It is estimated by Lloyd's that as a i result of the action of enemy submarines _p,p(l.,tjie,,diversion, of. resources normally Employed!, in replacing lossffis'nnd fconnew tonnage, the not reduction'in the merchant shipping of the world during the last six years amounted to .3,516,000 tons, this figure being based on the assumption that the ratio, of increaso during the Inst six yours would'have been four-fifths of the average rate of increaso durine the previous ■ six years,
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Dominion, Volume 14, Issue 73, 20 December 1920, Page 6
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75Page 6 Advertisements Column 1 Dominion, Volume 14, Issue 73, 20 December 1920, Page 6
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