[Footnote 237d-11: Thus, for instance, in the electorate of Mark, each of the four classes of houses bears its own loss alone. To the fourth class, for instance, belong smithies, brick factories, and buildings with steam engines, etc. The Baden law of 1852 puts the same burthen in the same place, upon houses exposed to danger in a greater or lesser degree; but provides for 4 classes (_Gemeindeclassen_) with different rates of contribution, and assigns each _Gemeinde_ every year, according to the relative magnitude of the losses of the previous year, to one of those classes. How risky it is for large cities to confine their insurance, because of the ordinarily small amount of damage to them from fire, only to insurance institutions of their own, is shown by the case of Hamburg in the year 1842, where three joint stock insurance companies could pay only from 75 to 80 per cent., and the Bieber Mutual Insurance Company, only 20 per cent.] [Footnote 237d-12: In the case of buildings, the greater risk is generally calculated by correspondingly multiplying the insurance-value, but in case of damage by fire, it is simply made good.] [Footnote 237d-13: In the insurance companies specified by _Masius_, loc. cit., 176, the aggregate amount of their insurance, stood to the amount necessary to cover it, by means of receipts from premiums, reserve, and joint-stock capital: In the Leipzig Fire Insurance Company, as 100:1.87 In the Trieste Fire Insurance Company, as 100:1.80 In the Elberfeld Fire Insurance Company, as 100:1.19 In the Aix-Munich Fire Insurance Company, as 100:1.15 In the Cologne Colonia Fire Insurance Company, as 100:2.44 In the Karlsruhe Phœnix Fire Insurance Company, as 100:3.7 In the Berlin Fire insurance Company, as 100:6.3 In the Gotha, about as 100:2.6 (including the four fold after payment note) In the same companies the amount of damage and of expense for the last preceding year were, on every 100 thalers, of insurance, 46 pfennigs (1/300 thalers), 44, 29, 48, 67, 55, 35, 42; an average of 45, that is 1½ per 1,000. Besides, much depends on the degree to which the joint-stock capital can be applied. Thus, for instance, in Berlin, on every 1,000 thalers 200 are paid in cash, and a note (_Solawechsel_) given for the rest, payable in two months after notice. Where the unpaid remaining stock is but a mere book-debt, and may even be evaded by disclaiming the stock itself, it of course affords very little security.] [Footnote 237d-14: Compare _Volz._ Tübinger Zeitschr. 1847, 349 ff.]