Salt Lake Telegram | 1917-10-13 | Page 12 | U. S. Ship Losses Show 1100 PCT. Increase

U. U S. S SHIP LOSSES SHOW 1100 11 00 PCT INCREASE 4 By United Press WASHINGTON Oct 13 American 13 American shipping losses s duo due to submarine ac activities activities ac- ac during the tho first six months o ot of 1917 1017 amounted to eleven cleven times the total tola losses of ot the the- two previous years Dr Wl William lIam C. C de Lano Lanoy chief of ot th the United States war risk insurance bu bu- bu- bu reau reap told the tho United Press Since January 1 1 1917 1017 the bureau has insured of or American cargoes cargoes cargoes car car- goes with wilh a loss of ot Previous to that time the bureau had lost only due to submarine sinking Since Sinco the beginning of ot the tho war in 1915 the total salvage of ot vessels sunk amounted to only Millions 1 of or dollars are saved sa to American exporting firms every month by the bureau insurance rates On the I worth of ot cargoes so 80 far insured the rate has been a little less than 2 per cent American Insurance firms finns as a rule I are refusing to Insure car cargoes oes entering tie the war zone but where they are willIng willing will will- ing lag to take the risk the premium runs higher than 15 per cent Marino Marine Insurance rates in England run from 8 S to 16 per cent while the thea a average vera e European rate is between 8 and 12 per cent The monthly average of ot ships In Insured Insured insured In- In during the two years previous pre to 1917 was only sixty-four sixty vessels The number insured during June 1917 was 1405 1403 I I Up to date the bureau has not lost a dollar on the insurance of or seamen and officers under the provisions of ot the new lew war risk insurance bill recently passed by congress It is estimated estimated estimated esti esti- mated that before the war is terminated terminated about seamen will be In Insured Insured insured In- In at an average insurance of ot 1500 per man The cost of ot insuring these men will Wm be borne by tho the owners of ot the tho pon which the men sail sall