THE PRESIDENT                 -2-                 May 5, 1942
 
week. This is the smallest net decrease for any week since March 1st.
(See attached chart). During the week of April 19, net losses were
170,000 tons.
 
           Summary for the Four Weeks Ending April 26
 
     7. Total shipping losses for which notification was received
during the four weeks ending April 26 aggregated 1,136,000 tons. This
is at an annual rate of almost 14 million tons. The losses during the
first four weeks in April were 113,000 tons greater than in March.
 
     8. New construction during the four weeks ending April 26
(tankers and cargo vessels) was 142,000 tons greater than in March.
The total for the four weeks was 492,000 tons.
 
     9. The decline in tonnage available to the United States
and the United Kingdom during the four weeks was 644,000 tons (losses
minus new construction).
 
Tankers
     During this 4-week period, tanker sinkings were 441,000 tons.
Only 83,000 tons of new tankers were put into operation.
 
Cargo Vessels
     Cargo sinkings for the four weeks were 695,000 tons. New 
construction amounted to 409,500 tons.
 
                       Location of Losses
 
     10. Preliminary figures now on hand, based upon the actual
date of sinking, account for 941,000 DW tons lost between April 1 and
April 30. Of this total, 476,000 tons, or more than one-half of the
total, were lost in the Atlantic Ocean west of 45'W. In the Indian
Ocean losses were 186,000 tons. (See Table I and map).
 
     Table II attached shows new construction and losses of cargo
vessels and tankers for the week ending April 26.