The Sunday Oregonian., August 16, 1908, Magazine Section, Page 4, Image 44

TITE SUNDAY OREGOXIAX. ' PORTLAND, -AUGUST . 16, 1908.
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BISHOP SCABDINS SEIZES
THE OPPORTUNITY TO EXPLOIT
OUR NATURAL SESOOTCE-S
AT THE LAMBETH CONFERENCE
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T20C2JHI: S'T'-ECS CATiiEDEAL WHERE
PALACE
THE Lambeth Conferenc. now be
ing: held In England, Is attended
by bishops, of whom 60 are
from the Episcopal Church In the
United States. The sessions are held
daily from 10:30 A. M. till 5 P. 11., with
one hour for luncheon, which Is pro
vided by the Archbishop of Canterbury
t Ijtmbcth palace. In the evenings and
on Sundays, missionary meetings are
held in various parts of England, In
which the American bishops take an
active part. At Shrewsbury an open
air mass meeting was held, which was
unique. The bishops, clergy and vested
choirs, headed by a brass band, assem
bled In the main street at 7 P. M., and
marched In procession through tha
streets to a large park, called "The
Quarry." Of this remarkable meeting
the Shrewsbury Chronicle says:
"The history of Shrewsbury furnishes
no parallel to the great Impressive ser
vice of intercession and thanksgiving.
A procession was formed from the
Square. In which most of the local
clergy Joined. Members of the various
choirs also walked in their surplices,
and the procession was headed by the
Artillery Band, under Mr. J. C. Bowd
ler. The streets were lined with thou
sands, delightful weather prevailed, and
the proceedings throughout were a con
spicuous success. A platform had been
erected close to the bandstand, while
the band occupied the lattter and ac
companied the hymns."
The speakers were the Bishops of
Qu'Appclle, who spoke for Canada, de
scribing its productiveness and the
missionary problems arising out of
Canada's vast incoming population; a
colored missionary from South Africa,
and then the Bishop of Oregon, repre
senting the Pacific Coast.
American Assimilative Power.
Bishop Scaddlng said he could claim
all and more of the advantages for Ore
gon than the Bishop of Qu'Appelle had,
claimed for Canada In the way of offer
ing religious, educational and commer
cial advantages To tha settler, but he
had brought with him a leaflet, which
was widely circulated, giving Interest
ing facts about Oregon, and he would
confine his speech to educational and
religious problems, saying that "the
races which can assimilate other races
and help them forward are those which
prosper, and the races which cannot are
those which are on the decline." That
truth applied perhaps more fully to the
United States and to the Anglo-Saxon
race all over the world than It did to
any other. We saw a marvelous power
of assimilation on the part of the Anglo
Saxon race In an .extraordinary degree
in the United States of America. There
we found men of every race coming to
take tip their abode, and somehow or
other' drawn Into one nationality, as
similated by those who carried on the
government of that country and formed
the nucleus of the population.
- To what extent It would go on in fu
ture no one could say, but he believed
there was truth in that observation, that
it was proof of the healthy condition of
a race that it should be able to assimi
late the people of other nations and bring
them Into one nation, and under one ac
cepted Government. Of course the word
assimilation was very suggestive. It sug
gested first of all the process that went
on in every human body. It was by as
similation that the human body was fed,
and the human body must be In a fit
state of health if.lt was to assimilate
the food presented to it, and that food
must' be wholesome and such as would
nourish Rnd support the body. That was
what they found In the process of the
natural human body, and If they extend
ed that to the race he saw an Illustration
of It In America. Canada and other
places. He thought they might apply the
same test to the Church of Christ: that
communion was healthy which had the
power of assimilation. And In connec
tlon with that thought he would point
out that the one thing whtch seemed to
mark the whole of the congress In Lon
don was, the different point of view from
which the church looked upon a great
many problems affecting the whole of
human society socially and religiously
now to- what she did 30, 40 or BO years
ago and that doctrine of assimilation
came In to help them greatly there be
cause they had to Illustrate spiritual pro
cesses by natural processes, and they had
to apply the terms of the natural 'to the
spiritual In order to make them Intel
ligible. Therefore might they not. as
they could take that power of assimila
tion as the test of the health of the
human body and as a test of tha health
of any nation or of a race, take it afttf
as a test of the health of a spiritual
body the Church of Christ of that
enmrnunion of the church to which they
belonged? t What did they see going on
there? They saw and they thanked God
for it, a wonderful power of assimilation.
