REDUCTION OF RATES.

Auckland Star, Volume XXXVI, Issue 29, 3 February 1905, Page 3

REDUCTION OF RATES.

' (By Telegraph—Own Correspondent) CHUrSTCHURGH. this day. The representatives of fire insurance companies in Christchurcfi will decline to take the public into their confidence. The chairman of the Underwriters' Association states that he has been definitely instructed not to supply any information whatever to the newspapers, and the heads of the various offices adopt the same attitude. Besides the reduction of 33 1-3 per cent, in class W, "which iu-ehides ordinary dwellings, chnTehes, banks, offices, libraries, private hospitals, schools, universities, and so on, there is a reduction of 10 per cent, on wholesale premises, and several wholesale warehouses in Christchurch were informed yesterday that the reduced prices were in actual operation. One manager states that the tariff war Trill make a difference in his salary of £200 a year, and as there are a-hout twenty-five other managers in the same position the reduction of salaries in Christehurch alone will ran into thousands. Pie declares that the "cutting" cannot fail to affect the community, as there will be less money spent. Some classes of the community will reap the advantage, but there will be none for the community as a whole, while the low »xtes will induce people to over-insure.