Monday, 19 October 2015

Waratah - posted missing.

The Mercury (Hobart) Monday 4 October, 1909.

It frequently happens that vessels arenot heard of for months, but they are notposted as "missing" at Lloyd's, the greatshipping and commercial centre in London,until there is every reason to suppose theyhave been lost. In the case of the Waratah,the search vessel sent out about a week agowill explore the ocean for a couple ofmonths if necessary in looking for tracesof the missing steamer, and it is not probable that Lloyd's will consider the question of posting the Waratah until after the returnof the search steamer. 
A wide margin is always allowed before any vessel is declared missing, particularly in the case of sailing ships, which often are delayed for long periods by adverse weather. The reason for the delay is obvious. When a vessel is "missing" according to Lloyd's the under-writers' companies have to pay the insurance money, but probably another three months will pass before the Waratah's name is added to the list of lost ships. If it should become necessary to adopt that course. If a vessel turns up after the insurance claims have been met in consequence of Lloyd's having declared sheis missing, the shippers of cargo and the owners of the vessel having exchanged their papers for the companies' cash, the companies would become the owners of the vessel and her cargo, and might make money on the transaction, but the possibility of such a thing is remote.
The Waratah was posted missing 15 December, 1909, 4 1/2 months after she failed to arrive at Cape Town.

the underwriters' room, Lloyds, 1903

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