PRUSSIAN     NATIONAL     INS. CO.                    10111
UNDERWRITING AND INVESTMENT EXIHIBIT-Continued.
LOSSES.                                              t
Losses paid ...........................    $564,863 951 ......... j
Deduct salvage and     reinsuranlce  re-;                            I
coverable Dec. 31, end of the yearj        62,136 5    .
Balance .                            $502,727 40.-......................
Add salvage and reinsurance recov-l
erable December 31 of previous yearj       53,817 251 .........     I
Total ..........................     $556,544 651 ......
oecluct unpaid losses December 31 ofj 1
previous year ...................... l    174,391 311 .........
dBalanc.e . -                     1 $382,153 341.
Add unpaid losses December 31, endl
of the year .................         I  ...... 172,608 871 ........ o  
. . o}oo.
Losses incurred during the year .       I .              $554,762 21.
I                            I
UNDERWRITING        EXPENSES        I              I             I
Underwriting    expenses paid   duringl               I
the year ............................I $495,391 631. *    o o   o      o
o o -  -   - -
Deduct underwriting expenses unpaidl                  I
December 31 of previous year .             24,864 101......... ....     
   .....
Balance .........................    $470,527 531 .....
Add   underwriting   expenses unpaidl                 I
December 31, end of the year ..... 1       26,835 241 .....................
IUnderwriting expenses incurred dur-1           .         4
ing the year ..........................
UnderwNriting losses and expenses ..............        .              1,062,124
98
Gain from   underwriting during thel                  1             i
year  .   . ; ...........................-I.......                     $
- --@ -  $1 3,613 8@
INVESTMENT EXHIBIT.
l              I
Interest and Rents.
Interest, dividends and rents redeivedl
during t~le year .............        I -   $62,956 501..... ..............
Deduct interest, dividends and rentsj                 I
accrued  December 31, end of thel                   I             I
year .......                             1 15,160 171 ........ o
Balance           .         .....|    $47,796 331 ........  ..............
Add interest, dividends and rents acl-
crued December 31, end of the yearj        14,980 17j .   ....
Tltal ..                          .                 $62,776 501
*                      I           '~~~~~~~~~~I      I
PROFIT ON INVESTMENTS.             I              |
Gain from   increase in book value of|                              I
ledgter  a ssets ........... . . . . .  I I  l     1     1,277  75'1  ..
 . . ..o
Investment income, earned during the|                       1   7       
 6
year ...................$0............                                  
      25