5 OCTOBER 1918, Page 3

The merchant ships completed in British yards last month had

a tonnage of 144,772. In the same month our shipping losses amounted to 178,401 tons. The shipyards are undoubtedly doing better, but they are still unable to replace our current losses, small as these are in proportion to last year's losses, to say nothing of restoring our Merchant Marine to its old strength. But for the vast output of the new American yards, the shipping question would be even graver than it ii.