1939-07-31 — Page 35

Monday,

HONGKONG TELEGRAPH

July 31,

1939.

Learning To Fly At Local Training School

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

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

tightly especially over the cars.

米

The flying helmet must fit

VR-HOU

米

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

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

striking study of a typically modern young man who is

keenly interested in the world of flying.

An instructor and pupil communicate with each other whilst roated in a plane by means of ear telephones and a mouthpiece.

ARMED ROBBERY - Chinese Couple Held Up Near Kowloon Reservoir

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

BANKING RESERVE

Sufficient Backing For Chinese Notes

Chungking, July 20.

It la oficially, announced that the legal tender notes issued by the "big The victims were Wang. Kin-chi, four"! Chinese Banks up to the end 24, school teacher, and Li Ngan, of June totalled 2,620,029,300 Yuan 21-year-old girl. The robbers reliev~ ed them of money and jewellery to the value of $20.50.

and Is said that this is supported 1,150,088,074 Yunn in gold, silver and foreign exchange and by another 1,470,840,325 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 papere.

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

The Central Bank topped the st with 1,048,803,145 Yuan worth of brnk notes, the Bank of China, second with 703,570,740; the Bank of Communications; third, with 548,- 456,070 and the Farmers Bank with 320,019,345.6

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

Japaneso Buy Exchange

Sam 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 national hows have been collected in occupied areas in Hupeh by the Japanese.

The Chinese currency, is said, to` have been sent to Hongkong where Fitim to be converted::into foreign currency. Thereby....... not a smalt amount of the foreign exchange af the Chinese has been bought by the | Japanese.—ah Kiu Yat Po...

A Flying School Instructor and pupil settle themselves

fortably, in the plane before taking

off on a filg!

An aeroplane being Inspected by an expert al:craft engineer prior to the commencement of

lessons.

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