The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-02-03
"A1 AT LLOYD'S."
Description of a Great London Mari
time Institution.
from SaId's Journal

time Institution.
FROM SaEd's Journal.
Al at Lloyd's. How few OF the people
who use this expression know really all it
means. that the ships and steamers which
reach the highest class, LOCAL for iron aud
AL for wooden vessels. have to undergo "a
severe examination and careful survey of
ali their principal parts. 1t is a kindred
association called Lloyd's register of British
and foreign shipping which does the sur
veying and chasing. It's office is in White
Lion court, Cornhill, London, and for the
benefit Of the underwriters, at Lloyd's, es-
pecially, and the community at large, pub
fish every year book showing every detail
of each vessel, and 1t is from this book,
called "Lloyd's Register" that the under
writer knows whether the vessel is a good
one or a bad one, and ia some cases knows
more than the captain who commands her.
''What is Lloyd'sF ibis great iustitu-
ton, with $40 members, about $50 sub
scribers, and an equal number OF substi-
tutes, began IN a very small way In the
latter half of the seventeenth century an
Edward Lloyd kept coffee house 10 Tower
street, and later in Pope's Head alley, and
to this coffee house fiocked the merchants
and brokers of London to talk over bust
ness. There they used TO agree to share with
each other their marine risks, and started a
newspaper called LIQUIDS List, giving all
the latest intelligence of their maritime
ventures; and so this small body grew in
its limited surroundings for almost 100
years. till 1774, when, with 70 members, it
migrated. taking with it the old name TO
the first floor OF the royal exchange, where
it has remained ever since, and besides its
members and subscribers has now over
l 500 agents at all the different seaports
who take charge OF the derwriters'
interests.
These agents are chosen from the most
trustworthy Of the merchants atesch place.
and the appointments 10 much coveted for
although there is no fixed fsiaufIeration,
yet there are number of emOluments in
the way of fees, besides the prestige which
helps to bring more business. The Groom y
as hRbitues call ID, is guarded by a barrier
at which stands a relocated jsnitor to see
that no stranger passes through, for no one
but members or subscribers are allowed to
enter. These, however, can introduce
strangers. You ask for the person you
wish TO see. and, after a name quite
unintelligiole 10 you has been called
out your friend appears, aud you
walk in at his invitation and see before you
q long room with three rows of desks at
which the underwriters and their substi.
tutes sit. The gangways are filed with
brokers and their clerks, showing to UNDER
risk is written, and, should he like the risk,
he writes down the amount he wishes to
run the risk Of losing should the vessel be
lost or damaged, and his initials. so from
desk to desk the broker goes, until he has
completed the amount he wishes to insure,
after which policy is made out, to which
tho underwriters affix their names and re-
spective Zines"
At tho end of the large room there Is a
small apartment where some more under
writer's sit. AS you go past the barrier you
Will be struck with the fearful noise going
on, and marvel that the mortals rushing
here ana there should be able to catch their
respective names when called; yet so ac-
customed do they get to the buzz and Sc
clearly and distinctly does Farrant the
Jovial cryer, call them out that they very
seldom have to Ee repeated. On the left as
you enter is the superintendent's room
beside which is the "lOss book" in which is
written all the serious casualties. At this
book all the underwriters and brokers look
first in the morning, and then pass on to
what is called the "chamber of horrors"
This is small room, on the walls OF which
all the casualties, great and small, are
posted, also notices Of the committee aud
all the kilograms announcing the welcome
news Of the safe arrival, the speaking or
the departure Of vessels, or the disastrous
tidings of loss.
Inc arrivals are posted into large books
in the order they are telegraphed, before
being posted into large alphabetical index
books in which the initiated can trace the
movement OF any vessel on any particular
date with ease. These books are on slopipg
desks in the reading room, and are con-
stantly being posted by a staff Of clerks who
are kept busy night and day. In this read
ing room are kept books in which the record
Of every captain from the time he gets his
IL
also all the directories of the principal
towns in the world and all the principal
newspapers Of the world, which are relig-
iously filed and kept for reference, and a
host of other books, etc, necessary for the
information of those doing business there.