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picks, stake pullers, extra ropes, tickets, blank contracts and all necessary printing, which would bring the cost of the usual "million dollar" circus and menagerie up to about $86,000.

On all this property there is not one dollar of insurance. Once, when on the road, a live stock insurance company came to me to insure our horses, but at the rate at which they wanted to insure them I soon convinced them that we could not make any money.

I might add that a circus and menagerie at the figures I have given would be far better and larger than the average "million dollar show" now on the road, there being certainly not more than three aggregations that cost more than the amount I have given. No man should attempt the show business who has not a fortune, and also plenty of that other kind of capital quite as essential to his success—long experience on the road.