t1o     R1PORT Of THI, COMMIS'SONER OF 1NStJ1ANOCI.
$53,745.61 and the advisory committee expenses $2,817.67. The
ledger assets consisted of cash in the hands of the attorney or
deposited in banks, amounting to $504,597.88. The various
banks in which the funds were deposited is shown in the financial
statement.
The bonds of the company had a par value of $251,000 and
a book value of $-256,361.75. The bonds are as follows:




Par value.
1. Louisiana, state of, Port commission, 5
per cent J. J1. July, 1924 and July 1959.  $50, 000
2. l)allas, city of, public school, building,
*4 per cent, M. & N. G., lMlay 1, 1937, op-
tional as follows:                         40,000
1930 .$5, 000
91       .       5,000
1932.      ......... 30, 000
3. Omaha, city of, water works, 41 per cent,
J. & J., Dec. 15, 1941 .............. ......  40,000
4. Los Angeles, city of, electric plant, 4i
per cent, D. & J., June 1, 1941            50, 000
5. Sedgewick, county of, Kansas, railroad
aid, issued to the Wichita & Midland
Valley It. It., 4 Per cent, M. & N., Nov.
1,1931 .......................................  16,500
6. The uanada Southern Ry. Co, consoli-
dated, guaranteed, 5 per cent A. & O.,
Oct. 1, 1962, series A, 55 year............. 25, 000
7. Kansas bity Terminal, 1st mortgage,
guaranteed, 4 per cent, J. & J. Jan. 1.
T960 '.1 30,000
Totals  .................             $251, 000


Book
value.


Rate.


$54,787 50
40,448 00


105
98


40,650 00    99
50,000 00    95
15,551 25    92
26,500 00   104
28,425 00,   90
$256,361 75 ........


Market
value.
$52,500
39,200
39,600
47,5.00
15,180
26, 000
27,000
$246, 980




The difference between the book value and the market value
is $9,381.75. This amount has been deducted under assets not
admitted.
The subscribers' debit balances amount to $105,344.68, and the
amount due ninety days or over was $15,018'.68. As the sub-
scribers are all large manufacturers having a commercial rating,
these accounts are undoubtedly good, but it would seem to be
for the best interest of the exchange if collections were made more
promptly.
The unpaid and unadjusted losses are $3,420.49. The names
of the insured, the time of fire, and the amount unpaid is shown
in the following statement: