1938-05-03 — Page 15

THE HONGKONG

TELEGRAPH,

TUESDAY, MAY

3,

1938.

Britain, France Must Face Blackmail or War

BITTER ATTACK ON ANGLO-ITALIAN PACT IN COMMONS

Prime Minister Stoutly Defends Action As Real Step Toward Peace

London, May 2.

The House of Commons to-night defeated the Labour amendment, moved in opposition to the Anglo-Italian the Prime Minister, Mr. Neville pact for which Chamberlain sought the approval of the House, by 322 to 110.

Mr. Chamberlain, introducing the subject, said

New French Decrees Approved

Anglo-French Talks Please Government

NEW OPIUM TAXES IN PEIPING

Pelping, May 3.

The Municipal Government has established an official at the Consolidated Tax Bureau to collect a tax of seven cents per Paris, May 2. Council Ministers unanimously ounce on all opium, and also to expressed satisfaction with the recollect a business tnx of 20 yuan sults of the Anglo-French falks in

three-hour meeting a month on all opium. shops, London, after at which M. Edouard Daladier and which "hereafter are prohibited advertise themselves a M. Georges Bonnet reported on the

to conversations.

National Goods Stores."-United Press.

ex-

The Council also approved the drst series of decree laws aiming to Increase production, and the tension of credit and financial re- form. Two decrees, submitted by M. Albert Sorraut designed to Sghten

un control of foreigners in France, were also approved-Reuter Special.

Stalin Keeps One Hand

that when he became Prime Minister the situation On Red Army

Vindivostok, May 3. Expansion and strengthening of powers of the political com-

existing between Great Britain and Italy was as bad as ever it had been. Without some effort it was in danger of becoming rapidly worse. The negotiations which had resulted in an agreement were begun and carried on in missors of Red Army units are being

a spirit of mutual accommodation and goodwill.

The Prime Minister paid a tribute to the work of Lord Perth, British Ambassador to Rome, Count Ciano, the Italian Foreign Minister, and Count Dino Grandi, Count Grandì, he said, Italian Ambassador to Britain. had won a position of confidence and respect in Britain by his efforts to remove doubts and misunderstanding, which were becoming increasingly effective.

Mr. Chamberlain emphasised that the confidence which made for pence could only be obtained if they suc- ceeded in removing grievances and differences and suspicions which, if not checked, might lead to war.

The agreement with Italy, he said.

to cover the was designed Bround

whole

between

thint

Franco-Italian Agreement To

the

effected steadily in accordance with The wishes of the Communist Party In Moscow, according to a dispatch from Moscow.

are

The party organ, Pravda, and the Red Army orgun, Krasanaya Zoyez. comunistars be given equal status in the army units with the commander. Their duties would be to "Stalinite" the army.

advocating editorially that these

The commissar system in the army to Assure

loyalty to the Stalin regime but it originally was created

the steadily lost significance before real power of the expert officer until the outbreak of the Tukhachevsky Incident last May which brought on the revival of the system. Dircetion of Red Army units has devolved on two politicul and the commander

maintain the commissars, so as to Soviet system in the army,

In this connection, the position of

power and Great Britain. It paved Be Signed May 14 Marshal V. Varoshilov, Defense Com-

of relation

the way for future co-operation in those areas in which British interests the namely, paramouni, were Mediterranean, the North-east corner! of Africa and the Middle East. Palestine Problem

been The Prime Minister mentioned that Palestine's problem had also discussed between Lord Perth and Count Ciano, and as a result Count Clano Hnd given oral assurance that would Government Italien the abstain from creating difficulties or embarrassments for the administro- tlon there.

assurance

Lord Perth had given that His Majesty's Government in-

Rome, May 2.

ol the

A correspondent French paper, Le Journal states that it is generally expected the Italo-French Agreement May 14.- will be signed on Reuter Bulletin.

new

INDIAN MINISTRY

TO RESIGN

tended, on its part, to preserve and Over Appointment Of

protect legitimate Italian interests in Palestine.

emphasised

Acting Governor

Calcutta, May, 2. The Prime Minister that His Majesty's Government ne-

The Premier of the Orissa District he and his that lo-day cepted that Italian assurances respect- ing Spain as being given in good faith stated and believed the Italian Government colleagues will resign on Thursday intended to keep them in that spirit. unless there is a development in the

Generally speaking, they were en-situation before that time. couraged to hope, he added, that they

The Orissa Ministry objected to

miscar, is significant. Indications are that his relations with Mr. Josef Stalin are still of the best. Although it is not known how political com. missars are to be appointed, it pears that they are all to be under the supervision of Commissar of the Interior, M. Yezhov. The Kremlin thus will have control of the Red

the Army through

commissays.—— International.

