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The Admiralty return of merchantmen lost by mine or submarine

shows that fourteen large vessels and seven small vessels were lost last week, as compared with sixteen large vessels and one small vessel in the previous week. This was the fourth bad week in succes- sMn, so that the enemy's renewed efforts have not yet been foiled or exhausted. The submarine menace is the only serious danger with which we are threatened, and the need for strict economy among all classes and for still greater efforts in the shipyards was never more urgent than it is now.

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