NORTHERN INS. CO.                            719
UNDERWRITING AND INVESTMENT EXHIBIT-Continued.
Loss from  underwriting  profit andi             I             I
loss items ...........................I.....1.-...     210 2      . .
Underwriting income earned during!
the year ......                                 ..l.1           $637,820
IN
LOSSES.                             I
Losses paid..       .$356,272 15..............                    ..............
Deduct unpaid losses Dec. 31 of pre- I
vious year ..................72,880 17.............. 7
Balance.. *                       $283,391 983.
Add unpaid losses Dec. 31, end of theI           I.
year ............................ '    52,657 881 ....   ... .
Losses incurred during the year ...... . ............. 1  $336,049 86..............
UNDERWRITING EXPENSES.           I                          |
*        I             l     ~     ~~~~~~~~~~~~~~~~ I
Underwriting expenses paid    during!                          I
the year ..... 1 $281,463 491 .
Deduct underwriting expenses unpaidl                           I
Dec. 31 of previous year............I  15,000 00!..............I
*__I_' I
Balance .........................  $266,463 491 .
Add underwriting   expenses unpaid!              I             I
Dec. 31, end of the year .........I1   15,000 001-.........I...!.--. ...
Underwriting expenses incurred dur-1             i
ing the year .........                  -        1 281,463 49!.
Underwriting losses and expenses              .     .    .     I   617,513
35
Gain from   underwriting during thel             I
year ............................... .... . ........             $20,306
83
INVESTMENT EXHIBIT.            I
Premium and Rents.          I            I
Iiitrest. dividends and rents received1
during the year ..................... 1  $51,831 931 ........   I...... -
.
Deduct interest, dividends and rents!                          I
accrued Dec. 31, end of the year.....1  5.691 211 .
Balance ....                   1 $46,140 721 .
Add interest. dividends and rents ac-1           I             I
crued Dec. 31, end of the year.......1  5,835 861 .
,            I            l     ~      ~~~~~~ I
Total ...                                       $51,976 58!.
PROFIT ON INVESTMENTS.          I             I
Gain from sale of ledger assets.......1    $100 131..............I
Gsin from increase in book value of!             I             I
ledger assets .........           1    14,225 001..............I
*            ,            ~      ~     ~~~~~~~~~~~~~~~1  1
Profit on investments during the yearl..!............1  14.2.5 12I..
I            I             1
Investment incometearned during thel             I             I
year  --..-......-....      --.......... I      I........        $66,301
71
33-Ins.-1