LONDON STOCK EXCHANGE

YESTERDAY'S CABLED

QUOTATIONS

London, May 2,

Apr. 29 May. 2. (Red. War Loan. 3

after 1932) £101.3/50

23% Canton-Kowloon Rly B Chinesa 44 Guld Loan,

00 18 (British Insue). Chinese 5% Gold Dondo,

1923-47

had taken only a first step towards the appointment of Revenue Com-Chinese

a healthier and saner state of things missioner Dain as acting Governor

in

The Ministry maintained that the sub- WIN Commissioner Revenue ordinate to the Ministry and that the Chief Justice should be appointed to the post-Router Bulletin.

Europe. He believed in for during the absence on leave of the

the agreement Governor. Italy and Britain marked the beginning of a new era. Labour Rides To Attack

Moving the Labour amendment Mr. Herbert Morrison declared that in the five out of the eight points Anglo-Italian agreement were reaf- firmations necessitated by past bad

faith. There was no guarantee that the new affirmations by Italy would There was no probability that stand, they were any more to be respected than the previous ones, unless the agreement related to the collective organisation of peace, which it did

not.

MANCHUKUO TRADE -Nanking

BALANCE IN RED

Changchun, May 3. According to official @gures just released. Manchukuo did $69,602,000 Tienisin-Yukow ly. 3

It was essentially an imperial-worth of trade with foreign countries. Japan B Sterling Loan,

the pre-war istic agreement of variety and it helped to make Italy

Near great imperial power in the

the East and unless Italy "plays game" Britain can take credit for having helped to make her a greater menace to British interests there.

Mr. Morrison declared the ngrec- ment was contrary to British interests and morally repugnant and degrad-

This has resulted in an adverse.. de S'hal Banking

$0,828,000. balance amounting to International,

35

SHARE PRICES

The folowing is th clist of local shore quotations issued this morning. Baoka

H.K. Bank, $1,500/80 n.

H.K. Banks, (Lon. Reg), £94 b. Chartered Banks, £124 n. Mercantile Bank, A. and B. £28 n. Mercantile Bank, C., £14 n. East Asia Bank, $90 n.

Insurances

Cunton Ins., $270 n. Union Ins, $527 b. China Underwriters, $2 n. H.K. Fire In., $233 n. Shipping

Dougins, $85 n. II.K. Steamboats $22 s. Indo-Chinas (Prof.), $51 a Indo-Chines (Def.), $24 n. Shell Bearer, 83/11⁄2 n. Union Waterboats, $8.00 n.

etc. Docks H.K. & W. Wharves, $138 s. H.K. & W, Docks, $22 b. H.K. & W. Docks (new), $21% sn. H.K. & W. Docks Rts, $11 n.

(new). $3.70 80. Providents

Providents

), $3.05 b. New Engi Sh. $4.05 .

Sh. $90 n. Shanghat Docks Kailan Mining Adm., 15/6 n. Raubs, $10.10. Venz: Goldfield, $21 b.

Mines, 1112 cts. n. Hongkong

Philippine Mining

50 61. Antamoks, P. 50 Atoks, P. 22 sa. Baguio Gold, P. → Banquet Cousol, P. 9:40 sa. Benguet Explor., Dig Wedge, P. ~

P. 57 sa Coen Groves, Consolidated Mines, P.

Demonstrations, P. — E. Mindanao, F. Gumaus G'ilcids, P. Ipo Gold, P: - I.X.L., P.

