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Nelson Evening Mail, Volume VIII, Issue 24, 28 January 1873, Page 4

The patients of the Sunnyside Asylum, Christchurch, were recently amused with a gigantic Christmas tree, well laden with articles contributed by the Provincial Government and tbe public. The Wellington Post says : — ln the very heart of the Government Buildings a large strong roomys being built, the walls of which are of brick, and about two feet in thickness. At one^side an opening is to be seen, sufficient to allow, with some difficulty, egress to a roiae,* and above it, in large printed letters, appears the following startling announcement : "For members only." It is the lobby of the Parliament houses. As two gentlemen (says the Souther ?i Cross) were bathing on Friday, they were somewhat astonished by hearing loud cries from the shore calling them to make tracks to land. They did so about as quickly as possible, and were then informed that a large shark was within seven feet of one of them as he was •swimmiDg about totally unconscious of But for this timely warning tbe loss of life or limb would probably have ensued. The New Zealand Herald says: — "The (Auckland) Provincial Council concluded a somewhat stormy and rather miscbievaus session on the 17th December. All past differences between the Superintendent, his Executive, and Provincial Councillors, however, merged into genial unanimity, at the prorogation, by a champagne festival, held at the Provincial Bellamy's. All asperities were softened down, and the policy which had governed the business of tbe Council was considered jto have been the very best of all policies which could have been devised." As a proof of the present prosperous condition of 4 Auckland province, the New Zealand Herald adduces the fact that on ChristraasicTtfy, 1 from out of the city of Auckland alone went forth between five and six thousand' excursionists, all of them — women, children, and men — well, and most of -then* expensively, dressed. On the day preceding Christmas-day, the {large butchers' shops at night were half full of meat, because customers would buy nothing but the chqiceßt joints. Poulterers'' shops were emptied in early morning. The drapers temporarily doubling the number of their employes, could not supply their customers requirements fast enough. Sou^h British Insurance Company. —A circular has been issued by this Company showing its position at the end of December last, whea it had been four j

months in existence. It appears that the business of the Company is constantly increasing, as might naturally be expected from its large number of shareholders scattered throughout the colony. The premiums received for" the first four months amount to £9000; losses ineorre'l, £2,099 11a. lld. ; funds invest- d, £19.289. The interest on the investments at 7 \n r cent, would produce within some £500 or £600 of a dividend of 10 per cent, on the present paid-up capital. The circular, therefore justly states that the South British has met with a very encouraging amount of success; and this is cloubtleßS to be attributed, to a considerable exie t, to the. fact that it has 721 shareholders distributed throughout New Zealand. There are — in Auckland province, 145 sharehdlers; Wellington and Wangam.i, £25; Canie»bury, 175; and Nelson, 36. Tha la gest number of shares are ht Id in ihe province of Auckland, the largest number of shareholders are in tha province of Wellington. The document to which we are referring points lo tbe importance of this large and widely-scattered body of shareholders in guaranteeing a constantly increasing business, and, in conjunction with unlimited liability, in affording the most ample security to the insured. This question of security to the insured is seldom thought of by insurers, but yet is of vital importance to them as the disasters at Chicago and Boston fully prove. Unless an insurer has the fullest certainty tbat he will be paid losses he has insured against, he gives his premium for a doubtful contingency; he may, or he may not be really insured, in fact. The first provision in an insurance company, as regards security, is the unlimited liability of its shareholders for every insurance effected in it. Limited liability in an insurance company means a limit to the prospect of an insurer being paid for losses. This limit is the amount of unpaid capital on each share, and the accumulated funds of the company. If the shares are fully paid up, the shareholders are no longer liable for losses, only any funds they may have in hand. If they divide their profits pretty cloaely, to which there may be strong temptation, then the security to the insured is affected thereby. The South British has tbe unlimited liability of 721 shareholders, dwelling io different parts of the colony, and consisting of men of property, as the great and broad basis of the security it offers to tbe insured. Eeflecting men think of these things and act accordingly; tbe unreflecting do not think much about them, and trust that in* their case the matter will be all right. We published a paragraph a few days ago, showing that the Boston fire bad proved that insurers were not always insured, even when they had paid their premiums." "We are glad the South British, wisely? made* as wisely colonial as possible, bids fair* to be a success, and is clearly largely patronised by the public— Southern Cross.