TOY BOAT WRECKED.

New Zealand Herald, Volume LXVI, Issue 20300, 6 July 1929, Page 3 (Supplement)

TOY BOAT WRECKED.

INSURANCE BY LLOYDS.

Lying at the bottom of the ornamental lake in Kensington Gardens, London, is a boat fully insured at Lloyd's. It belongs to Richard Levy, the 14-years-old son of a scientist, Dr. L. Levy, of Cricklewood. Richard, who is at a well-known public school, is not only an ardent lover of model' boats, but also builds his own. His first attempt at shipbuilding was a failure, for on the day of its launching in the Ilampstead Pond his boat was totally lost. When it came to building a second craft, fitted with a little boiler which was heated with a blow-lamp, Richard entered into negotiations, and for a premium of ss, plus Is 7d for the policy fees and stamp duty, it was insured at Lloyd's for C 8 against the risks of fire and damage by collision while actually running on ponds or lakes For a further 2s 6d lie was covered against sinking and stranding and also against salvage charges. The day came when the ship was wrecked on the waters of the Round Pond and the underwriters arranged with the authorities to endeavour to salvo the sunken vessel at a cost of £1 if the boat bo recovered or 10s in the event of the salvage operations proving unsuccessful. Two experts were sent hut failed, the underwriters then sent Richard a cheque for £8 83. 4d.