Itogons, P.-

Masbate Cohsols., P.-- Min. Resources, P. Northern Min., P. —

Pacncale Gumous, P. 19 sa. Salacot Mining, P.- San Mauricio, P. 48 sa. Suyoc Consol, P. 18 sil United Paracales, P.-.

Lands, Hotels, etc.

H. and S. Hotels, $7.55, and sa. H.K. Lands, $374 b. H.K. Lands, 4% Deben $101 b. nds, Sh. $0 n. S'hai Lands, Metropolitan Lands. Sh.- Humphries, $0.10 b. H.K. Realties, $6.30 KR. Chinese Estates, $100 n. China Realties, Sh. - China Debent,TH

Publa Utilities

Peak Trama (new), $334 n.

Star Ferries, $80 b.

Yaumati Ferries (old), $24.00 n.

$12.15 b.

China Eght 0.10 b. H.K. Electric, $6014 b.

Macao Electric, $171⁄2 b.

Roosevelt Duels With Committee

Acute Issue Over Wage-Hour Bill

Washington, May 2 Electrifying the Wage and Hour D. Roosevelt has directly requested the Bill proponents, President F House of Representatives Rules Com- mities to reconsider its action of bottling the Bill.

He supported a discharge of the petition in the event of the Committee refusing the request.

Meanwhile the House of Represen- tatives bi-partisan bloc held a con- ference to devise strategy to blast the Bill from the Committee-United PTC33,

Peiping Soon To Undertake Loan Service

Tokyo, May 3. Service on foreign loans, secured ол Chinese Maritime Customs Revenue, will be undertaken "in the very near future" by the Provisional Government in Peiping Insofar as its share, based on the area under 11s control, is concerned,

Assurances 10 this effect were given here by Mr. Wang Ko-min, chairman

of the Executive Yuan of the the North China regime, in

with. course of a press Interview

about

35

foreign correspondents yesterday afternoon.

Customs

"Not one cent" of the revenue in Tientsin, which totalled $12,000,000 from November last year touched, the to March, had been

de- 65-year-old Chinese statesman clared.

entire amount had been with

Yokohama deposited

the he ntrld,

The

Specto Banks

The Provisional Government, Mr. and continued. Wang

"one after

had

discharged another various Japanes advisors engaged in North

were

China

now

following the occupation of the arra by the Japanese forces. Only three Japanese serving in an advisory capacity with the central regime in Pelping while each province or municipality

North China had only one Japanese advisor on its payroll. The engage ment of other foreign advisors, the Executive Yuan head said, had not yet been contemplated.-Domei,

Stock Market

Dull

Chinese Bonds Show Improvement

London, May 2. The London Stock Exchange was dull in sympathy with the week-end on Wall Street, and the uncertainties of European polilies. But gilt-edged holdings were firm and Chinese Bonda higher as a result of the reports of un Anglo-Japanese customs agree- ment.

Among the commodities, cocon en- liquidation countered considerable and closed above the lowest. Tin was weak owing to a disappointing Wall Street and the sharp rise in the world's visible stocks.

On foreign exchanges there was covering prior to the publication of the financial decrees, which caused Telephone (old), $27.00 b. and sa. French francs to harden-Reuter

Sandakan

Lights,

$1414 n.

Telephone (new), $1030 b.

Special.

Smart, new, light & practical for Summer Showers

Ladies' Oiled Silk Raincoats & Capes

In the latest fashionable colours.

Saxe, Navy, Sky, Red, Bottle

Navy Cream.

Plain or with Polka Dots. Neatly packed in a water- proof bag of the

material,

same

CAPES

$1350 each.

RAINCOATS

$1950 each.

Weight only 5 ounces!

i

Chubby Umbrellas

A new range in various colours. Plain or Stripes. With novelty

from

handles.

$595

each

Whiteaway, Laidlaw & Co., Ltd.

BURNS PHILP LINE:

EXCHANGE

Selling

.1s. 2.27/32

.is. 2.27/32

109

.53

.106

,024

.3011

.01%

644

149%

98%

.9.90

.70%

133

Tel, 28031

1/0

Buying

b.

C$Bonds.,

4 m/ Lc London do. 4 m/s D/P 4 m/s Lic USA.

