- _          WMICHIGAN FIRE & MARINE INS. CO.                       
623
MICHIGAN FIRE AND MARINE INSURANCE COMPANY
Detroit, Michigan.
Home Office, PENOBSCOT BUILDING.
LIncorporated 1880; commenced business, 1880.-]
Date of admission into Wisconsin, 1882.
President, D. M. FERRY, JR.                         Secretary, H. E. ElVERETT.
Vice President, E. J. BOOTH.                        Treasurer, F. A. SCHULTE.
CAPITAL STOCK.
Amount of capital paid up in cash ....................  $400,000 00
Amount of ledger assets December 31 of previous year ........        $1,427,039
11
INCOME.
Fire.
Gross premiums .      ..................................... $1,070,512 59
Deduct    gross   amount    paid    for   reinsurance,
$160,211.79; return premiums, $218,379.129......... . . 378,590 91
Total premiums (other than perpetual) ............              $691,921
68
Gross interest on mortgage loans ..................... $27,626 38
Gross interest on collateral loans ......   ...........      267 37
Gross interest on bonds and dividends on stocks, less
$630.83 accrued interest on bonds acquired during
the year ................ ...........................    25,294 17
Gross interest from   all other sources:  Interest of
land contracts ....................................        712 08
Total gross interest and rents ............                       53,900
00
From   agents' balances previously charged off .....................    
    1 63
Total income ..............     ..................................  $745,823
31i
Total footings ..........      ............................... $2,172,862
42
DISBURSEMENTS.
Fire.
Gross amount paid policyholders for losses (includ-
lng $52,953.02 occurring in previous years) ..........  $469,305 06
Deduct amount received for salvage. $3;405.50; rein-
surance, $93,7T3.20; discount, $654.35 ...............  97,773 05
Net amount paid policyholders for losses...................     $.371,532
01
Expenses of adjustment and settlement of losses.                        
7.323 58
Commissions or brokerage .178,515 21
Allowances to local agencies for miscellaneous agency expenses          
1.368 99
Salaries, $12,645.00, and expenses, $7,563.18, of special and general
agents .20,208 1S
Salaries, fees and all other charges of officers, directors, trustees
and home office employes......................................        2 3,
9 68(
Rents.                                                                  
4,999 92
Advertising, $2,930.62; printing and stationery, $11,856.25 .14,786 4T
*Postage, telegrams, telephone and express ..................4.174 65
Legal expenses .2,126 88
Furniture and fixtures .115 75
Maps, including corrections .3.062 r5
UnAewriters' boards and tariff associtgons .,.,,,,.,,.,,,,,,           88
to
27-n. _1e