The Telephone. WITH WHICH IS INCORPORATED THE POVERTY BAY STANDARD. PUBLISHED EVERY EVENING. GISBORNE, MONDAY, NOVEMBER 17.

Poverty Bay Standard, Volume I, Issue 287, 17 November 1884, Page 2

The Telephone. WITH WHICH IS INCORPORATED THE POVERTY BAY STANDARD. PUBLISHED EVERY EVENING. GISBORNE, MONDAY, NOVEMBER 17.

On Saturday last we gave our readers a resume of a water scheme which it was thought might be made available for local requirements. The author of the report says:—Wc must now turn to the question of fire insurance, as it, is chiefly with a view of protecting the town jrom fire that a water supply commends itself for consideration. I have ascertained that in 1879 the total value of property insured in the Borough amounted to /"j 1,800, the amount of annual premiums paid being ,(2,120. Since then the town has very greatly improved, great progress having been made in building, and I am informed that the number of insurers has increased very largely. During this same period, viz'., from 1879 to 1884, the Borough valuation has risen from Z'16,546, with a rate of Z'B27, to /■25,c>33, with a rate of/2,ior, or, in round numbers, a rise of 33 per cent. It is reasonable to suppose that the value of the property has increased in the same ratio, in which case it would make the insured value at present over /■42,00 c but from all that I can gather this is very far below the mark, and that /■fio.ooo would be nearer the correct sum. On the other band the rates have been materially lowered since 1879, so that the increase of amount paid in ratio will not be in the same ratio as the increased amount of property insured, but at the lowest computation it will probably be /'u.OOO per annum. Whatever may be the rates of premium now paid, if companies will insure at the rates now obtaining when a single fire might sweep away half the town, it is obvious that it will pay them to take a very much lower rate if the town were protected by a high pressure water supply of sufficient capacity to confine a fire to the building in which it originated.' Judging from the extent rates have been lowered in all towns where a good high pressure service has been introduced, I think it would be quite safe to expect a reduction equal to 20 per cent of the existing rates. Taking this as a basis for comparison, we have 20 per cent on /■3,00c —Z'6oo —as the amount annually saved by a reduction of premiums. Taking this'off the £l,OOO previously estimated as the cost to the ratepayers of the Holly system, we have remaining only Z'4oo per annum as the cost of an efficient high pressure service covering the great bulk of the inhabited part of the town. The Z'4oo would represent a rate of about 6d in the £ levied on the part of the town reticulated. If it can be found that the pumps can be operated by water power, the saving will be much greater, and the rate required smaller in proportion. In conclusion, I would beg to draw your attention to the fact that in the estimated assets a very small sum has been set down for the sale of water and that with the increase of population the consumption would increase very materially, the comfort and convenience of a high pressure service being such that it only requires to be known to be appreciated.