Monday, May 20, 2013

London Quotes War Risks.

New York Times 100 years ago today, May 20, 1913:
Inquiries About Coal to Manila and Property at the Golden Gate
By Marconi Transatlantic Wireless Telegraph to The New York Times.
    LONDON, May 19.— Several inquiries were made to-day in the insurance market in connection with the dispute between Japan and the United States. There is often considerable trade in coal between South Wales and the Philippines, and the underwriters were asked to name rates whereby the war risk on coal, sent to American consignees at Manila, could be covered. The underwriters had divergent views as to rates to cover shipments during three months, varying from 5s to £1 per cent.
    A proposal was also made for insurance on property on the California coast near the Golden Gate against the risk of bombardment by Japanese warships. Five shillings per cent for a year was quoted. War insurance on the fleet of British steamers trading between England and Japan was renewed at 7s 6d per cent. the same rate as was paid a year ago.

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