The sixty-mile gale yesterday, accompanied during a part of the day by rain, caused a number of minor accidents on land and sea, and delayed the shipping entering and leaving the harbor, but did not do any serious damage. The United States Weather Bureau records showed that the wind was blowing at fifty-six miles an hour by 10 o'clock yesterday morning, and dropped to forty miles at noon, and reached its maximum of sixty miles velocity at 4 o'clock. Toward night the wind shifted to the northwest and dropped to thirty miles before 8 o'clock. The prospect for today is diminishing northwest winds and fair weather.
During the forenoon four appeals for aid from ships in distress were received at the Naval Radio Station. The first came from the Spanish freighter Yute, Baltimore to Dunkirk, disabled 240 miles east-southeast of Cape May, NJ. The United Sates Coast Guard cutter Seneca was sent to her assistance finally and towed the Yute into port. ("Storm Winds Blow on Land and on Sea," The New York Times, November 18, 1920.)
"The commercial morality of the world seems to have been markedly lowered as a result of the war," said one underwriter today, when asked for an explanation of the situation. "The demand for bottoms after the armistice raised shipping to unprecedented values. Insurance valuations increased correspondingly. Then the slump came and values were lowered and owners faced tremendous losses, but insurance policies continued at an artificially high mark. What we term 'moral risk' naturally increased and sinkings began. That is our notion how it all came about." ("Suggests Storms Sank Lost Mystery Ships," The New York Times, June 24, 1921.)