25 AUGUST 1917, Page 2

As to our shipping losses, mainly from submarines, Mr. Lloyd

George said that since February the net losses, after eledueting newly built ships, had been under 250,000 tons a month, or lees than half as great as the enemy asserted them to be. Our gross losses increased rapidly from February let, when the unrestricted sub- marine •warfare nominally began, and in April amounted to 500,000 tons. After that, the Admiralty's new methcds began to tell on the submarines ; the gross shippirg horses fell to 320,030 toner for July, and would probably be smaller for August. Our net losses since July 1st would be about 115,C00 tons-a mentle,mr third only of the enemy's estimate. Oar losses were diminishing, while our shipbuilding was increasing.