CORONATION EXHIBITION.

Dominion, Volume 4, Issue 1099, 11 April 1911, Page 4

CORONATION EXHIBITION.

THE INSURANCE RATES.

•People connected with tho management of the New Zealand Coronation Exhibition aro a good deal perturbed over tho question of insurance, not only on tho buildings, but on tho goods stored within. the buildings during tue progress of tbo exhibition. Tho vaiuo of "J"' and "U" stores and plant is assessed by tho Wellington Harbour Board at £43,000, and at present they are covered to tlio extent cf X' 22,000. The board, in lending tho stores to tho Industrial Association lor tho purposes of an exhibition, has exacted tnat the buildings shall bo insured up to their lull insurable value, over and abovo tho amount for which they havo been covered by the board—possibly another .£2o,ooo—and, in addition, tho underwriters ask for an extra s'per cent, oil the JE22.000 risk held by the board ior tho three months covering tho exhibition. Tho extra sum for which the buildings will have to be insured will bo at the rata of Gs. Bd. per cent, for the three months, so that there must be a heavy insuranco bill to pay in any case. In tho case of the exhibitors tho rate for covering goods placed in the "J" and "U" sheds for exhibition has been fixed by the Wellington Underwriters' Association at 10s. per cent, for tho three months, which is equivalent to a £2 per annum rate. This is considered by those interested to be "a bit over the odds," and it is understood that an effort is io bo made to cut .down the rato by half, so that they will not be driven into taking a risk that should certainly not bo taken. The provision against tiro will bo entirely satisfactory. In addition to tho ordinary municipal water service, there will bo' tho Harbour Board's own complete system; "Minimax" firo extinguishers will be placed in convenient places round the walls; and there will be Vatclimcn parading the buildings day and night on the look-out for anything in the way of fire. The insurance rates will bo discussed at a meeting of the General Committee to be held at the Wellington Industrial Association's rooms this evening. ■