174 TWENTY-SECOND ANNUAL YEAR BOOK— PART III 



it but will in fact, unless many other companies enter this business, be 

 obliged to consider curtailment of liability. As a matter of fact we did 

 shut down on acceptances this year on such days as July 4th and Labor 

 Day. 



Time and experience have brought out for development a wide range 

 of insurable interests — interests susceptible to loss by rainfall and we have 

 been trying to solve the needs of those interests to not only provide suita- 

 ble protection but to properly conserve our own interests at the same time. 



Besides county and district fairs we have figured on and insured expo- 

 sitions, in and out of door entertainments, baseball, football, lawn tennis 

 and field meets; races and contests of all kinds in fact; refreshment and 

 amusement propositions of all kinds, both within and out-of-doors. Even 

 a ladies ice cream lawn fete and a wedding! We have insured events hav- 

 ing a direct and tangible income and those from which the income was in- 

 direct — wherever, in fact, an insurable interest against rain could be 

 shown. We are figuring on building operations, highway and otherwise; 

 also on truck merchandise deliveries affected by road conditions. 



There seems to be as much room for the development of insurable in- 

 terest against rain as against fire and windstorm within the limits of dis- 

 ablement or curtailment of business, not property damage — but, please 

 mark this, our operations are confined to legitimate insurable interest. 



A question was asked regarding what as to rainfall outside of 

 the city in which the CYent is held, how wide a territory is 



covered ? 



Mr. Hatcher : We have gone out for a distance for additional 

 rate charges, providing against cumulative rain readings. Take 

 it here in Des Moines we might take on a policy providing one 

 or two other gauges, but charge you more rate on account of 

 assuming rainfall at these different stations. 



Mr. Stanbery : I don't know w^hether you men have all got 

 this report of Mr. Corey, but it occurs to me in this report it is 

 summarized better than I could possibly give it to you, or any 

 other individual. 



President Hofifman : Are there any more remarks on this sub- 

 ject? If not we will go on with the program. Budget system 

 for County and District Fairs, by Mr. J. P. jMullen, Vice Presi- 

 dent, Iowa State Fair. 



Mr. Mullen: In giving my views on this important topic I am not un- 

 aware that the advocates of the Budget System or other similar measures 

 that tend to lessen extravagance and lavish expenditures when out of 

 harmony with the paying power of the producer and consumer, will always 

 come in for attention and criticism from various interests as being too 

 conservative. But there are times when both progressive and conservative 

 can lay valid claims to wisdom. But considering present conditions I am 



