The Daily Telegraph. FRIDAY, MAY 21, 1886.

Daily Telegraph (Napier), Issue 4615, 21 May 1886, Page 2

The Daily Telegraph. FRIDAY, MAY 21, 1886.

Last night was the second time on which the policy-holders in the Government Life Insurance Association have assembled in Napier to discuss matters of importance concerning that institution. If anything, last night's meeting was more important than when the policy-holders met to condemn Mr Driver's appointment. Especial value must be attached to that protest as it was the first occasion on which the policyholders throughout the colony, following each other at the several centres of population, raised their voice against the management of the association. It was the first expression of want of confidence in the Board, and last uight's meoting confirmed the vote of condemnation that was then passed. It augurs well for the association that its members are not disheartened by tho contempt with which the_ Board treated their opinion on the appointment of Mr Driver. That appointment was condemned from one end of the colony to the other, but it made no difference to the Board. And, as if to show its utter indifference to the wishes of the policy-holders, and its disregard of those principleswhichusually govern appointments to business positions requiring experience in those occupying them, Mr Speight has recently been placed in the charge of tho Auckland agency. Mr Speight's was quite as much a political appointment as was that of Mr Driver's. Every day it is becoming more and more apparent that unless Ministerial influence is absolutely precluded from the_ administration of the association the institution can never be worked as a business, and therefore never can be the success that it should be. The disclosures made last night by Mr Shannon threw a glare of light on transactions of which policyholders previously had but a glimmering knowledge. It was shown that Sir Julius Vogel, by reason primarily of his Ministerial position enabling him to dispense or withhold patronase, and secondly from his natural force of character, was the autocrat of tho Board, but it was not so well known how autocratically he ruled. Like the Roman Centurion he says "do this," and the Board has to do it in spite of its knowledge that it is a mischievous thing to do. Hence it can well be understood how galling Mr Shannon's position must have been. To other members of tho Board who have not had the advantage of his business training, long- experience, and thorough acquaintance with those principles which command success in commerce, it might not have been so distasteful to sco ducks and drakes made of the funds of the association; in purchasing needless properties at more than their value. Mr Shannon could not stand that sort of thing, and in throwing up his nominated seat and seeking election he affords the policy-holders the best assurance of his sincerity and desire to promote the best interests of the institution.