The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1907-10-15
LOCAL INSURANCE
RATES ARE NOT
EXTORTIONATE
CFrom Saturdays Advertiser.)

sit has come to the notice of thi
committee that it has been difficult
since the fire in San Francisco to OBJ
tain sufficient insurance on many Of
our local risks, and we have been tolC
by gentlemen of the highest standin.
that tinkering with the rates at tn,
present time would undoubtedly caus,
some of the best companies to with
draw; those companies that we cannot
afford to lose; those dollar for dollar
companies. This would be deplorabls
and of serious import to the community
"Of course it is optional with the
Association to set what value they
please on this statement. Suffice it tt
say your committee are satisfied from
the knowledge which they have &C
quired that the danger is real.
Referring again to Mr.. Wakefield q
tables. The statement that during the
last four wears the profits from fire
insurance have been abnormal in thi:
Territory are absolutely true. Unfor.
tunately we are unable to find any rec
ords of any earlier years, say for ter
or fifteen years, whereby comprehen.
sive comparison of losses and gain:
could be made, and it seems to be un-
fair to base our calculations on the
four years of plenty just passed, espe.
cially when it is claimed that if figures
say for fifteen years past were avail
able, it would show very little, if any
profit to those in the fire insurance bust
ness.
"In conclusion, the time seems tt
your committee to be inopportune tc
commence this agitation. Following
close upon the heels OF the disaster il
San Francisco, which wiped scores Of
insurance companies out of existence
and shattered the most stable of then
all to the core, demand of this kline
can only produce irritation and would
probably accomplish no good.
"Your committee feels assured, with
the completion of the Nuuanu dan
(Which cannot now be long delayed)
and the additional security from the
abundant supply of water which it will
furnish, that a substantial reduction
in the basis rate may be asked for and
easily obtained.
"E. A. McINERNY,
"W. T. LUCAS,
"E. II. PARIS,
COMMITTEE on Trade and Finance
PUBLICITY OR NOT.
Before presenting the report, Mr.,
McInerny questioned the advisability
of giving it out for publication, argu-
ing that in the future, when the Nuu-
anu dam was really finished and con-
ditions were so that a better rate
might reasonably be asked, the pres
ence of such report might be a club
for the Underwriters to use.
This contention was debated, E. H
Paris leading the forces that favored
the utmost publicity in the matter
After the reading and adoption of the
report, the discussion was resumed, II
being finally decided to allow the re-
porters present to use all OF the ma
terial that they had been able to get
The adoption of the report was ac-
companied by the expressed hope OF
Mr.. McInerny that, NOW that we have
a new administration let us hope that
the Nuuanu dam will be really finish
ed The members of the committee
were thanked for the thorough manner
in which they had gone into the SUBJ
ject, and it was ordered that a letter
of thanks be sent to Mr.. Wakefield for
the facts and figures he had supplied
the association with and for the work
he had done in bringing the matter
up.
THAT DIRECT STEAMER,
The following was the report of the
committee instructed to look into the
matter of the request that the direct
steamer between Salina Cruz and Ho-
nolulu be discontinued:
Your committee appointed to inyes-
tigate and report in connection with
the proposed withdrawal of the direct
steamer service between the islands
and Salina Cruz by the American-Ra-
waiian Steamship Co., beg leave to re-
port as follows:
I'VE find, upon investigation, that
through suggestion or initiative action