Tho return of losses from submarines issued on Thursday shows
that both the sailings and arrivals were considerably more than in the previous week. The arrivals rose from 1,986 th 2,528 and the tailings from 1,959 to 2,554. The number of vessels sunk over 1,600 tons was sixteen as compared with thirteen and fourteen in the two previous weeks. The number of vessels sunk under 1,600 tons was eight as compared with four and nine. The changes are not startling one way or the other. The blocks and gaps in the traffic seem to be more accidental than attributable to the with- drawal of neutral shipping. Neutrals, we believe, are gaining confidence. The number of armed vessels which successfully resist submarines rises every week. The figures for the past three weeks are twelve, sixteen, nineteen.