Evening star., 1942-09-03
War Damage Policies
Nav Reach Total
OF Hundred Billion
A. T. & T. and u. S. Steel
Each Take $780, 900
Coveroee, Jones Reports
Py the Associated Press.


Secretary of Commerce Jones re-
vealed today that the War Damage
Corp. has insured property in the
United States against enemy attack
for between $50 900, 600, 900 and $780,
10000, 900.
Secretary Jones, who is chairman
of the company, made this report to
the first directors meeting of the
agency today.
The corporation, Government
owned but cooperating with the
private fire insurance companies, al
ready has banked with the Treas
ury approximately $100000,o00 in
premiums, and issued about $500 900
individual policies. 1t is easily the
largest insurance company in the
world, and still growing rapidly.
While most details are confden-
tial, it was learned that the policies
range from few hundred dollars
apiece on household furnishings to
more than $3.50, ,000, 900 each for the
American Telephone g. Telegraph
Corp. and the Unitedf States Steel,
Corp.
Ma jOr Industries Covered,
A number of major industries
have purchased policies in the $780,
DOC, 600 to $500, ,O0o,000 range,ts The
big railroads, utilities, privately
owned war plants, apartment houses,
hotels, as we'll as thousands of
residences and farms are also Gus
toners.
Uncle Sam, himself, didn't buy
any on either Government buildings
or Government war plants.
If he did, officials said, it would be
taking money out of one pocket to
put it in another Likewise, most
of the States and municipalities
carry their own insurance.
However many self -liquidating
public projects bought insurance.
The port OF New York Authority in
sured all Of its giant bridges and
tunnels, and the famous San Fran
cisco Oakland Bridge also is on the
books.
Most of the insurance is on the
East and West Coasts, where the
theoretical possibility of enemy
damage is greatest. The vital De-
troit industrial area also is thor
oughly covered. In these sections,
home owners and industrial execu-
tives alike have flocked to buy poll
cies. but in the Middle West there is
much less interest. particularly for
private homes and farms
Some OF the insurance also has
been placed in Alaska, Hawaii,
Puerto Rico and the Virgin Islands.
In Hawaii, for instance, the large
japanese population has sought
| protection from their Nipponese
cousins, but generally have been re-
fused, on grounds of public policy
Full Details Lacking.
The insurance program began on
July /, but full details will not be
available for some time, because
| thousands of private fire insurance
agents are handling the business for
! the Government on q commission
basis and it takes time to get in
and compile their reports.
Except for a SO minimum per
| policy, the insurance rates include
| 10 cents per 1000 on homes, 10 to
IS cents on churches and other edu-
catlonal or religious institutions, Is
to 20 cents on apartments, hotels,
office buildings and warehouses, l8
to n cents on factories. piers
Wharves and bridges; 10 to 80 cents
on streetcar and railroad properties,
80 cents on utilities, 25 cents on
pleasure boats, 25 to IS cents on
commercial boats. rs cents on furs
! jewelry and art objects.