They were brought Into contact with all
the nations of the world and all races of
people to a degree which was impossible
half a century ago.. They were brought
into contact with fellow-creatures who
had their own ways of thinning, who had
their own work to perform In the world.
,who were God's care a.s well as them
selves, ana were redeemed of Christ as
well as themselves. To those races the
church had to bring a message, and it
went to them as a living body and in a
healthy state, and one that would as
similate. Bishop Scaddlng concluded:
"To our shores come Germans, Swedes,
Italians, Russians, French, representa
tives from every nation under heaven. It
Is the glory of America that she Is doing,
and can do a greater good for mankind
than Britain can possibly do, by reason
of our very opportunities.
"It is one of the miracles of history
that America takes all these varied na- .
tionalities, puts them into the cauldron of
her free schools, and American institu
tions, and in a marvelously .short time
serves them up as thoroughly loyal Amer
ican citizens.
"Ad it is further deemed decidedly un
American to speak of such citizenship as
being inferior, because it Is a citizenship
. by choice, and adoption rather than by
mere accident of birth.
"Yes, it Is the pride and joy of Amer
ica, that under the freedom of her com
prehensive American Constitution she
welcomes all nations, kindreds, tongues;
she bends willingly and bravely to "tak
up the white man's burden," and If in the
veins of these new-born peoples there
flows no drop of Anglo-Saxon blood, yet
In an Incredibly short time the Anglo
Saxon speech is on their tongues, and
American ideas and principles within
their minds and hearts."
Similar services were held In Liverpool,
Rochester, Hereford, London and else
where. Oregon's Great Resources.
Following Is an editori.'il In the
Daily Post and Mercury after Bishop
Scaddlng's public address In Liverpool:
Among . tha Interesting personalities
Arought to England by the Pan-AnKllran
Conference la the Blahop of Oregon. A Klirn1 1
at what he has'to do and where he has to do ,
It affords a revelution. Hla travels taka
him over vast districts in which the popu- !
latlon la scanty. What does the State of ,
Oregon mean In point of plze? "Who will ;
guess? Kngland, Si-otland and Wales could :
be placed Inside Oregon, and then there 1
would be ample space all around. The good
bishop gives a Jocund account of his work.
Not all his traveling Is difficult, oh. no.
Many of the parishes and missions "where
rolls the Oregon." are accessible by boat.
Many are west of the Cascade Range, "where
flows the Ijteautlful Willamette." and these
the bishop can reach by well-appointed
trains on the Southern Pacific Railroad. But
Vot all Oregon is like thlB. Missions in the
interior and along the coast are much more
difficult to reach. They mean lone drives
by stage. What Impressed the audience Is
that Oregon has great promise. In the
mountain ranges of the vast area ia untold
mineral wealth. There are forests of the
finest cedar and Oregon fir. There are great
fisheries, wonderful rivers, deep harbors, a
seacoast of over 500 miles, millions of acres
of unappropriated rich agricultural lan.ls.
All this must make Oregon presently one of
the nnest states of the Union. Everyone who
sees It "soon feels the stir of the prophetio "
greatness of this region." But while the
grass grows the proverb is musty, but here
is a new reading of it religion is likfly
enough to starve. The resources are ampie,
but Oregon needs more railroad facilities
and more sturdy settlers with some capital.
The Bishop and Mrs. Scaddlng sail from
Liverpool by C. P. R. steamer Empress of
Ireland. August 9, immediately after the
close of the Lambetu Conference, and ex
pect to reach Portland during first aeelc
In September.
LONDON, S. B., July U.
THE BRITISH. LLOYDS AND ELECTION BETS
This Concern for Two Centuries Has Been Backing
Strange Risks Its Insurance Policies Against Bryan
WHEN the fact was heralded a few
days ago that the time-honored
election betting In the financial
district, made impossible by the new antl
Sambling laws, might be revived under
the respectable auspices of the ancient
JJoyds of Lonuon. through the medium
of 'Insurance" policies against Mr. Bry
an's election, the Insurance brokers were
flooded with a tide of strange clients
anxious to get their money down. Many
of these sporting gentlemen, accustomed
to call a spade by its plain name, who
were turned down, none too gently, by
outraged and indignant brokers In Inter
national insurance, are perhaps still at
loss to fathom the fine distinctions drawn
by modern successors of the 17th century
patrons of Edward Lloyds' old coffee
house In Tower street.
