Steamship Company Travel Checks - 1910
Nearly all steamship companies issue checks which are available the same as express checks and letters of credit. These have the advantage of heing cashed at the offices of the steamship companies at hours when banks are not open, and they may be cashed in moderate amounts on the steamer for obtaining funds for use during the voyage.
Hotels will usually cash them if the amounts are pot too large. Additional amounts can be secured by cable, the money being deposited ip New York and the checks issued by the steamship office abroad.
In case of loss new checks are issued upon satisfactory proof of ownership and the execution of a bond of indemnity with proper security. Checks not used are redeemed at full price. The charge is usually 1/2 of one per cent., but this may vary.
Gibraltar serves as a port of call for the Imperial Mail steamers of the East Asian service of the Norddeutscher Lloyd; also for the steamers of the Italy-New York service; both on the outward and homeward passages.