AWARD OF THE FISHKKY COMMISSION*. 



3455 



tion they should think that sufficient reason has been assigned to cause 

 the belief that the vessel has been lost, they shall cause the Secretary 

 to lay an assessment upon all the stock notes sufficient to cover the loss 

 on the vessel, and such assessment shall be levied and collected within 

 thirty days, and the loss adjusted with the parties forthwith. 



Article 25. In case of disagreement regarding any loss which may 

 take place in this Company, the parties agrieved shall make a written 

 statement of the facts in the case, and the Directors shall also make a 

 similar statement, and if the loss cannot be adjusted by the parties, a 

 reference shall be chosen in the manner pointed out by the laws of the 

 Commonwealth, and their decision shall be final. And losses shall be 

 made up by some person not interested in the Company when the in- 

 sured so request. 



Article 20. This Company will not insure over eight thousand dollars 

 on any one vessel and her outfits or cargo. 



Article 27. No vessel insured by this Company receiving damage 

 whereby the Company becomes liable, shall in any event be sold until 

 directions to that effect shall have been cotnmunic.ited to the master or 

 agent from the Company. 



Article 28. No vessel shall be insured by this Company for more than 

 seven-eighths of her value as decided upon by the Directors, the owners 

 of the vessel in all cases risking one-eighth of said value. 



Article 29. Gilt work or carving shall not, when lost or damaged, be 

 paid for by the Company except in case of total loss of vessel. 



Article 30. Cables or anchors lost or sacrificed on the fishing grounds, 

 shall not be paid for by the Company in any case, except total loss of 

 vessel. 



Article 31. In adjusting partial losses, the bow-sprit of a vessel shall 

 be considered a spar. 



Article 32. No vessel shall sail from the harbor of Gloucester upon 

 any voyage whatever after the fifteenth day of November next, at noon, 

 at the risk of this Company. Any vessel not having arrived from the 

 voyage, she then is on November 15th, at 12 o'clock, noon, shall pay a 

 premium at the rate of one and one-half per cent, per month until her 

 arrival. The Policy on such vessel to be continued until her arrival as 

 aforesaid. 



Article 33. This Company will not, tinder any circumstances, pay for 

 copper or any other metallic material u>ed as a covering for the bottom 

 of vessels, except in case of total loss, in which case the copper or other 

 material shall belong to the insurers, and copper or other metallic mate- 

 rial used as aforesaid, shall not be considered at all in the adjustment 

 of a partial loss. 



Article 34. The rates of premium for the current year shall be as 

 follows : 



From Nov. 1G to Nov. 30 of next year, 9 per cent. 

 " Dec. 10 " " " " " 8 



" Jan. 1 " " " same " 7 



t< u 15 u u u u u (} 



" Feb. 1 " " " " *' 0" 



" Mar. 1 " " " : ' " 54 



" Apr. 1 " " " " " 5 



" May 15 " k ' " " " 44 



" July 1 " " " " " 4 



But when either of said dates shall fall on Sunday, then the premium 

 upon applications made on the next day preceding shall be computed 

 under the rate of the date so occurring on said Sunday. One per cent. 

 on amount insured to be added to the premium of any vessel employed 



