* 0             LUMBERMENS INS. CO.                                 591
UNDERWRITING AND INVESTMENT EXHIBIT. /
UNDERWRITING EXHIBIT.               I
Premiums.
Total    premiums,     $244,296.52,  less
$7,694.75 ............................I   $236,001 781 .........      I 
.     .
Add unpaid     return  and reinsurance
premiums Dec. 31 of previous year..            225 46 ..      ........
Total .....................           $236,827 24 ...........................
Deduct unpaid returim and reinsurancew
premiums Dec. 31, end of the year..            380 59! ........
Balance .....                         $236,446 651 .
Add   unearned premiums Dec. 31 of1                     |
previous year, and     $185,900.76 re-I
claimable on perpetual insurance ....      450,540 771.I.
Total . .......................... 1  $686,987 421 .........
Deduct unearned premiums Dec. 31,1                     I
end of the year and $182,006.86 re-I                 I              I
claimable on perpetual insurance ... 1     447,206 961 ..........
Premiums earned during the year .        ....              $239,780 461.
UNDERWRITING         PROFIT     AND    1              I              I
LOSS ITEMS.
Gain from other underwriting incomel             $90 501 ...........    
       ......
Agents' balances andl bills receivable!                 I
not admitted Dec. 31, 1911 ...........         1128 431 ....          ------.
Gain from    uinderwriting- profit andI
loss items         .           ......... ............         218 931.
I       I                     I
Underwriting Income earned during                      I
the year                             .       .        .       .         
$239,999 39
LOSSES.                  I                             I
Losses paid..                           1 $135,310 261.
)ed uct uinpaid losses Dec. 31 of pre-I                I              I
vious year .....................            29,852 381 .......................
   .
Balance ....................... 1     $105,457 881 .
Add unpaid losses Dec. 31, end of the!                 I               I
year ............................     .     15,274 55!. ..
qqsses incurred during the year ......I.............. 1   $120,73  431
UNDERWRITING EXPENSES. -                            I               I
*           z              ~       ~      ~~~~I  I
Underwriting    expenses paid    during!                1
the year .....I-.                .      1  $108,717 471 .......................
  .
Deduct underwriting expenses unpaidl                    I              I
Dec. 31 of previous year ............        4,206 841..
Balance ...................... 1      $104,510 63!.
Add   underwriting    expenses   unpaid!                I              I
Dec. 31, end of the year ......I.            4,594 201 .
I  .       l I
Underwriting expenses incurred dur-! 1
ing the year ..          ....... .                    1   109,104 83.
Underwriting losses and expenses .....    .............        .........
  229,837 2Q
Gain from    underwriting   during the!                                I
....................     .....  ....-.-....   ..........   .     $1  ,1621
3
' !  ....,  .  -S= =15SfSFS~lZ: z--.- . -Z   z  ftt