Mukden, Nov. 11.
Mukden remains the extraord-marily quiet city that it has been. Neither war nor rumour of war seems to disturb its equanimity, and while some people point to' the fluctuation of fungpiao as an indicution all is not well, there is] nevertheless an unshaken confidence in the administration.
fadguarters issue communiques daily of a very roseate hue. These se knowledge losses and report the progress of reinforcements and the despatch of supplies -which -are reckoned adequate to deal with the situation. Yesterday's communique Gealt largely with the reaction on receipt of the joint telegram from Wang Shih-chen and Chao Erh-sun addressed to the rival commanders suggesting the withdrawal of their respective armies in order to permit of peace negotiations being conducted, It stated that the Fengtion authorities, appreciating this port from Japanese sources became Torrent that Feng' Yarhslang had carried out another coup d'état in Peking, but two nights ago these re Way to happier thoughts sovinted with peace. Marshal Chang Tso-lin was the first to convey the news himself. This he did by communicating directly with the members of the Consular Body. At the same time it is not felt here that the present peace is likely to be Insting. For one thing it ig not known' what demands Sun Chuanfang as the mouthpiece of Wu Pei-fu may make, and it is feared that the spring will witness a recrudesconce of the internecine strife, As the result of the news from Peking business has improved. Money is easier, fengpiao, which was yesterday quoted at 190 to the gold yen, being today exchanged "at Horse Trams No More Yesterday the Chinese rorted the de Under a Russian commander Mukden At A Standstil Nov. 14.
Muluden has quickly reacted to the intelligence that a truce has been arranged between Marshal] Chang Tso-lin and General Feng] Yuchsiang, whereby both lenders withdraw their troops, from Peking, leaving the capital under the control of the Chief Executive. Last night Marshal Chang Tso-lin communicat-the news to the members of the Constlar Body, who at once apprised their respective heads of the infor-Fiation.
Already the situation so far as! Mukden is concerned has lost its tenseness, No better indication of this. can be furnished than the in the price of fengpiao, which ha appreciated some 15 points.
As previously reported preparations for a long campaign continue. For several days this week there were to be seen columns of com mandeered carts on the road to the north camp, their numbers running] to some thousands, while it is known that the production of aerial bombs has been greatly accelerated.
Text read from the printed page and cleaned; old type leaves the occasional error.