Not so many years ago Shanghai prided herself on being very high up in the scale of places where property had a superlative value. Especially when the tael had soared to what had previously been considered visionary heights, Bund lots showed a value which' compared quite favourably with places suck as Mayfair, and in fact we felt inclined to rank ourselves with New York in regard to expensiveness. At the time Hongkong could thow nothing of the sort, but it is understood that a: transaction has just taken place which puts land in the Colony on a level with the values here. It is said, though confirma still lacking, that part of the Hongkong Hotel property—the pertion burned down at the corper of Pedder Street and Des Voeux Roads is being wold at the rate of $55 Ber square foot, and if one takes 7,260 square fect as equivalent to one mow, we get a rate of $309,900 for Tis, 260,000 per mov. This is something in the neighbourhood of what Bund sites are valued at today, and the fact has caused con: siderable surprise locally. Tt is true that the Hongkong site referred to has a singularly important central position, but resklents of the Colony who have just arrived assure ts that, as things are to-day this price is not in the least ex-
The Unlucky Month The passing of the month of May brings relief to decent Chinese as well as foreigners. May has become the month of humiliation to the Chinese, although to the rest of mankind, it is a month of flowers and the joys of Spring. May 3, 5, 7, 9, 30 are the national humiliation to. be celebrated with half masted flags, black crepe, speeches by orators and denunciations of impenalism. Five days in one month: are to be school holidays, when students are to be permitted to attend general assemblies at which brave orators speak in language of the harm that has come to China. Yet, in a larger sense, humiliation has only come to China because of her own weakness and) the evil character of the men who are her responsible rulers. One million dollars a day is being spent on warfare. How much on edueation? How much for roads and railways? How much for the welfare of the Chinese people? In Kuangsi, there has been peace and the people have prospered, In Kueichow, roads are being built and schools opened, But what is being done for the people of Fukien, Chekiang, Kiang so Kiangsi and Anhul—the richest of China's provinces? Until the people of China are. strengthened physically and intellectually, until the physical basis of life has been improved, China must suffer humiliations—entirely of her own making. The greater humiliation of all is that the Chinese themselves not understand this, ani)
Text read from the printed page and cleaned; old type leaves the occasional error.