.

"A fire underwriter, to be a real one," he went on, "should be a chemist,
financier, mechanic, lawyer, engineer, and diplomat, and a dash of a
clairvoyant, too. He should know everybody's business, including his
own. Consider what he is expected to know: there is no class of industry
which can dispense with insurance."

"Except the Massachusetts Light, Heat, and Traction Company," interposed
Helen, quickly.

"That is true up to the present time," Smith assented; "but their wisdom
in having done so is not sufficiently proved, and Mr. Charles Wilkinson,
whom I met in your uncle's office, is in hopes of being able to change
their ideas on that subject. But I have my doubts if he will succeed,
from what is said of Mr. Hurd."

"I think Mr. Wilkinson spoke of having met you," the girl said
carelessly; which was positive disingenuousness, for she remembered very
well indeed. And here she sat, talking to the man whose suggestion, as
Charles quoted it, had roused her interest in the business. Helen was
not sufficiently Oriental to find anything predestined in this meeting,
but it nevertheless seemed a little odd. Abruptly she spoke, to rid her
of her own thoughts.

"Mr. Hurd believes in carrying his own risk--isn't that the expression?"

"Absolutely. No life-long fire insurance man could have phrased it more
correctly."

"I'm afraid it was mere plagiarism. I think Mr. Wilkinson used it."

"Credit withdrawn," said Smith. "What were we talking about? Oh,
yes--about underwriters. Now, the fire underwriter has to pass upon the
danger of every risk whose insurance is offered to his company. The
company, of course, makes its underwriting or trade profit--or hopes to
do so--by receiving more money in payment of premiums than it has to
disburse, after deducting expenses, in losses. It must therefore accept
its business as scientifically as possible. It must know how much money
to risk--that is, how large a policy to write--on every class of risk in
the world. When a line on a foundry and machine shop comes in, let us
say, from Silas Osgood and Company, the underwriter is supposed to know
how much premium, or rate, the risk should pay, and how many dollars the
company can safely hold."

"But I thought you said Uncle Silas sent you the risk. Doesn't he also
determine the amount the company takes?"

"The amount for which the policy is issued; but he is merely the agent.
He exercises his best judgment, but the