NMR from Italy results in F Tunis being disbanded.
 
English Fleet Sweden retreats to the Baltic Sea.
 
Deadlines for Winter 1904 Builds/Disbands is Saturday 23:59. 
 
Ownership:
 
Austria:   Budapest, Rumania, Trieste, Vienna.
England:   Norway.
France:    Belgium, Brest, Edinburgh, Liverpool, London, Marseilles, Paris, Portugal, Spain, Tunis.
Germany:   Berlin, Denmark, Holland, Kiel, Munich.
Italy:     Naples, Rome, Venice.
Russia:    Moscow, Sevastopol, St Petersburg, Sweden, Warsaw.
Turkey:    Ankara, Bulgaria, Constantinople, Greece, Serbia, Smyrna.
 
Adjustments:
 
Austria:   Supp  4 Unit  3 Build  1
England:   Supp  1 Unit  2 Remove  1
France:    Supp 10 Unit  7 Build  3
Germany:   Supp  5 Unit  6 Remove  1
Italy:     Supp  3 Unit  3 Build  0
Russia:    Supp  5 Unit  5 Build  0
Turkey:    Supp  6 Unit  6 Build  0