51�Թ�

Military conquest of the three Manchurian provinces— Heilungkiang, Kirin, Fengtien—was almost complete.

Upon timber being shipped from Fengtien and Antung to Peking, it has to pay duties at five different places, the total amount of which aggregates 20 per cent of its market value, while timber from America is taxed only ten per cent.

Upon timber being shipped from Fengtien and Antung to Peking, it has to pay duties at five different places, the total amount of which aggregates 20 per cent, of its market value, while timber from American is taxed only ten per cent.