120 IOWA DEiPARTMENT OP AGRICULTURE 



the rate book for each town will give. Some secretaries think that is 

 very high. Possibly it is, but at the same time when you consider the risk 

 of the average fair ground, you must realize that the companies accepting 

 such insurance are taking considerable risk. 



It has been suggested that there are some companies that will take 

 these risks at a less rate — that is, farm mutuals — but that the rating 

 bureau Avas standing in the way. I would answer that by saying that 

 they could put on their regular assessment as charged by the rating bureati 

 and then the difference could be returned to the policy holders in the 

 form of dividends. Often the mutual insurance company will pay an 

 annual dividend of ten to fifteen per cent, but sometimes the profit goes 

 the other way, and therefore it is for each society to decide what is 

 best to do. 



If I am rightly informed by Mr. Lauer, last year we passed a resolu- 

 tion that the expense incurred in the passage of the Taylor bill be met 

 by the different fair associations in proportion to the benefit derived 

 under it. I understand that most of them have paid up, but some of them 

 have not. It stands to reason that if we had an assessment association 

 for the insuring of fair grounds some would pay and those that were 

 weak or negligent would not pay, and that is all there would be to it. It 

 wouldn't be a success. 



This is supposed to be a short talk and the matter can be discussed 

 further by other men. 



The Chairman : The next speaker on the program is Mr. L. H. Pickard 

 of Harlan, but on account of his absence we will listen to the next 

 speaker, Mr. A. G. Rigby of Independence, who will tell us how to get 

 cheaper rates. 



Mr. A. G. Rigby: Mr. President and Gentlemen of the Convention: 

 The question of insuring fair property I found considerably one-sided. 

 We experienced difficulty in securing stock insurance when we were 

 turned down by our farmers' mutual association. I wrote to some in- 

 surance companies located in Des Moines, also to certain company of- 

 ficials with whom I was acquainted and was informed that they did not 

 want the risk. But I finally found one man who understood his business 

 and he took $3000 on our property and spread it around by placing $500 

 in six different companies at a rate of $2.65 a hundred. We took out that 

 insurance, an inspector came and made a rating, and the make-up of the 

 rating is as follows: We got a rating of $2.31 on our log cabin, $2.31 on 

 floral hall, $3.43 on the exhibition building, $2.37 on the pig and sheep 

 sheds and on the cattle and horse barns, $2.43 on the grand stand, and 

 $2.22 on the speed barns. 



Now, in explanation of this rate I might say that all of this property 

 is not only outside of the town itself but also outside of the water system 

 and fire limits. The nearest water hydrant or fire plug is about 1500 

 leet away from the buildings, and in order to reach them in case of fire 

 they would have to lay a hose across the Illinois Central track. 



With regard to getting cheaper rates, I don't know how we will do it 

 unless we get water on the ground. That is a matter ve are working on 



