Thursday, 14 May 2015

Waratah - 45 guineas and climbing.


The Argus (Melbourne) Friday 6 August, 1909
RETURN OF THE TUG FULLER
NO SIGN OF THE STEAMER.  
LONDON, Aug. 5.
2.30 a.m.

No news of the Blue Anchor liner Waratah, which left Port Natal for Cape Town on the 26th July, with 300 (211) persons on board, was received in London yesterday. 
Re-insurances on the steamer were effected yesterday at 45 guineas per cent, and subsequently further re-insurances were done at 50 guineas.

It is clear from this report that the longer a vessel remained 'missing' at sea, the higher re-insurances climbed correlating with an increasing probability the vessel had foundered.

                                                      Arabic sinking

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