Frostburg mining journal. [volume] (Frostburg, Md.) 1871-1913, 1871-12-09
LOSS OF THE ARCTIC WHALING
FLEET.


A Terrible Blow TO New Bedford-Exteu
of the Losses to Owners and Insurers
Fl. the New Bedford Standard.
New Bedford is suddenly called on t.
take her part in the general disasters o
this Unprecedented season of calamit,
by the loss or abanonment of thirty
two (thirty-thre.', indcluding the bari
Oriole, before reported LOST, out of tn,
fleet OF forty-one whalers in the Arcti
Ocean, our owr' port losing twenty-on,
vessels, comp sing one-eighth, anC
among them the best portion of our en-
tire whaling fleet, the news of which
tell like thunder-stroke upon oul
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
llous occupation, vet never vet 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 wi venture on the seas are eX-
posed to reater 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
| more or less vessels ,and only last year the
ships which remained late came near
being entirely lost. This year the ice
came down from the North so early and
in such masses that the whole fleet was
enveloped 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 ii will not be a crushing one
One compensating effect will be 10 in
crease considerably the value of the
stock Of oil and bone and the vessels in
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 ut 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
sperm OIL The stock in first hands in
the country on the first instant was only
$4,000 barrels, held by comparatively
few houses, and although the price will
60 up it will not help out the large body
of owners in the ships. The stock of
whalebone is 1926, ZOO pounds, in but few
hands. The Commercial Marine Insur-
ance Company, Of this city, states its
losses to be in gross Il. C., the face of the
policies) $73,225, as follows: On the
Awashonl<s, $500; Emily Morgan,
$1,000; Eugenia, $1,000; Fanny, So, 800;
Gay Head, $1,000; George, $500;
Massachusetts,, $4,000; Minerva, So, l25
Navy, Sc 900; Reindeer, 50, ,000 Roman,
Seneca, $4,000; 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 $685. 200, and
of the Ocean Mutual Insurance Com
pany about $4,000. The Union will
ba ~ bla to nav all ~. loccoc and bava