MUNICIPAL INSURANCES.

New Zealand Herald, Volume XXIX, Issue 8986, 17 September 1892, Page 3

MUNICIPAL INSURANCES.

The following is a copy of a letter which has been forwarded by Mr. G. S. Graham, attorney and superintendent of " The North German Insurance Company of Hamburg," to the Mayor and Councillors of the City of Auckland .— [copy.] Victoria Arcade, Auckland, September 16,1892. The Mayor and Councillors, City of Auckland. Gentlemen,— am instructed by Mr. G. S. Graham, Attorney and Superintendent of " The North German Fire Insurance Company of Hamburg," to write to you in reference to the reported acceptance by you of a tender for fire insurance largely in excess of the amount of my client's tender on behalf of the abovenamed company. lam instructed by Mr. Graham to protest against the acceptance by you of the higher tenders which you are reported to have accepted. Unless you have some satisfactory reasons to justify you, 1 need scarcely point out that you would be abusing your powers as trustees of the funds of the ratepayers if you unnecessarily disburse a greater sum for insurance than that mentioned in my client's tender of £126 6s 9d for the whole of the Council property. lam instructed to ask you to furnish me at your earliest convenience with the reasons which prompted you to ignore the tender of the North German Company, and to accept one considerably higher. As you are aware, the North German Company is one of the strongest in the world, and the resources at the call of the local superintendent—Mr. Grahamare very large. Under these circumstances, your action in rejecting its tender—though the lowest— very extraordinary. I would add that it is the intention of Mr. Graham (who is, 1 may mention, a ratepayer of this city) to take proceedings to prevent any unnecessary squandering of the ratepayers' money for fire insurance, should you persist after this protest in accepting the high tenders.—l have the honour to be, gentlemen, your obedient servant, W. J. Napier. [advertisement.