546  MUT. COS. MAINTAINING UNEARNED PREMIUM RESERVE.


UNDERWRITING AND INVESTMENT EXHIBIT-Continued.
INVESTMENT EXHIBIT.
Interest and Rents.
Interest, dividends and rents receivedl
du11ring  the   year   .. .. .. . .. . . 2 32 31.. .. . .. .I. . . . . ..
Deduct interest, dividends a    .2d re1tsl   I.
acerued l)ec. 31, 1912 ..........   1 ,130 7oj ..     .... .i
Ba lance ........   ..      ..          1
Add interest, dividends and rents ac-I  $1,195 611.
crued Dec. 31, 1912 ..I.......         031.421 ....... [.......
Totatl..I............            $2,127 ;03 ........ .......
Deduct hiiterest and rents paid in ad-I                   I
vanice Dec. ~31, 191.2 ..........       28 ~.0 .......I.....
Interest ,and rents earned during 1912J.      ...............  $2,099 03
MISCELLANEOUS EXHIBIT.        I           I   Gain in     Loss in
I           I surplus.   i surplus.
Sale   of   bonrds       . .....................                     78
Total galils and losses in surplus dur-I          S
ing. 1919                           $24,001...  ........ 6909'1  $j18
Surplus 1)ec. 31,   ....1911...  .     4,0     $6051181
Sulrplils Ie. 31, 1912 ..................I  24,983 36 j....
Increase in surplus during 19t2 ................... ............   1. 7:1
'otf.ls ..                     .   .           $2,099 81!   $2,099 81
:_--                    ~~~~~~~~~~~~~~~~~~~~~~I   I
Per cent of losses incurred to premiums earned 53 per cent.
Per cent of tnderwisitiiig expenses incurred to premiums earned 47 per cent
Per cent of total losses Dand] expenses incurred and dividends declared to
total
income earned 104 pe.z- cent.x