522                      GRANITE STATE FIRE INS. CO.
UNDERWRITING AND INVESTMENT EXHIBIT.
[JNDl!ItX   ITWlTING  EXI-IB1       11T.
Premiums.
Tlotal )   illllls ...................... .  $56a,152 581 ....          I..............
Add uupaid return      and  reinsurancel                I              I
premiums Dec. "1 of previous year ..1        5,880 28j ............
.
Total ..                              $574,032 861 .             I..............
D)(duct unpaid return and reinsurancej
prenuiulus Dec. 31, end of the year ...j     6,998'671 ...........   I
Balance   ......$56................. 1  $567,034 191 ...........  I     .
Add unearned     premiums Dec. 31 ofl                   I              I
previous year ...........              1   562,502 561 ...........   i
Total ...            ........ 1$1,129,536 751 ...........        I      
.
Deduct unearned premiums Dec. 31,1                      1
end of the year .............              559,544 841 ........       .
Premiums earned during the year .... ....               I   $569I991 91 
.....
UNDERWRITING PROFIT AND
LOSS   ITEMS.                              I
Gains   from    agents' balances    pre-1j              I
viously charged oi    .......l.                 $7 201 ....           ..............
Loss from agents' balauces charged oflf            23 75-.
Loss from above .....................            $16 551 ........
Agents' balances and bills
receivable not admitted                I
Dec. 31, 1911 ............      $47 411 ............. I   .     .   . ...........
Agents' balances and bills
receivable not admitted                |      .                      I
Dec. 31, end of the year..       115 14 .             I.     .         I..............
I      I              I               I
Loss from   above............                      67 731.......
Loss from    underwriting    profit andl
loss items ..................          ..............           84 281 ..........
Underwriting    income   earned   duringi
the year ...................................       .     .............. 
$569,907 63
LOSSES.
Losses paid ...........    ...............  $330,128 09 ....   ...... ..............
Add salvage and reinsurance recover-
able Dec. 31 of previous year ........          44 001 .              ..............
Total .. .                            $330,172 09. .
Deduct unpaid losses Dec. 31 of pre-
vious year .............   .............    45,334 91 .                '
Balance ..........I....               $284,837 1S .........       .
Add unpaid losses Dec. 31, end of the         5          6
year  ................................
Losses incurred during the year ....... . .............    $337,430 781.
UNDERWRITING EXPENSES.                                              i
Underwriting    expenses paid     duringf
the year ......             .             $214,162 45 .
Deduct underwriting expenses unpaid                                    I
Dec. 31 of previous year ......  .......     9,977 45 ....        ......
.
Balance ......                        $204,%85 001 .
Add   underwriting    expenses   unpaid                 I              I
Dec. 31, end of the year .............       9,310 38 ......         I
-.                 I
Underwriting expenses incurred dur-                     I
ing the year ......... !                       1          213,495 381.