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P|: ,v ft.- PRICE CENTS. fJCffi ADiyURAL TOGO PEACE EXPECTED AS OUTCOME OF TOGO'S VICTORY Washington Looks for End of War as Result of Rojestvensky's Defeat Believes NegotiationsWill Be Thru Prest. Rposeye}^ By W. W. Jermane. FINANCIERS EXPECT PEACE Japanese Victory Causes Hardening of Stock Prices. New York, May 29.Advices re ceived from London and other leading continental financial centers by the lo cal bankers, were all of the opinion that Japan's decisive victory would hasten peace. Eegorts that the government at Washington has signified its -wiUxogness to act as mediator in the event of peace Proposalsfeelingcurrent, Washington, May 29.The Japanese naval victory is expected to bring the war to a close. Advices here are that the United States is still the only great power to whom both Russia and Japan can turn. In addition, both powers have great con- fidence in President Roosevelt personally, and would be willing to trust his judgment on all disputed points. ROOSEVELT FINAL ARBITER. If the belligerents appoint peace commissioners to sit in some capital, to be agreed upon by both, to arrange terms, all disputed points between these. commissioners would be appealed to the head of this neutral government, whose decision would be final. This means that Secretary Hay, if peace is at hand, and the commissioners are to meet in Washington, will hasten his return from Europe. BOARD TO SIT IN WASHINGTON. President Roosevelt some time ago received unofficial assurance that peace negotiations, when agreed upon, would be conducted in Washington, and noth- ing has occurred since to lead him to believe that either belligerent has any other capital in mind. The belligerents must agree on a meeting place. Japan would not accept Trance or Germany, it is said, owing to the pro-Russion stand of those govern- ments. Russia, on the other hand, would not accept Great Britain, which is an ally-of Japan. This list is believed to exhaust the available powers of Europe, leaving the United States as the only power to whom both would willingly turn. GOVERNMENT HAS BEEN NEUTRAL. Popular sentiment in this country is with Japan. But the government has preserved in letter and spirit the strictest neutrality. It is certain that a number of disputes will arise between the commission- ers, and that President Roosevelt will have ample opportunities to display to the whole world those traits of character which have endeared him to his own people. It is believed here that Japan will insist upon retaining control of the Korean peninsula and securing a heavy war indemnity in cash. She will also insist that Russia withdraw from Manchuria. There will be no serious question as to the Japanese overlordship in Korea, or as to the in- demnity, but Manchuria will furnish a very difficult question. MANCHURIA THE HARD PROBLEM. Russia has vested interests there in the form of railway lines and other tangible properties. She may consent to giving Japan equal terms with her in that country. It is over the future of Manchuria that the commissioners will have most trouble. The United States, if called upon to act as intermediary, will undoubtedly object to anything that will interfere with the open door policy. This treaty of peace will have a most important bearing upon the Chinese orient, and upon the trade of the rest of the world with it. As one of the incidental results of the war, it is believed that Japan will raise her representatives to the United States and the other great powers to the ambassadorial rank. As one of the great powers, her diplomacy will demand this. RUSSIA MUST SUE FOR PEACE. Paris, May 29.The late dispatches of the Associated Press showing the crushing nature of the Russian naval defeat have led to the comment that Rus- sia has played her last card and must bring the war to a close. The semi- official Temps this afternoon makes an urgent appeal on the subject voicing the sentiment of the allied nations that Russia should abandon a struggle which has become hopeless and make the best peace possible. The paper says Admiral Ro- Jestvensky was the last hope, and his defeat leaves Japan master of the seas with- out any further chance of the Russian navy or army achieving a victory. were awi added to the opeful in business circles that the end of the war might be looked for. Berlin, May 29.Prices on the Bourse today generally were somewhat higher, owing to London advices and hopes of peace in the far east. Eussians w.ere 4-10 per cent lower. Altho the tone of the Bourse was al ready affected favorably by peace hopes, following the lead of London', of ficial news of the Associated Press from Tokio of Togo's victory caused a spon taneous tho momentary suspension of trading. Then business became more active^ and prices were higher. Bus sian 4 's fell 41 4-10 of a point to 87.60, and then gained 1-10. Kussian funds were held with extreme tenactiy, niostly by investors who are determined to, hold on to them until they rise when the war is over. The Bussian government bank ers are also always watchful in order to prevent a tumble. mi iimiliJuWP* tAFT AND HIS PARTY WILL HALT IN JAPAN Now York Sun Special Service. Cincinnati, May 29."The congres sional party of inspection, whieh is going to the Philippines this summer intends to stop at Yokohama. The steamer Manchuria always stops at Yokohama for two days, and it would be folly for us not to disembark at that interesting fernationaact, ort, the however, to have no in political significance." So spoke Secretary or War Taft last night apropos of the protest of Ambas sador Cassmi of Russia, who, it is re ported, has told the president that such an action on the part of Secretary Taft and his party would be construed as unfriendly to Russia and as calculated to encourage the Japanese. .wrcatfyv^wrsm:^:^ g3&E&i&*tin SUE. %v.mmwmmswm.