New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
o..h;b;ts Teuton Owned
Companies from Doing
War Risk Business
r.;bune Had Shown
Menace to Shipping
exclamation Suspends the
p.vments on Contracts
Until After War
ryrm ms Tribune Bursiul

v..h;ncton. July l4.-Presldent
r,.., cut off German controlled In
,,,,es companies to-day from access
!. chipping information which, The
r.hune has been pointing out for
.,b Is Of vital importance to Ger
-.,v The President, by proclamation,
.,t;h;ts the German companies from
,,,,sacting either marine or war RISK
..,r-.nes. They can do no more orig
al underwriting, nor may American
..-,snies reinsure risks with them.
The two classes of insurance forbid
Il, German companies have to do ex-
,lu.ivsly with shipping, the term ma
-, Insurance covering the ordinary
ak, Of the sea, such as loss in colii-
,or storm or fire at sea, while war
5,t covers the additional risk Of loss
q, damage through acts Of war.
Il will thus be seen that German
,onpsnies writing fire or casualty in
Sranee. either for their own account
4, 4. reinsurers Of risks written by
,,b.rs. can continue to do business as
,u,l This leaves them free TO write
;,,pr.pcs on munitions and shipbuild-
n, plants, a privilege, insurance men
point ont. almost as dangerous as
marine Insurance.
Under the peace time system, which
continued despite The Tribune's ex-
uosure Of the risk involved, the Ger
man companies were, as a matter OF
eorre. informed of sailings, destina-
ac.s, manifests and other maritime
~, vhich American newspapers re-
tn-.. from publishing at the request
da. Navy Department.
Ilry Of the concerns TO which these
rsars we're confded were branches
q German companies, incorporated in
i.B country simply TO conform with
4. laws of the state in which they
tpp.ned TO be. Scarcely a ship sailed
fruz an American port without insur-
Ir.s or reinsurance on ship or cargo
bgng placed with one or another OF
nsss companies.
Us. Transport Insured by Germans
h was pointed out in The Tribune
hat one Of the transports, news OF
s,ose arrival in France was held up
u Warrington lest Germany learn what
vas going on, was insured with Ger
nan company. Moreover, this trans
rri, the Msnchuria, ran aground be-
tc:e leaving American waters. Repre-
se,istives Of the insurance company
Esrs among the frst to board her, and,
Z pursuance Of their still legitimate
s1siness, were permitted to browse
tso1t getting information.
Under the terms Of the Presidents
PROCLAMATION this source of informa-
Nsa will be blocked at once. Except
Il the case Of vessels now at sea, pay
rent on existing contracts is suspended
'uring the war. If the insurance is
i'r tae duration Of the voyage, 1t con-
Times in force until the vessel reaches
'a Destination; IL il is for period OF
ans, Il expires within thirty days after
Q. issuance Of the proclamation.
FUNDS OF the alien companies are 70
= subject 10 such rules as the lnsur-
nee authorities Of the various states
Shieh the main Offices Of the con-
ans are located may make.
i IS the first effective step taken TO
rs'ent information Of military value
nom reaching the enemy, and is in
tt1.d not only 70 destroy what might
s'A haze been a ready made spy sys-
Hr, but will tend 20 check the ship
sent Of gold 10 South American and
yer neutral countries for German ac-
,'ss,