Northern Times.
Liverpool, Merseyside, England, 1859-12-31 00:00:00

MARINE INSURANCE PREMIUMS,
AVERAGES, &c.

The following letter has been addressed to the Neu;
York Shipping and Commercial List :

New York, Dec. 7.
I propose to call attention to some of the causes which
have helped to increase the rate of marine premiums—
say from 44 per cent. in 1844 to 8 and 9 per cent. at
the present time. The chief cause, I think, can be traced
directly to the adjusters, who have formed a custom of
introducing into their adjustment a host of fabricated
charges, such as merchants themselves would not pre-
sume to claim, unless urged to do so by the brokers who
take the adjustment. I refer to the numerous charges
for commissions which have now to be paid, besides
numerous other bills foreign to the loss. These bills
for commission are scattered all through the account,
and often amount in tie aggregate to more than the
whole actual repairs. There is a commission for ad-
vancing the funds to pay the bills; another for paying
them ; again another for collecting the loss of under-
writers ; still another for landing and reshipping cargo,
notwithstanding all the actual expenses for landing and
reshipping are charged in another bill. I have also seen
a charge of 1 per cent. on the value of cargo landed for
giving bonds for same—that is, if a cargo lauded is worth
8200,000, the underwriters are ,-charged $2,000 for the
fact that the owners bound themselves to reload the
cargo again.
To make these matters still plainer, I will give an
extract from a recent adjustment ora loss occasioned by
a ship with k cargo valued at $200,000, which put into
New York for repairs. The following extra charges were
manufactured by the adjuster, although aware that no
such bills had been paid by the ownel:
A commission ofp'e4 per cent. on bills ($8,04)
A commission ofper cent. on value of cirgo landed
and re-ship ($200,000) - 5,000
A commission of 2} per cent. for advancing funds to pay
charges 360
A commission of 2,} per cent. fbr collecting lose'S 3OO
Bill for appraisement of ship, $2O; ditto cargo, $59 7O
Here are charges amounting to 55,930
Made without the least justice or foundation, the owner
actually urging doubts as to their propriety to the ad-
juster, as he had paid no such bills. The adjuster re-
plied, telling him that they were customary charges, and
always allowed by underwriters. The commission for
cargo lauded and reshipped, said he, "is a charge re-
cently come into fashion. Some offices may scold a little
about that, but they always pay in the end."
The result of the above financial transactions was that
the owner of the ship would actually receive from the
different interests represented some $4,000 more than
the whole of his disbursements at New York. This is not
an isolated case ; more than eight or ten of similar
atrocity tave recently come within the writer's know-
ledge, and I -doubt not snores of just such cases-occur -
every year.

