THE great battle for which the world has been looking for several weeks has at last taken place between the great fleets of Russia and Japan in the Japan Sea, resulting in the almost complete annihilation of the Russian fleet. Three small vessels of the latter fleet succeeded in making their way to Vladivostok; three have now reached the shelter of Manila Bay, in the Philippines; and one disabled destroyer has been towed to port by a British merchant ship; but these seven are terribly battered and torn by shot and shell, and all have lost many members of their crews. The battle opened on May 27, was continued through the night and a considerable portion of the following day. The Russians had thought to outwit the Japanese, take a course that would not be expected, and reach their destination with at least the larger part of their fleet. As it was, they steamed directly into the trap which Admiral Togo had prepared for them, were enveloped on all sides by the swift Japanese cruisers, torpedo-boats, torpedo-boat destroyers, and ponderous battleships. Their gun-fire was actually smothered by the terrific hail of shot and exploding shells that was rained upon them. The commander of the Russian fleet, Admiral Rojestvensky, was desperately wounded, and was captured on a Russian torpedo-boat destroyer to which he had been transferred. Admiral Nebogatof, who was in command of one portion of the fleet, was forced to surrender himself and his ships. His act in surrendering, instead of sinking or blowing up his ships, is depricated by the officials of Russia. Rear-Admiral Folkersham, who was in command of the battle-ship squadron, was killed the first day of the battle. Thus has Russia's great navy been practically swept from the sea, and with an almost insignificant loss on the part of the Japanese fleet. Japan lost only three of her torpedo fleet, and not a single cruiser or battle-ship. In view of the terrible losses which Russia has already sustained, both on land and sea, all the nations of the world are expecting her to ask for terms of peace as the only logical course; but the Russian war party seem as firmly set as ever against making peace proposals. Russia is increasing her army in Manchuria, and reports indicate that another force of 200,000 men is to be mobilized at once, and sent to the front. It is expected that another great battle between the land forces will be opened within a few days.