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Our trails didn't cross while I was in Japan in the Japanese-Russian War, and in the Transvaal I missed him by a few days, but in Vera Cruz I had many enjoyable opportunities of becoming well acquainted with him. The privilege was a pleasant one, for it served to dispel a preconceived and not an entirely favorable impression of his character.

It was in the days of the Japanese-Russian War, but the constant echo of the great conflict that sounded around her disturbed her no more than it did the birds overhead. All day long the bugles sounded from the parade-grounds, and always and always the soldiers went marching away to the front.

Here she broke off in confusion. "Go on," the man said, smiling reassurance. "You are Jack Hastings, I 'm sure of it. I used to see your photograph in the papers all the time you were war correspondent in the Japanese-Russian War. You've written lots of books, though I've never read them." "Right you are," he ratified. "And what's your name?"

It seemed he had always been running something somewhere that it ought not to have been run. And he had never outgrown it. One letter, on crinkly tissue paper, showed that as late as the Japanese-Russian War he had been caught running coal into Port Arthur and been taken to the prize court at Sasebo, where his steamer was confiscated and he remained a prisoner until the end of the war.

Daylight still engaged in daring speculations, as, for instance, at the impending outbreak of the Japanese-Russian War, when, in the face of the experience and power of the shipping gamblers, he reached out and clutched practically a monopoly of available steamer-charters. There was scarcely a battered tramp on the Seven Seas that was not his on time charter.

Both in the number of lives and the tonnage lost, the battle was the greatest sea-fight in history, as well as the first in which modern dreadnaughts have been engaged. Never before have two naval forces of such magnitude as the British and German high-sea fleets engaged in combat. The greatest previous tonnage loss was during the Japanese-Russian war.

To-day the East is as near as San Francisco; the Japanese-Russian War, our occupation of the Philippines, the part played by our troops in the Boxer trouble, have made the affairs of China part of the daily reading of every one.

He must have been a war correspondent, because he compared the present great war with the Japanese-Russian War and with the South African War, and he seemed to have been right in the middle of both, or he could not have spoken so intimately of them.

Amidst all this prosperity there were forces which were bound to bring a reaction and among the most important of these was the demand for capital for conversion into fixed forms. Ready capital was also lessened relatively by the great losses experienced as a result of the Spanish-American War, the Boer War, the Japanese-Russian War, the San Francisco earthquake, and the Baltimore fire.

This was the Cambrian, Captain Lewes commanding. He and I had first met in Korea during the Japanese-Russian War, and we had been crossing each ether's trail ever since without ever a meeting. The day the Snark sailed into Suva, in the Fijis, we made out the Cambrian going out. At Vila, in the New Hebrides, we missed each other by one day.