DOMINION NEWS.

Hokitika Guardian, 2 August 1927, Page 3

DOMINION NEWS.

(By Telegraph—l’er Press Association.) N.Z. FIRE INSURANCE COY. AUCKLAND, Aug. 2. 1 At the annual meeting of the New Zealand Insurance Coy., the Chairman (Mr Horton) commenting on the great number of tiros, particularly of duelling houses in country districts, said the file waste in New Zealand was higher per head of population than in any other country in the world except United States. While the preponderance of wooden buildings was a factor, faulty construction of heating arrangements contributed largely. 1 he undesirable state of tHe tire workers’ compensation department was still causing underwriters generally a great deal of anxiety. The tendency of Parliament was to increase the benefits payable to an injured worker or his dependants, at the same time making it. difficult or impossible for companies to assure an increased premium commensurate with the additional liability. This was particularly the case in New Zealand where under the Amending Act df January 1927, all companies were without extra income. Mr Horton continued: It was the intention of the Board, in furtherance of the police of gradually extinguishing the liability remaining on shares, to recommend that, pound shares which hail carried a liability of six shillings each should benefit by two shillings each by the withdrawal of £150,000 from he .substantial reserve. At the same time, the dividend rate had been increased. Tim underwriters' profits earned in the Dominion had been very unsatisfactory. The good results of this year were a tribute to the energy and foresight of the pioneers of the Company in building up a world-wide business which enabled the profits earned abroad to he brought into this country to the general advantage.

OILFIELDS REPORT. GISBORNE. Aug. 2. Taranaki Oil Fields Ltd. reports Wain)in No. 2 well is 2930 feet in depth in shale. It is uncertain if the conditions in the well will permit of a satisfactory cementing at the present depth. It not. they will resume drilling tor an S', in. diameter casing. Gisborne No. I well is 75ft. in depth in elav and shale.

■MOTOR SERVICE FEES. GISBORNE. Aug. 2. Motor Service Companies operating on the East (oast arc alarmed at the Outlook as a result of the decision of the Appeal Court regarding the payment of licensing 'fees for service cars travelling up (| u > Coast. Five licenses will he required to Rotorua, nine to Tauranga and ten to Napier. If the fees are enforced it is considered a number of the services will be compelled to stop.

THAMES .I FHI LEE. THAMES. Aug. 2. Iha tiles jubilee celebrations opened in good weather. Notable visitors wero Hon. Anderson. Hun. Mclntyre. Mr Liuklater. Hon. Samuel, and Mr I'Oibes, M.P. Many apologies were received from other members. There was a tremendous influx of old pioneers and identities into Thames. It is estimated tlnj crowds yesterday totalled over ten thousand. The chief features were t.he presentation of a gold Mayoral chain to Mayor W. Bougard. On Sunday there wa.s a eombined thanksgiving service at which nearly 150!) were present, the church being packed. On Monday a monster procession, sports, a.nd reunion dinner to the pioneers, most of whom are remaining liero a few days enjoying the renewing of old friendships.