinion that the Japanese will DISCOVER OUR REAL FORM FROM A

FRIEND, HE IS A MIRROR, ON WHICH should have referred to the Missions here, the United Press learned to-

The following is the draw for the day that it is indicated that the ably as the yen is regarded as be- THE WARMTH OF OUR BREATH IM-Etrangeres de Paris, Hongtong, to

OF THE whom the Society telers its thanks Insper Clark Cup and Qualifying PEDES THE CLEARNESS

Round of the Royal Hongkong Golf Wah Hing, unemployed, was sen- Club Championship to be played off The United States Treasury kas Banished on October 18 for ten tenced to six weeks hard labour by at Fanling on Sunday:

Central declined to make any comment on years after conviction for being the Mr. W. Schofield, at the this morning, Magistracy

on nil- China's new measures except to keeper of a sly brothel, Leung So, 22,

of -a indicate that the United States is unemployed, was senter. Mae radiator cap from private car No. 9.25 n.m. Major Wren, Col. William-

sentenced to six mitting months hard labour It was indicated that their not involved in any decisions.

fadyen in the Central Magistracy 1814, property of Mr. Casey, which policy is a continuation" of the Officials of the Department of this morning for committing a breach was parked in Wanchal Gap Road 9.30 United States promise made to State also declined to indicate of the deportation order, Sub- yesterday.

whether the United States will Inspector Tyler had charge of the

considerable advise the Americans in China to

"There has been a co-operate with China's new men-

amount of shop-lifting," remarked Central sures as the British Embassy, did. A time-expired banishee, Cheung Sub-Inspector Tyler at the Experts have Interpreted this

Competent observers, however, buforo Mr. Macfadyen at the Central Teci, 46, unemployed, was sent to Wing, 32, unemployed, pleaded guilly Police Court this morning when Fung attitude na indicating that the are of the opinion that the United Police Court this morning to steal prison for one month by Mr. Muc- United States intention is to main States would collaborate, at least ing a watch from Wong Ming-yuen, Indyen for stealing fee singles from tain the silver price as relatively indirectly, In view of the American merchant, outside the Wing

Lok 146, Queen's Road Central. Defen- stable as possible, at least until sympathy with China's aims Wharf, and was sentenced to four dant was seen by a district watch- months hard labour. Sub-Inspector man to place the singlets under his Tyler said the theft was rather coat. cleverly done. Defendant snatched the watch and hid it in his topee. M. Hess, driver of private car No.

1781, was fined $30 by Mr. W. Scho- 10.05 Tsang ilong, unemployed, charged field, at the Central Biagistracy inis on the before Mr. W. Schofield, at the Con- morning, on a summons of driving 10.10

eare and enution in} tral Magistracy this morning, with without due first trespassing in the Royal Naval Dock Upper Albert Road at 2.30 p.m. on

China months ago, but that they will make no new 'assurances in view of China's firmer grip on the yuan.

tho silver bloc returns

January Congress,

for the United Press

It is widely speculated here as

LONDON PURCHASES

London, Nov, di

to whether the steadiness of the

world silver price in recent The Orient to-day placed heavy montha, to which the United | bar-silver buying orders States presumably contributed by London market.

case.

the cautious placing of silver pur- The demand caused the chase ordera, was the basic factor increase in spot price since Octo- yard, was sentenced to six months October 24. Trafie Inspector Al-

In oncouraging China's latest ber 17.-United Proaa.

steps

It has been declared that the United States will be very reluc-

tant to radically disturb the equilibrium of silver while China

is undertaking her reform mea-

Bures.

FUTURE RATES

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water coloURS BY FOREMOST ARTISTS OF JAPAN.

10 DAYS ONLY

STARTING. NOVEMBER 1st.

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G. Marseille,

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Chassels.

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"

C.

S. E. I. Wynne-Jones at the Kowloon

Magistracy this morning and sentenced to 12-months' hard labour for returning from banishment. De-

was.

Hopkins.

fendant, who had been banished. in

Arrested on Sunday,.Cheng Yuk, 04, widow, was brought before Mr.

G. S, Archbutt, D. J. 10.00 R. H. McGregor, İl.

L.R. Andrews, O.E.C. Mar-March this year for ten years, ad-

Afternoon times will be from 1.00 mitted two provious convictions for p.m. to 2.00 p.m. Old and 2.10 Now keeping aly brothels in 1933, and two breaches of the Deportation Or- Course.

No fourballs on the Old Course till dinance last year. Inspector: Shan- (2.08 pm.

non prosecuted. The woman was Competitors start their afternoon warned that if she returned again rounds in the order in which they she would be committed for trial at finish in the morning.

the Supreme Court.

Glimore,

10.06

鹑

hard labour. Detective Sergeant D. cxander aald defendant drove at a Fitches wald 4 dockyard policeman

A+ an easterly direction. hour in saw the defendant yesterday after peed between 30 and 35 miles an pro- the time there were several vehicles noon and arrested in. On a

Government and leaving vious occasion defendant was seen in entering

New Course.

ton.

9.25 am. T;

9.00

#

A. Pearce, P. Seconds, Capt. Shannon, A. Mackenzie.

H.

K:

P 9.35

9.40

D.

AL

Montreal, Nov. 4. Silver futurea here closed with the dockyard, but eluded the pollee. House, and baldes the fact that the November delivery 18 pointa lower Defendant's record showed five pre-defendant was really speeding, in a and March 29 points higher-vious convictions, three of which were controlled area, it was niso rather

| dangerous. for trespassing. United Press.

3. Edward, MoKellar.

D. Forbes, A. Ritchie.