1939-07-31 — Page 23

Monday,

HONGKONG TELEGRAPH

July 31, 1939.

Learning To Fly At Local Training School

11

An 'acroplano being inspected by an export aircraft onginoor prior to the commencement of

Fossons.

The correct clothing to be worn during a flight is important.

The flying holmet must fit

tightly especially over the cars...

DE CIMDUMUAY

A flying instructor at the School explains the problems of the controls of an aeroplano to a student..

Pip

VR-HCU

米

One of the Training School's pupils dons a parachute before commencing a flight.

A striking study of a typically modern young man who is keenly interested in the world of flying.

Flying School instructor and pupil settle themselves comfortably in the plans before taking

off on a flight.

An instructor and pupil communicato with each other whilst seated in a plane by means of ear telophones and a mouthpiece.

ARMED ROBBERY Chinese Couple Held Up Near Kowloon Reservoir

Three robbers, two armed with knives, held-up a Chinese couple nt Siu Sai Wu on the hillside near the Kowloon Reservoir about 3 o'clock jon Saturday afternoon.

BANKING RESERVE

Sufficient Backing For Chinese Notes

Chungking, July 20.

It is officially announced that the legal tender notes issued by the "big The victims were Wong Kin-chi, four Chinese Banks up to the end 24, school teacher, and Li Ngan, a of June totalled 2,020,020,300 Yuan 21-year-old girl. The robbers reiicy- and it is said that this is supported ed them of money and jewellery to the value of $28.50.

Another view of a Flying School pupil seated in a plane before taking off on a short flight.

by 1,156,088,074 Yuan in gold, silver and foreign exchange end by another 1,470,040,325 In the form of bonds and notes issued or guaranteed by the Government, plus assets accep- table to the Minister of Finance and acceptable short term commercial papers.

It said that the ration between" cash and security reserves was be- tween 44%, and 50%.

The Central Bank topped the st with 1,048,803,145 Yuan worth of bank

notes; the Bank of China, second with 703,570,740; the Bank of Communications; third, with 640,- 450,070 and the Farmers Bank with 320,010,345.

It is said that prior to the war, the cash reserve behind Chinese Currency was 60% while now it is 44%, "which is still higher than the currency ́re- serves of many other countries." It is sald, that the decrease in the per- centage of ensh, reserve was due to the increase of the note issue from the pre-wer level of 1,400,000,000 Yuan-United Press..

* Japanese' Buy Exchange

Shiukwan, July 30, It is learned from official circles that information has been received in Chungking to the effect that more than $3,000,000 worth of nationa! notes have been collected in occupied areas in Hupeh by the Japanese, The Cliinese currency is sild, to have been sent to Hongkong where It is to be converted into foreign currency. Thereby not a moll amount of the foreign exchange of the Chinese has been bought by the | Japanese.—Woh Kiu Yat Po.