The Times History of the War; The Battlefield of Europe Volume 1

The Times History of the War; The Battlefield of Europe Volume 1

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1914 edition. Excerpt: ...desired to cover cargo from such points it was necessary to apply to underwriters and pay market rates. On Saturday, August 8, the Government rate was reduced to four guineas per cent., on Tuesday, August 18, to three guineas per cent., and on Tuesday, September 1, to two guineas per cent. Throughout August an immense amount of business was placed, and the influence of the scheme in maintaining commerce was incalculable. Merchants throughout the world knew that the highest rate they would be called upon to pay would be limited to five guineas per cent, as a maximum and they could conduct their business accordingly. Private underwriters felt that in order to attract business they must offer even lower terms than those of the Government, and trade benefited thereby. At various times there were certain areas deemed by the Government inadvisable for shipping, and such risks had of necessity to be offered in the market. At a certain period of the hostilities cargo in a number of vessels from the Baltic was thus covered at a rate of 10 guineas per cent. Such losses as there were at first appeared to fall on the open market. There was the seizing of the British steamer City of Winchester off the East African Coast, while homeward bound from Calcutta with a valuable cargo of tea and other Indian produce, which was at sea when war broke out; the sinking of the British steamer Hyades off the South American coast while homeward bound to Rotterdam from the Plate with grain, with a cargo believed to be insured in Germany; the sinking of the Kaipara off the Canaries while heavily laden with New Zealand produce; and the sinking of the Nyanga in the same locality on a voyage from West Africa. These two latter vessels fell a prey to the Kaiser Wilhelm der Grosse, more

Product details

  • Paperback | 150 pages
  • 189 x 246 x 8mm | 281g
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236539389
  • 9781236539380