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Last week we lost by mine or submarine eleven large

merchant- men over 1,600 tons, one smaller vessel, and one fishing-boat. The losses were numerically less than in the previous week, when thirteen large vessels and three smaller vessels were sunk. Ten stripe drove off the lurking enemy. We must hope that the AdmintIty diagrams lately published, showing a downward curve for the losses of merchantmen and an upward curve for the rankings of 'U '-boats, will prove to be prophetic, but the fact is that our weekly losers are still far too great to be viewed without anxiety.

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