Text describes action on various war fronts: Jap advance lines cut -- U.S. bombers in India -- Jap defeat in China -- Tribute to team work -- Tokyo raid confirmed -- Axis attack forecast -- Subs in St. Lawrence -- Plan relief corps -- WAAC bill passes -- State laws 'brake' war -- Deal at Martinique -- Raid Jap settlements -- Peru's president here -- Freight by plane -- Gas rationing starts -- Indies fliers here -- British announce war casualties -- R.A.F. pushes attacks -- Gort to Malta command -- Mission to Africa -- Spring offensive on -- Norway plant wrecked. Large world map is keyed to text and illustrates time zones around the world. Inset map shows German and Russian advances near the Black Sea. Includes photographs: Lt. Gen. Stillwell -- Vice Pres. Wallace -- Lt. Gen. Somervell -- New bombs piled underground awaiting delivery -- Lord Gort -- Russian troop answer the Nazi assault -- British troops practice street fighting tactics. Includes 1 cartoon.

Demand patterns for world oil and oil products show significant diversity by country, region, and product groupings. As a result of this diversity it is not possible to attach blame for the current level of price to any one nation, region, or product segment. The view that the oil market is international in scope and tightly interrelated is enhanced by the demand data. As a result of the integrated nature of the world oil market it is unlikely that any one nation acting on its own can implement policies that isolate its market from broader price behavior. As new major oil importers, notably China, and potentially India, expand their demand, the oil market likely will have to expand production capacity. This promises to increase the world’s dependence on the Persian Gulf members of the Organization of Petroleum Exporting Countries, especially Saudi Arabia, and maintain upward pressure on price.

Letter from E. R. Hill to D. W. Kempner discussing about opening cotton business on "Queen Mary". He mentions his role as director of Nanyang Cotton mills and mill's demand for American cotton. He also invites Kempner to provide quotes for his demand and expresses willingness to secure orders. The letter also includes a post card indicating that it is from E. R. Hill and an envelope targeting to D. W. Kempner