1/3, 3/32

1/3.1/8

.31%

.10.05

83%

101.5/10

23

03

75%

77%

12 Anglo- French Loun, 1900... Chinese 5 Crisp Loan,

1912

DI

13

H.K. Tramways, $17.25 b.

Peak Trams (old), $7 b.

50

Chinese 3 Heorg. Loan,

103 (Ldo 18.1 Chinese 3 Sterling Notes

1925 (Vickers) chinese Imperlet Rly 5%

$316

635

ID

19%

Ching Light

Loon

*

74

Honan Rly 6, 1905 Hukuang Rly 5 1011 Hukuang y . 1911 (German nuc)... Lung Tsing & U. Hai Rly

5 1913

45

33

20

31

21%

22

Rly,

China Busen, Sh,

43

42

Tientsin-Pukow Rly.

Turn. Stpd.). Kagg Tientsin-Pukow Itly. 8% (German Stpd.).... Tientsin-Pukow Itly.

Singapore Tractions, 22/6 n.

201

Singapore Pre..

23/0 n.

Industrials

27

ZD

Cald: Macg. (old), Sh. $14% n.

(Bril. Big. Supl, Loan)

27

20%

Cald: Maeg. (Pref.), Sh.

21⁄4 n.

Canton Ices. $1.70 h,

(Ger, Stpd. Bupi. Loan}

27

2014

Cements, $18 b.

including Japan, Chinn and Germany during the Brst 10 days of Aprli, with exports totaling $29,888,000 (in- clusive of $2,310,000 re-exported) and imports at $30.714,000.

1907 Japan 6% Sterling Loan,

1924 German 75%.

Loan, 1024 ... Chartered Bank of I.A.

St C.......

47

472

07 011⁄4

H.K. Ropes, $4.70 b.

Stores, &c.

Dairy Farm, $24.00 b.

0135 B114

1234

19

Corp. (Lin. Reg.)...

02

02

Wing On (H.K.), $49 n.

HIK. & Shal Banking

Corp. (Co. Reg.)

想

Chinese

Mining (beater)

15/0

15/0

Chosen Corporation

4/0

8/1

2/0

a/p Nom, Nom.

30/- 30/-

Nom. Nom.

Co+

24%

Nom.

21/

Nom,

30

DOW

079

Nom. Nom.

11/10 23/0 20/44 37/1014 20/0 20/1

01 00% 103/746 105/7

4/0 40/4 40/- 9/3 04/9 30/- 20/0

110/

51/7 01/0

32/ ∙135/736 135/713

07/0 10/ 01/10 91/3 05/7 03/ 70/0 79/9 01/10 82/- 20/2.25/0

1},

Wallace Harpers, Marsmans Ins., (Lon.), a/- 10/7

Marumans Ins. (HK), sf- 3/10 b.

Vickers ord.

23/0

Woolworthm

04/0 08/3

Anglo-Dutch

25/0

23/2

25/-

20/3

Rubber Plantation Invest-

Trust ENTER

28/0

20/3

Furma Corporation............. Commonwealth Mining

19/-

9/0

1/0

Martian Investments

11/-

3376

Forg-

20/0

20/6

10/-4

ing to the beat instincts of the people agreement proposed to "let down"

and the best feelings of the world. Spain.

It brought nearer the day when the

British Empire and France would be faced directly with

blackmail or war.

the issue

of

Premiership Of Humiliation

Engineering &

Pekin Syndicate

Shal Elec, & Construc-

Bon Co.

Sin1

Waterworks

Mr. Clement Attlee, winding up the Union Insurance Socisty

of Canton ... Of Incalculable Value debate for the Labour Party, sald Mr. L. 8. Amery replied, saying the that Mr. Chamberlain's Premiership Gula Kalimpong Rubber 22/6

it year of unparallelect Allied Iconfounders agreement was of incalculable value, had been in very dangerous and difficult times, humiliation for the country. before the country,

A

SLTY of

3

Assoc, & Elec. Industries The Austin Motors, ord, Premier had been widely and justly Cable & Wireless, New Form, ord. ***PATA The Prime Minister's courage had distrusted throughout the country.

British-American Tobacco Mr. R.

