CITY OF NEW    YORK INS. CO.                    343
UNDERWRITING AND INVESTMENT EX. -HIBIT-Continued.
INVESTME1NT EXPENSES.
Investment expenses Incurred    and
paid during the year .............. ...........     1,619 401 ..............
Investment losses and expenses dur-|                         I
ing the year ..............           ......... ............ . .   1,650
65
Gain from   investments during thel
year ... ... ... ... .... ... ... ... ... .... .  . ... ... ...   $56,260
  421
MISCELLANEOUS EXHIBIT.                         Gain in  I  Loss In
Surplus.  I Surplus.
Dividends declared  to stockholdersl
during the year .       -        -         -        - - . .-.......... .
. .---1. .   $50,000 00
I II
Net loss from above .............     .     .    .     .      -  $50,000
00
Total gains and losses in surplus dur-1         L
ing the year .......   .      ..........           $56,260 421  $79,857 05
Surplus Dec. 31, 1911 ................... $328,261 6 5 ...........
Surplus Dec. 31, 1912 .................  304,665 02! .........   1
Decrease in surplus during the year      . .         23,596 631.............
Totals .......................... ..........   $79,857 051  $79,857 05
l_            -          ~      ~     ~      ~     ~~~~~~~~I  I  I
Per cent of losses incurred to premiums earned 53.6.
Per cent of underwriting expenses incurred to premiums earned 51.7.
Per cent of investment expenses incurred to interest and rents earned 02.9.
Per cent of total losses and expenses incurred and dividends declared to
-total income earned, 103.7.