The Star. MONDAY, JULY 13, 1868.

Star (Christchurch), Issue 51, 13 July 1868, Page 2

The Star. MONDAY, JULY 13, 1868.

It 18 highly probnblo fclint tho coin. binod liiauraneo Companies in Christolmroli, like tho«o in Atolbourno under nimilar oiroumuliuicofl, will bo brought to boo and ncknowlodgo tho orror of thoir ways. But ifc will not do for tho public to bo languid in tho mattoi*. It in not enough to got up ft requisition nuking another Company to oatablish an ngoney horo, and inoioly invito tho public to Bi'gn it, Tho promotora of tho inovoinoni/ muHt know well onough tlml; tho public roquiros onorgotic Htirrinp; up, ovon for its own bonoflt.' It would, bo well, thoreforo, if a littlo oxtra oxortion woro mado to securo oignaturoa to tho requisition wo hnvo flnokon of. Bparing in mind tho fact that it hue not" 'boon aotivoly'piiahed, tho roquiuilioti hn« boon numerously and inlluontially signed. But ifc is, wo think, quito posaiblo to got a largo uumboi* of iiduitional gignnturcs. ; A fow days ago, wo published n paragraph wljowing in what oflicoa, to what atnouut, and afc what ratos, tho (Jovopjimoufc property is insured, It oppoara thfti • tho Q>vowimont Ivavo insurod tho public proporfcy to tho oxtonfc of aboufc £51,000, and fchnfc thoy must bo paying a vory considorablo fl\un Annually in tho bliauq of premiumsi Now, two quoatiojia euggoat fchomßolvcfl in roforonco to this mattor. Would it not bo advisablo for tho Qovorninont to invito tondors, in Australia nnd oloHOwhoro, for insuring tho properly of tho. public P That ifc could bo done moro choaply and as eafoly, in this manner, we have no doubt, Tho boooikl qnoation ia ono which applies to all proporfcy insurod in tho province, whether public or private. It fa Biinply thin— would it not be well fco mftJto i\ cnroful oxaminntion and to find out whofchor agoo.d deal might not bo saved by ra-valuing proporty ? With regard to tho Government insurances, especially, ifc i» fair and very proper to onquiro whofchor wo aro not paying say 25a por eonfc on a building which might hiwe boen fairly valued at JBISOO ( two or th'roo yearn ago, but which ia nob now worth moro than £1000. Wo aro convincod somothing inighfc bo saved, and ought to bo savod in fchto way, to tho province And, now that tho public nro callod on to pay such exorbitant promiums, it would bo well for them to consiiler whothor thoir buildings and other proporty, aro as valuable now aa thoy wore when tho policy was of Footed. Thoro can bo no doubt that tho value of proporty has dofcorioratod vory considerably, whilo tho risk of iiro hna also diminished. Tho insuranco com* panics appear to us to bo drawing an onormoua rovonuo in two ways — proporfcy is. ovor«valuod in. many instancoa, and tho ratos aro far boyond what thoy ought to be, It may bo said that the insurance companies will f thomflolvoo look aftor tho ovor-valuationi Woro tho risk of flro abovo tho avorago, thoro is no doubt- thoy would vory sharply. But; when fcho riak is considerably under tho avorago. thoro is no business noces* sity for thoir doing so. Wo adviso tbo,

public to look thoroughly into tliia tnuttor.