342 TESTIMONY 



and 1887 it was some more; a fairly good vessel at that time would be 

 insured at a rate from eight to nine per cent, and we made no distinc- 

 tion in rate between sail and steam vessels engaged in this business. 

 The outfit is insured at the same rates as the hull. The cargo to the 

 extent of the outfit is usually insured under the outfit policy, and the 

 catch as taken replaces the outfit. Insurance on seal- 

 insurance date. ing vessels is usua n y taken out in February of each 



year, although a few do take insurance in November or December to 

 seal along the coast. On return to home port of the vessel from a 

 spring and summer sealing voyage, which is usually in August or Sep- 

 tember, the owners frequently surrender their policies 

 for cancellation and receive a pro rata amount of the 

 premium for each month of unexpired time. 



In insuring a sealing vessel the premium is divided into four parts; 



one-fourth is paid in cash, the other three-fourths iu notes payable 



three, six, and nine months, with privilege of canceling the policy on 



return of vessel to port and receiving the unearned premium. In case 



seizure voids policy. of seizure the policy becomes void from that date. 



n ,.,_ M , The vessels engaged in the sealing business now are 



Quality of vessels. ,, im j_i n , • ,, 



of a superior quality to those usually engaged in the 

 Survey fee. business iu 1886 and 1887. The cost of survey is from 



ten to twenty dollars. 



Wm. H. C. Fowler. 



Subscribed and sworn to before me this 15th day of October, A. D. 

 1892. 

 [seal.] Clement Bennett, 



Notary Public. 



Deposition of JV". T. James, president of Union Insurance Company of 



San Francisco. 



State of California, 



City and County of San Francisco, ss : 

 N. T. James, being duly sworn, deposes and says: 

 I am forty years of age; a citizen of the United States, and reside in 

 San Francisco, California. My occupation is that of 

 ccupa ion. insurance. Was president of the Union Insurance 



Company of San Francisco uutil quite recently, and was marine secre- 

 tary of the Firemen's Fund Insurance Company of San Francisco for 

 seven years previous thereto, both companies of which done a marine 

 insurance business, and I am thoroughly familiar with the rates paid 

 by sealing vessels now as well as those paid in 188G and 1887. In those 

 years the general rate was eight per cent for total loss 

 on Bering Sea sealers, and they were not to go north 

 of St. Lawrence Island. The rates on outfit was the same as on the 

 hull. The cargo is usually, to the extent of the outfit, insured under 

 the outfit policy, the same being consumed and the cargo takes its 

 place. We made no difference in rates of insurance between steam 

 and sailing vessels. Insurance last year was about seven per cent, or 

 about one per cent less than in 188G and 1887. The 

 juaiyo ve vessels engaged in the sealing business for the last 



T t . year or two are a better class of vessels than those 



Insurance date. "'.»..,-«,-.•» i - nk~ X- ■>• ■■ • 



of 188G and 1887. Insurance on sealing vessels is 

 usually taken out in February of each year, althongh a few take out 



