WAR RISK INSURANCE

Evening Post, Volume CXXVII, Issue 108, 10 May 1939, Page 11

WAR RISK INSURANCE

RATES REDUCED

BRIGHTER VIEW IN THE CITY

(Independent Cable Service..

LONDON. May 0/

A big reduction in war risk insurance rates for shipping was announced last night. The additional premium for voyages through the Mediterranean and the Baltic has been cut from £1 per cent, to 12s 6d and basic rates to many countries have been reduced 2s 6d or more.

Meanwhile confidence was maintained in the stock markets, with an in-

crease of business. The good unemployment figures have stimulated public buying, while the City takes a brighter view of the international situation. Oils and mines show the best improvement.

The Imperial Economic Committee reports that the wprld consumption of wool fell steeply in 1938 compared with the three previous years. The smaller American and Japanese consumption was more than offset by increased purchases from Germany by trade agreements.

The development of television will no doubt produce striking results in the comparatively near future and may well be comparable with the invention of printing in its influence on mankind, Mr. H White, chairman of Marconis, declared at the annual meeting that the sale of receivers was so striking that manufacturers were already preparing for mass production.

Advices by cable were received in Wellington today showing the reduction in the rates ,of wai risk marine insurance as follows:—-From United Kingdom to New Zealand, via Panama or Cape, reduced from 15s per cent, to 10s per cent.; from New Zealand to the United Kingdom, via Panama and Cape, from 20s to 15s per cent. These rates are subject to an add:tional premium of 12s 6d per cent, for the voyage in and through, and to and from the Mediterranean.