Eaton weekly Democrat. [volume] (Eaton, Ohio) 1866-1875, 1871-11-23
LOSS OF THE ARCTIC WHALING
FLEET.
Terrible Blow New Bedford-Extent
of the Losses to Owners md Insurers.
From the New Bedford Standard


of the Losses to Owners nnd Insurers.
From the New Bedford Standard.
New Bedford is suddenly called on to
take her part in the general disasters of
this unprecedented season of calamity
by the loss or abanonment of thirty
two (thirty-three, in dcluding the bark
Oriole, before reported LOST, out of the
fleet of forty-one whalers in the Arctic
Ocean, our own port losing twenty-one
vessels, comprising one-eighth, and
among them the best portion of our en-
tire whaling fleet, the news of which
fell like a thunder-stroke upon our
merchants and citizens last evening.
This is the heaviest blow which has
ever fallen upon our leading business.
Though many valuable lives and costly
vessels have been before lost in this per-
ilous occupation, yet never yet before
has there been such a wholesale destruc-
ton. Our best vessels and very large
amount of capital have been swept
away in a single season, and it will take
our city many years to recover from the
effects of this fearful disaster. None of
those who venture on the seas are eX-
posed to greater perils than that adven-
turous class of whalers who seek their
prey within the limits of the Arctic sea.
Every season has witnessed the loss of
ships which remained late came near
came down from the North so early and
in such masses that the whole fleet was
enveleped and driven ashore. 1t is a
sincere matter of congratulation that
SO far as is heard from no lives have
been lost. This loss will fall heavily
upon our community, and its real ex-
tent will not be apparent from the mere
list of agents, as the ownership of the
vessels lost is largely distributed among
those of moderate means. Though
many owners are insured, yet as our
offices are mutual ones, they will have
to bear their proportion of the losses
falling upon them. But serious as this
disaster is it will not be a crushing one.
One compensating effect will be to in
crease considerably the value of the
stock of oil and bone and the vesselsin
port. Our merchants will display their
usual energy and enterprise, and we
hope will move actively toward retriev
ing the loss they have met with. There
are over thirty vessels lying at our
wharves, which can be fitted out in time
for another season, if they are rapidly
made ready. The perils of Arctic fish
cry have been so great that it has already
become a matter of serious considera-
ton whether it was prudent to insure
vessels entering Behring's Straits, and
we presume this calamity will lead to
some action on this subject.
The catch at the North saved by the
six vessels which have arrived at Homo
lulu only foots up the meagre amount
of 2,4S5 barrels whale and 40 barrels
sperm oil. The stock in first hands in
the country on the first instant was only
"a 900 barrels, held by comparatively
few houses, and although the price will
go up it will not help out the large body
of owners in the ships. The stock of
whalebone is 1885, 200 pounds, in but few
hands. The Commercial Marine Insur-
ance Company, of this city, states its
losses to be in gross Il. e., the face of the
policies) $73,225, as follows: On the
Awashonks, $500; Emily Morgan,
$1,000; Eugenia, $1,000; Fanny, s., 800 !;
Gay Head, $1,000; George, $2,5OO;
Massachusetts, $4,000; Minerva, So, ,125 !;
Navy, $4,000; Reindeer, S., 900; Roman,
Seneca, Sic, 1000; Champion, of Edgar
town, $500. The other offices decline
to give any figures in detail at present.
We learn that the gross amount of the
losses of the Union Mutual Marine In
surance Company is about 1895, 700, and
of the Ocean Mutual Insurance Com
pany about $173, 200. The Union will
be able to pay all its losses and have
100000 remaining by calling in scrip,
and the Commercial has surplus suff-
cient to meet its losses. The Ocean
will be obliged to make an assessment
on its stock notes. The valuation OF
the New Bedford vessels with the out
fits as they sailed is as follows: