HARBOR BOARD INSURANCES.
TO THE KDITOE. Sir, —My attention has been called to the account of the monthly meeting of the. Otago Harbor Board published in your issue of Juno 30 last. I noto that, according to tho published proceedings, (ho resolution that tho board’s insurances should bo placed with British and local offices was rescinded, and ono passed placing tho whole of the business with the local companies and tho Stale Eire Department. I regret-this invidious discrimination on tho part of the board. Some of tho British insurance companies aro largo holders of debenture stock in Now Zealand harbor boards and municipalities; at least one British company I know of is a considerable holder of Dunedin Harbor Board debentures. It Is tho policy of British insurance companies to invest largely in colonial securities, and hostile action such as that evinced by the Otago Harbor Board is not calculated to encourage such a policy.—l am etc., British ConrANi*. Wellington, July 20.
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Evening Star, Issue 18336, 25 July 1923, Page 4
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161HARBOR BOARD INSURANCES. Evening Star, Issue 18336, 25 July 1923, Page 4
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