The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-10-11

immortalized their names, that are not man
queerer than that by which a certain MI
Lloyd appears to have done it.
Little or nothing is known of this worthy
except that some time during the last centur
he kept coffee house in or near Abchurcl
lane, London; and as he had the good for
tune to be largely patronized by ship-owner
AMI captsils, "L!oyTs Coffee house. or ths
abbrevi4'ed "Lloyds," came in course o
time to be the recognized rendezvous for al
who were IN any way Interested in shipping
matters. Mr. Lloyd died, nobody knows
when, and his cotfoe-house has long since dis
appear d nut his name shines out in letter
of brass al the eastern end Of tn. Royal Elk
change, and is Familiarity known in tho utter
most ends Of the earth The association
which originated beneath his roof has devel-
oDed into an organization having its agents and
representatives IN every seaport of any pre-
tensions throughout the world, and has &C
qnired sach importance that the advantages to
be derived from an Official connection with it
are found to be a sufficient inducement to un-
dertAke It's az nry, without any other remu-
nera,ion whate or. So curiously has the name
of the lucky co1ee-honse keeper cone to be
identified with shipping interests, that it has
In many instances been adopted by various
continental associations while it is said that
there are still psopls who believe that he
IS the great potentate IN shipping matters and
who OCCASIONALLY write to NJ. Lloyd, Londress
There are at the present time two distinct
associations known as Lloyd's, both of them
having their headquarters in London, and
within few yards OF each other. The one
with which the general public are, perhaps,
most familiar, is that to which reference is
made when vessel is said to be AL at Lloyd's.
This association, named Lloyd's Register and
Shipping, and the offices OF which are in
White Lion Court. Cornhill, was founded in
1884. simply and solely 'for the ourpose Of
obtaining faithful and accurate classification
OF the mercantile shipping OF the United
Kingdom, and of the foreign vessels trading
thereto. The original constitution Of it has
remained without material alteration till the
present time. There is a committee for the
general management Of affairs; there il a sub
committee, appointed by them, for the actual
work OF classifying ships, and there is large
staff OF surveyors. who-e duty it is to inspect
vessels, to furnish the committee with
such reports rs enable them to assign
each character. The details of this
classification would probably have
but little interest to the general reader. it
Will Ne sufficient TO state that the letters A, H,
etc, which are appended to tho names of
ships, indicate the soundnesy, and seayorthy |
ness Of the ships themselves, while the figures
which follow the letters indicate the complete I
and Su hclency Of their equipment-their rig |
glng, Doats anchors, ETC. Thus, q vessel |
which IL ciassed AL on Lloyds register is not |
only a good, so md craft, but is thoroughly |
well equipped. She stands in thi, class for a |
term OF years depending on the materials of |
which she is built and the quality of workman
ship bestowed on her; and from it she falls, in
the usual course of things, into class "a red. "
for o period of half or two-thirds of the time
she stood in the highest rank From this she
goes into AZ, then into +, and finally into class
l. Whec she is too old and cranky to be re-
tanned in this grade Lloyds will have nothing
further to do with her
Some idea of the magnitude of the business
accomplished by the association may be gained
from the fact that i'll 1872 they had upon the
books upwards Of ten thousand vessels The
ice Tor survey originally was ten guineas
subsequently, rates were further modified
The other ''LlOyds" may be found on the first
door of the Royal Exchange. Going in by
che eastern entrance OF this building the visi-
tor Will at once the illustrious name
SHINING down upon him over n doorway on I
the right The most conspicuous object, how {
ever is very imposing looking individual in
. gorgeous scarlet r., sc, who guards the en-
trance, ard With the lungs OF Stentor, c
shouts out, above the din and confusion with /
IN, the name OF any one of the throng who ,
may happen to be wanted. Only the initiated Is
may pass this barrier but one may stand t
without and see pretty nearly all that is to be a
'een OF THIS the oldest OF the two institutions l.
known the wide world over as 'Iloyd's." y
Standing without the barrier one may see o
INTO handsome saloon, with richly deco +,
ated ceiling, supported by double row of ii
,iIlars. snd with wallis adorned by the arms Of
ne association anchor on q blue q,
round. The room contains two enormous IL
edgers, selfregistering barometer, and An 81
rlo | n
beet OF paper the force and direction of the k
Vind at all hours of the day aud night. There W
re still unmisakable traces of the Coffee CO
ouse period in the history OF this institution OF
he hoor. for instance. Is occupied by four II
ows of tables, shut in from each other by I'll
title mahogany partitions, in the Usual coffee sc
ouse fashion, While, until a few years ago, l.
he attendants still answered to the name Of at
'alter 1t IS u scene Of great hustle and CO n Sc
asloIi, the room being usually filled with di
hrong OF people who buzz about apparently S,
nth the slightest possible reference to any
hing like business.
The insurance of ship. unlike that of 4 70
ouse or lie, is usually Undertaken by con- e6
derable number OF men or firms individuality iu
hero are companies engaged in this line Of dr
usiness, but by far the greater part of it is
fected with ind, vidual assurers or "under
ritcrs," H. they are termed. There appears
be no reason for this beyond the force of
lstom, WI ich originated at time when COM
'nies for this purpose were by law limited to
70, the Royal Assurance and London Assn.
nee. The monopoly was abolished in 1924,
ut the practice which had sprung up in CON
quence of it survived; and ut the present
me, the greater part of marine assurances in
ondon are elected with the men who are to
9 found seated "a. the tables in this large
'om at Lloyds. re'
transaction in shipping assurance is DIR
ully carried on through n broker by whom SCI
'e premium to be offered is arranged with the lal
Tner or treightor OF the vessel This being 10
stermined on, he sets forth on slip of paper fic
le pa culars OF the risk the name, class ST
I'd tonnage OF the ship. the port she sails me
ON. and that to viii h size is going; the of
'obabe length of the voyage, the sum to be CHI
snred, the premium offered, etc The slip kir
then sent into this large room at Lloyd's Mi
Id submitted to various underwriters rel