To them It was explained that Lloyds,
known to the four corners of the earth
as the one place where every vagary of
fate could be discounted In cash, was not
a gambling establishment, that the same
underwriters who wrote insurance against
Harry Thaw's conviction, who have car
ried for a generation a policy against tha
toppling of the Nelson monument upon
the premises of a Strand tradesman, and
who for centuries have written policies
against every conceivable human disas
ter from the death of kings to rain on a
gala day, would not take "wagers."
Some Klection RUks.
.Should a merchant or a manufacturer
lay in a stock of goods or start his fac
tory full tilt in anticipation of brisk busi
ness following the election of Mr. Taft,
he might calculate his loss In the con
tingency of Mr. Bryan's elevation to the
chief executive's office failing to bring
about a quick return of good times and
insure against it. but the brokers insist,
in such case tt would rest with the little
group of London underwriters to decide
whether it was a fair risk, and there
would still be the Lloyds" agent in New
York to be reckoned with in proving the
claim.
Some business was done with London
on this basis a week ago. and the first
risk, that of a manufacturer who wanted
to run hi plants at full capacity for the (
two months preceding the election, was
insured against loss In the event of Bry
an's election by paying a premium of 10
guineas per cent. As the guinea is a
shilling in excess of a pound, the pre
mium of 10 guineas in 100 is equivalent
to lOVi per cent. The amount of this
policy remains a secret between the prin
cipals, but it has not been denied that it
was well up toward J100.000.
Lloyds are a canny crowd of British
era, and with a wary eye On the uncer
tainties of the American public even
with a twice-defeated candidate to reckon
with, they were not anxious to carry too
heavy a load of the anti-Bryan policies,
and accordingly advanced their premium
to 13 guineas in the hundred pounds,
and as the limit of the sum available for
this class oi Insurance approaches will
put the premium up step by atep until It
reaches a prohibitive figure. The limit.
however, is elastic, for all but the marine
risks, the one class of Insurance officially
recognized at Lloyds are underwritten
by the individual members or groups, wbo
may, of course, as the campaign pro
gresses or as their Information from the
states dictates, take on additional anti
Bryan risks to an amount limited only
by their ability to find funds to hack
their opinions.
Scope of the Concern.
Since 1871 the successors of Edward
Lloyd's patrons have been an incorporat
ed concern with a charter giving them
the three-fold privilege of "writing ma
rine Insurance," "protecting the interest
of members," and "the collection and
diffusion of intelligence and Information
with respect to shipping." As has been
stated, marine insurance Is the only form
of policy which has the backing of the
corporation.
To secure these policies, each of the 00
underwriting members of the total bodv
of 25-0 deposits with trustees upon ad
mission securities to the value of 125,000,
which constitute a fund now approximat
ing CS.COO.OOO. corresponding to the capi
tal and surplus of an insurance comoonv.
All other classes of risks have only the
oacKing or the credit and good faith of
the makers of the policy and their asso
ciates in the underwriting, for the strange
risks which have made Lloyds famous
are usually subscribed to by many mem
bers, each taklrxr a small share and thus
dividing the responsibility.
About as near as Lloyds ever came In
recent years to making a real election
wager, or rather to helping an. American
bettor to hedge, was in the Roosevelt
Parker campaign four years ago. The
lucky owner of an J8000 bet on Roosevelt
counted the money as good as won as the
end of the campaign approached, till It
was suggested that he still stood to lose
If the Republican candidate should die
before election. That possibility was the
one worry he had until It occurred to him
to take out a Lloyds policy for (3000 on
Mr. Roosevelt's life. To suggest to a sup
porter of Lloyds that such a policy Is no
more than a bet would be to brlir down
the wrath of more than two centuries of
British respectability, not that Lloyds
has always been accepted at home as
free from the charge of gambling, but
In an establishment so ancient old muck
raking can be forgotten.
An Early Criticism.
It would be a carping critic who would
hark hack to 1768 to find In The London
Chronicle an article condemning Lloyds
coffee-house, then in Cheapside, as
"meeting place for all manner of illicit
gaming," and complaining that the mem
bers practiced betting "under the guise of
Insurance on all manner of happenings.
from the outcome of elections to the trials
of peers. No doubt then, too, the mem
bers defended their acts and refused all
risks where the possibility of a loss could
not be demonstrated.
