The Portland daily press., 1880-01-15
The Ocean Traffic.
A POSSIBLE REVOLUTION IN THE
CARRYING TRADE.
Boston Insurance Companies Refuse to
Insure Vessels Loaded in Bulk.

Some time ago the PRESS published series
of letters in regard to loading ships with grain
in bulk, and yesterdays Boston journal pub
fishes the following important article. AS the
grain shipped from this port is mostly in bulk
the article will be read by shippers with in
terest.
1t will be remembered that the points made
in the article published in the Press were to
the effect that cargoes of grain laden in bulk
cannot be so packed as to prevent possible
shifting of cargoes and consequent laundering
of the vessel
The Journal says: So great has the danger
been considered of vessels laundering carrying
such cargoes that our Boston marine insurance
companies will not accept a risk of the kind,
and the insuring of such cargoes has been left
entirely to New York and Philadelphia com
panies The losses on such risks have been
such that, as we have before stated in this col
unu, two of the companies have lost 100000
in excess of the receipts in premiums, and that
they are growing more conservative is eVlnced
in their recent refusal to insure some vessels IN
this port to carry grain in bulk. Ii such dIfh-
cultios continue to arise in obtaining insur-
ance the custom OF sending grain to Europe i'll
bulk will surely cease There is considerable
agitation on this subject in England, and petl-
tons are being circulated, addressed TO Inc
government. TO pfOnlDll DIleinH StSttihoio 'eiiN
sailing vessels from carrying grain IN bulk be-
tween the United States and Canada and Great
Britain, and to insist upon the grain being IN
bags and not in bulk. Experts here, however,
do not think there is any risk with steamers as
with sailing vessels, as q miscellaneous general
cargo would be takenl by the former, which
would suffice to neutralize it. There are some
objections which are brought against bagglng
grain, and these are: The extra time required
to load a vessel, the increased expense ana the
l.,l.l. rOf4 1,nh nfrr 70 SNll
wer to the time objection, it must be re-
membered that when the vessel now
reaches the other side the grain that IS IN
bulk has to be bagged, there being no eleVa-
tors there. SO that the delay Wouia De Den, Inc
same whether on this side or on the other.
The work is done in Liverpool in the
hold of. the vessels, and the worlSmen are such
great experts at the business that very little
time is consumed. To illustrate how quickly
this is DONE we hear that the steamer MasSa-
cbusetts Of the Warren Line has been known
to arrive in Liverpool on Sunday night
with cargo and to have left Liverpool on the
Tuesday forenoon with another full cargo In
that time the grain of the cargo had all been
bagged and its place taken by other 1reight.
With practice it is thought, workmen on this
side would equal the nimbleness OF those OF
Liverpool aud no loss OF time made. In re-
gard to the decreased cost, that is matter
that is differently estimated, of course, the OPP
ponents of the practice OF carrying gram III
bulk believing that il would but triite, II any
more. than the cost of loading and trimming
the grain in bulk and extra insurance The
maia difficulty would be that grain shippers or
vessel owners would either have to own GER
tain number of bags, which would take more
or less capital which would have to earn inter-
est to be profitable, or to hire the bags, which
would be costly, being for ton of grain about
90 cents, while the cost OF the bags would DE
$3.50 large percentage to pay for short
time. This is explained by the bags being Of
ten worn out in about three trips: The pres
ent practice is to hire bags, and hand them
over in Liverpool to the agents OF the owners
there An estimate Of the expenses OF load
ing ton of grain in bulk and in bags might
be as follows, but the figures must not be con-
sidered exact, but they are the best we can OBJ
tain, thus: