BUILDING OF NEW CUNARDERS
TERMS OF INSURANCE. (British Official Wireless). RUGBY, Nov. 5. The terms of the agreement between the Board of Trade and th Curiord Steamsh,ip Co. Ltd., for th® insurance of one, and possibly two large (passenger vesselts of except ion itvalue, which the company propose tc build, have been issued. The value'of these vessels "’id. it- ' anticipated, be aboiit £4,50-.',000 each, and uncertainty exists whether the normal insurance market will b<> abb to absorb the whole amount of the insurance required.
The effect of the sun-eminent, if entered into would be that the Govern ment would undertake to provid' 1 insurance against both construeti-’n aiu marine risks in respect of the -first vessel to be -built by the company, in sc far as the ordinary insurance marke 1 is unalble to do so. The eomnany would be required to exhaust the ouen market before calling on the Ponrd of Trade to make up the deficiency. The agreement also nrovid- n s fo” the insurance of the second vessel on similar terms, provided th° Board c>‘ Trade is satisfied. Her keel will bo In id witliin six years from the execution of the agreement.
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Hokitika Guardian, 8 November 1930, Page 3
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196BUILDING OF NEW CUNARDERS Hokitika Guardian, 8 November 1930, Page 3
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