Correspondence.

Star (Christchurch), Issue 64, 28 July 1868, Page 3

Correspondence.

INSURANCE RATES, ro Tina kditou ov tiiio btaui Win,— l'orinlt mo to nmko ono or two ronmrkii on your leading article In the Star of ilio 2/Hli instant, All interested In the welfare of local instltiillonH niiiHt 1)0 imlubtcil to you for bringing ho prominently before Mm public (ho continued »MCcca» of tho Now Zealand lurturance Company, I am miro, however, tlmt tho dlrcotoi'M and (iharoholdorfl of Unit UiHtltutlon liavo no deHlro, and yon cun have no intercut, io mako It appear that thin huccchh 1m greater than It roivlly In, In rcPci'i'litg (o Iho lw?<uicc at (.lio avcdlt of tlui Profit and Lo«h Account, yon «ay, "It niUHt bo romombored that thin return in tho roHull ot bnnincmi ilono during the last halfyear." That In not tho fact, If yon will turn to tho balunee-Hhect ajjponded to tho report you will there find that by far tho greulor portion of that credit In brought forward from the preceding half-year, That being the ease, your calculation oil tho high return of tho capital of tho company for tho piwl half-year In altogether erroneouH. I nuiHt also a«k pormlMHlon to put you right regarding tho disparity between tno Auckland and Chrlslehnreh ratea, about which you flcom still to liavo grave doubUt, I know both AueWivnd ft»aClu'lHUhurch ; audlUuow

Ojo rates of insurance in both places, nml I can assure you that Mr Kussoll does not talk in a " loose way" on tlio subject. It is a faot that there arc risks in Auckland paying 100 per ccnt,,lcss hazardous to all Appearance than risks In Chrlstchurch paying 25 ami 30 per cent,, ami even now the rates are not any. thing li/ia uniform. T ho Christchurch risks now paying <J/i and BO would, in Auckland, before the new tariff, have paid C 5, 80, and 100 per cent, The company pity* that rate to another office for some building* forming part of a block o£ small but well occupied Mouses not half the length of High street, between Hereford and Caslicl streets. I know of no such rates in Chrlstchurch,wherc there arc much moro hazardous risks than the one I refer to, From tho latter part of your article, I proRumo you have not been in Auckland for Homo years. I shall not, however, follow you further on the subject, «w it h far from my wish to compare Chrlstehuroh unfavourably with Auckland, either as regards its means for extinguishing fires, tho construction of its buildings, or the character of its people, My object in making these remarks has not boon to offer a further defence of tho now rates, but simply to Inform you that, rightly or wrongly, there has been, and still is, v great disparity between tho rates of insurance on block risks in Auckland and Chrtatchurch, Your obedient servant, DAVID CRAIG. July 27.