MAY 13TH, 1865: The CSS Shenandoah, then south of the Kuriles, steadily headed North, her position unknown in the vast distances of the Pacific. The threat of this single raider, however, created consternation in the North.
The merchants of New London, Connecticut, requested Secretary Welles to protect their whaling vessels in the Arctic and Pacific oceans. Previously New England ship owners had sought protection by purchasing additional insurance. When news arrived from England that the Shenandoah was on her way to the Arctic, the leading maritime insurance carrier in New England did a booming business.
In a three day period the Atlantic Mutual Insurance Company collected $350,000 in premiums from shipowners increasing coverage on their vessels. During the course of one day alone, the company received $118,978 in premiums -- the largest sum written by the company during a 24-hour period until the start of World War I.
The Fear of the Shen. --Old B-Runer
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