Butler, Assistant-

(bearer) put into Britain's hands the initiative;

the Foreign Office, Cammell Laird, ord, for peace.

Archibald Sinclair, Leclaireed that the Premier's policy had platillers

up for the Government, Mexican Eagle

Courtaulda leader, declared that by compelling recognition of the annexation of been eminently successful. He gave Dunlop Hubber

Guinness (A) Son & Co. 119/0 Ethiopia and by countenancing the as examples the Anglo-Irish Agree- General Elec. (England) 70/44 74/4

Prime ment, the Anglo-French tails and gawker Siddeley Aircraft 201 the of Spain, Invasion Minister had shirked his responsibil- the Anglo-American trade agreement firistel Aeroplane

Imperial Chemical Indus.

Tobacco ties and sacrifled the principles upon negotiations.

Replying to a question whether any Marks & Spencer "A" which, alone, peace could be estob-

unwritten undertaking was behind Holls Royen lished.

Tate & Lyin Mr. David Lloyd George main the Anglo-Italian Agreement, Mr. Lelyland, Molori tained the Prime Minister's policy Butler firmly assured the House that Turner & Nowall was one of reirent and capitulation. there was no undertaking with re-United Steel ***... The agreement was an abfool, dia-gard to a loan, or any other mattor Binethwick Drop honourable and cowardly surrender. to which reference had been made. Armstrong Stevens, ord.

Prossed Steel, ́ord. The Duchess of Atholl asserted the Reuter,

inge

Passenger & Freight Service To

AUSTRALIA

at

M.V.

"NEPTUNA"

duc

18th MAY

sailing

21st MAY

at midnight

For

SAICON, MADANG,

SALAMAUA,

RABAUL,

SYDNEY AND MELBOURNE.

Excellent passenger accommodation, with a largo number of single cabins no supplement. Built-in Swimming Bath and Spacious Sports, Dock.

First Class to Sydney:---

Singfo-£47.10.0d, Roturn-£76,0.0d.

Passenger & Freight Agents:-

GIBB, LIVINGSTON & CO., LTD.

THE

P. GO. Bldg.

HONGKONG

PENINSULA HOTEL; ~

HONGKONG HOTEL; REPULSE BAY HOTEL;

Watsons, $0.66 n.

Lone Crawfords. $9,50 n.

Sinceres, $2.20 n.

William Powell, Ltd., 70 cts; n.

Cotton MUL

་

Ewo Cotton, Sh. $14 n. S'hal Cotton (old), Sh. $74 x. Zoong Sings, Sh. --

Wing On Textiles, Sh, $30 b.

Miscellaneous

I.K. Entertainments, $01⁄2 n. Constructions, $1

Vibro Filing, $6 n.

Ch. Govt. 4% 1023

774% prim, so.

T.T. London Demand... TT. Shanghai TT Singapore T.T. Japan TT. India TT. U.S.A.

Manila ΤΣ T.T. Batavia T.T. Bangkok T.T. Saigon T.T. France TT. Germany T.T. Switzerland [T.T. Australia ...

4 m/s France H.K. Govt. 4% Loan 0%.prm. n. 30 d/s Indin H.K. Govt. 34% Loan 2% prm.

U.S. Cross rate in London....4.90%

INVITING ROTARY

ΤΟ ΤΟΚΥΟ

Tokyo, May 3. Seeking to secure the venue of the 1041 World Session of the Rotary International for Tokyo, Mr. Makoto 10Den, director of the Board of Tourist Industry of the Japanese Ministry of Railways, will leave here for the

201/14 201/10

4

DO/130 00/-

United States by the Tatsuta Maru on May 9. Mr. Den will present his 115/1 110/10% proposal at the Rotary International Session opening in San Francisco.on 43/134 June 10,--Domel,

-Router.

$

SHANGHAI

ASTOR HOUSE; PALACE HOTEL:

HOTELS

LIMITED.

In association with the Grand Hotel des Wagons Lite, Peking

Tinnefontetis Kotntes

| Exntoration Co.

Sub-Nigel

nem Gold Mlang

Anglo-Iranian

Burmalı

Shell TraTH,

(bearer)

---

晶 Trad

5

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