CONGRATULATING THEMSELVES.

The Register, Adelaide, 9 May, 1912.

INSURANCE ON THE KOOMBANA.

Fairplay is responsible for the statement

in connection with the loss of the Adelaide 

steamship Company's steamer Koombana

until last year the company had insured its 

fleet in Adelaide, but some smart London 

brokers got hold of the business at a cut 

rate, and placed the highest valued boats, 

including some new steamers in London

at a considerable reduction on the rates 

paid in Adelaide. In consequence of the 

loss of the Koombana, Adelaide underwriters 

are congratulating themselves that they have 

missed a heavy loss, which has fallen on 

London underwriters.

It is difficult to reconcile the loss of a ship with 157 souls and self-congratulation.

courtesy Trove