FIRE INSURANCE WAR.

Gisborne Times, Volume XVII, Issue 1397, 7 March 1905, Page 3

FIRE INSURANCE WAR.

' (Per Press 'Association.) Dunedin, last night. The chairman, Mr John Reid, at the annual meeting of the Standard Insurance Company this afternoon, said they had now to face competition with the State Fire Department. This had involved a very considerable reduction of rates, which wero probably now below paying point. As the State could no more afford to do business at a loss than the companies, and it must come to this sooner or later, in the meantime the Standard would strenu-

ousiy protect its valuable business connec'ti: tioas,' which “had " taken many years to build upland would no doubt be able to hold its cgvn. Its business was not confined to N-fsP Zealand, nor to fire business, but shareht^M 81,8 who looked for dividends must co-ox® cata with the directors in ensuring thijp- largest measure of support for their dm 1 company. ■ . .. • . . - ■■ Later. ■ Ab the r ** oßilD & °f the Standard Insur- ' • aneo Grv *l*o report was adopted. Messrs V and Joel, the retiring dirent;^ 8 ’ were r °- oleot ed- In ackoowledgaf thanks to the directors and [on. T. Fergus, referring to the I■ State Fire Insurance, said the certain section of legislators So be wherever they found an doing any good for himself and ly for tho colony, it was about hat individual was knocked on An extraordinary meeting was jr the memorandum of - associate the company to carry on ss of accident insurance. .