Can it be considered strange, then, that premiums
have advanced, when underwriters are called upon to
settle such claims ? It has been urged that underwriters
should refuse to pay under such adjustments. Sonic
offices do persistently refuse, yet the great rivalry among
the different offices induces many to settle such claims
for the purpose of getting up a reputation of liberality.
Others, perhaps, may argue that it is better to allow all
these claims, well knowing that premiums must go up
accordingly, and that it will make but little difference to
them in the long run.
The merchants alone are the sufferers in this matter,
and they must apply the remedy. Let them learn to
say to the adjuster, when he proposes to put in these
extra charges, " No, sir, I have paid no such charges •
and if I have, through the incompetency of myself or
master, been obliged to employ assistance to perform
our duties, it is but right that we should pay for the same
ourselves."
Another gross abuse tending to increase claims on
underwriters, and consequently advance the rate of pre-
miums, is the habit of incompetent masters employing
commission agents to conduct their business in relation
to repairs. The following two cases will show the dif-
ference resulting from this management.
The ship Northland, 930 tons, on a voyage from New
York to Valparaiso, met with heavy weather, during
which she sprung her mast, oarried away spars, and
strained the ship, causing her to leak one foot an hour.
She was obliged to throw over a portion of her cargo,
and finally put into Rio Janeiro for repairs, in Decem-
ber, 1858. Here she discharged a portion of her
cargo, put in a new mast, recaulked the ship, and
thoroughly repaired the damage to the hull, spars, &c.,
reloaded, and proceeded on her voyage. The master
managed the business himself, and sent home the bills to
the owners. They placed them in the hands of the
writer of this article, who made up the adjustment of the
loss. The general average charges amount to about
$1,500, and the partial loss to about $l,OOO, not a claim
under the policies. A note was made at the bottom of
the adjustment which induced the underwriters to pay
the partial loss, although not a claim legally. The
other case was that of a ship Theresia, 900 tons. On a
voyage from New York for San Francisco, only two
months afterwards, she put into Rio with the same
extent of damage, same kind of cargo, and had about
the same repairs for her, under the direction of commis,
siou agents, instead of the master. Her bills were about
$26,000, for Which the master was obliged to bottomry
the ship. --fs there any need of comment here ?
If necessary, many cases of similar import could be
instanced which have occurred at Havannah.
Now, does not this matter call loudly for reform ? If
'the underwriters are to blathe for yielding in these cases,
detrthem apply the remedy. If merchants are the sufferers
la—lo who can doubt that they are ?—let them come to
Ireacue; when losses resulting only from the dangers
insured against are presented for payment, premiums
will soon come down.
•
SERIOUS ACCIDENT TO MR. RENNIE.—We regret to
learn that Mr. Rennie, the engineer, while crossing the.
Blackfriar's-road, on the Ist instant, on his way home,
was knocked down by the horses of a coal-wagon, both
wheels passing over his legs, (heedfully lacerating them. _ _
He now lies in a very precarious state, attended by Mr.
Lawrence, the surgeon. Mr. Rennie was picked up, put
into a cab, and conveyed to his house in Whitehall-
place.
THE FATHER OP THE NEW SOMCITOIt-GENERAI,-,^l-=
The appointment of Mr. Atherton as solicitor-generia
has called to our recollection an amusing anecdote ija‘,.„ booß
-
relation to his father, who was a well-known Wesleyan mitt fot
minister. At the time we refer to Mr. Atherton, the. :obf,
elder, was settled at Liverpool, and attended as a depu- '
tation at a missionary meeting in the Wesleyan Chapel,
blessed with
a. g
In thoseas
chandelierdays oir
i n Wesleyantheir
c chapel, friends
s which were
was perfectly unique. It consisted of one immense
circle of pipe, with small holes pricked in it, and was
kept in its position by iron rods from the floor. There
was but one tap to let the gas on, and accordingly
aaN
eprtalhibselheedbelabudyal
cistaeynt
dloaebf
fixed
ste
d aestetlightingahp it (which
eescaped
end
beforeo fa
long
task
hestick)hle
had
completed his round. At the meeting we allude
to, a not unusual circumstance occurred, to wit,
the beadle had passed over some of the holes, and the
escape of Bea htkike (whilst Mr.-Atherton was speaking)
intolerable. The lamplighter had to be set to work, and
for a while he was in possession of the house, Mr.
Atherton gracefully giving way. When matters were
righted, Mr. Atherton resumed ; but instead of taking
up the thread of his discourse, he commenced a con-
gratulatory address to the Wesleyans of Oswes!xy. He
was glad they were not idolaters. He had observed
that they all looked up to the chandelier, and if they
worshipped it, he knew of no law, human or divine,
which could prevent their doing so, for—it was like unto
nothing in heaven above, in the earth beneath, or in the
waters under the earth—but a precious deal uglier than
anything to be found in either ! The reverend gentle
man then proceeded with his missionary address, and in
due time the meeting closed. In less than a month the
chandelier had disappeared. —Oswestry Advergiser.

`i

dommatint cSatri27.l

NEXT WEEK. --

------
DZOti=J;l

72.7-irl-..141 ,j,.• nV7i
•

~~.~ L''l
~G

51 :Are in a

On Monday next, the 2nst.clay-,0( January, at Twolve o'clock,
at tb6 ebinbiercial Sale Room, 'cemple-court, , PRIM
1252 italf-chests I;isbon ORANGES, •cc x Bra -ap7...1. *
8 BoAces .T.mgeninc. • • Do. ! • *.
871 tlalf-cliest St. 'CMOs 01.t.tNGES ex .Aggia.
2665 Illiox64.Paleittia:oll,ANGEs, ex Nutideeoi:)'' 41€41 7".
1350 Boxes Palermo ORANGES, ex , odi
100 1 '7"
967 'Boxes St..slichael's ORANGES, I'orZOnith,Excelsior
31 Small r ,Do. i Arrow, & B.cdcoat:
200 tfrixCs-l'alerrnO ORANGES, ek Eceutia.
1500 -Belies Palenno ORAN`GES,
80 Half-boxo.; Mandarin ORANGES,
183 noses Rittor ORANGES.
29 Palermo LEMONS,: ex Calpe:
112 Ca.,!e•4 Naple.i Do.
10 Bags Naples WALNUTS,. "
II Genoa CIIESNII'S,
274ga11-chests Lisbon ORANGES.
• ~it• r •