FAKMEKS' MUTUAL INSURANCE COMPANIES' UNION. 339 



Mr. Kelsey: I understood you to say jou made a record of the 

 amount of insurance 3-ou wrote on each building, but you did not state 

 that you made a record of the value of the building. 



Mr. Tufts: We always put down the cash valuation of the building, 

 then the sum we will insure it for. We never take over two-thirds the 

 cash valuation. 



Mr. Young: I understood you to say the produce is put in the appli- 

 cation. Do you make that broad enough to include hay, corn and every- 

 thing grown on the farm without specifying the different articles? 



Mr. Tufts: I consider when I go into an insurance company and pay 

 mj' money I want my property insured against fire to a certain amount. 

 If I itemize my property in the application I will probably omit some 

 things from the list, and if there is a fire and these particular things are 

 burned I will get nothing for them. If I say "produce" in the letter, and 

 do not specify the particular items, I can get the value of what is lost 

 in case of a fire. 



The meeting was adjourned until 2 o'clock p. m. 



SECOTs^D SESSIO^T. 



The second session was called to order at 2 p. m., Thursday, January 

 5, Mr. Jones in the chair. 



Mr. Young: Suppose a man insured some specific horse for one 

 thousand dollars, and then trades or sells that horse he must have his 

 insurance changed. I never could understand why, if I have a thousand 

 dollars' worth of property in a barn and am willing to pay on a thousand 

 dollars' worth, that insurance should not cover all of it. If I am unfortu- 

 nate enough to have a fire you should all assist me to get on my feet 

 again. I have always maintained that if we put a thousand dollars of 

 insurance on one horse there is less likelihood of that horse being de- 

 stroyed by fire or Ifghtning than if we had the same insurance on five 

 or ten horses. Our company does limit the amount to be placed on one 

 animal, and I have always maintained that it is wrong. We up there as 

 neighbors are organized for mutual benefit, and whether I have a thou- 

 sand dollars in one horse or whether I have it in five horses makes no 

 difference to the company. If I have that much insurance on property 

 and a thousand dollars' worth of that property is destroyed, I have a right 

 to get that amount from the company. 



I should like to know how insurance on the contents of a barn can 

 be limited. The question resolves itself into the evidence you can gather 

 ^after the fire. The same thing applies to hay or grain or implements, or 



