Caption on reverse [translation]: "Aiming for Elite Troops! Zhang Xueliang Working Hard in Hankou. (Hankou) Rengo. Standing at the vanguard and intent on cultivating staff officers in order to having elite troops, Zhang Xueliang, who was driven from Manchuria and recently finished his travels in Europe and returned to China, has established a new military training …

Caption on reverse [translation]: "(Hankou). 1. Wang Jingwei gives his first public speech since the retreat to Chongqing at Hankou Zhongshan Park (18th). 2. The public enjoying Wang's speech. [Stamped] April 21, 1940."