The Oamaru Mail. WITH WHICH IS INCORPORATED THE NEW ZEALAND AGRICULTURIST. TUESDAY, APRIL 1, 1879.

Oamaru Mail, Volume IV, Issue 923, 1 April 1879, Page 2

The Oamaru Mail. WITH WHICH IS INCORPORATED THE NEW ZEALAND AGRICULTURIST. TUESDAY, APRIL 1, 1879.

Losno* fogs. we arw told, increase the melancholy of hypochondriacs ; and, kmjr unable to enjoy (ftp anticipation of sunshine, numbers eonelatl© that the world is too gloomy for them to bear, and voluntarily and by their own act they hasten their sotution of th» greatest ef all problems. We are reminded of these suicides by the late action t>f the insurance l companies. They have become possessed by an evil genius; not through the suspension of watery vapour—a gvml supply of that woutd have cured their malady—but by the prevalence for a season of its antithesis. Insurance Bumptwiies have- been rue dazed by the gfc»re of j this month's tires. They are ({riven t»>

. their wits ends by the numerous calls upon their frencU tw meet claims. and fot a time insurance business has f*vtt deprived of its rosy hue. Operating with limited" capital, they have hitherto been able to pay delicious dividends t«» their shareholders. ftut their e»tctita>C(<>na ! of from ten to fifteen per sent. . .dends have been turned topsy-tnrsy by the extraordinary freaks of the remorseless element with which they have to (to battle. Of course, it is very sad that shareholders in insurance companies should have to be eonteut with the same profits as other people,, but, w.e t'atwy that other people will object to any deficiency made up at their expense. Jfnt tony; since ttw companies met, and resolved that ftce i-isfc rates siuuiLl be increased. they announce that chums against ship.* will not be paid until after the expiration of HOdays from the date of their lodgment. The increase in rates was viewed by in,* surers as an imposition ; but they scarcely know what, to tfvinfc of the latest move. It is said that the idea has been adopted t'or the purpose of providing time for instituting inquiries into the ei.uje.irtf tires. But it appears to us more tifce an attentpe to obtain the advantages of the use of the amount of insurers' claims for the two months. As mattersstoodbefore.there wasnothing to prevent the fullest eivptiry into cases- that aroused suspicion ; and the only new feature introduced by the new arrangement is that honest men and rogues are treated atifce.. In the ease of an honest man,, immediately his insured property is destroyed by tire, the amottiife f»;r which he insured is his property, and ahnnLl be paid to him as soon as possible after the occurrence. The insurance companies- may have the whip in their hands—as the majority of property'holders must insure—■

t>ut it is unfair that an insurer who has been unfortunate enough to-get burnt out

should, in addition to such a calamity have to suffer the hardship of wait

iug for his money for two months before he can commence the res siscitation oC his business* We believe that the prevalence of Urea during the past month, necessitating investigations, is only a specious excuse for sttrrepfttionsly increasing the: incomes of insurance corn-

p»nie& Jjet insurance agents tie more in the acceptance: nf risks, ami the number of fir®* witt soon visibly tHromtsEt.

Of one thing wo certain—if the present rinheard-of arrangement tie in-

sisted en, it wilt not be difticrftt t

get ony eoraparvy to. take advantage of tile opportunity presented of making its name and increasing its business by refusing to identify itself with swcft an unholy compact. Of course, it tv ill be

understood that the- new regulation canno legally b» marls to- apply to existing in

sttraneea— i>.,, it cannot ti»ke: effect ttnti

after the expiration of the term for which insurance premiums were paid prior to the instituting of the new regulation.