When we examine into the constructive side, the profit is not. so apparent. There have been only few improvements in communications. (This comparison, T should perhaps add, is made with conditions prior to July 1097, andi not with the chaotic conditions caused by the outbreak of hostilities, over which latter there is distinel' improvement). A Railway has been built from Peiping via Kupeikow to Jehol. It is, however, chicly of military importance, and has tittle commercial value. Moreover' it runs through territory which Was already in the hands of the Japanese Army before the "Incident, Sols not really a war gain, Several new motor roads have been built, but fas they are in most cases merely the dinary dirt roads which fall rapidly disrepair there has be ment in the facilities for motor trot port 'A. number of factories have been but for one majority of them are still Japanese Army: of local industries and 1 but these concerns are conducted strictly for Army account, and hnd add to the wealth of the Chinese for Japanese people.
Looking round with the greatest care, LUIS impossible to discover any Teal' signs of growing industries in North China. "The talk of industrial development remains so far a pious hope, and the numerous companies which have been formed, ostensibly for that purpose, exist mostly" on paper 01
Text read from the printed page and cleaned; old type leaves the occasional error.