MENACE OF THE RAIDER.

Auckland Star, Volume XLVII, Issue 33, 8 February 1916, Page 7

MENACE OF THE RAIDER.

INSURANCE BATES INCREASED. ADVANCED TO THREE PER CENT. It does not take long for the ndvent of a German commerce raider on the high eeas to affect the* shipping business of the world, which is only one more evidence of the great work done by the British Fleet in keeping the navy of the enomy so closely bottled up thaj there has been practically no danger from actual capture for over a year. This position of fancied security against ordinary dangers of war has been temporarily ended by the surprise caused when it was learned that ar\ enemy raider was at work in the Atlantic Ocean, and that a steamer had been aont into a neutral port with a German prize crew on board. The immediate result has been that the British Marine Underwriters' Association has increased the rates for extra insurance against war risks on all ships' cargo and f roighta.

Information to that effect was received by local offices by cable yesterday aftornoon, and the new tnriff comes at once into operation. What principally concerns New Zealand is the rate for insurance on vessels trading through the Atlantic Ocean to the United Kingdom. For some time that rate has stood at H per cent, but this has now been advanced to 3 per cent. Tins is also the rate to French and Mediterranean porta on shipping from the United Kingdom outwards via Cape Horn or Cape of Good Hope. For the longer voyage via Cape Horn and the United Kingdom, thonco to the Mediterranean, the risk is assessed at 4 per cent. Quotations are not altered for the Mediterranean route to the United Kingdom, which still stands at 5 per cent, and the rate to Suez and" Port Said remains at H per cent. For voyages through, via Cape Horn to the United States and Canada, the rate is still 1 per cent., and for vessels trading to the Pacific only 5 per cent, is charged. On sailing vessels trading between the United States and New Zealand bhe rato is 3 per cent. The tariff to Holland, Sweden, and Norway has £lso beon increased according to the new scale.