848                     UNITED STATES FIRE INS. CO.
UND;ERWi'ITING AND INVESTMENT EXHIBIT-Continued.
INVESTMENT EXHIBIT.                             l
Interest and Rents.
Interest, dividends and rents received1
during the year ....... ........... 1     $43,922 49!..............I............
Deduct interest, dividends and rents!                               l
accrued December 31, end of the!                    I             I
year .........                              3,162 021 ......        1
Balance   ....                .       $40,760 47! *.           ..............
Add interest, dividends and rents ac-1                I
crued December 31, end of the year!         3,878 011..............I..............
Total.. *                                            $44,638 48 ..............
PROFIT ON INVESTMENTS.               |            |
Gain from sale of ledger assets.I                           2,151 00..............
Investment income earned during the|
year        ..........................             !      1         1  $46,789
 48
LOSS ON INVESTMENTS.
Loss from sale of ledger assets ......         $247 50!............................
Loss from   decrease in book value of!                I
ledger assets ....................            101 80!..............I..............
Loss from    change in difference be-I                l             I
tween book and market value dur-1                   I
ing the year ....................           7,119 98j .........
Loss on investments during the year..............1         $7,469 al..............
INVESTMENT EXPENSES.              1              !1
lI!vestmnent expenses paid during the!
yea .                                       1 1 1,208 95!.
Investment losses and expenses dur-l
ing the year ......I..              .   .....................           
8,678 23
Gain   from  investments during     thb              I              I
year ..I............................. ............. ..............     $38.111
25
MISCELLANEOUS EXHIBIT.                               (lain in   I   Loss
in
1  Surplus.    I  Surplus.
DIiviletds declared   to  policyholdersl              1
during the year .         .................. .............. ....1      $28,000
00
Net loss from  above .        ................ ..............I.....1.   
$28,000 00
Total gains and losses in surplus dur- 1                               ;
ing the year ...$......... ...38,111 251                               $36,017
33
Stirpluis Dec. 31, 1911 .    ..........    $2S8,3789 131 .
.Surplus Dec. 31. 1912 ................     290,472 051 ............  .
Increase in surplus during the year..1..............I..............I    
  2,093 92
Totals          .           .. I                1 $38,111 251 $38,111 35


Per cent of losses incurred to premiums earned, 51.6.
Per cent of underwriting expenses incurred to premiums earned. 49.9,
Per cent of investment expenses inceurred to interest and rents earned, 02.7.
Per cent of total losses and expenses incurred and dividends declared to
total income earned, 98.2.