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

BEAN, District Judge.

This is an action on an insurance policy issued by the defendant covering loss of rental income from a certain building in the city of Portland, the covering clause of which contains 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 income less all expenses, which, by reason of fire, the insured is or may be…