FIRE INSURANCE.

Star (Christchurch), Issue 43, 3 July 1868, Page 2

FIRE INSURANCE.

' »■ — In a telegram from Melbourne, published in our issue of yesterday, It was announced that tho National Insurance Company bad been flouted. It may interest our readers to know that this is a new Melbourne company, got up by local enterprise ns a protection against a combination slmlltu to tliat which Christchurch lusun-N have <o much reason to complain of. Tho following letter, from a recent number of iho Argus, will bo read with intt-rc-it. Wo direct special attention : to the tabic, more particularly to tho second ohuis of riika j — At a timo whon a new oompany is being i brought beforo, tho public, upon tbe grounds f that tho rates at present charged are execa- f sive, and when those connected with or \

Interested ln tho existing companies aro making Overy oxorllon to provont tbo now company from boing ostablitdiod/ It may not ho uninteresting lo compare tho rates at prcnont current In Victoria with thoso current In Now- Bouth Wales. As a largo Insurer, I hftvo takon tho trouble to mako inquirion in Bydnoyon this mibjcct, and tbo following Is a fair comparison :—

Tbo nbovo comparison Is mado moro favourable to tho Melbourne companies, sh I quote, . In most Instances, only -thole, minimum rates. Tbo marked dl/fcroneo , botweon tho rates flhown abovo demonstrates ono of two things, vlx,— either that tho Now South Wales comEanlos are working, not only without pro/it, ut at a heavy loss, or that tho Molboumo companies stand convicted of entering Into an, inlaultous combination to cliargo execsBiro rates, That tho former Is not tho caso in proved by tho faot, that a, combination of a similar character, but muoh moro moderate In degree, which tho' Sydney companies entorcd Into in May, 1807, only continued In operation for two montlifl and was thon auan. donod. Whon wo romambor tho Immense •advantage whioh tlio Van Yean wator prossurei given Melbourne ovor Sydney, tho difference. In rates becomes moro apparent, | Tbo Melbourne companies havo entered: Into this llW udged and badly-arranged In-! creased tariff, under tho Impression that tbo! flUblfo would quietly submit to any dogroo of ncroasa whiah thoy might 01100110 to Impose Thoy wonld linton to no romonstranco from Insurers j and, ns an inovltablo result, tho •latter havo determined to fitart the new company, and I trust the public will support them both an insurers ami shareholders, for lam thoroughly assured thnt it's boing fionupported will, cro long, havo tho oiVcct of reducing rates to their legitimate lovcl— possibly not,' as to some classes of i Isks, so low as formerly, 1 but to nueh an avorngo as will bo fair towarun tho Insured and yot no romunoratlvo to shareholders, Tbo lmportanoo of tbo nubjcot to tho publio gonorally iv my apology for anklng your insertion of thin lottor, i i iii..ihiiiiiiiii.i»iin|.iii(iirt

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