LOSING GROUND. Dropping to leeward while working; the driftage.
LOSS. Total loss is the insurance recovered under peril, according to
the invoice price of the goods when embarked, together with the premium
of insurance. Partial loss upon either ship or goods, is that proportion
of the prime cost which is equal to the diminution in value occasioned
by the damage. (_See_ INSURANCE.)
LOSSAN. A Manx or Erse term for the luminosity of the sea.
LOST. The state of being foundered or cast away; said of a ship when she
has either sunk, or been beat to pieces by the violence of the sea.
LOST DAY. The day which is lost in circumnavigating the globe to the
westward, by making each day a little more than twenty-four hours long.
(_See_ GAINED DAY.)
LOST HER WAY. When the buoy is streamed, and all is ready for dropping
the anchor.
LOST! LOST! When a whale _flukes_, _dives_, or takes tail up to
"_running_," and the boats have no chance in chasing.
LOST OR NOT LOST. A phrase originally inserted in English policies of
insurance, in cases where a loss was already apprehended. It is now
continued by usage, and is held not to make the contract a wager, nor
more hazardous.
LOT. The abbreviation of allotment, or allowance to wife or mother.
(_See_ ALLOTMENT.)
LOTMAN. An old term for pirate.
LOUGH. _See_ LOCH.
LOUND. Calm, out of wind.
LOW. An old term for a small hill or eminence.