448                           FIREMEN S INS. CO.
UNDERWR IVTING AND INVESTMENT EXHIBIT-Continued.
Loss from    above .                          3,201 251...............
Loss from underwriting profit and, 251.
loss items         .          ....... .        .          3,538 761.
l                           l.1
Underwriting income earned      during                               1
the year            .        .... .........       .. .              $2,540,274
98
LOSSES.                 I
Losses paid .............   ............. $1,429,662 991 .
Deduct unpaid losses Dec. 31 of pre-
vious year .........................      229,915 491 .
Balance ............f $1,199,747 501 ...........
Add unpaid losses Dec. 31, end of thej1
year ...                                  291,075 54                .........1
l_             I.. . . . . ...  I
Losses incurred during the year ......2............... 5$1,4 9,823 044.
.                I $14083       I      .
* !I II
UNDERWRITING EXPENSES.
Underwriting   expenses paid    duringj                              I
the year ............................ 1$1,228,447 901 ...........     1 
   .   .
Deduct underwriting expenses unpaid                   I
Dec. 31 of previous year............I      28,781 53j.
Balance ............      ...... $1,199,666 071 ....       ........ I .
Add   underwriting   expenses   unpaid                I              I
Dec. 31, end of the year.............      38,552 731.   .............I..............
I-             I             I
Underwriting expenses incurred dur-I1                 i              I
ing the year .............................            11,238,218 801 ..............
Underwriting losses and expenses....I..............I..............     2,729,041
84
Loss from    underwriting   during  the|                             I
year  .  -. --.           ....... --  -.1.-.1                . -. -. 1  $188,166
  86
INVESTMENT EXHIBIT.              I
Interest and Rents.
Interest, dividends and rents incurred
during the year ..........               $334,754 8.0 ........... .l............
Interest, dividends and rents accrued
Dec. 31, end of the year ............      54,603 54 ............  ..............
Balance ..........               1   $280,151 26 .
Add interest, dividends and rents ac-I                I
crued Dec. 31, end of the year......1      50,964 911 .......       I..............
Total ...                                       1$331,116 171 ........
PROFIT    ON   INVESTMENTS.                        i
Gain from    change in difference be-l
tween book and market value dur-I                   i
ing the year ..........................   $96,543 371 ..      ..... .
Gain from other investments: Checks,I                 I
payment stopped ............       .. 1        49 741 .      ..    '    
 .
Profit on investments during the yearf ..............      96,593 Ill...........
I              I             I
Investment income earned during thel                  I              I
year ................................ ............................ 1$427,709
28