EARTHQUAKE INSURANCE. 129 
A fire-resisting building is, in one sense, exactly analogous to a 
fortification — it needs a garrison to make it thoroughly effective. 
There is this difference, however, that a fire-resisting building can 
be made so effective in itself that a relatively small garrison can 
save it. In my judgment, a building thoroughly well constructed 
along the lines indicated in this report would stand in a conflagration 
such as that which occurred in San Francisco, preserve its contents, 
and suffer a loss to its own structure and finish not exceeding 15 per- 
cent. Until a result approximating this degree of endurance is 
achieved, it is hardly fair to say that the " modern fire-resisting build- 
ing " is a success, except in so far as it enables a sufficiently tall struc- 
ture to be erected on a piece of valuable real estate to furnish an 
adequate return for the entire investment, and even this statement is 
true only as long as the building does not happen to be attacked by 
a conflagration. 
EARTHQUAKE INSURANCE. 
It would seem that in a place like San Francisco it would be sound 
policy for the business men to form a mutual earthquake insurance 
company on lines similar to those of the mutual fire insurance com- 
panies. They should employ competent experts to draft specifica- 
tions and evolve types of designs not in conflict with the municipal 
ordinances for buildings specially planned to resist earthquake. To 
be admitted to the benefits of the mutual earthquake insurance com- 
pany an owner should be required to conform to the standard plans 
and specifications. In my judgment, there is every reason to believe 
that such an enterprise could be made successful and that it would 
result in having available at all times a fund for making good any 
earthquake damage. It is probable that the premiums that would 
have to be charged by such a mutual insurance company would be 
found to be no greater than those that are charged for fire risks 
in large cities. 
SUMMARY. 
It will be apparent that much of the information presented in a 
report like this one is necessarily hearsay. So far as the history of 
the fire is concerned, this indefiniteness can not be avoided, and the 
details of the damage itself could be verified only by a prolonged 
stay in the ruined city and a close inspection of the ruins of every 
building at every stage of the process of cleaning up. It is to be 
hoped that the technical men engaged on this work will keep a com- 
plete and- accurate record of all details of every sort, which will be 
available for future reference. It is believed, however, that enough 
evidence was collected at first hand to abundantly justify evvvy con- 
