Although it is at present difficult to say exactly how far Shanghai has suffered on account of the shortage in tonnage, due to the war, it is interesting to note that, generally speaking, the figures of 1915 compare very favourably indeed with those of the previous year. In all, the tonnage entered inwards and cleared outwards during the year amounted to about 16,850,000 tons ae compared with 18,950,000 tons for 1914, showing a decrease of some two million tons. 'The shrinkage in tonnage is not as largo by half as it would seem from cursory examination of the figures, for the 1914 total has the advantage of 1,125,000 tons of Austrian and German' shipping, which was only represented in 1918 to the extent of 637 tons, end that German. No Avstrian ship entered the port or cleared from it during 1915.
While comparison with 1914 may not be a remarkably good one, as the war was only affecting it during five months of the year, there is not a little interest attached to the manner in which the volume of enemy shipping shrank during that. year alone. In the first quarter of 1914, 174 German ships were dealt with, in the second, 186, in the third, July to September, 78 and, from October to December, only one. In 1915, only one German ves-
Text read from the printed page and cleaned; old type leaves the occasional error.