The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1914-12-10


which the insurer the United
States is contented to bear. and
does take upon itself, they are OF
men-of-war. letters of marque and
conference.-the, surprisals. TAX
ings at sea. arrests, restraints,
and detainments or all kings,
princes. and peoples Of what nations
and qualities soever, and all conse-
quences of hostilities or warlike
preparations. whether before or aft
er declarations of war.
Such is the official creed of the mari
time insurance business Uncle Sam has
recently established. And in placing
his War Risk Insurance Bureau on an
operative footing, he has in q few
months acquired a business Of which
any private corporation might be proud.
Since Lloyd's, OF London, first gam
bled on the chances Of ships weathering
the dangers OF the ocean and bringing
back their cargoes to the enrichment
OF their handwriting owners, private
corporations have always stood willing
to write maritime insurance. But their
policies took heed only OF damage by
storm or hurricanes bottom smashed
when driven aground on hidden reef or
when the proud ship was reduced to a.
smoldering hulk by that bette noir OF the
sailorman-a fire at sea
Added Many Perils.
When the war cloud broke over En-
rope last august to these natural
more perils. direct results of the great
conflict. Whole leagues of the high seas
were down with death-deaiing mines.
Ports were blockaded to commerce. and
with the interruption of traffic there
came the danger of ships being bottled
mp for months in harbor by the great
gray watchdog warships of a hostile
force. Vessels belonging to neutral ma
tons. too, were in danger of seizure on
detention. Indemnity against loss
through such causes as these was an
opportunity few ship owners were will
ing to let pass.
So. realizing the Importance Of such
an irducement, the United States Gov
ernm"nt prepared to take advantage of
il They left the Naturalization of
ships ag%I1sT the ''naturai7 dangers Of
the sea TO the private corporations. but
they offered insurance against these
war risks to all vessels bearing the
American flag.
on September last the Bureau of
War Risk Insurance opened for bust
ness in the Treasury Department. on
the day following the President issued
" proclamation throwing open American
registry to foreign ships.
Tho Bureau of War Risk Insurance,
Of the Treasury Department. and the
Bureau Of Navigation. of the Depart
-n"nt Of Commerce, by virtue OF the
proclamation, working together, pro
duced wonderful results within a single
week.
The efforts of the Bureau Of Navi-
cation toward the rehabilitation Of the
merchant marine may be measured by
the fact that since September 4 last
ninety-nine vessels have come under
American registry. adding ISL sos tons
, 10 the merchant marine.
But the work of the War Risk In
surance Bureau may be designated in
cold dollars.
Cash Premiums Vast.
One month after its establishment this
bureau had surrendered to the Treas
Urp $4,000 in cash premiums on more
/ than 10000 worth Of policies. Today
that $4,000 has grown to $4,000. and
| the amount OF policies increased to more
than $1,000 0oo-and all Of that has
been accomplished without the loss OF
/ q single cent. so far, to the Govern
/ Tnent, although several American ships
! have been detained as result Of var
conditions, although none OF them have
| been damaged thereby.
! The Bureau Of War Risk Insurance
! IS under the general supervision Of An
drew J. Peters, Assistant Secretary OF
the TreaSury. The real work of run
ming the business, however, rests upon
| tho shoulders Of William c. DELANEY
and his assistant. J. Brooks p. Parker
Nr. Delaney Is the senior member OF
| a long established and well-known in
| surance firm in New York. He has had
I thirty-twO years experience in the in
| surance field, and in accepting the posi-.
| ton Of director of the Government in.
| surance work made considerable sac
rifice.
Mr.. Parker. a graduate of the Uni.
versity Of Pennsylvania. is also wei
! known in the insurance field. the pos
/ SCISSOR Of a varied experience in tn,
| work both at home and abroad.
! There is also a board which acts ir
an advisory capacity TO Mr.. Delaney
! and Mr.. Parker. On this board arc
| William y. Davey, Of New York. an ex
! pert adjuster. HendOn Chubb, Of New