5-'6 



The Review of Reviews. 



Xoremhrr i, 1906. 



INSURANCE NOTES. 



The Advisory Committee formed by the policy- 

 holders in the Mutual Life Insurance Company and 

 the New York Life Insurance Company in the United 

 States. Canada, and Europe, are endeavouring to 

 place the management of the Companies in the hands 

 of more trusted officers. It has been looking into the 

 affairs of the two Companies, and it finds that they 

 Control £-261 1,000,000 worth of convertible assets, 

 which are mostly centred in Wall-street, New York, 

 The projected directorate wish to avert the danger 

 of such concentration, and to invest their funds in 

 the countries from which they are drawn. 



.\ serious ship fire occurred on September 17, at 

 Newcastle, on board the barque " Marlborough Hill," 

 The fire wa.s discovered in the earlv hours of the 

 morning amongst a quantity of damaged wool, which 

 had been stored 'tween decks. The flames made rapid 

 progre.ss, and the whole of the afterpart of the ship 

 was ablaze. An immense quantit.v of water was 

 poured into the burning vessel, and the fire was at 

 length got under. The damage is estimated at from 

 £6000 to £7000. 



A disastrous Are occurred on September 14, by 

 which the mansion of Mr. F. W. Fairbairn, of Wool- 

 brook, Teesdale, in the Western Di.strict of Victoria, 

 was totallv destro.ved. The outbreak originated in a 

 bedroom, and although the alarm was at once given, 

 little could be done to sta.v the fire, which quicklv 

 spread through the whole house. Within a couple 

 of hours, only the bluestone walls of the building 

 remainefl. A quantity of jewellery valued at £2000 

 vras stated to have been destro,ved. together with 

 valuable pictures, billiard tables, and costly furni- 

 ture. The property was insured in the Northern As- 

 surance Company. 



At a meeting of the Port Melbourne branch of the 

 Australian Natives' Association last month, a resolu- 

 tion was passed that the Board of Directors be writ- 

 ten to requesting them to take into consideration the 

 advisability of establishing an insurance s^^heme for 

 the benefit of members who have become unemployed. 

 It was suggested that all should participate who were 

 out of work, and out of any money held the sub- 

 scriptions to the Lodge.s could be made a first charge. 



-A. Bill to safeguard the policy-holders in foreign 

 life assurance companies was introduced into the 

 House of Representatives last month. Its principal 

 provision was that all foreign life assurance com- 

 panies must lodge approved securities with the Gov- 

 ernment amounting to two-thirds of the valuation of 

 their existing policies in Australia. A bad feature 

 of the Bill was that under it British Companies 

 were treated as foreign institutions. The Ministry at 

 a later stage added new clauses, one of which pro- 

 vided that if the Governor-General was satisfied that 

 by the law of any part of the King's dominions in 

 which a Company is formed, or has its head office, 

 adequate provision is made for the protection of 



THE EQUITY TRUSTEES, EXECUTORS, AND 

 AGENCY COMPANY LIMITED. 



RESERVE II4BILITY, £100.000; OlARANTEE FIND, £10.000. 



BO.\RD OF DIRECTORS -Edward Famii.g Esq , Chairm.in ; W, 

 Campbell Guest, Esq.; H B. Higgins, Esq_ KC. M.P.: Donald 

 Mackinnon. Esq.. M.L.A ; R. G. M Cutcheon Esq \f I.. A. 

 RESISTERED OFFICE, No. SS QUEEN ST.. MELBOURNE. 



riiis Company is empowered by special Act of Parliament to per- 

 form all classes of trustee business. JOEL Fox, Manager. 



SAFES. 



HOBBS, HART & CO., LIMITED. 



By Special Appointment from Her L»t« Majesty Qub«s VlcroBii 

 By Warr.nt from His Majesty Kiso Edw.»rd VII. 



SAFEMAKERS TO THE BANK OF ENGLAND. 



Strong Rooms, Doors and Locks, Etc. 



F. J. LAWN & CO. Jiu'h 



51 YORK STREET, SVD,\KV. 



TEIK1H..NK 1603. 



GEO. E. DICKENSON, 



Manager and Trustee. 



Briti,sh Capital to Invest on Mortgage. Large .Sums from 

 4 per cent. 



PRELL'S BUILDINGS. 

 60 QUEEN STREET. IVIELBOURNE . 



CLEM. A. HACK, a.s.a.s.m.. 



Mem. Aust. Inst Min. Engrs.. 



Patent and Trade Marks Attorney, 



63 QUEEN STREET. 

 MELBOURNE. 



TELEPHONE 

 4622. 



ALEX. SINCLAIR, 



ConsultiB^ Engineer, 



31 QUEEN STREET, MELBOURNE. 



DREDQINQ A SPECIALTY. 



TEL. 1169 



policy-holders, such Compauy might be exempted 

 from the provisions of the Act. The measure has 

 since been abandoned. 



Proofs of loss presented to the insurance companies 

 over the San Francisco disaster hare aggregated over 

 £60,000,000 sterling. Combinations of polic.v-holders 

 are being formed to fight insurance companies, and 

 are endeavouring to force them to pay claims, many 

 of which have nlread.v been found to have been 

 over-estimated or fictitious. The Courts will ere 

 long be congested with actions over the matter. It 

 is stated^ that the manner in which the British offices 

 are settling their claims promptly is in marked con- 

 tra.st to the methods of many of the American Com- 

 panies, and a large increase of business to the British 

 Companies will result. 



