§ 98. Mr. KEATING
asked the President of the Board of Trade whether he is aware that the demand for insurance of increased value on maize is such that the rates at Lloyd's have advanced to 10 per cent. on steamers and 20 per cent. on sailing vessels, although the original rate for the insurance of this food stuff when put afloat was only 1 per cent. under the Government insurance scheme; and whether he will consider the more equitable basis of requisitioning all maize lying in British ports, and to arrive at the price stated on the importers' original invoice, plus landing charges and rent, and a profit of 2 per cent. to the present owner?
The PARLIAMENTARY SECRETARY to the BOARD of TRADE (Mr. Roberts)
I am aware that the rate in the open market for the insurance of increased value has risen, but increased value as such can be insured at the War Risks Office at the Government rate prior to the sailing of the vessel, and there is no hardship in leaving the increased value which accrues after the sailing of the vessel to be insured in the open market. It does not materially affect the selling price of the commodity. The second part of the question should be addressed to the Parliamentary Secretary to the Ministry of Food.