The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1907-10-12
LOCAL INSURANCE RATES
Continued from Page One.)

Continued from Page One.)
! by gentlemen of the highest standing
that tinkering with the rates at the
| present time would undoubtedly cause
some of the best companies to with
draw; those companies that we cannot
| afford to lose; those dollar for dollar
| companies. This would be deplorable
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 to
| say your committee are satisfied from
| the knowledge which they have ac-
| quired that the danger is real.
"Referring again to Mr. Wakefield s
| tables. The statement that during the
| last four wears the profits from fire
| insurance have been abnormal in this
| Territory are absolutely true. Unfor-
| tunately we are unable to find any rec
| ords of any earlier years, say for ten
or fifteen years, whereby a comprehen-
sive comparison of losses and gains
could be made, and it seems to be I'M
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,
protlt to those in the fire insurance bust
ness.
Gin conclusion, the time seems to
your committee to be inopportune to
commence this agitation. Following
close upon the heels of the disaster in
San Francisco, which wiped scores of
insurance companies out of existence,
and shattered the most stable of them
all to the core, demand of this kind
can only produce irritation and would
probably accomplish no good.
"Your committee feels assured, with
the completion of the Nuuanu dam
(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,
F'W. T. LUCAS,
"E.' H. PARIS.
COMMITTEE on Trade and Finance
PUBLICITY OR NOT.
Before presenting the report, Mr.. |
McInerny questioned the advisa bility /
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. it |
being finally decided to allow the re-
porters present to use all or the ma
terial that they had been able to get
The adoption of the report was ac-
by the expressed hope of
Mr.. McInerny that, now that we have
L new administration let us hope that
he Nuuanu dam will be really finish
ed" The members of the committee
we're thanked for the thorough manner
n which they had gone into the SUBJ
ect, and it was ordered that a letter
# thanks be sent to Mr.. Wakefield for
he facts and figures he had supplied
he association with and for the work d,
lie had done in bringing the matter
Ip. :
THAT DIRECT STEAMER. :
The following was the report of the d
ommittee instructed to look into the T
natter of the request that the direct Y
teamer between Salina Cruz and Ho-
olulu be discontinued:
Your committee appointed to inves- a
gate and report in connection with t
he proposed withdrawal of the direct n
teamer service between the islands a
nd Salina Cruz by the American-Ra- Il
allan Steamship Co., beg leave to re- n
ort as follows: RI
I'VE find, upon investigation, that Y
trough suggestion or initiative action
/ the part of prominent members of
lie Sugar Factors Co, Ltd, the Amer
Steamship Co. are con-
dering the matter of Withdrawing the Sc
'esent direct steamer service between in
iS |