Page 11 Advertisements Column 1

Sun (Christchurch), Volume VII, Issue 2142, 27 December 1920, Page 11

It is estimated by Lloyd's that as a result of the action of enemy submarines and the diversion of resources normally employed in replacing losses and constructing new tonnage, the net 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 increase during the last six years would have been four-fifths of the averate rate of increase during the previous six years. If you have a cold in the head use the Nazol Inhaler. A few sniffs, and you notice a marked relief. Keep it tip and the cold soon vanishes. .3