The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-11-19

Iishopkeepcr expects to do unusually large busl-
b. on a certain date if the weather is fair,
II will insure him against rain. II a farmer. fears
-hs crops will be ruined by hail he has only TO
VT policy with Lloyd 5 and set his mind at
4 If man owes YOU thousand dollars and you
und that he will not pay tho money when 1t is
nu may take out policy for that amount with
tt against his payment. The premium would
4 |itr small, and you of your money; if the
acesnt pay, Lloyd's will. Suppose You dread the
PGTense that you would bc forced to incur if your
VIE presented with twins; Lloyd 5 will insure you
ls INC calamity, and if ii happens that bloyd's is
topay, the money You receive will be sufficient
|Epct the extra member of the family. Lloyd's
sonderful institution for relieving ones peace of
E 1t always pays when II loses, In the two hun
stars it has been in operation it has never laid
= on a contract
|-ga Is not company and never was, IL can
= called more than association. IL was way
ID The years that followed the great London fire
'No mat the institution was started. Edward Lloyd
nc proprietor of a coffee house in Tower street
'| pank Of the Thames. Here all the ancient SEA
sathered before and after their perilous adven-
~ sea In this dngy tavern they discussed their
- and the general happenings of the shipping
4oSi cup of stcaming coffee. One of the com
:, topics for these old salts was the hazards of
'tanc, and it was from this that Lloyd's grew.
aston then was for each one present to take his
70 The risk OF certain vessel according 10 the
1-s ne wished TO put up and the profit Of the pre-.
Was divided accordingly
sa'e thai day Lloyd $ has moved from the old cof-
Ie and now occupies handsome offices in the
exchange. But the method of procedure is
"e same Lloyd is association of under
= Who individually take all of the risk, for which
"e personally liable. LLOYD S merely furnishes a
x place for the underwriters and the ship brokers
."ncs the rules and regulations under which
;Nm conduct their business. Its legal status is
A.''Y the same that of the New York Stock
III certain cases where the risk is too great
VV"Pahy TO assume, several members OF Lloyd s
'''ner aud share both the liabilities aud the pre-
"'S. Loyd's confined itself TO marine insurance
'sh' of the sea, but gradually and naturally
!, INTO the insurance of sailors lives and then
a. su'ahcc OF any one S life, One thing led to
49,, NV u now there Is almost nothing which Lloyd s
~. i"snre So the association dabbles in
Liza. i'on the prospects of crops TO the outcome
elections There is romance and tragedy
' connected with LLOYD s policies, All the
eu'0tons arc manifested in The course OF Que
Si"css at the Royal exchange
/ sDr,. Nhtpcst transactlons WAS the IN
Xsus,,I o' the good ship La Lutne and her cargo
E"E over S5000000 The vessel had formerly =
Xbp.,o iriShte but the English had captured il
b. into service for themselves On the night
IN, . l'99 La Lutne set out from Yarmouth
h. L,, U, gathering gale with her precious cargo
h,ne w. including 100000 which the British gov
vi sending to the continent to pay her sol
h,s 'Fe engaged against. the French. LLOYD i
pra ;n "er safe arrival in port and the weather
H. :" Tor tho association,
tM headed up the channel and into til,
dr., DnrIne the night heavy northwestern,
hw,. ner and drove her helplessly before it
cp So sFong lee tide, which caught her in it's in
'p at the same time. The crew was power