Chungking, Feb. 13.
"The Pacific Ocean is far from Pacific," is the heading of a leading article published this morning in the "Ta Kung Pao."
"The United States naval man-œuvres," the article says, are starting today, That was prearranged, but Japan had already started her invasion of Hainan Island. "Before the United States fortifies Guam, Japan has already established an air base in the Caroline Islands. This shows that Japan is always one jump ahead of others. These moves herald an un-pacific era in the Pacific. All countries concerned must immediately unite to check Japan."—Reuter.
You will remember that owing to the unusual local conditions the agreement with the shipping companies for the last year had not yet been definitely concluded at the time of the last ordinary general meeting. However, the chairman since then was able to renew the agreement under the same terms as before except the rates of freight and surcharges. Details of the arrangements made were circulated to the members from time to time and you will see that the rates were increased to some extent and subject to surcharges for the time being. I feel sure, however, that you will agree with me when I say that increase to such extent seemed to be unavoidable under the existing conditions,
Text read from the printed page and cleaned; old type leaves the occasional error.