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No. 10 ……. Contents: It’s Parity – Not Subsidy By Rear Adm. H. L. Vickery ….. Trial Run ….. Ironmasters vs. The Admiralty ….. District Craft Take Over ….. By Their Insignia You Shall Know Them ….. Chemistry Builds Ships ….. Freight on River Waters ….. The Story of Our Ships – Part 7 ….. Quarter-deck quiz ….. Riding the Shallows on Pontoons ….. Answers to Quiz on Page 29 ….. A Fan Sails His Ship ….. New Books Afloat