1186


LUMBERME'NS MUTUAL INS. CO.


UNDERWRITING AND INVESTMENT EXHIBIT.
UNDEtRWRITING EXHIBIT.
Premiums.
Total premiums .                           $405',723 107              ....l..
Add unpaid     return  and reinsurance,'                              I
premiums Dec. 31, 1911 ...........            267 071..............I............
Total ....                           $405,990 141 .............
Deduct unpaid     return  and  reinsur-1                              I
ance premiums Dec. 31, 1912 .......           584 121.                  
.........
Balance .........................    $405,406 02 .....
Add unlearned premiums Dec. 31, 1911        182t644 711 .............
Total .       ...                    $588,050 73 .......... I..
Deduct unearned prermiums Dec. 31,1                                    *
1912 ..........................          . 195,051 691 ............ I.
Premiums earned during 1912 ......                        $392,999 041
UNDERWRITING PROFIT AND                      I                      I
LOSS ITEMS.
Gain   from   agents' balances    previ-               I
ously charged off ............                $28 231 ....           .
Agents' balafnces and bills receivable]                I             I
not admitted Dec. 31, 1912 ........            67 051.
Loss from    underwriting   profit andi
loss items ..........................          ......         38 821.
Underwriting    income earned    duringl               1
1912 ...............I..........          ..........................    $392,960
22
LOSSES.
Losses paid ...               I.            $142,317 85 .............. ...........
Deduct unpaid losses Dec. 31, 1911 ..f        7,620    ............   . 
  .
Balance .          ... .             $134,697    ............. -   .    ..
Add unpaid losses Dec. 31, 1912 .......      19,085     .............. ..............
Losses Incurred during 1911..                         1   $153,782 85 ..............
UNDERWRITING EXPENSES.
Underwriting expenses paid during1                    I.
1912  ................................    $80,289  59               ..............
Deduct underwriting expenses unpaid
Dec. 31, 1911..                             6,620 40
Balance.,2                                     40
...       ... ... ... .. ....  l   .73,669   19  .. . . .. . .  -...-..-...-*...-1...
-* **
Add   underwriting    expenses   unpaid                I $
Dec. 31, 1012 .......................       6,378 04 ......          .
Underwriting expenses incurred dur-I
ing 1912 ..............................     ...           80,047 23 .
Underwriting losses and expenses ................ -..........           
 233,830
Gain from   underwriting during 19121 ............                      1
  9,s0 14