London, March 10.
The New York correspondent of "The Standard" states that the belief prevails in well-informed circles that, under cover of the most correct diplomatic dealings, negotiations between the United States and Japan, and incidentally Russia, regarding trade conditions in Manchuria are approaching a somewhat serious stage, The gravity of the situation consists in the conviction that Japan does not intend to allow traders equal rights in Mancharia and is carrying out a pre-determined policy favouring Japanese Commerce on every possible occasion. The United States Government is resolved that American commercial rights shall be protected at all costs,
Text read from the printed page and cleaned; old type leaves the occasional error.