CALUMtT INS. CO.                           317
UNDERWRITING AND INVESTMENT EIXHIBIT-Continued.
PROFIT ON INVESTMENTS.          I
*                     ~      ~      ~      ~     ~~~~~~~~~~~~I  I  I
Gain from sale of ledger assets .....I.............1  4,861 251.
Investment income earned during thel            I            I
year.....................                     .      .         $31,081 14
I                        I
LOSS ON INVE1STMENTS.         I            i
..  .                ~      ~     ~      ~     ~~~~~~~~~I  I  I
Loss from sale of ledger assets    .      $162  ............................
Loss from  change. in difference be-                         I
tween book and market value dur-I
ing the year..... I             ..    19,52 65; ............. .
Loss on investments during the yearl ............  ..............  19,415
00
Gain from   investments during the              I
year  .............. .....            .......  .. .            $11,666  14
MISCELLANE13OUS EXHIBIT.                        Gain in  I   Loss in
I            I  Surplus.  I  Surplus.
Total gains and losses in surplus!                 S         1
during the year .       ............   .      I   $23,795 321.
Surplus Dec. -31, 1911 .1.............  $47,177 9
Surplus Dec. 31, 1912 ...............   70,973 27 .
Increase in surplus during the year.. .   .      . .   ....      $ 23,795
32
I            I -
Totals .... 1                                 $23,795 321  $23,795 32
Per cent of losses incurred to premiums earned 61.42.
Per cent of underwriting exoenses incurred to premiums earned 36.06.
Per cent of total losses and expenses incurred and dividends declared to
total income earned 91.07.