On the whole the year 1998 was, in many ways, a more satisfactory year for Shanghai. than was expected at the time of our last Annual General Meeting. This can be attributed to a very' great extent to the great recuperative powers of the Chinese; the manner in which they have continued trading in certain areas and re-commenced it. in others immediately hostilities have gone further afield is truly remarkable. It seems no exaggeration to say that no matter what the prevailing circumstances may be the Chinese will find some means of carrying on trade, As to the fulure, British Action Criticized Shanghai, Mar. 22. "When the British." Government governments in China, itis only natural that papulas sentiment against such action should appear in the press," stated a spoke man at the Japanese press conference Jast night when asked by an American correspondent if the Japanese authorities had taken any steps to suppress anti-Briltish activities areas under their control.
Referring especially to the newly-[formed "Anti-British Association" in Nanking, the questioner asked if measures were being taken by the Japanese to suppress stich organiza tions. In reply the spokesman stated that if there was such an organiza-ton in Nanking he would have heard of it, Stating that it was a hypothetical' question which could not be answered, the spokesman dealt with a query as to whether an. antly American association would be form-fed in Nanking in view of the fact that the U.S.A. had advanced $25,00
}000 to China,
Text read from the printed page and cleaned; old type leaves the occasional error.