MYSTERIOUS FIRE.

Hokitika Guardian, 6 May 1924, Page 4

MYSTERIOUS FIRE.

WOOLSTOX TANNER lES

SENSATION AI. EVIDENCE AT CORONER’S INQUIRY.

CHRISTCHURCH, May 1

.Mr Wyverii Wilson, S.M., coroner, held an inquiry to-day into the fire which, occurred at the Woolston Tanneries of April 10th, when heavy damage was done.

Rupert George Whiteman, who left the building at'S.l3o. p.m., said everything was safe. He had not heen smoking. John Hopping, uightwatelunan. said he was smoking on the night o! the fire, but not in the upstairs portion of tlie building. •‘A DISASTROUS RUN/’ M. J. Russell, manager of the London and Lancashire Insurance Company, said that although his company had had a very disastrous run with i. e Woc.lston Tanneries, they recognised that this was iust a risk-inciden-tal to the business of fellmongering, and they were quite prepared to continue to lover the company’s premises. Although his company held the policies, part of Litem were covered by reinsurance, and some oi the reinsuringl companies had relnsed to accept further risk in conuoection with the tanneries. _ ! Til I IKK KIRKS IN I’OUR YKARS. M. Ollivier, managing director of the Woo!si on Tanneries, Ltd., said that the company had had three ores within the past four years. lie thought that the Hereford street (ire was caused liv a cigarette butt being thrown amongst some loose leather, but he had no idea how either hro at the tanneries occurred. \\ itness put in a return showing that the value of Ihe stock held by the company on September IHltli, 102 U. was U'212,000, whilst on September With, 1023, the value was dltiJlCl).

Tin* coroner: I Ins tin* business of the rumualiy decreased, tlieii ?—T\ o l aw brought mir stocks into line with the demand.

That is not exactly an answer to inv question, lias the business done bv the company decreased ‘i —Ves. ( hiel'-Detectivc liibson : Are the insurances adjusted to meet decreases iu stock “--Ves. They are revised at j the end of each financial year. The chief-detective: What is the iinnncinl position of the company;'— During our netiod in business we have lost money. •IiKADV ( ASII UK GRKAT VAl.Ulv’ The coroner: The corollary from thitt is that ready cash is of great value. The witness said it did not lollow that re.-idv cash is a necessity, though it is welcome to everyone. Continuing, witness said that otic icasoit why they had not made money was because, lor political reasons, the company Ind been subjected to persecution. lie did not want anything about that iu the newspapers at present. but lie would make a public statement later.

The coroner: Then you had better not -ay anything about it hire. ’Hie chief-detective: To put it shortly. you have a claim against the (lovei limellt '- - Ves. And that explain- your !...- . Ves. The coroner: Does that explain the lalling-oii in business;'—The explanation lies in the general londitimi oi the world's tiro'.e plus the posiliin we u ere landed in by the Government. TilK LAST Kl l< K. Tin:- chief-ilete tive: At the last lire tit tile t.inneiies tin you ron-dder you were und-r-iu-uivd r- I iidoubt city. An! a t the tire in January I' Ves. We must have been under-insured or else the insurance ci.-mmtuy would have replaced the buildings, and lhe\ a:c not tloiag that. When the inquiry u.a rcsttmrd alter !mu!i, rir Uili-ier iv.it m a statement. Htov.lng that the stock in the building destroyed by lire on April DUb v. as valued at L'31,171. and it v. as ii'.sii-etl for CSM.tf.:l 1. 'l it - company's poiicy was to he a.s w •!! ill sure.l vs possible. Witness put in a hook ecu:.lining a. copy of tln? company's la-t hnlnnee-r.heet nres-ented to file dirretors, and a copy of one pre•lliad to tin.' shareholders. < hiei’-Detoetive (tih-on: Is flic hal- :• ttcc-sheet audited I'— Ves. An niii'ii verdict was returned.