That was before the period of almost
continuous disturbance in Europe, making
Insurance against the capture of his vcar
goea by French, Dutch or Yankee ships
a business necessity with the British
merchant, had given Lloyds national im
portance In commerce and made the coffee-house
men the leading underwriters
of Europe. For all that, however. Par
liament "Investigated" In 1810 "The New
Lloyds," as the successors of the coffee
house group had styled themselves when
they took up quarters In the Royal Ex
change in 1774. This Investigation was
followed by a reorganization In 181L since
when the underwriters have been more
jealous than ever of their respectability.
The "betting on the trials of peers.
which the London Chronicle, nearly a
century and; a half ago classed with other
forms of "Illicit gaming," which it ac
cused old Lloyds of harboring, found its
parallel In New lork only last year.
when Lloyds wrote a policy against the
conviction of Harry K. Thaw for the mur
der of Stanford White. The premium
charged was 30 guineas in the 100 pounds,
or SH4 per cent, the agreement calling for
the payment of the face of the policy If
the prisoner was executed. It was never
revealed to whom the policy was payable,
but at the time It was suggested that it
might be granted a legitimate transaction,
above all taint of gambling. If It was
taken as Insurance against the damage to
the prestige of the trial lawyers which
would result from a conviction. That the
Lloyd underwriters were shrewdly in
formed of the conditions governing New
York jury trials was borne out by the
verdict, and the premium asked, a strange
coincidence, was about the odds offered
in' the betting here, which was consider
able.
One of the periodical sources of busi
ness to the underwriters at Lloyd's is
Insurance against rain when some
1 great' public event is to take place
which demands fine weather If the pro
moters are to reap their expected prof
its. Though specific Information is not
at hand, the underwriters would be de
parting from their usual practice if
they have not carried heavy policies
against loss to the promoters of the
Olympic games in London should bad
weather seriously cut the attendance.
When last Spring the crops in the
West were held back by heavy rains
and the rivers were making new high
wafer marks, a Chicago man wagered
115,000 that It would rain a certain
number of days In' May. He won, and
repeated his bet for June. He did not
hesitate to call his transactions "bets,"
and as such they were read of by an'
Interested public all across the coun
try. He failed to come within the pale
of respectability, a Lloyd's man will in
sist, because there was no element of
loss involved warranting the payment,
and no premium was paid.
Mortality tables have changed life,
Insurance from the simple gambling
that it was In Its early days and have
made It possible to guard against an
untimely fate for a comparatively small
outlay. The same principle of aver
ages, in a modified form, the Lloyd's
underwriters claim to have behind
their policies, but it is the element of
"protection" which subdues all ethical
misgivings. Protection against rain is
what they write their policies on, and ,
not as bets on the weather.
Though It if tittle known, it Is a i
common thing for the promoters of
outdoor events on this side of the
water to take out Lloyd's policies. The
managers of the last Vanderbilt Cup
race on Long Island insured themselves
not against rain, for there" were no
admission fees to be lost, but against
suits for damages arising out of acci
dents. Insurance against the spoiling of an
outdoor spectacle cost Lloyd's one of
the heaviest losses in its history. Lon
don had expended hundreds of thou
sands of pounds on decorations and
stands along the route of what was to
have been King Edward's coronation
procession In 1902. For premiums,
which eventually rose from 10 to 25
per cent., the underwriters had insured
the prospective profits of the. owners
of the street stands and of tradesmen
who had stocked up heavily in antici
pation of a heavy holiday demand, the
Idea being that only a phenomenal
storm could keep the people Indoors
and prevent gross profits from reach
lng the highest expectations. King
Edward upset the carefully worked out
weather "mortality" calculations of the
experts by taking ill and causing the
indefinite postponement of the cere
mony. A new source of business to Lloyd's
from this side of the water, for which
the burden of obligations seems to lie
heavily with us, has arisen out of the
apparent inability of the police to pro
tect property from the bombs of tty
Black Hand. As every householder
knows who carries a fire insurance
policy, damage by explosion is not
counted among the losses to be made
good. The London underwriters, per
haps made optimistic by their wide
separation from the troubled east side.
have so far shown no reluctance to
take on Black Hand risks for the mod
est premium of 6 per cent. Several
holders of Astor leaseholds on tene
ment property within the "bomb belt,"
haye taken such policies from London
against dynamite outrages.
A Unique Insurance.
