Peiping, Feb, 2.
PHE Tsingtao Conference has been a complete success. There} has been complete agreement on every single point." Thus, the Japanese spokesmen said herein varying strains of enthusiasm. But, as the terms, under which Mr. Wang Ching-wei was to assume office as head of the new government, had been laid down by the Japanese and accepted by him, before the conference had opened, the "success" is not so very astonishing, There have been so many conflicting stories as to what has been actually agreed on: vague official statements for public consumption, runiours of all kinds as to further secret clauses, and ast but not least, the document that was made public by the two followers of Wang Ching-wei who escaped from Shanghai. It is not at all clear, however, exactly what form the new govern-
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