CITIZENS INS. CO.


337


UNDERWRITING AND I NYT11 ST-IETiENT EXHIBIT-Continued.




I         ~~~~~~~~~~~~~~~~~~I
INVESTMENT       EXHIBIT.
Interest and Rents.
Interest, dividends and rents received1                              I
during the year ..............      .     $30,528 50 ........        ..............
Deduct interest, dividends and rentsl                  I             I
,accrued  December 31, end     of thel               I
year ...          ...                       10, 066 301 ........
Balance ..........                    $20,462 2,01 ............ 1
Add interest, dividends and rents.ac-                9
crued December 31, end of the year         10,687 96 1     -.-.......
Interest and rents earned during thel                                I
Z~ear  ...............................  ..............   .............. 
$31,150   16.


LOSS ON INVESTMENTS.
Loss from   change in difference be-
tween book and market value dur-
ing the year .......................
INVESTMENT EXPENSES.


$9,590 00j.............
I




Investment expenses    incurred   and             II             1
paid during the year .............. ...........          974 44!.
Investment losses and expenses dur-                I
ing the year ....................... .......... ..................  10,564
44
Gain from    investments during   thel             I             I
year ... -....                                                     $20,585
72:
MISCELLANEOUS EXHIBIT.                           G Gain In  |  Loss In
.1            1  Surplus.   !  Surplus.


Dividends   declared  to  stockholdersl              I             1
during the year ...................                                     
  1 $24,OM 00
Net loss from  above ...         ................     .............. l $24,000
00
Total gains and losses in surplus dur-1              1             1
ing the year             .       .      ..........     $29,696 451   $24,000
00'
Surplus Dec. 31, 1911.. ------..     -    $1160,412 551............
Surplus Dec. 31, 1912    .     ....        166,109 001 1.
Increase In surplus during the year..1 .                .     .......   
5,696 45.
Totals...$29,696.....$29,696.I                 I
Totals ~~~~~~..              .. . .....1    $29, 696   45   .... $2.9, 696
  45-


Per cent of losses incurred to premiums earned 64.2.
Per cent of underwriting expenses incurred to premiums earned 33.7.
Per cent of investment expenses incurred to interest and rents earned 3.7.
Per cent of total losses and expenses incurred and, dividends declared to-
total income earned 97.1.