THE KING’S SPEECH

Hokitika Guardian, 28 March 1928, Page 2

THE KING’S SPEECH

NEW IH'li.niXC OPENED IN LONDON. (Australian & X.Z. Caldu Association.) HUG BY, March '2l. The King anil Queen wore rocoivoil by i heering crowds when they drove from Buckingham I’alacc tliis morning to open tile, magnificent new offices recently erected for Lloyd’s, and which arc generally regarded as one ol London’s finest buildings. The growth of the famous institution is one of the romances of city history. Two hundred and forty years aeo -eaintn and merchants used to meet in a coffee house in lower Street kept by Edward Lloyd. Here, too, came those who were interested in marine insurance. Soon 1.1 i yd's coffee house became the rccongised place for the transaction ol' business dealing with shipping and its risks. 1* rout these small beginnings Inis sprung the great corporation ol marine underwriters known world-wide as Lloyd's. The building opened to-day by the King has been designed by Sir Edward (,'onper. The opening of the new building was an impressive spectacle. In the course of his speech in reply to an address of welcome the King referred to the long history of the corporation of Lloyd’s. lde said: “ Lloyd’s is one ol the greatest, representatives of insurance, especially of marine insurance, of which it was the pioneer, and it is the organised system of marine insurance which has transformed overseas trade from a daring and hazardous speculation to the orderly and smoothly working exchange of commodities on which modern civilisation depends. 11 awards, indeed, remain, hut their disastrous consequences have been averted by tile introduction of Lloyd’s policies of insurances and their unerring justice in dealing with these policies, which has always been your proud tradition. “ By the development ol this idea o' insuramc the community is linked together by minimi duties and sen lees, and in tlii- wav a shock which wouiil have overpowered an individual mail, l':iiiiilv or partnership is so widely distributed (lint it <an be harmlessly absorbed. An insurance denies a bond of union between citizen ami eitizeu and between nation and nation, so it holds together the fabric oi civilised society ami is conducive to international peace.