AN INSURANCE COMPANY WITHDRAWS.

Otago Witness, Issue 2677, 5 July 1905, Page 27

AN INSURANCE COMPANY WITHDRAWS.

WELLINGTON, July 1.

The Law, Union, and Crown Insurance -Company as withdrawing from business in the colony. The reason given is that the company takes serious exception to the policy of reducing rates with which the associated insurance companies have met the State competition, and declines to follow it.

The business of the Law, Union, and Crown Insurance Company, which is retiring: from the colony as. the result of State interference with the business, has been taken over by tho Alliance Assurance Company. This is the second company which has withdrawn sinoe the passing of the State Fire Insurance Bill, both having been absorbed, as far as this colony is concerned, by the Alliance.

A Canadian telegram published in the San Francisco papers states that while the Canadian Government cruiser Vigilant was patrolling Lake Erie, off Pel&e Island, on June 7, and in the- neighbourhood of tho international boundary, it sighted the fishing ing Grace M., of Lorraine, which is alleged to have be-en in Canadian waters. Tho Vigilant immediately gave chase and showed signals to stop and surrender. Tho tug taking no notice, Captain Dunn, of the Vigilant, fired a shot across (he bow of the Grace M. She kept on and made a dash for American waters. Tlie cruiser fired again, but the tug refused to stop. Before she finally gave in Captain Dunn fired five shots at the American vessel. Coming to close quarters the Grace M. made further attempts to escape being captured, but when within hailing distance of the Government cruiser she turned around to yield, and the two vessels came together The tug turned turtle and sank.