; TANDARED MARI4E 11S. 00.                           1091
1UNDEIIW11I'TINCG, AND    INVIEiST'118MENT EXHBI'T-Continued.
UND)EICIWRITING PROFIT AND           1
L(OSS ITEMS.
Loss from   agents' l)alances chargedl
,ff ............... 4'';8..........            950 47 ........ .        
  .
Agenits' balances and bills            I
ieoelvable not admitted              I
Iee. 31, 1911 . ...........  $3, 125 281.........
Agents' balances and bills
receivable not admitted              1
1)ec. 31., end of the year   2,251 941--..............      ---.--1- ...........
*                  _    ~   ~~        ~ -III
Gain from above .8...................           873 34l1 .............. 
  ........
I       ___II
Loss from    underwriting   profit andl               I             l
loss items .                 ---       ..............        17 131
Jlnde'erwriting income earned   duringi               I             I
the year             ...                                            $1,211,942
74
I              II
Losses paid .                           I  $726,087 761. ............ . .............
D)educt salvage and lremlnsuramaiie  re-I             I             I
coveLable Dec. 31, end of the year. .       8 38,348 271 .........   I
I     _      _I         .
Balance ........................     $687,739 491 .........     I
Add salvage and reinsuralnce recov-I l                              I
era-ble 1)ecember 31 of previous yearI     22,021 221 ...........   I
Total ...                            $709,760 711 ........      I
Deduct unpaid losses D)ecember 31 ofi                 I             I
lrevious year ...................         222,949 281 ...........  I
- l                    I
Balance ......                       $186,811 431 ........       l    .
Add unpaid losses December 31, endl                   I             I
of the year ........................ j 165,211 00°1 .......         1
I-I                    I
Losses incurred during the year ....I........... 1.1     $652,022 431.
17~~~~~~~~~
UNDERWRITING EXPENSES.              I              I
Underwriting   expenses paid    during                I             I
the year.                                $204,797 631 .           I..............
Deduct underwriting expenses unpaidl                  I             I
D)ecember 31 of previous year    .         25,714 141 ........      I
Balance ........................      t179,083 491.           I.
Add   underwriting   expenses   unpaidi               I
December 31, end of the year ...... '      41,138 171 ..
Underwriting expenses incurred dur-1                  I
ina  the year ..........................      ..... I  220,221 661.
Underwriting losses and expenses ....       . ............I..............
1  872,244 09
I              I             I          _
(GaNiun  from  underwriting during thel               I             1
year .!..............I *............. ..............                  $339,698
65
INVESTMENT EXHI1IIT.             I                            I
Interest and Rents.           II
Interest, dividends and rents receivedl              I              I
during the year ..............       l    $99,614 381 ........      I
Deduct interest, dividends and rentsl                 I
accrued  December 31, end of thel                   I             I
year .               .                      8,656 031 ......        -
Balance .....                         $20,958 351 ........      I
Acid interest, dividends and rents ac-I               I             I
erued December 31, end of the yearl         7,846 031.
Total  ........................I.. I............   $28,804 381.