(3 of 3)
†The highest insurance on wheat cargoes ($1.75 per $100 value in mid-October) is carried by ships out of Canada's new artificial Port of Churchill on Hudson Bay (TIME. Sept. 14, 1931). Last October the 5. S. Bright Fan, out of Churchill with 253,000 bu. of wheat, steered off her course in Hudson Strait, her compass swung untrue by the nearby north magnetic pole. She crashed into an iceberg and went down in three hours in 900 ft. of water. Canadians feared the Bright Fan's end would make Lloyd's drastically step up insurance rates on Churchill cargoes. But last week Canada's Department of the Interior announced a new agreement with Lloyd's, giving Churchill cargoes even better rates, extending the August-September insurance season from July 10 to Oct. 20.