CALIFORNIA     INS. CO.                           311
UNDERWRITING       AND INVESTMENT EXHIBIT-Continued.
_              I_
INVESTMENT       EXHIBIT.         I             I
Interest and Rents.                          I             I
Interest, dividends and rents received1
during the year .         ............. .. i 1  $56,353 08 .......   l----------.--
Deduct interest, dividends and rentsl                 I
accrued  December 31, end of thel
year .................I                     5,434 071 ...........-I.........
Balance .$50,919 1 .........- I..............
Add interest, dividends and rents ac-I                I
crued December 31, end of the yearl         9,994 38 ..
Interest and rents earned during the.
year ............................... I..............    $60,913 391 ..  
.   .
PROFIT ON INVESTMENTS.             I              I              I
Gz ain from sale of ledger assets.     I       $372 501             I
Gain from   increase in book value ofl                I
ledger assets .................       l   22,886 021 .......       I
Gain from other investments. viz.: At-!
Ianta  Birmingham, $2,500.00; fur-I
niture and fixtures, $5000.00 ...... 1      7,500 001 ......        I
Profit on investments during the yearl .............. l    30,758 521.
Investment income earned during thel                                 I
year                                                                   $9...........................
l.,....... .......-.-.. l  $i1,071 91
LOSS ON INVESTMENTS.              I              I
Toss from  sale of ledger assets ......        $30 00       .       I..............
Loss from   decrease in book value of!                I
ledger assets ..........                   10,7 95......
Loss from    change in   difference be-!              I
tweeli book and market value dur-l                  I
lng the year .........               1     21,110 601 .......       1
Loss from    investments during     thel              I
year ..                               $.....1.,33........
INVESTMENT EXPENSES.              I              I
Investment   expenses    incurred  andl               I
paid during the year                .       .       I     S..90......  ..l...906
 ..! .
Iive.stment losses and expenses dur-!                 I             1
ing the year .........     .                               .    . .!    40,245
41.
Gain   from  investments   during   thel
year .........                        .             *.*...I $51,426 50
-~~~~~ I -===-                       …====!====
MISCELLANEOUS EXI-IIBIT.            I             I   Gain In    I  Loss
In
I          t~~ Surplus.  I  Surplus..
Dilridends  declared  to  stockholdersl I             I
during the year .....         .......................                   
   0
Net loss from above .....................     .    .     .      l  $60.000
00
Total gains and     losses in   surplusl              I
dluing the Year               .I............ . l       $117,156 831    $60,000
00
'q 111'W ills  D o .  11  Ia                Q)  q.  1 - (z   ./ l  ............................................
. .
Surplus Dec. 31. 1912           ................  275,292 321 .
*  -I                                                            I
Increase in surplus during the year................ I.    . . ............
      83 57,155 .3
*                                 1              1             I        
 -
Totals         .          ..     . ....            $117,155 831   $117,155
X3
Per cent of losaeq incurred to premiums earned 50.70.
Ter cent of underwriting expenses incurred to premiums earned 37.88.
Per cent of investment expenses incurred to interest and rents earned 14.63.
Per cent of total losces and expenses incurred and dividends declared to
total income earned 91.50.