86      REPORT OF THE COMMISSIONER OF INSURANCE.


Disbursements
Gross losses paid subscribers ........... .................  $22,673.80
Commission paid attorney ............................       38,699.43
Dividends returned to subscribers     .      ...........    65,789.24
Advisory committee expenses:
Expenses of advisory committee .......    $2,181.25
Exchange .............   ...............       9.05
Legal expense .........   ..............     977.71
3,168.01
Total disbursements ...........   ..................  $130,330.48
Balance  ............    ....................  $603,831.05
Assets
Cash in banks .......................                     $167,642.51
Mortgage loans, first liens .............................   25,000.00
Book value of bonds ...................................    351,477.00
Bills receivable ............   ..........................   1,383.60
Subscribers' debit balances .......   .....................  58,327.94
Total ...............   ...........................  $603,831.05
Non-Ledger Assets
Accrued interest on mortgage loans ....................        562.50
Accrued interest on bonds .......     ......................  4,741.89
Gross assets .       .-' .....           ........   $609,135.44
Assets not Admitted


Bills receivable ..........................
Deposit premiums 90 days over due........
Book value of bonds over market value...,.


$1,383.60
4,607.80
3,311.00


9,302.40
Admitted assets ................................  $599,833.04


Liabilities
Unpaid claims in proces of adjustment.................
Reserve for annual deposit premiums amounting to
$408,551.26 less 25%, which is the provision for ex-
penses, at 50%o, according to section 1915m of the in-
surance laws of Wisconsin for 1913................
Reserve for deposit premiums running more than one
year from date of contract, amounting to $6,786.39,


$25,967.00
153,206.72


p
Unpai
Unpa
Surpl


ro rata .    .........................................   2,903.23
id commissions due the attorney ..................      14,927.87
id reinsurance against excess losses .....   .........   5,807.82
Total liabilities except surplus and reserves .... ..  $202,812.64
us belonging to subscribers ..................... .   397,020.40
Total liabilities ...........  .....................  $599,833.04
COMMENTS -ON FINANCIAL STATEMENT


At the beginning of the year the ledger assets were
i$055,189.43,  the  income  $178,972.10  the  disbursements