764                           1I1QOENIX INS. Co.
UNDE1R WRITING AND INVESTEIENT EXHIBIT--Conftinl.
UNDERNWRITING EXPENSES.             !                           I
Lnd.Ierwritin- expenses paid   duringj
19,,T12 _  . . . . . . ,  . ..... .. .... .... |  $2,_ 041,582   98| ..............
I...
De(luct underwriting expenses unpaidl                I             L
l)eeemher 31, 1911               .    190,000,00 .
Balance    - . -     -  .-------.I $1,851,582 981.............................
Add   underwriting   expenses unpaidl                I
Decenbl)er 31, 1912 .............   -    1!00,   'f0 .--- .- I..............
Underwriting expenses incurred dur-H                               I
Pg1912 ......................12,041,582 981........
I      I                     I
Underwriting losses and expenses       ..............--l-------------  4,634,488
51
Gain from  underwriting during 1912 ..............            ..... I  $459,050
91
INVFSTMENT EXHIBIT.                           -
'I             Ii
Interest and Rents.          I              l
Interest, dividends and rents receivedf              1
dlurirng the year ..............  .     $450,934 611 .........    I
Deduct interest, dividends and renitsl                             l
acerued December 31, 1911 .........-      84,894 391..............I..............
Balance .........                   $366,040    ........
Add interest, dividends and rents ac-I                                  
       *
clued December 31, 1912..                 90,011 O..........       .........
.....
Total                    .          .         I $456,132 231 .
I      I~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
PROFIT    ON INVESTMENT.          j                            t
Gain from   sale of ledger assets .....    $5,0,3511 441 ........... ................
(Gain from  other investments ........       7,070 °001 ...........
Increase value real estate over bookl      *         I
v.alue  ............................... |  1,  ,00   °*.
Profit oil investments during 1912 .... I............... 1  5 8,921 441 .--.--.---
Inveshlnent incomne earned1 (dnring 19121 .............. I..............
 1  ($,51,053 67
I             I
LOSS   ON   INVESTMIENTS.         I             I              I
Loss f romi sale of ledger assets .         $2,112    ..............5I..............
lss from   change iii (litterence he-1              1             1
tween hook and market value duri-1                               I
ing 1912 .....-.-..-                    ---------- 121,36i9 351 ........
  ,. .
Loss* onl investmeiontls durl1in-g 1912  ...I.............. I  $123,4881
8.. ..
l  ~      ~~             I
INVESTMENT       EXPENSES.        I
Investinent expenses paid during 1912.1 .                 17,116 891.
Inuve-Atnlent losses and expenses dur-                             I
lug 1912 ...........................d .        .... ....             140,598
74
Gain from investments during 1912        .        ...................* $374,454
93