Meeting of Insurers

Feilding Star, Volume VII, Issue 73, 28 November 1885, Page 2

Meeting of Insurers

The meeting was called hy Mr J. C. Thompson to take the necessary steps to continue the agitation commenced some time ago to obtain some reduction in the rates of insurance in this part of the district and to put us a level with insurers in other parts of the colony. Mr Thompson was voted to the chair. He gave a brief resume of what had been done in the past and accounted for the want of success which had followed their action, but for which those connected with the agitation could not blame themselves. Letters had been written to gentlemen in the other colonies, but had not been replied to, and the secretary of the Palmerston committee had withdrawn his services and " joined the enemy." If we were going to continue the struggle we must organise, we should take a leaf out of the hook of the insurance offices in that direction. He was informed. that the insurance companies had determined to raise the rates north of Bangitikei. It might therefore be expected that the insurers in Wanganui would again rise against this tyranny, and assisted by us in the south, a league might be formed to act in concert. He spoke of, the new Insurance Company about to be formed in Sydney to break down the combination there, and to obtain local concessions. We might do the same here. Mention had been made to him of the fact that few if any of the New Zealand Insurance Companies had paid dividends this year. This was not caused by the losses by fire, but by the absorption of their revenues in heavy commissions to agents, extravagance in the general management of their business, and squandering money in the erection of palatial buildings for offices in the large towns of the colony. After some discussion it was resolved, That Mr Loudon be communicated with in Sydney, asking him to furnish full particulars anent the proposed new company there, and if possible, induce them to extend their operations to New Zealand. It was also resolved, That the chairman write to Mr Park in Palmerston and Mr Paul in Wanganui inviting these gentleman to assist in forming branches of a league in their respective townships. A vote of thanks to the chairman terminated the proceedings.