INTERVIEW WITH MR. R. M. SIMPSON.

Evening Post, Volume LXVIII, Issue LXVIII, 3 November 1904, Page 6

INTERVIEW WITH MR. R. M. SIMPSON.

THE MONEY MARKET. STATE FIRE INSURANCE. Questions concerning phases of the State Fire Insurance scheme were put by an Evening Post reporter to-day to Mr. R. M. Simpson, business manager of the Phoenix Fire Assurance Company, who on Wednesday afternoon returned to Wellington from a trip through America, England, and the Continent of Europe. Mr. Simpson expressed a doubt as to the State Department's ability to effect reinsurances if it cut the rates down to the lowest possible point, as there would be no inducement remaining for a reinsuring office to do business. There had been a report circulated that Lloyd's was willing to take reinsurance from the Government of New Zealand at rates not less than ten per cent, below those at present levied by companies operating in NewZealand. After all the Parliamentary rhodomontades about reduction this would be small fruit. If the specious assertions made in the Lower House had been true we would have had every fire insurance company in the world here; but this attitude of London underwriters gave a reliable indication of the true position, and showed that the most competent judg«s estimated the margin of profit at a figure not nearly so great as the public believed and members of Parliament alleged. A further proof of this (said Mr. Simpson) was to be found in the facl that apparently not one application for ttie post of general manager of the State Fire Department had been received from managers at present employed in the business and therefore likeliest to know the prospects. Mr. Simpson further opined that the new manager had doubtless recognised the necessity there was for th« State Department to follow established lines and methods, and it was because of this that the progress of establishment so far had not been bo great as the Government and the public anticipated. On the matter of money, Mr. Simpson said that from observations he had made in England, he had formed the opinion that money would continue dear, and might become dearer. The condition was likely to continue lor an indefinite time, and there is no apparent prospect of influx to Australasian Colonies of money for investment. When one , considered that the South African war swallowed £250,000,000 of savings, and that all Europe was being searched for loans by the contestants in the present Far East war, reason for the tendency would be come obvious. They had to get money somewhere, and money always followed where favourable rates and fair security Gffered. Another reason advanced (but on which there was a difference of opinion) was that the amount of profit made in Great Britain now was not equal to that previously obtained. However that might be, there was no doubt t'uat labour troubles and severe competition with foreign manufacturers had driven many industries out of the country; Mr. Simpson saw many eviuences of that, and had confirmation from the observations of others. The trip undertaken by Mr. Simpson, proved to be most enjoyable. He went to America via San Francisco, visited the St. Louis Exposition, and also went through Canada ; voyaged thence to England, and returned to New Zealand by the Suez Canal route and via Australia. Mr. Simpson is in excellent health as a result of his travels.

The reference department of the Central Public Library will be re-opened on Monday, after having been closed ever since the earthquake early in August shook it out of plumb and brought down portions of the platter ceiling, i'he new reference room in a great improvement, 'the plaster ceiling has been replaced with wood, which, in a coat of white paint, relieved with blue, looks light and attractive. The few dim skylights in the middle of tho roof have given place to a conical superstructure, built up from the roof, and made of sections of wood and glass alternately. Thus the light is admitted from each side, and cast down to the reader below. This will be in daytime a valuable auxiliary to the windows. For night reading, the former two clusterb of electric lights (five lamps each), have given place to six pendants of two lamps each. The appearance and lighting of the room are undoubtedly greatly improved. Structurally, the brick wall along the whole of the upper story is being made solid all through ; this amounts almost to a complete renewal, ''"here has been a reduction of the heavy external design, and concrete has been substituted for Oamaru stone. Iron bolts fixed in the wall will add to its strength and holding power when the next shock comes. The work has been done throughout under tho supervision of the City Engineer (Mr. W. H. Morton). Painting, plastering, and electric fitting were done by sub-contract. The monthly meeting of the Surveyors' Institute was held yesterday in the office of the Secretary, the Hon. G. F. Richardson, President, was m the chair. Reports were received from the eub-com-

niittee set up lo enquire into the printing of the journal of the Institute, and from the deputation set up at last meeting to interview the Registrar-Genera) of Lands iv respect to the practice of permitting transfers of land to be registered where the plan on the transfer is unsupported by a survey. It was decided to nold the annual meeting in Wellington on the 18th January next, and to invite members to contribute papers to be read thereat. On the ballot being taken to determine the three retiring members of the Council, who are, however, eligible for reelecfcion, the lot fell upon. Messrs. C. W. Hursthouse, J. W. A. Marchant, and A. P. Mason. On this occasion the Presi-' dent also retires in accordance with the rules. It was decided to again nominate the Hon. G. F. Richardson and Mr. T. Ward to represent the Institute on tfee Surveyors' Board. • Messrs. Harcourt and Co. diaw attention to their auction sale at their rooms, 48, Lambton-quay, to-morrow, at 11 a.m., of religious works, on account of the estate | of tho late Rev. C. S. Ogg ; alßo on account of other vendors a large quantity of medical books and general literature and some revolvers, rifles, cartridges, and a lot of carpenters' tools.