3i)8


DETROIT FIRE, & MARINE INS. CO.
UNDERW11TING AND INVESTMENT EXHIBIT-Continued.


INVESTMENT EXPENSES.
Investment expenses paid during thel
year ......          ...                 $4, 607 12
Add( investment expenses unpaid Dec.1
31, end of the year ..................    7,650 00
Investment expenses incurred duringl
the year ..........                  .
Investment losses and expenses dur-|
Ing the yeat ...         ....... .           .
Glain from   investments  during   thel
year .............................
MISCELLANEOUS        EXHIBIT.
Dividends paid to stockholders duringl
tlme year ...           ....... .            .
Net loss  from  above  .................. . . ..... ....
Total gains and losses in surplus diir-I
ing the year ..........              .
Surplus Dec. 31, 19l1 .................. $1,044,333 66
Surplus Dec. 31, 1912 .                 1,043,107 36
Decrease in surplus during the year................
Totals ... j                            .


12,257 1121..............


16,315 73


. .  . . .. ..  '.  $78,692  56
G(ain in  I   Loss in
Surplus.   I  Surplus.
l........... .  l $60,000  00
I         ~I        __
.I $60,000 00
$78,692 561  $79,918 86
1,226 301..............
$79,918 861   $79,918 86






Per cent of losses incurred to premiums earned, .551.
Per cent of underwriting expenses incurred to premiums earned, .451.
Per cent of investment expenses incurred to interest and rents earned, 12.8.
Per cent of total losses and expenses incurred and dividends declared to
total
income earned, 101.