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THE COMMERCE-STREET FIRE.

■ £> INSURANCE OFFICES AFFECTED.

The scene of the disastrous fire ii£' Commerce and Custom Streets was yesterday an attraction for a large number of persons. In the cellars of Messrs. Nathan's bond and in other portions of the ruins the fire was still smouldering, and it will be a. day or so before the debris will be cool enough to enable workmen to be wit on to clear it away. During the day the telegraph authorities had a gang of men engaged restoring the telephone lines that were torn down by the fall of masonry in Commerce-street. With reference to the complaints as to the neglect of the Central office to answer several attempts that were made to get communication with the Fire Brigade Station on the morning of the fire, we understand that inquiries are being made into the matter.^ From inquiries made at the various insurance offices doing business in Auckland, the following particulars of the risks held and losses sustained were gathered: — The Norwich Union had £51,335 on Messrs. L. D. Nathan and Co.'s bond and contents, which was, however, heavily reinsured. Judging from the figures obtained from the offices with whom the Norwich Union lias reinsured the company's loss will be about £10,000. The New Zealand Insurance Company s gross lines were as follows : —A. Yates and Co., building, £4000; W. S. Laurie and Co., building £2000, and stock £2000; F. Tucker, stock, £1250 ; Brown and Geddes, building, £1166; J. E. Wheeler, stock, $1000 : total, £11,416. Allowing for partial losses and reinsurances the company's net loss will be about £5500. The Phoenix office held a risk ox £6500 over the American; Tobacco Company's stock, half of which amount was reinsured; £1400 on Bond and Bell's stock, and £500 on Owen and Co.'s stock. The company's loss is about £5350. The National of Nev, Zealand lost £4600, made up as under: Reinsurance of £2500 from the Norwich Union, on Nathan's bond; £1700 on G. W. Owen and Co.'s building; and £400 on T. Macky's stock. ; The Commercial Union was involved to the extent of £3250, of which £2500 was a reinsurance from the Norwich Union, and £750 from the Phoenix.

The Liverpool, London, and Globe held risks amounting to £3000, of which £2500 was r reinsurance from the Norwich Union, and £500 reinsurance from the Phoenix, on the American Tobacco Company's stock. The Northern Assurance Company's net losses were about £2200. The risks they held were £1600 on Heather Brothers' and 7. Macky and Co.'s stocks, £500 reinsurance from .the Phoenix on the American Tobacco Company's stock, and £500 reinsurance from the Australian Alliance on Nathan's bond.

The Australian Alliance office held £2500 reinsurance on Nathan's bond, and £370 on Bond and Bell's stock, but- had a reinsurance of £500 with the Northern Assurance, making the net loss £2370. The South British, in addition to holding a reinsurance of £2500 from the Norwich Union, had £200 on some tea, owned by Colgrove and Co., and stored in Nathan's bond, making a total loss of £2700. The Victoria Insurance Company held a £2500 reinsurance from the Norwich Union, and also a risk over Clarke and Maddox's stock for £500, but they had £1000 reinsured with the Magdeburg, making a net loss of £2000, The Imperial, Manchester, North British and Mercantile, North Queensland, Royal Exchange. Sun, and Law, Union, and Crown each held a £2500 reinsurance from the Norwich Union.

The London and Lancashire lost £1500, a reinsmancf* on Nathan's bond.

The Magdeburg, in addition to the £1000 reinsurance from the Victoria, held a risk of £200 over some merchandise owned by P. Hayman and Co., and stored in Nathan's bond. Hayman's goods, with the exception of £10 worth, were removed a few days before the fire. The Standard office was unable to give any particulars of its risks and losses yesterday, and the Alliance office declined to do so. It is stated that the Alliance held a reinsurance from the Norwich Union. The Guardian, Royal, and United offices were not affected by the fire. "

Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/NZH19010115.2.52

Bibliographic details

New Zealand Herald, Volume XXXVIII, Issue 11551, 15 January 1901, Page 6

Word Count
678

THE COMMERCE-STREET FIRE. New Zealand Herald, Volume XXXVIII, Issue 11551, 15 January 1901, Page 6

THE COMMERCE-STREET FIRE. New Zealand Herald, Volume XXXVIII, Issue 11551, 15 January 1901, Page 6

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