Mr. Soong delivered the followig address:—"Mr. Chairman and gentlemen: The pleasure of being with you to-day is heightened by the recollection that I was one of tthe first members of the Union Club when was in business in Shanzhat some years ago, I feel so much at home in these quarters that 1 am. emboldened to speak to you with complete candour, a8 ong busines: man to another, "Yesterday, returned to Shanghhaj from Hsuchowfu, where I had an opportunity to see our armies at the moment of what we believe to be a decisive victory. Our troops are Preparing for what we hope may bbe the final struggle with militarism and feudalism in North China. Our officers and men gave evidence of that fine morale "and enthusiasm which had brought our forees in so short a time from Canton tr Shantung.
Text read from the printed page and cleaned; old type leaves the occasional error.