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* LLOYD. 364 LLOYD'S BOND. of the Life of Pytliayuius and of Ilis Famous Conlcmiiururics (1C99) ; .1 Disscrtalion on Dan- iel's iScirnly Weeks (lO'JO); unci .1 System of Chrunoluyy (1G90). LLOYDS, loids. An incorporateil association of uiuleiwriters, ineruliant-s, slii])-ovm'rs, ship biokcr.s, and insurance broUers. Tlic liunie ollice of the association is in Jjonilon. wlicre it occu- pies a suite of rooms in t!ic Royal Exchange. The objects for which the association was formed arc, according; to the act of incorporation: (a) earry- inj,' on the business of marine insurance: (b) the l)roteclion of the interests of the members of the associ;itiun : and (c) the collection, publication, and dill'iision of intelligence and inl'ormatimi willi respect to shipping. The association is composed of members and sub.scribers, and no others are allowed to avail themselves of the privileges of the rooms. The members are of two classes, underwriting members who pay an en- trance fee of £100 and are reiiuired to deposit securities to the value of 15000 to £10,000 as a guarantee of their engagements, and non-under- writing members who pay a fee of twelve guineas. by deep-sea ships. Lloyd's Ueyister of British and Foreiijn S/iiiy/iiny is a volume published annually containing information respecting ves- sels, their age, material, repairs, owners, cap- tains, etc.; also details of docks and other mari- time information. The ollice of the Reyister is distinct from JJoyd's of the E.xchange. The classification of ships, as regards their con- struction and seaworthiness, made by Lloyds sur- veyors and contained in the registers, dates from the middle of the eighteenth century, and in the earliest copy extant of Lloyd's llry'istcr of .SVn/i- piity, dated 17(i4-(i5-tiO, vessels are classilicd in groups, designated by the letters A, E, I, 0, U; A .standing for a fifrst-class ship. With these letters were used G, M, and B, referring to the eiiuiiunent, and indicating whether it was good, middling, or bad. In the Rryister of IVfiS-G!) tlu' numbers I, 2, 3, 4 are employed to denote the condition of the equipment, and the letters A, E, I, O, U are printed small. In the h'ci/isler 1775- 7(i the liiill is again described by Roman capital letters, and the eiiuipment by the figures 1 and 2. As iron ships began to be' used, it was found Subscribers pay an annual subscription of five necessary to classify them into grades, and in guineas, but no entrance fee, and liave no voice 1809, on the adoption of new rules for ship-build- in the management of the affairs of the associa- '"g> numbers were used for iron ships, and a sys- tion. The management of the association and tern of classification followed which in the main is its operations is delegated to the 'committee for still used. This classification of ships was deter- managing the aft'airs of Lloyds,' selected by the mined by rules adopted to govern shipbuild- members from among themselves. Routine wor'c '■*■ "'I'l "is universally recognized by mercliants is carried on by a secretary and assistants and ^"'1 others, as it enabled them to determine the a large clerical stall'. The method of efl'ccting seaworthiness of a vessel by consulting the regis- insurance is for a broker to write upon a slip of paper the name of a ship and of her master, the character of the car;;o, the amount at which it is valued, nature of the voyage, etc. If the risk is .accepted each underwriter subscribes his name and the amount of it which he will underwrite, the insurance being efTccted as soon as the total amount is made up. As the premium rate largely depends upon correct information upon all points connected with the risk in question, one of the first rei|uisites of the association has been an ellicicnt nuuilime intelligence department, and in the development of this the greatest success has been achieved. The association of Lloyds had its origin over two hundred years ago in the meeting of mer- chants for business and gossip in a cofTee-house kept by Edward Lloyd in Tower Street, London. The earliest mention of these meetings iippears in the London (la;:cttc of February 18, 1088, but the eliaracter of the notice iniplicsthat they were then no new thing. Their growing imporlaiice led JMr. Lloyd to remove to Lombard Street in 1692, and soon afterwards he began the issue of Lloyd's Xcics, devoted to mercantile and mari- time information, eventually succeeded by Lloyd's List (published daily), the second oldest news- paper in London. The merchants and under- writers continued to meet in the same manner during the greater part of the eighteenth cen- tury without any ap|)arent organiziition or rules, but as the business increased in volume, the mer- chants, underwriters, and associates moved first to a building in Pope's Head Alley and finally, in 1774, to the Royal Exchange. The association adopted in 1779 a printed form of policy diflfering but little from that in use to-day. In ISll the society was reorganized, and in 1871 incorporated. Its agents are to be found in every maritime port in the world frequented ter. See article Al for modern systems of classi- fying wooden and iron ships. Consult the occa- sional publications of Lloyds; Lloyd's Rules for the Buildiny and Classijication of Hhips; and Annals of Lloyd's Reyister of British atul For- eiyn Shippiiiy (London, 1884). LLOYDS, ArsTRiA.v. An association for gen- eral commercial and industrial jnirposes, found- ed in Triest by Baron Bruek in 1833, to supply the want, experienced by the maritime insur- ance conijianies of that port, of a central ad- ministration to attend to their common interests. This association, like its London prototype, has agents in all the principal foreign ports, whose duty it is to collect all information of a nature to aflect the commerce and navigation of Triest, and to keep a list of all entrances and clear- ances of ships at their respective ports. This in- formation is published in the Qiornalc del Lloyd Austriaco. Tliis company has established regu- lar communication between Triest and all the important seaports in the Adriatic and Levant, by means of a large fleet of steamers, which al-o carry the Austrian mails. The society of Au- trian Lloyds includes three sections: " the first is composed of insurance companies, the second of steamboat companies, while the third or sci- entific department (established in 1849) has a printing establishment, an engraving-room, and an artistic establishment for the perfecting of engraving on copper and steel. This last section has issued a great number of literary and scien- tific journals. LLOYD'S BOND. The name of a security much employed in England during the period of railway construction, between 1850 and 1870, when railway companies were hampered by Par- liamentary restrictions upon their borrowing power. A Lloyd's bond, so called because intro-