NORTH BRITISH & MERCANTILE INS. CO.                          705
Fire department, fire patrol and salvage corps, assessments, Lees,
taxes and expenses        ............................................. 
2,854 02
Inspections and surveys        ........................................ 
    313 55
State taxes oil premiums           .......................................
 10,158; 96
Insurance department licenses aid fees ................   ...........   
  2,577 16
All other licenses, fees and taxes:
Federal corporation tax ........      ...................  $1,135 65
Fire marshal .................    .................. .       371 55
Municipal ......                       ,                     539 90
~IiF3w~di    ',1  I 1 a- | ^ -                                          
  2,047 10
Paid stockholders for interest or dividends (amount declared dur-
ing the year) .     ....................................................
 20,000 00
Agents' balances charged off .........         ..........................
    26 00
Gross decrease, by adjustment, in book value of ledger assets:
Bonds ............................................................      
  383 00
Total disbursements .$512,332 80
Balance .$2,085,175 59
LEDGER ASSETS.
Book value of bonds, $1,315,544.48, and stocks, $667,-
684.73 .......   ...................................... $1,983,229 21
Deposits in trust companies and banks on interest...        21,181 89
Agents' balances representing business written sub-
sequent to October 1, 1912 .........................      72,056 36
Agents' balances representing business written prior
to October 1, 1912 .8,201 64
Other ledger assets:
Due from other insurance companies .6 49
Philadelphia Underwriters' Association, $100; gen-
eral adjustment bureau, $400 .500 00
Total ledger assets .       ....................t.................... $2,085,175
59
NON-LEDGER ASSETS.
Interest accrued on bonds        .........................................
 18,271 66
Gross assets    ....................... ........................... $2,103,447
25
DEDUCT ASSETS NOT ADMITTED.
Agents' balances, representing business written prior
to October 1, 1912 .$8,201 64
Book value of ledger assets over market value               65,599 21
73,8S0 85
Total admitted assets ....................................... $2,029,646
40
LIABILITIES.
Gross losses adjusted and unpaid ......       .............  $2,490 00
Gross claims for losses in process of adjustment or
in suspense ................   ........................   34,269 79
Gross claims for losses resisted ......     ...............  12,140 00
Total ..                                     '        $48,899 79
Deduct reinsurance due or accrued ......       ............  9,973 00
Net amount of unpaid losses and claims ......        ..............  $38,926
79
Gross premiums (less reinsurance) received and re-
ceivable upon all unexpired fire risks running one
year or less from date of policy, including interest
premiums on perpetual fire risks, $356,156.34; un-
earned premiums (fifty per cent) ......      ............  $17S,078 17
Gross premiums (less reinsurance) received and re-,
ceivable upon all unexpired fire risks running More
than one year from date of policy, $583,426.501; un-
earned premiums (pro rata) ......       .................  330,396 62
Total unearned premiums as computed above .............      ..    508,474
79 -