THE INSURANCE BOARD AND THE SHERA PROPERTY.

New Zealand Herald, Volume XXIII, Issue 7567, 20 February 1886, Page 5

THE INSURANCE BOARD AND THE SHERA PROPERTY.

A few days ago we gave an abstract, telegraphed from Wellington, of a letter published by- Mr. G. Fisher, relative to some proceedings of the Insurance Board. We now give in exttnso that portion of the letter referring to the Shera purchase : — " Some time, toward the end of February, 1835, the Deputy-Chairman (Mr. Tole) announced quite suddenly at the end of a Board meeting that Sir Julius Vogel, who was then in Auckland, had sent through him & request that two members of the Board—Messrs. Shannon and Graham— should be sent to Auckland to inspect Shera's property, which had been offered to him for £22,000. This proposition was so unusual and bo extraordinary that it struck me with very great surprise. No warning, no question previously submitted as to whether it was or was not desirable to purchase property in Auckland. Send two members to Auckland to inspect Shera'B property I No mention of anybody else's property. Shera's and Shera's only. Well, I said, for the sake of regularity and decorum, left us first pass an abstract resolution affirming that it is desirable to purchase property in Auckland. This was done, and Messrs. Shannon and Graham were requested by resolution to proceed to Auckland to inspect Shera's property, and any other suitable properties which they might discover to be open for tale. It is handling the truth very 'tenderly to say that they 'were seat to Auckland to inspect several properties which were under offer." There were no other properties under offer. Shera'a and Shera's only, was the offer which came through Sir Sir Julius Vogel. Well, for a reason which I will not explain, Mr. Shannon declined to go to Auckland unless I went also, and next day the Board met again specially to pass a resolution requesting me to accompany Messrs. Shannon and Graham. Arrived at Auckland, and having inspected Shera's property, I found it to be, in my opinion, so utterly unsuited to the purposes of the association that I decided at onoe, for my part, to have nothing whatever to do with the purchase, but 1 learned also—l am not a man who travels with his eyes shut—that that wos the property the association would purchase, or none. Wo looked about for other sites, it is true, and when we returned we submitted a list of properties, from amongst which the Board selected Shera's, and the committee, consisting of Shannon, Graham, and Fisher — the * Commissioners' they were derisively called in Auckland, where they were evidently recognised as being on a fool's errand—were instructed or authorised to complete the purchase. I. then declined to act on the committee any longer, Mr. Tola was appointed in my place, and the purchase was completed ; so that if the twin garblers were not previously ' aware that he (Fisher) specially opposed the selection of this particular property when the general question was decided against him,' they know it know, I should also like to explain, if you will kindly allow me to do so, that on my return to Wellington I was very much amused as well as puzzled by the ' chaffy' attitude of one or two jocular members of the Board, who, having heard of my strong objection to the proposed Shera purchase, were constantly, with a' merry twinkle in their eye, meeting me with the quaint, and as it. seemed to me, quite unnecessary phrabe, You've got to have Shera.' At the time I could hardly grasp their humour. I was able to grasp it a little time afterwards. We have got ' Shera' now, as everybody is aware, and what to do with it we hardly know."