THE NEW CLOCK.

Auckland Star, Volume XLIX, Issue 127, 29 May 1918, Page 3

THE NEW CLOCK.

SOME INTERESTING HISTORY.

Several hundred shareholders in the Xciv Zealand Insurance Company attended the ceremony oi- starting the new clock yesterday afternoon, having at the same time an opportunity of inspecting the company's handsome new building. The spacious board-room and several other rooms utilised for the reception of the guests were decorated tastefully with flowers, greenery, and bunting, and in the gallerj" a string band discoursed music. The chairman of directors (Mr. Henry Horton) prefaced the ceremony of starting the clock by the Mayor (Mr. J. H. Gunson) by extending a welcome to the guests and reviewing the history of the company eince it was started by a number of Auckland business men nearly 60 years ago. Beginning with a paid-up capital of less tUan £5000, the company accepted its first risks in June, 1859, the premium income of the first year's operations being £3729, which had steadily grown till its annual premium income was now well over £1,000,000, while the paid-up capital had increased from £4845 to £000,000. In touching upon some of the landmarks in the history of the company Mr. Horton referred to the San Francisco disaster in 1000, on which occasion the company was one of the first to start paying claims, an amount of £285.000 beint! paid in settlement without a 6ingle lawsuit. As a result of this prompt and complete settlement the Americans assessed it as a "dollar for dollar" office, and this esteem was well maintained amongst Americans to-day. (Applause.) After paving a tribute to the qualities of the chief executive officers and various staffs, which had all worked loyally for the success of the company, the chairman made acknowledgments to the p.rchitects of the new biiilrlinz, Meters. Hogzar.l, Prouso, and Oumaer, and to the superintending contractor, Mr. Grevatt, for the many difficulties overcome in completing the structure at the present time.

The Mayor, before pressing the button which released the clock mechanism and started the big bracket clock in Queen Street and the eighteen lesser ones throughout the buildinpr, explained that the old town clock, which had craeed the front of the company'e building for so many years, was now doing good service at Featherston camp. The new agreement, by which the company had generously undertaken to provide and maintain the clock at no cost to the city, was signed in January, 1910, and he expressed the hope that the fine timepiece erected would prove worthy of the generosity of the company, and would serve the city as well a≤ had the old one. (Applause.)

After the clock system had been 1 started Mr. W. G. Prouse, on behalf of the architects, presented Mr. Gunson with the starting switch as a souvenir of the occasion. The clock, it is interesting to know, was made by the Synchronomo Company of London from designs supplied by the architects of the building, an,l weighs 30owt, while the dial is 6ft in diameter and Sft over all.