6 DEPAETMENT BULLETIN" 912. 



insurance summaries which contain lists of companies that have 

 failed or retired, however, at least six joint-stock fire insurance com- 

 panies have gone out of business in the last 50 years for every such 

 company now in, the field. 



Considered by States, the number of hail mutuals organized and 

 the number now iri existence are as follows : 



North Dakota, 13 companies organized and 1 in existence ; Min- 

 nesota, 25 organized and 7 in existence; Iowa, 18 organized and 6 in 

 existence; Nebraska, 16 organized and 4 in existence; Kansas. 14 

 organized and 7 in existence; Wisconsin. 8 organized and 4 in ex- 

 istence; Oklahoma, 9 organized and 2 in existence; Montana, 6 or- 

 ganized and 2 in existence ; Texas, 6 organized and 3 in existence ; 

 South Carolina, 2 organized and both in existence ; Connecticut, 

 Michigan, and New Mexico, 1 company organized in each State and 

 each still in existence. 



Of the hail mutuals that have ceased doing business, 11 companies 

 were in existence for one year only, 38 operated more than one year 

 but under five, while 20 operated five or more years but under ten. 



In this connection the various ages attained by the 41 hail mutuals 

 now in the field should be of interest. The approximate ages of these 

 companies, by five-year periods, are indicated by the following sum- 

 mary of their organization : 



1885-1889 2 companies. 



1890-1891 '. 2 companies. 



1895-1899 6 companies. 



1900-1904 _* 4 companies. 



1905-1909 7 companies. . 



1910-1914 5 companies. 



1915-1919 15 companies. 



The year 1911 marks the entry into the hail insurance field of the 

 third type of business institution above mentioned, North Dakota in 

 this year having put into operation its first State hail insurance law 

 which provided for the writing of this form of insurance through a 

 State hail insurance department. During the first year of State 

 hail insurance in North Dakota premiums to the amount of $26,000 

 were collected, representing risks of slightly more than $1,000,000. 

 The losses experienced during the year exceeded the premium in- 

 come, however, by nearly 18 per cent, and the losses as adjusted had 

 to be prorated at 70 per cent. The business during 1912 showed a 

 relatively marked increase; the premiums amounted to nearly $65,000 

 and the risks were in excess of $2,500,000. During this year, how- 

 ever, the losses were nearly one and two-thirds times the total 

 premiums, and for this reason had to be prorated on a basis of 55 

 per cent. These experiences discouraged the farmers from taking 

 hail insurance with the State department, and the total business for 



