DOMINION ITEMS. INSURANCE COMPANIES

Hokitika Guardian, 25 September 1926, Page 4

DOMINION ITEMS.

INSURANCE COMPANIES

[by TELEQIUriI-—PEE PRESS ASSOCIATION.] A FALL. AUCKLAND, Sept. 24. A medical practitioner, Dr George Redpath, aged 35, appeared to-day for sentence, on a charge of obtaining, with intent to defraud, the sum of I.os from Henry Hainon, by falsely representing that a gramophone was his property and was unencumbered. Senior Detective-Hammond said the accused was a doctor, who had been practising at Henderson, but had fallen through drink. He had been in trouble previously for a similar offence. I here was some talk of his intending to go to Canada. “If the accused could get away to a fresh country, we would help him along the road,” added Detective Hammond. Air Schramm, who appeared for Dr Redpath. stated that the accused suffered greatly from shell shock, sustained during his war service. He had served on four fronts during the war—in Belgium, France, Mesopotamiaand in Palestine—and he had been “blown up” during an air-raid in England. He had been a brilliant man at his profession. Probably it Dr .Redpath was prohibited, it would assist, him. Afr Cutten, S.AI. : “Do you object to a prohibtion order being issued?' Defendant: “ That won’t make muc't difference, sir, I think.” Afr Cutten: “Oh well, it does not really matter. I can issue an order without your consent. You will he convicted and prohibited, and you will also he ordered to come up for sentence within six months. INCOME TAX CASE. WELLINGTON, Sept. 24, - The ease in which C. and A. Ocllin, Timber and Hardware Coy. Ltd., is charged with making false returns to the income tax department took an unexpected turn this morning. After the case had been proceeding for threequarters of an hour, the leading coesel for the company (Sir John Findlav K.C.) asked for a brief adjournment in order to allow him to confer with the other counsel on an important point. AH’ Justice Reed agreed and left the Court. T..liter on the Court was further adjourned until 2.15 o’clock this afternoon when the Court resumed. Sir John Findlay then announced that the ease had been settled. “I desire to state,” said Sir John Findlay, “that the defendant company has agreed with the Crown to withdraw this appeal, as arrangements have been entered into between the Company and the Crown that the defendant eompanv shall pay any sum insufficiently paid as income tax, together with costs, hut while making this arrangement, tho company protests that, notwithstanding the conviction in the Alngistrate’s Court, neither tho Company nor C. C. Odlin. has been guilty of fraud, but they admit their liability for negligence. I apply for leave to withdraw this appeal.’’ Afr Afacasscy: “The Crown treats this as an absolute abandonment of tho appeal. The Magistrate's conviction stands.” Afr Justice Reed: “The only thing this Court can do is to dismiss the appeal.” Afr Alacassey : “I apply for costs.” Afr Justice Reed dismissed the appeal with £25 costs. THEFT CHARGE. WELLINGTON, September 25. Matthew Babbage, native of Czechoslovakia, and fruiterer by trade, was charged with stealing a truck, vahloil at C 3 from Laery and Co. This firm, two years ago bought six hand trucks, two of which were stolen last month. Tho truck was noticed with the red paint showing under the white. ft was traced to Babbage, and the firm claimed it as theirs. Defendant denied the charge, stating he had bought the truck from another firm, and that tfie charge was brought only out of re-' veuge. because he had sued Laery and Co qiiil got the verdict. He produced evidence throwing doubt on the identity of t'-’o new paint. The charge was dismissed.

AND THEIR RELATION TO THE PUBLIC. In discussing problems with prominent politicians’, financial and commercial men, it is not only remarkable lint regrettable to -find a lack of concise :knowledge existing in regard to. the practice and aims of insurance companies in the conduct of their business. This ignorance is obviously accentuated in the case of t'ho ordinary citizen or of “the man in the street,” With those, however, whose very business existence, and frequently solvency, depends on indemnity from an insurance company, it is.strange to find not only erroneous and distorted ideas but very often marked antagonism to the institutions eacrying on the business, whether t’key be the State or the Associated Offices, it- is therefore the intention to publish from time to time articles on various insurance subjects whit h should not only he of an educational value, but which it is trusted will dispel much of Fie misconception that exists. Insurance, a necessity created by the ■ community, is an important link m tiiat chain or principles .which supports the xvliole structure of commerce, and is an indispensable part ol an elaborate system of credit and exchange. For the various parts of this vast machine to work smoothly it is consequently essential that the closest intimacy and cordial relationship should exist between the insured and insurer. Nothing can he further from the truth than the unfortunate prevalent misconception that the public and the insurance companies should view matters from different angles. Insurance is so essentially mutual in character: it is in the nature of a provident fund —the companies merely being the collectors of many small sums to pay the larger sums in claims to those who suffer loss. Practically every person carries insurance in some shape or form, and thus the interest being mutual with the company granting the indemnity, the relations between the .insured and insurer should he absolutely tounded on good faith. After subjecting the whole principle to the cold logic of reason and fact the analysis shows that the public themselves are the insurance companies. Tile public makes them, supports them and benefits through them in times of disaster; the public fixes the price of the indemnity; as tho public determines the loss so must they consequently determine the cost of the indemnity. 'The companies reflect the less in the premium charged. It is therefore logical to say that insurance companies are merely an aggregation of the insuring public, who become their own insurers. The companies in their capacity of corporate bodies merely become t'e storehouse from which monies collected are distributed to sufferers, and are guardians of the trust fund contributed by the public themselves. Thus it is essential that with interest so interwoven as to be inseparable, the relations must he of a mutually friendly character, and if these results are to bo achieved sympathy as well as eo--1 operation is necessary. The elimination of lire waste is a question that is exercising thoughtful minds the world over, and its economic importance is second to none where the conservation of wealth and increased production presents the only reeogj nisci 1 solution of the tremendous proj hlems that face every nation, insurance companies have nhv’ays- done, and 1 are now doing, tlicif share tdwarcls solving this complex question. This, along with many other matters which should .be of eousideyable interest to ' readers wilj be dealt 'with by special 1 articles in these columns from time to time.