The now building of the Hongkong & Shanghai Banking Corporation in Hongkong as seen from the grounds a picture of the old building on page toy must go to the wall. Dut that economic factor is assisted by the closing of many positions on the old Chinese Eastern Railway which were formerly held by Russians. For the most part they will go to Jepanese, only because of the fact that they can thereby run the railway more cheaply than with occidental Jabour. It'does not mean in any sense that the future of the city, which has always been promising will in any way suffer by the change. Mast likely It will benedt from the more rapid tempo which the Japanese bring to their affairs and attain anticipated commercial. and. industrial eminence quicker under the new than under the old regime.
Text read from the printed page and cleaned; old type leaves the occasional error.