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138 posed of three underwriters and three shipping men has prepared. a set of recommendations which they will sub- mit. to the superintendent of public works. The insurance men on _ the committee are H. W. Beebe, chair- man,.&. &. Lethbridge ‘ahd G. C. Owens. G. R. Hall, S. MacClinkan and. S. W.. Bullock represent the ship- ping interests. The recommendations provide for a new breakwater at the entrance of Oneida lake, the buoying of the north and middle channels of the lake and the installation of a sys- tem of storm signals at each end of the lake. * ee De des When Can Recover Premiums N insured is entitled to a return of the premium paid, there being no fraud on his part where the policy was not delivered, or if it was made to cover a future contingency which never did occur or where the policy is void for illegality or where the in- sured, induced to take out his policy under false representations on the insurer’s part, has rescinded, accord- ing to a decision anent the recovery of premiums made by the New York supreme court, appellate division, fourth department, in an action brought by the O’Conner Transportation Co. against the Glens Falls Insurance Co. The insured can not recover prem- iums, it was further decided, paid for insurance policies that expired prior to any loss occurring, though a loss occurred while a subsequent similar policy was in force and the company successfully resisted liability because it can not be said that the prior poli- cies were absolutely void and created no liability, in view of the insurer waiving the defense of breach of war- ranty or preferring to compromise, * * * In sured Germans. Extend Cover Period at River Plate NDER pressure exerted by Argen- tine: bankers and brokers for an extension of the cover period on River Plate shipments. in customs houses; and warehouses, Hamburg marine ‘underwriters. have acquiesced to their wishes and have adopted the following clause: “For goods destined to Buenos Aires or Montevideo, the risks under this policy shall cease upon arrival at the customs house and warehouse shed or store.. If goods are not . directly brought to the customs house, the risk shall cease upon the expiration of 10 days subsequent to landing. -“Tf. the risks: after the expiration of MARINE REVIEW such period are to be covered, a prem- ium of ™% per cent for each com- menced 15 days is payable.” Ameri- can underwriters have been firm in refusing to extend the cover period on River Plate shipments beyond the 10 days. ee Ruhr Occupation Revives War Risk Clauses LARM lest the French authori- ties seize shipments moving in and out of German ports as repara- tion has diminished and underwriters have been advised that the war rate on shipments to and from Germany has been sliced in half. The situation both in Europe and the Near East has been watched closely by under- writers and with the seizure of the Ruhr by the French authorities it was feared that shipping might be in- terrupted. Much of the danger is thought to have passed and instead of ranging from 4% to % per cent on cargo shipments, the war rate is now as low as % per cent. The peril anticipated has been. a somewhat complicated one as ordinary war clauses are not applicable to the present situation, no war actually ex- isting between France and Germany. There are no precedents ‘to guide the underwriters and they are consequently obliged to rewrite their clauses so that they will apply to cover warlike haz- ards which technically are not war hazards. So. far no..foss has: been occasioned through the action of the French authorities. If, however, there should be a single loss, it is predicted in underwriting circles that the rate would be jumped at least 100 per cent. Comparatively little war risk insurance is being asked or written. ee, Big Pacific Gale Piles Up Heavy Losses SEVERE gale in the northwest Pacific recently caused insurance companies an underwriting loss said to be in the neighborhod of $3,000,000, the loss falling for the most part on Pacific coast underwriters. Advices from San Francisco received by marine underwriters in New York _ indicate that at least five vessels became a total loss in one of the most disastrous storms in the annals of marine under- writing in the United States. The ships lost include the Nixa, valued at $150,000, cargo $60,000; the Tuscan Prince, $1,500,000, cargo $750,000; the Santa Rira, value $250,000; the CootcHa, value $150,000 and an _ unidentified 3-mast schooner. The estimate of $3,000,000 loss is conservative. April, 1923 Rules on Liability for Loss from Sea Water DECISION of interest to ship- pers has been handed down by District Judge Augustus N. Hand in the United States court for the south- ern district of New York in the case of Arbib & Houlberg Inc., against the Second Russian Insurance Co. The decision was to the effect that marine underwriters are not liable for goods damaged by sea water unless it cat be proved that such damage was due directly to a peril of the sea. The judge held that a recovery could not be made as there was no proof that the cargo had been damaged by water that had entered during a storm. Trade Outlook at Boston Best in Months Incoming freight at the port of Bos- ton has been unusually heavy during the past month. One of the principal shipping interests reports the heaviest inbound freight from South America in the history of the port, and nearly all lines report an improvement in im- ports and a slight falling off in ex- ports. Arrivals of Egyptian cotton and other. material from the Mediter- ranean have been far in excess of freight offering for the return trip so that vessels which have unloaded at Boston have had to put in at other ports before returning. The present outlook for general traf- fic through Boston is decidedly favor- able, and according to one of the best authorities conditions are more en- couraging than they have been at any time since the first of 1922. The serious freight blockade at Boston docks of a month ago has been materially re- lieved, and while a large amount of material still awaits cars for its dis- tribution, this is not sufficient to turn incoming vessels to other ports. Some shipping interests feel that the port received a_ slight setback when the Boston & Maine railroad issued a new tariff cutting down the free time allowed importers’ goods on dock before moving. The new sched- ule cuts the free period from 14 days to 6 days after discharge of cargo. Storage rates beginning after the 6 days of free time are increased to 6.25 mills per 100 pounds per day. This new tariff places all of the railroads and all of the docks at Boston on a parity in the question of free time and storage charges. The Morgan line has extended its service to New England ports and the steamer. EL Laco is now plying be- - tween Boston and New Orleans. RP Ce ee