The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1876-01-24
/" LLOYDS.U

ORIGIN OF THE NAME-THE PRESENT Asso-
CIATIoNs-LLoYDs IN OTHER COUNTRIES
AND ENGLAND.
The Boston Globe supplies the following
information editorially: When a new ship
is built it is said of her. among other things,
that she is classed in this, that or the other
"LlOyds,n at a certain rate, and thus the
general public has been made familiar with
the term without, perhaps, understanding
its meaning. There are people who still
labor under the hallucination that Mr..
Lloyd is still living and has postoffice ad-
dress somew here, nf course. OF all the queer
ways by which men have immortal
lied their names, there are not many
queerer than that by which a certsin Mr..
Lloyd. who kept coffee house la London
during the last century, made his famous.
He had the good fortune to be largely pat
rOniZed by ship owners and captains, and
"Lloyd's coffee house"-or "Lloyd's," for
| short-became, in course OF time, the recog-
niZsd rendezvous for all who were In any
| way associated with shipping matters. But
after while Mr.. Lloyd died, and his coffee
house has long since disappeared, but his
name shines out in letters of brass at the
eastern end of the Royal Exchange in Lon
don, and is Familiarity known in the utter
most parts of the earth. SO curiously has
the name of the coffee house keeper come to
be so Identified with shipping interests that
it has been adopted by various assocs-
| tions composed of underwriters, who have
agents in all parts of the
world TO insure vessels and cargoee
against loss and report casualties. There
are at the present time in London two dis
tinct associations known as Lloyds. The
one with which the general public Is the
| most familiar Is that to which reference Is
made when a vessel is said to be A l at
Lloyds. This association was founded SIM
ply and solely "for the purpose of obtaining
tai Ff ri mt
mercantile shipping OF the United Kingdom,
and OF 'oreign vessels trading thereto"
| The original constitution has remained
without material alteration till the present
time. A committee manages its affairs.
The details of the work performed by
Lloyds would probably have but little in
terest to the general reader. It is sufficient
| to say that certain letters, etc., which are
| appended to the names of ships indicate
4 the .rii.i ~ =
soUNDNEss AND sEAwoRTHINEss
of the ships themselves, while the figures
which follow the letters indicate the COM
pleteness and sufficiency of their equipment
Thus, an "a 1" ship is not only a good,
sound craft, but Is thoroughly well equipped.
From this position, In the course of time,
she falls into another class, and so on. until
finally, when she is too old and cranky to be
retained In this grade, "Lloyds" will have
nothing further to do with her. In 1875 this
association had on its books the names of
over ten Thousand vessels. Taking
the two British societies, "Lloyds" and
Lloyds's Register"-as they are popu-
larly supposed to be = as one
great concern interested In all that pertains
to maritime affairs, they constitute an agency
such as the world has never before seen,
and without which British commerce never
could have attained its present proportions.
At home there Is no vessel of Importance
that escapes their vigilance, and abroad there
with which they are not in frequent COM
municat;cn. There is no place which ships
are accustomed to visit where they have not
| pair OF eyes on the watch, and repre-
sentative ready to transmit intelligence and
| to act on their instructions. The Austrian
Lloyds was established in 1923, and
next in Importance to this is the
North German Lloyds at Bremen. Then
there Is the Bureau Yeritas, :" international
la its scope, established In 1928; and the
French Lloydsv and the "Americap
Lloyds" of a more recent date, but equally
as comprehensive and Trustworthy az those
we have mentioned. The "American
Lloyds," universal in its character, has
some 10000 vessels of various classes, Is
managed by the enterprise OF It's surveyors
at home and abroad, and was established in
1857, under the approval of the New York
board OF underwriters, ship owners and ship
builders. Marine Insurance has become a
much larger business than the imposing
looking individual In a scarlet robe, who
used to guard the entrance to the handsome
rooms of the original "Lloyds," ever
dreamed of, and the system adopted for its
regulation is wonderful, to say the least.