THE WHITE HOUSE
 
   WASHINGTON
 
                                   May 25, 1942
 
TO:              THE PRESIDENT
 
FROM:     MR. LUBIN
 
SUBJECT: SHIPPING LOSSES -
            December, 1941 through ApriL 19.
 
    1. During the five months since the United States
entered the war, 3,890,000 DWT tons of United States
and United Kingdom shipping have been lost.
 
   2. Less than half of this loss has been offset by new construction.
 
   3. Whereas the tonnage available to the United States and Great
Britain on December 1 was 40,001,000 DWT tons, the net
available on May 1, after new construction had been taken into
consideration, had fallen to 37,997,000 DWT tons, making a net
loss of 2,004,000 tons for the period.
 
(See table No. 3 and bottom of chart No. 2.)