Tokio, May 11.
It is reported, apparently on good authority, that the Army and Navy authorities are seriously considering effective retrenchment in the next budget, and it is announced that an Army Re-adjustment Commission has been appointed.
Moreover, the usually wellanformed "Chugai Shogyo Shimbun" reports that the Finance Minister, with the Cabinet's approval, has drawn up rules for the next budget, curtailing fresh enter pri: and loans and also naval and military expenditure, and including a recommendation for the withdrawal of the army from Siberia.
Army officials deny the rumour of the establishment of a new division in Hokkaido.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.