The Washington herald., 1908-08-16

I now q factor u polLlCSs only II IS not
wagering. but Just insurance. Instead Of
the person who wishes 20 lay odds as TO
the result OF the election hunting up an
other man who wants 10 bet and shaking
hands and saying. You're on and all
that kind Of thing. or having 70 find a
. stakeholder. he proceeds 81 solemn state
10 an insurance broker and asks for a
P p. l." OF. in other words. a policy
with PROOF OF interest"
The merchant who deals in busts and
Autographs Of William Howard Taft or
/ the publisher who has a consignment OF
state documents by the Republican caudl-
/ date TO unload on the reading public could
well insure himself against financial loss
i by Mr. Bryan's election by taking a few
risks with the Lloyds. who are at the
| other end OF q cable in London and are
always willing TO oblige any inquirer with
] whatsoever long chance he wishes
Z Those who insure against the election OF
/ William Jennings Bryan are not obliged
[ 90 show that he has been damaged The
I possession Of policy is sufficient proof
/ although under the English statutes these
/ picturesque documents do not represent
/ any claim which is legally Couectible
They have precisely the same standing as
Z does betting under the laws OF this state
Z or as an 4. O. u which remains after
I a night session OF poker
/ Nobody doubts thar the LIOyCs VIII pay
but IN the event OF a landslide iu favor Of
I the DeU0crarc candidate and a refusal
I Of the English underwriters 20 take Up
I the p T. Is there is no way 20 com
| pei them 90 make EooE through any t~lb-
InaL
Incidental Branch Of business.
This branch Of taking risks ls only Incl
dental 20 the business OF the LIoyds
/ which is ia reality a Ereat marine insur-
/ ance company. wEich wagers with fate
on any vessel as Ie-g as the craft is sup
. posed rg Boz -1uGt and pays losses with
Z the greatest cEesrfulEess- The LIoyGs
I are an association ot marine uuderwrir-
erS each one ~ whom pays an initiation
lee ot -a..rt The risk on ships is the on
+ j. form OF Insurance which concerns the
/ Lloycs as az organization. but the indi-
Fil-al underwriters viii take chances ON
anything under the s-1
They win sE--e % pay losses Il II rains
I OF lr doesn't rain They VIII insure q
+ thoroughbred against sett--g his leg
F broken on Derby Day. or they VIII guar
a1tee the life OF the King FOR the benefit
{ Of the slCpEespers OF London For q con-
slceratirl they VIII assure a sum % the
{ heirs of any man who fears that he may
[ be blown Up by bomb.
Within the Lloyds are many individuals
T VINO travel -u Sro-ls ard are IN the habit
I OF Undertaking certain hazards IN COM
mon This was the style when the or
Ea---zatio1 was formed. more than two
hundred years ago. and named after the
genial person who kept the CCree house
where The projectors q the enterprise
T were accustomed 20 meet
/ Original Members sedate.
/ Mr. Lloyd Insured nothing but that the
T Java would be good aud that there should
I be an abundance Of church warden pipes
{ and Hollands The original lenbers were
sedare persons who talked Of pIedging
T tHe-r fortunes against the pe-EIs OF the
sea. and they were themselves interested
/ in arEosles OF their own besides those be-
. longing % other persons The modern
I Ll1yds has many bold and adventurous
. spirits who would as soon as not take
. chances or an American election
Americans who have taken policies so
I Tar are mostly those who deal in novel
/ lies or ~ small manufactures. which
/ D-E-t be affected by sudden changes Of
{ tariff u the event OF the election OF Nr.
Z Bryan There are others who insure them
Z selves against calaU.ties. real and mag
I mary. because they Ike the excitement Of
I riskinC their money.
I Policies against the election of NJ. B~y-
/ an cost early last week twelve and one
half guineas a hundred sterling. or about
I l3 per cent. and they have been quoted as
I high as i per cent 10 - Per cent.
/ IN other words i the policyholder IS
/ concerned about the election OF Bryan. he
I may take out a policy for $1,000 on which
/ he viii pay, say, S-9.0 premium II Bry-
t an wins. the LIoyds pay him $4,000 10
D #-s=1= L. - O.
I laulty. II Bryan IS not elected. the
I Lloyds hold fast 70 the premium and he
I gets nothing except the aIiaying OF his
] fears.
Little Bets Tabooed.
/ No small sums are wagered. however.
and it would be impossible for any person
I with q hve-doIIar bill 10 get any cous!d-
! GRAFTON al the hands OF the LIoyds.
1 As all the risks must be accepted or re-
/ 5ected by cable. the process Of .iasur-
/ ance- is a formal and lengthy one. The
I policies are supposed TO run UP into the
/ hundreds Of thousands OF dollars. and
I hedging IS not permitted. II the gentle
I men al Lloyds know Il
/ Il was only The other day that a man
/ went into the Office OF a prominent insur-
{ ance broker and wished to place $4,000
I either way. That IS. he would insure him
. =
/ per cent and against the choice Of Taft at
/ 50 Per cent That was so palpabIy Ike
I race track betting that the broker grew
I indignant and would not have anything
l TO Go with the crafty bettOr.
Brokers to Be Cautious
/ There must always be the statement OF
/ some contingency. some profession that
l the country will so to the bowwows and
] all the insurance Of the bettor with It be-
I fore the Insurance broker will accept the
money for this little game OF destiny.
DO you really think, sir he will in
| qUire. If the steam roller ticket wins
I that you VIII be down and oUt2'' and the
/ prospective customer giving such assur-
/ ances. the policy against Taft may be
I issued
II. on the other hand. a ''standpatter"
| who ray be interested in a tia-plate mill
/ or some other form Of industry applies
l for policy 10 take care Of him in his
/ old age in case the Commoner goes 10
I the White House. he must so through
I the form OF being deeply concerner.
/ One OF the earliest examples OF politf-
/ cal insurance known on this side OF the
water occurred in the last Presidential
! campaign. A man who had wagered 5000
! against Parker said he did not see any
way in which he could lose unless Mr..
/ Roosevelt dropped dead II was at the
| suggestion Of a friend that he insured
| himself with the Lloyds even against
this remote future possible contingen-
! cy." The premium on the 5000 policy
was small and he enjoyed peace OF mind
up to the night OF election day.