The development of the crisis in the North continues to throw on citizens of Shanghai the heavy responsibility of exercising the greatest prudence and caution in the light of its special cosmopolitan and international position. It has been noted with satisfaction that, thanks to the timely ce-operation of the Chinese and Japanese authorities, a great measure of calmness has happily marked the successive days of anxiety, There is no doubt that the Government at Nanking has set a good example. The absence of flurry and excitement has engendered a confidence which the markets have well reflected, considering the severity of the upheaval. During the Sian affair last December the Government acquired the faculty for proving its composure in a time of stress and came out of the ordeal with its reputation enhanced, That has perhaps accounted for the admirable way in which Shanghai has stood the strain, Now that graver events seem likely to force themselves on public attention, it is all the more desirable that the restraint of tolerant citizens in an international community should be upheld. It is hoped that from no quarter will unconsidered emotion be developed to expose the community to the danger of a sudden passion. News of reported "Chinese successes naturally caused rejoicing in Chinese style te the disturbance of yesterday's atmosphere and tympana but fortunately little else. It is urged that such ebullitions should be discouraged in the interests of general amity, especially as they often, as past experience shows, run the danger of being premature or ill-founded. Chinese, Japanese and other nationali here all have to live in peace with one another, whatever may be happening in the China outside. Let that thought be the community's guide Íor the present emergency às it develops.
Text read from the printed page and cleaned; old type leaves the occasional error.