WELLINGTON ITEMS.
[Peb Pbesb Association. j _* WELLINGTON, Apbil 30. . The City Council, in reply to a letter from the Publio Works Department regarding the Te Aro goods ehed, determined to adhere to the resolution of the joint committee with the Harbour -Board opposing the construction of the shed, and demanding compensation if land is taken for the purpose.
The triennial valuation of the-Govern-ment Insurance Department has been made, this time locally,, upon thiß* Tprincipleß adopted by English actuaries. It has only taken four months to complete. The Insurance- Fund at the end of 1893, after adding £18,000 to the Fluctuation Fund, amounted to £2,128,590, and the net liability to £1,938,590, leaving a surplus of £190,000.; Ofithis £1-0,000 will be/divided in bonuses and £50,000 placed to reserve. The expense rate has fallen during the last three years, and the new business was greater during 1893 than for some years, the amount being a little over £740,000. The net increase of new business over discontinuances shows a marked advance upon 1892. The ratio ef expenses of management shows a decrease of one-half per cent.
An important point was decided by Mr Martin, S.M., in the Magistrate's Court to-day, affecting English incorporated companies trading in New Zealand. The case was one in which Birnbaum and Co., Limited, waterproof manufacturers, of London, Melbourne and Wellington, Bued G. W. Smart, pawnbroker, of Manners Street, for £30 odd, being the value of waterproof coats, &c., come time ago pawned by Mr Birnbaum, jun., then local manager for the company. It was contended by Mr Skerxitt that the case must fall through, as a power of attorney empowering Messrs Peters and Birnbaum, jun., local representatives of the' firm, when the goods referred to, were -pawned, yi&s void, Mr Birnbaum having left the colony without his power of attorney having been delegated to his Successor. - This objection Mr Martin held to he fatal ta the plaintiffs. ""'.
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https://paperspast.natlib.govt.nz/newspapers/TS18940501.2.7
Bibliographic details
Star (Christchurch), Issue 4939, 1 May 1894, Page 1
Word Count
318WELLINGTON ITEMS. Star (Christchurch), Issue 4939, 1 May 1894, Page 1
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