298                    BUFFALO COMNMERCIAL INS. CO.
UNDERWRITING AND INVESTMENT EXHIBIT.
UNDERWRITING EXHIBIT.               I
Premiums.                 I              I
Total premiums ........2...... |            $82,746 031 .............
Add unpaid     return  and  reinsurancel
premiums Dec. 31 of previous yearl             365 541 ............ I
Total .............         ......| $283,111 571 .........       I     .
I)educt unpaid    return  and 'reinsur-l               I
alve, premiums Dec. 31, end of yearl           195 90 l......................
Balance            ....               $282,915 67j ..........|
Add unearned     premiums Dee.        of |                           .
previous year ......................       311,504 36j .........     .
Total .........                       $594,420 031 ........     I
Deduct unearned     premiums Dec. 31,                  I              I
end of the year ........                   278,532 5;.1 >.
Premiums earned during the year .............. 1          $315,887 511 ..........
 .
UNDERWRITING PROFIT AND
LOSS ITEMS.
Gain   from   agents' balances    previ-J
ously charged off ............                 $18 46.
Loss frorzg~jts' balances charged off             58 63.
Loss from above      .      ..............       $40 17 .
Agents' balances and bills              I              I
receivable  not admitted              I              I
Dec. 31, 1911 ...........      $110 141 .........
Agents' balances and bills
receivable  not admitted                                            |
Dec. 31, end of the year        131 85.     .......... I........... ..........
Loss from   above ......................          21 711 ...          I....-......
I       .      I
Loss from    underwriting    profit and                I
loss items .''.                                                61 881.
Underwriting    income earned    duringi
the year ............                 I              I                 $M5,825
63
LOSSES.                                                   $         63
Losses paid    .......... I............$219        1 65.........
Deduct unpaid losses December 31 of
previous year ...........31...........      31,507 071               ...........
Balance               .........       $18',404  1 ...........  I
Add unpaid losses Dec       ber 31, end
of the year ............    ........        2!3415 32...
Losses Incurred during the year        . ..............    $216,909 sol ..........
UNDERWRITING EXPENSES
Underwriting    expenses   paid  during                I              I
the year   ...........................    $121,836 161 ...........
Deduct underwriting expenses unpaid                    I
December 31 of previous year ......          4       ..............
Balance   .........................   $117,201 7'01 ........  . I      .
Add   underwriting    expenses   unpaid                I              I
December 31, end of the year ......          4,804 101 ......        I
Underwriting expenses Incurred dur-l
ing the year ....................... ......              122,005 801.
Underwriting losses and expenses                   .      .     .      |
 338,915 70
Loss from    underwriting   during   the,
year   ..                             I.............. ......        I   $23,090
07
*~ ~ ~   ~    ~  ~~ 1====1-==- - -- -              - -- -