%v.vxtoxmxa^^ *Mm RUSSIAN ARMADA ANNIfflLATER JAPANESE UNSCATHED WITH 3,000 PRISONERS THE, /zaS&AN* BALTIC TIMELY ^~13SL^ ewewewwee SUICIDE PACT PRINCIPAL GIVEN MAXIMUM PENALTY Special to The Journal. Milwaukee, "Wis., May 29.Arthur Henry Milligan of Brooklyn, N. Y., who formed a suicide compact with Florence Greves of Chicago, whioh she kept at the Hotel Blatz in this city on Jan 26 by drinking a fatal dose of acid, and which he did not keep after seeing her die, pleaded guilty today to manslaugh ter in the first degree and was sen tenced to ten years at hard labor in the Waupun state prison. This is the maxi mum penalty. Parental objections to their marriage was the alleged cause of the compact for suicide. wkssm SEEING STAES. mptmmvfimmm Defective Page BIGELOI.RUINEDBANKER PASSES UPON ASSETS Milwaukee, May 29.Frank G. Bige low, the defaulting bank president, was examined at length today before the referee in' bankruptcy. A list of Mr. Bigelow's assets covering many type written pages was gone over from be ginning to end, each item being taken separately. As each was read, Mr. Bigelow answered as to the value. Many assets, such as mining stocks were pronounced without value. Other items were appraised at their face and still others were said to have depre ciated to the extent of half or more of their supposed value. After the exam ination, Mr. Bigelow's attorney said he could not yet make an estimate as to the value of the assets. CZAR'S ADMIRAL FLIGHT, HIS FLEET CRUSHED Togo Takes Battleships, Makes Nebb gatoff Prisoner, and Pursues Ro jestvensky and Remnant of Big War Fleet RESULT OF THE BATTLE RUSSIAN FLEET. Sunk- Two battlships. One coast defense armorclad. Five cruisers. Two special service ships. Three destroyers. Captured Two battleships. Two coast defense arxnorclads. One special service ship. 3,000 prisoners. Admiral Nebagatoff. JAPANESE FLEET. Not seriously damaged. In the great naval battle fought Saturday and Sunday in the straits of Korea, the Japanese obtained a complete and overwhelming victory. Late ad- vices show that Rojestvensky's fleet, composed of all his most effective and powerful ships, was completely shattered. According to the latest information, two Bussian battleships, one coast- defense armorclad, five cruisers, two special service ships and three destroyers were sunk and there were captured two battleships, two coast-defense armor-,3 clads and one special service ship. Rojestvensky's flagship escaped, badly damaged, and with other vessels ofr" his broken fleet is being pursued by the victorious Japanese. Rear Admiral i| Nebogatoff, however, was captured, with 3,0.00 other prisoners. {S It seems probable that in their crippled condition other Russian vessels will fall into the hands of the Japanese before they reach Vladivostok. While London rumors say that several Japanese vessels were lost, Admiral, 1 Togo officially reports that his squadron was not damaged. A number of Russian vessels still remain near Shanghai, but it is evident that as a fighting force the great fleet has been destroyed. No details of the battle has yet been permitted to pass the Japanese censor, but Tokio dispatches make it clear tnat Admiral Togo is pressing nis advantage and narrassing tbe Bussian vessels which are attempting to take refuge at Vladivostok, and make more complete his already sweeping victory. $M ^jjmtrJm3*TUtmm'0lt-t'' SHERLOCK HOLIES Anqjher Great Detective Story Will* Appear In Wednesday's Journal. 12 PAGES-FIVE O'CLOCK. RUSSIAN FLEET ANNIHILATED. M3i Tokio, May 29.(2:50 p.m.)It is officially announced that Admiral Rojestvensky's fleet has been practically annihilated. Twelve warships have been sunk or captured and two transports and two torpedoboat destroyers have been sunk. In the battle fought Saturday in the straits of Korea the Russian battle* ships Borodino and Alexander in, the armored cruisers Admiral Nakahimoff, Imitri Donskoi and Vladimir Monomach, the coast defense ironclad Admiral dushakoff, the protected cruisers Svietlana and Jemtchug, the repair ship Kaxntschatka and the cruiser Irtessin were sunk. The battleships Oriel and Nicolai I and the coast defense ironclads Admiral Soniavin and General-Admiral Aprazi were captured. RUSSIAN REAR ADMIRAL CAPTURED. *^'5| Rear Admiral Nebogatoff (former commander of the fourth division of the Pacific fleet and recently commander of the information squadron, composed of scouts and merchantmen) with 3,000 other Russians, is among the prisoners cap- tured by the Japanese. Vice Admiral Rojestvensky appears to have escaped. The battle began Saturday morning and the Japanese are still in pursuit of the Russians. Washington, May 29.According to advices received by the navy depart* ment from Tokio the Japanese, in addition to the ships already named captured, the Russian battleship Sissoi Veliky, and the Russian flagship was seriously damaged* ,t r' BIG JAP VESSELS ESCAPED INJURY. SSt An official telegram from Tokio states that Admiral Togo reports to big government that -the total losses sustained lay the Russian fleet Saturday and Sunday were Two battleships, one coast defense armorclad, five cruisers, two' special service ships and three destroyers-Hall,sunk.^ ^_ In addition there were captured two battieahips, two coast 4*imt fr 3* "i