"The deck was deserted when the boat was launched, and Mr. Ismay and myself decided that we might as well enter the boat and pull away from the wreck. If he wants me, I assume that he will write to me.
"I can say nothing, however, that he has not already said, as our narratives are identical; the circumstances under which we were rescued from the Titanic were similar. We left the boat together and were picked up together, and, further than that, we were the very last to leave the deck.
"I am ready to go to Washington to testify to the truth of Mr. Ismay's statement, and also to give my own account at any time I may be called upon. If Mr. Ismay writes to me, asking that I give a detailed account of our rescue I will do so."
CHAPTER XXIII. THE FINANCIAL LOSS
TITANIC NOT FULLY INSURED—VALUABLE CARGO AND MAIL—NO CHANCE FOR SALVAGE—LIFE INSURANCE LOSS—LOSS TO THE CARPATHIA
SO great was the interest in the tragedy and so profound the grief at the tremendous loss of life that for a time the financial loss was not considered. It was, however, the biggest ever suffered by marine insurance brokers.
The value of the policy covering the vessel against all ordinary risks was $5,000,000, but the whole of this amount was not insured, because British and Continental markets were not big enough to swallow it. The actual amount of insurance was $3,700,000, of which the owners themselves held $750,000.
As to the cargo, it was insured by the shippers. The company has nothing to do with the insurance of the cargo, which, according to the company's manifest, was conservatively estimated at about $420,000. Cargo, however, was a secondary matter, so far as the Titanic was concerned. The ship was built for high-priced passengers, and what little cargo she carried was also of the kind that demanded quick transportation. The Titanic's freight was for the most part what is known as high-class package freight, consisting of such articles as fine laces, ostrich feathers, wines, liquors and fancy food commodities.
LOST MAIL MAY COST MILLIONS