The evening world., 1902-06-24
Coronation Postpone
ment Means Damage
Amounting to Mil
lions of Pounds.
THE INSURANCE cos HIT.
Official Ceremonies Alone
Were to Cost $1,000, 900
Private individuals Out OF
Pocket, Too, of Course.

Millions of pounds sterling will
he lost as n result of the post
ponement OF the coronation.
Just what these losses will be it Is
literally impossible to estimate.
Should the King die their amount
will be staggering.
The official coronation ceremonies
alone were to cost the British Gov
eminent $1,000, 900. What the extra
expenses proposed by private parties
would have amounted to no nan can
closely estimate. That it runs into
the millions of pounds sterling is
widely known.
English insurance companies, En-
glish noblemen, English families OF
wealth, London tradesmen. hotel
keepers and clearinghouse keepers
and visitors from all over the world
will feel the blow most keenly.
Some slight idea of what the death
of the King would mean financially to
England may be gathered from the
statistics of the insurance against the
Kings life that nearly all business
men in London and many of the
trademen of the provinces are carry
ing. 1t aggregates, perhaps, $780,
600, 900.
In one month, that of October last,
insurance on tho Kings life was
placed to the amount OF G2.5a.n OD. or
So, 800 400 So h"av' were the risks taken
by those whose very business life hung
on the success of the coronation that
most of the small insurance companies
closed their lines. They could not afford
to risk any more on a life that hung nv
80 slender A thread as did that of King
Ed ward
Lloyds. where the premiums on the
Kings life were posted. recorded in DC
tnner that the premiums. which at fnst
had been as low as 3 per cent, had risen
to y per cent, and then to II per cent.
That is, to effeft $i0O of insurance one
had to nay slb. That is lust about three
times what an American of the same
age as Edward would have to nav as
IRE MUM on his insurance.
The heaviest Losses should the King
not be crowned at all will fall upon the
insurance companies. Some of the
smaller ones may he by the
claims. Postponement of the corona
ton, unless for a great length Of time,
VIII not affect the insurance companies.
hut will put the loss directly on the bust
ness men. nobility and visitors. The
preparations of many of these Will have
10 be paid for all over again. Intending
law suits are sure to result.
Paid on Queen.
1t will be remembered that British un-
derwrlters. both the independents trad.
ing at Lloyds and the companies, paid
cut about t1o.OO0,O0O on the death of
Queen Victoria. Theatres. business
houses of all kinds whose business was
adversely affected by her Death and
those numerous lessees In England who
hold during the rulers life only, were
the benefciaries.
The amount of insurance on King Ed
wards life. or more properly on his be-
ing rowne this summer, is supposed
to be at least twice that that was placed
on Queen Victoria, The immense in
vestments in stocks and decorations for
the coronation necessitated It. TIL rate
was increased rapidly because OF the
number OF applicants and because of ru-
mors about the Kings health, particu-
larly that he had cancer.
An underwater who talked TO The
World representative in London a few
days ago said that the rate had gone
as high as % per cent. in a few in
stances. The risks were taken. he ex-
planned. for two or three months. as a
rule, so that should the coronation oc-
cur within a reasonable time. or this
summer, the insurers would meet with
little loss.
Nearly all those carrying insurance
on the King" he said, ''haYe something
at stake. They are not gambling"