LOSSES AT LLOYD'S.

Otago Witness, Volume 06, Issue 2899, 6 October 1909, Page 12

LOSSES AT LLOYD'S.

A SERIES OF CASUALTIES.

CFaoM Gun Own Cohbesjondemt., LONDON, August ' 6. A marine insurance correspondent writes: — "it is a very long tins? sine** ao much, interest has oeen .manifested, in. the casualty board a-s lyJoyd's as was shown yesterday, crowd.* ot- , ut-daxw risers and brokers watching it from tbe time of opening to 4- o'cock. The first telegram to attract attention was one from Caoetown stating tnac the. two" tugs ned "returned from sseking „the xnie&vng lin-er Warafcah, • not having seen anything 1 'of her. The rate for reinsurance at onoe rose to 60 guineas, and no fresh news having arrived by 4 o'clock it went to 75 guineas, a .price which shows how very seriously the market looks upon her long" passage. ; ,.Just before, noon .another telegram arrived from Capetown, this time bringing news of the wreck of the Shaw, Savili, .and - Albion liner M^ori. This is a very heavy loss to r the marine insur;ance market, the gteameir'bein^ insured for £40,00fl, " aiid ateo'the oairgo.^Xmich consists of 7000' tons or valuable goods, amounting' to at least '£l2o,ooo: -THfc, on the top of the heavy claims arising 'from tlhe coll.sidn ■of 'fche '• Tongariro " and Whekatancj going also to' New Zealand-, -makes this, voyage -bulk heavily in • underwriters' claim, books.. Thje> loss or the Maori was hardly confirmed) when. Jiew» arrived from the .Wielsh coast stating. that t^ jHgulder liner Langtou -Grange hed.gonej aspon© near the. North Bisjpp's. light; an cj „ that her engineropzn a,pd f gbiije of the holds were full of water.' ' She 1 "fortunately HiicV no cargo onT board, l>ein'g'on a voyage* 'from the Clyde to Newport and Avoiwnouth to load. She is 5852 tons register, and was built in Belfast in 1896. Her insured valuo is £61,000, so that these two vessels mean a lcee of nearly a quarter of a millionpounds. .• The following -fin^v liners have been lost this year:— Republic (Trieste to ' New .York), Clan Ranald. (Adelaide to London), Matixatta (Calcutta' to London), 1 Slavonia tXi&w York to' Trieste)." The unusual ' coincidence -of t\V6 large Australian liners betn£ wrecked on one day will not be easily forgotten -at Lloyd's, and th©r» was ransidcra-ble excitement yesterday when, following the postinig-of the- Honlder liaar Laogton Grange, ■ wrecked- <m tha North Bishops, the cable announcing- the. Joss of ths S.S. and A. liner Maori wa» put up. Underwriters are heavily interested In ihe Maori (says the Morning Post), the Ices on which ship and • cargo is believed to exceed £125,000. The London steamer Langton Grange is a, rather larger and newer vessel than the Maori, but there are not the heavy cargo interests at stake on her Sha is in the regular Australianservice of the Boulder Line. There is considered to be a possibility of this vessel being refloated, but the last rate pai<f on her, 70 guineas per eerat., shows tJiao her position is regarded as critical in the pxtremc. Irisairers have abcut a-quarter of a million at stake upon the- Waxatah, but the exact amouaut is uncertain, and cannot be asoeirtaiued until the cargo manifest is received. The cargo consists of Austradian products— wool, frozen meat, butter • and fruit. The hull of the Waratah alone ie valued at £150,000. It ."s nothing unusual for premiums to be increased after ossea, but there was quit© a difficulty yesterday in covering cargoes to and. from Australian ports, even at substantially' higher prices, and, roughly speaking, the - rates of jnsurance advanced 25 to 30 "per Mat. above those usuaUy charged. Such vi morose is hardly likely to be S