MANNHdiM Ii4S. W.                               1087
UNDERWRITING AND INVESTMENT EXHIBIT-Continued.
INVESTMENT EXHIBIT.
Interest and Rents.           I
Interest, dividends and rents receivedi      2                       I
during the year ....................       $21,295 8.
Deduct interest, dividends and rents                   II
accrued Dec. 31, 1911 ......                 6,408 331 ...........  1
Balance   ....$1,8                             50*..................1 . 
..............
Add interest, dividends and rents ac-I                 I             I
crued Dec. 31, 1912 ............      j     7,616 671.............. I.............
I              I              I
Total ............................ .....  .I........                $22,504
17
*         ~      ~I      1I             I
LOSS ON INVESTMENTS.               I                            I
Loss from    change in diference be-
tween book and market value dur-1                    I             I
Ing the year ........................ .............       $4,659 501.
I          l     ~      ~~~~~~~ I
INVESTMENT EXPENSES.                      I                      i
1              1              1
Investment expenses paid during 19121 .............. 1          805 621.
Investment losses and expenses dur-I                                 I
ing 1912 ..... ..........                                       1....   
 5,465 12
I                             I I...._
.Gain from Investments during 1912 ................................I    
 $17,039 05
MISCELLANEOUS EXHIBIT.              I                 Gain In     I  Loss
in
I   Surplus.      Surplus.
Receipts from home office .............3.............                   
    . $12,406 30
Remittances to home office.: ..........   ...............I...           
$112,258 60
Net loss from   above ......    .........                               
 $99,852 so
Total gains    and  losses in   surplus§
during 1912 .........................                   $131,837 551    $99.852
30
Surplus Dec. 31, 1911...$15626309...                      ..........I..............
Surplus Dec. 31, 1912 .................     188,248 341 ...........
Increase in surplus during 1912                .         .I             
  31,985 25
'lotals .        .        .I .                      $131,837 551 $131,837
55
_                 ~     ~     ~~I .I            1        ____
- Per cent of losses incurred to premiums earned, 62.6.
Per cent of underwriting expenses incurred' to premiums earned, 30.1.
Per cent of investment expenses incurred to interest and rents earned, 3.5.
Per cent of total losses and expenses incurred and dividends declared to
total
Income earned, 90.7.
52-Ins.-1