704              NORTH BRITISH      & MERCANTILE INS. CO.
NORTH BRITISH AND MERCANTILE INSURANCE
COMPANY
New York City.
Home Offlce, 76 WILLIAM     STREET.
hi-,
[Ilicorporated 1897; commenced business 1897; admitted December, 1898.]
President, E. G. RICHARDS.                    Vice President, J. F. HASTINGS.
Secretary, J. F. HASTINGS.
CAPITAL STOCK.
Amount of capital paid up in cash ........   ..........  $200,000 000
Amount of ledger assets December 31 of previous year ............ $1,953,828
910
INCOME.
Fire.
Gross premiums .............     .........................  $929,819 22
Deduct gross amount paid for reinsurance, fire,
$186,350.75; return premiums, fire, $178,765.82 ......  365,116 57
Total premiums (other than perpetual)                          $564,702 65
Gross interest on bonds and dividends on stocks, less
$949.47 accrued interest on bonds acquired during
the year ...........................................   $78,410 65
Gross interest or deposits in trust companies and
banks ........................                             519 89
Gross interest from all other sources:
General adjustment bureau     ........       $40 00
Philadelphia Underwriters associa-
tioa: ...............................        6    30
46 30
Total gross interest and rents .......      .......................  78,976
84
Total income .      ...............................................  $643,679
49
Total footings .     .............................................. $2,597,508
39
DISBURSEMENTS.
Fire.
Gross amount paid policyholders for losses (includ-
ing $57,947.97 occurring in previous years) ..... ....  $344,069 70
Deduct amount received for salvage, fire, $2,299.57;
reinsurance, fire, $66,618.13 ................. . .......  68,917 70
Net amount paid policyholders for losses .......    .............  $275,152
00
Expenses of adjustment and settlement of losses .....      ............ 
5,239 92
Commissions or brokerage ...................... .........................
 145,462 29
Allowances to local agencies for miscellaneous agency expenses ...      
1,396 21
Salaries, fees, and all other charges of officers, directors, trustees
and home office employes ..........      ...............................
 23,748 88
Rents ...............................................................   
2,349 90
Advertising, $418.35; printing and stationery, $5,020.40 ..... .......  5,438
75
Postage, telegrams, telephone and express ......       ...............  3,103
06
Furniture and fixtures ............     ..............................  
1,857 55
Maps, including corrections ...................3.............           
  390 43
Underwriters' boards and tariff associations .9,834 02