Rensselaer Semi-Weekly Republican, Volume 38, Number 33, Rensselaer, Jasper County, 9 January 1906 — A DISASTROUS SEASON. [ARTICLE]

A DISASTROUS SEASON.

Vmr Ve**eln Lout on the Great Lakes During the Fast Year. Navigation for the year on the Great Lakes has been one of unequaled hardship and disaster to all concerned. The total value of vessels lost is placed at $4,625,000, and of cargoes at $750,000, which is greater than ever before reached. Seventy-nine vessels were destroyed by etorm nnd fire. There were 740 casualties of all kinds. Last year there were only 430, in 1903 there were 522 and in 1902 562. -Lake Erie led nil the lakes," with 158 disasters; Lake Superior was next with 129; Lake Huron had 108; Detroit and St. Clair rivers, 114; Soo Passage 65 and I.ake Ontario 48. Lake Superior led all the hikes in the number of lives lost and property dig-' stroyed. The storm of Nov. 28 of this year was one of the most destructive ever known. The .property loss by it is noW- estimated nt $1,750,000, and this will bfc greatly increased if some of the big vessels now ashore are not released before winter sets in. Marine underwriters have been hard hit. Some of the big companies will be called upon to pay $2 for every dollar . received in premiums. The losses which they will have to pay aggregate $1,516,000 on hulls and $430,000 on cargoes, Joes not Lake ip to account a long list of partial losses. The great losses of the past season occurred during the three big storms of the fall. During the early months of the season the underwriters were remarkably fortunate, few of the boats lost being insured. Owing solely to the fact that the steel trust does not carry marine insurance, some of the companies’ probably escaped bankruptcy. Up to the present year the steel trust lias made money by not insuring. The premiums on its fleet would amount to about $750,000 a year. A comfortable surplus was aceiynulnted during 1903 and 1904, but it is said that the November storm wiped this out.