First Investment Co. v. Vulcan Underwriters of the North British & Mercantile Ins.

This is an action on an insurance policy in the amount of $8,300, covering loss of net rentals of a building located at the comer of Fourth and Yamhill Streets in the City of Portland. Plaintiff had judgment and defendant appeals. The policy issued by the defendant company contained the following stipulation:

“It is understood and agreed that this policy is intended to cover the loss of net rental income from rented portions of the building above described, resulting from fire which renders such rented portions untenantable.

‘ ‘ The net rental income, meaning thereby the amount of gross rental…