Evening star., 1914-07-22
LLOYD'S.
By Frederic ]. Haskin.

"IIoyd's'' has always stood for marine
insurance. All nations of the world have
traded at Lloyd's for generations for in
surance uron their ships and cargoes
II has grown through several centuries
until today IT has its agents in every
port and one of the most marvellous news
gathering systems ever devised. Lloyd S
is an intensely Interesting world busi-
ness.
There have been many changes at
Lloyd's during recent years. The organ
i3ation which has made London the CEN
ter Of world marine insurance lately has
been extending its business on every
hand. With the few years OF this century
Lioyd's has broadened its range and TAX
en- all insurance for It's province. There
is today probably no form of risk which
the underwriters at Lluyd's are not pre-
pared to guarantee
One man brought a request before the
underwriters at Lioyd's for insurance
against the risk of shock caused to per-
sons by his collins being delivered at
wrong houses at night The underwriters
expressed a readiness to quote rate
upon this risk. provided the manufacturer
furnished them with particulars of his
turnover in collins. the number of shocks
caused and their effect.
Lloyd's is an association of underwrit-
ers, merchants. ship owners and insur-
ance brokers. 1t is Incorporated under an
act OF parliament. 1t is not the corpora
ton. however. which transacts Lloyd's
vast insurance business. but the individ-
ual members. The organization has as its
headquarters the second floor Of the Roy
al Exchange. in London.
This stupendous modern business had
its beginnings in an informal gathering
of merchants
Business Outgrowth at coffee
Of Dealers Meetings. hr rdHsp', nspl
Lloyd in Tower street, London Of which
the earliest notice was made i'll the Lon
don Gazette in 1855 Here the merchants
met one another, gossiped and arranged
future business. while testing the restful
qualities of the then new fad. coffee
Realizing that his destiny had happily
become entangled with the plutocrats of
his time. Lloyd moved his coffee house in
1922 into that part of London most fire.
Quented by the merchants of the highest
class. Shortly after his removal he un-
dertook the publication of a weekly pa
per. giving all commercial and shipping
news. If1s was called LlOyd'S News.
It's life, however. was short. for it ven-
tured some sharp criticisms upon the
house OF lords. Lloyd's News was fol-
lowed by Lloyd's List. paper which to-
day Is known throughout the world.
Laoyd's List. begun in 1926 claims to be
the Oldest newspaper in England with
the exception of the London Gazette
With the spreading of its fame, the
amount of business transacted at Lloyd's
conee house steadily grew. It's rooms be-
came the regular gathering point for the
teading merchants and underwriters,
though the daily meetings probably re-
manned informal. as there is no evidence
OF any attempt at organization at this
early date.
During these years. England was lay
ing the foundations OF her ai.-inclus;ye
carrying trade. As this trade expanded
the growth OF the marine Insurance busi-
ness reached such proportions as to make
ciiange to some sort OF orga MIA ton
necessary So. in 1174 Lloyd's eossips
moved into the Royal Exchange Here
they have been pyramidng the power of
,neir association ever since Tie asso-
cation was -eorganized in 1911 and was
incorporated in 1871
The management of Lloyds rests with
committee of twelve. elected bv the
Orz,t.a