A NEW INSURANCE COMPANY.

Evening Star, Issue 3339, 1 November 1873, Page 3

A NEW INSURANCE COMPANY.

To the Editor. I have no doubt I am like a great many more persons, disgusted and disappointed atthe paltry insignificantly few shares allotted to me by the Directors of the National Insurance Company. For the information of those who have not yet heard it, I am informed, and on good authority, that each of the Directors of this socalled National Company reserved the option of taking to themselves only 350 shares each, together with a bonus of 150 shares. For what? you will ask. Why, their trouble of course—exclusive of a guinea as a fee for every meeting they attend. Now, sir, this they may term legal. That we cannot dispute ; but can they, or any one with conscience, call it justice to those from whom they would expect support. I say it is a downright insult and a shame, and that it is the duty of every person who has or who has not been so treated and it is in their power, to treat them in a manner that they richly deserve, and that would be by the forming of another company, which would receive the support of every business man in Dunedin and through all the Colony —except the present Directors of the National Company, which could be done without. A new company would be an undoubted success. Let the retail merchants of this City think for one moment who are the chief supporters of the insurance companies. Why, without a doubt, they are themselves. Thou why allow themselves to be trampled on in the manner they are by these would-be leading merchants ? I say at once Jet us have another company, one of which the directors would be men of the stamp that won d scern to take advantage of their position, hut would be contented to take their ratio of shares the same as any other person. . , . I hope the matter will be at once taken up, and not allowed to fall until we see the prospectus of a new company shining in your columns. Thanking you for your space, I am&c,, An Insurer. Dunedin, Nov. 1.