634              MINNEAPOLIS FIRE & MARINE IN S. CO.
UNDERWRITING       AND INVESTMENT EXHIBIT-Continued.
LOSS ON INVESTMENTS.                         l
Loss from sale of ledger assets ...$562 501.                            .......
INVESTMENT EXPENSES.            l
Investment expenses paid during the
year .        .           ........                      533 41..
Investment losses and expenses dur-.
Ing the year .......................I     ....... ......            1.095
91
Gain from   Investments during   the!
year ............................... ..l.l$26,801 27
MISCELLANEOUS EXHIBIT.           I             IG ain in        Loss in
I             | Surplus.   | Surplus.
Dividends declared   to  stockholders!
during the year ..                              ................  $20,000
00
Gain from  other sources:  Taxes on! I
real estate returned  through   re-I            I
demption of foreclosed mortgage...I..............I      $97 40!.
Net loss from  above ..................I.............. I...........  $19,902
60
Total gains and losses in surplus dur-I           I
ing the year ....... ........-                      $47,491 791   $19,902
60
Surplus Dec. 31, 1911 ....   .          $172,9S1 02!.... .............
Surplus Dec. 31, 1912 .  .... ......     200,570 211 .......... ..............
Increase in surplus during the year..                                27,589
19
Totals        .         .      .     1        1 $47,491 791 $47,491 79
Per cent of losses incurred to premiums earned, .697.
Per cent of underwriting expenses incurred to premiums earned, .472.
Per cent of investment expenses incurred to interest and rents earned, .0219.
Per cent of total losses and expenses incurred and dividends declared to
total
income earned, .848.