A certain group of Lloyd's men have
for years made a soeclaltv of Insurance
against domestic calamities. Twins can
be discounted for a small premium, and
triplets for even less, the underwriters
claiming to have reduced this risk from
long experience to a truly scientific basis, j
The classic joke among insurance men is
the "mother-in-law policy," by which a
man was Insured for 20,000 against lay
ing violent hands on his niother-ln-law.
Why It should have been worth so much
money to him to Jteep his temper is ex
plained In this wise. The insured had
been willed 25.000 by his mother-in-law
on the sole condition that he did not mo
lest her during her life. He wanted to
realize on his legacy, but could not bor
row money because of the qualifying
ciause in the will. If he could give the
proper guarantee that the will would not
be revoked for that cause, the money
lenders were willing to advance :o,000.
A Lloyd's agent was found with suffi
cient faith in the son-in-law's self-control
to write a policy Insuring the money lend
ers against this contingency.
The present home of Lloyd's is one of
the show places of financial London. The
business of writing insurance, now en
tirely separated from the news gathering,
which in the seventeenth-century days
of Lloyd's was the chief reason for the
gatherings at the coffee house, is carried
on five days a week from 3:30 to 4 P. M.
In the big, rectangular "underwriters
room." Here the brokers, who form an
entirely separate class from the under
writers, who are the bankers of the insti
tution, and differ yet again from the
"subscribers," who want lnformatl''
only, bring their policies to be underwrit
ten. '
While about 600 6f the 2500 members are
"underwriting members." only a small
proportion of the total actually attends on
the floor, but each underwriter Is the rep
resentative of a group of the underwriting
members. The brokers know the special
ty of each and take their" memoranda of
risks from desk to desk until the whole
has been underwritten. Usually a broker
with a large policy to place has to divide
it up among a considerable number of un
derwriters to get the full amount desired.
Each policy, outside of marine Insurance,
is entirely a bargain between the broker
and the men whose signatures he obtains,
and his security Is their credit.
The gathering of shipping Intelligence
which has carried the name of Lloyd's to
every coast of the navigable seas was
made a separate Institution about the
time of the incorporation of Lloyd's. In
1S71, and is conducted under the) name of
Lloyd's Register of British and Foreign
Shipping, whose rating of vesselTTs now
the standard the world over. This regis
ter of vessels and system of general ship
ping Intelligence dates back to the iittle
sheet published first at Lloyd's cofee
house, in lt2. though it has had a cotitln
' uotis existence only since 17i'6, when
Lloyd's List was founded, and by confin
ing Itself exclusively to shipping intelli
gence avoided the political troubles and
eventual suppression which overtook its
predecessor. Even dating from the more
recent antiquity of Lloyd's List, the or
gan of tho agency is the oldest paper In '
England except The London Gazette.
Many of the laet century practices are
still rigidly adhered to at Lloyd's, where
conservatism is the rule In everything but
business. One of the quaint appurtenances
of the peace is the ship's bell which hangs
above the crier's rostrum, a relic of the
frigate Lutine, captured from the French
before Toulon and sunk in 1799 off the
coast of Holland with nearly a million In
gold aboard. The bell Is struck for RilencA
to precede the crier's announcement nf
the sinking of a ship or to mark as offi
cially lost a ship long overdue.
When Lloyd's Directors post a ship as
lost and tho Lutlne's bell has struck the
English law accounts It lost In fact, and
losses are collectible from that minute
and the wills of the missing passengers
and crew may then be probated.
I The Man With the Spade.
Baltimore Pun.
"What are the chickens laughln' for?" said
Suburbs with a spade.
"To see you dig. to see you dig,' the City
Cynic said.
"What makes 'em 'wait, what makes "em
wait?" Bald Suburbs -with a spade.
Theyre waltln' for the seed you plant,"
the Ciy Cynic said.
For they love a country garden, with
room to scratch and play;
They hope you'll keep on dlggin' and a-
rakin' clods away.
An' when you start to plantin' vegetables
they'll be gay.
For they're ready to start scratch in' in
the mornln'!
"What are the roosters crowln' for?" said
Suburbs with a spade.
"And hear the hens a-cacklin'i" "Oh.
yes!" the Cynic said:
"They're glad to see those packages of seed
you brought from town,
An so they're sending tidings of the good'
times up and down!"
For they know you'll never see 'cm when
another sun shall rise.
Although It's growin weather and the
.Summer's In the skies;
It's buying feed for chickens every seed
a fellow buys.
For they're ready to start scratchin' In
. the mornin'l