M'hdfIANICS thN. 060.
UNDERWRITING AND INVEST-MENT EXHIBIT-Continued.
UNDERWR11ITING EXPEN$$ES.
Underwriting expenses paid    durinlI
the year ...........................-  $181,844 551--         . ....... 
------------
D)educft underwriting expenses unpaiol             I             I
Dec. -31 of previous year    .   . I      8,197 4.I.............. --------
Balance ........................II3,653 08.........................
Add   underwriting  expenses unpaidl               I
Dec. 31, end of the year .............    7,832 201...........
Underwriting expenses incurred dur-1               I
liag, tile year ..........................   .....   181,485 281 ..............
Underwriting losses and expenses .................               I   401,311
99
*                     I            ~      ~      ~~~~~~~~~~~~~~~~I I- -
Loss from   underwriting during thel               1
year .                                                          I $I  1 
29,889 .32


INVESTMENT EXHIBIT.            I
Interest and Rents.         I
Interest, dividenfs and rents receivedj
during the year.....................I
l)educt interest, dividends and rentsl
accrued Dec. 31, end of the year....1
Balance ..      ... ...........
Add interest, dividends and rents ac-I
cruel Dec. 31, end of the year .....
Total ...........................
PROFIT ON INVESTMENT8 .
Gain from sale of ledger assets......
G-ain from  change in difference be-
tween book and market value dur-
ing the year ..........;
Profit on investments during the yeari.
Investment income earned durilng thel
year ...
LOSS ON INVESTMENTS.            I
Loss from sale of ledger assets .......
Loss from   change in difference be-I
tweenl b)ook and market value (lllm-j
ilg tl  year ..................
Loss on illvestment during the yeatr..


I          I
I          I
$58,951 181 ........   . .
11,458_401 .......
$47,492 781 .... ... I .
12,547 381 .......   ..............
.. . . ....  $00 404 61  .. . . .. . .
5751.............. I..............0,4( tl
IGI
8 0 0 O I .. . . . . . .I. . . . . . .
I          I
I I
.......~~~...... .........  $ l -8  , 0 57.  (1)|1
1 I
I       &   ~     ~~ I
-I         I
.I;     8)r )},,05 50.,1 .


1 2,339 281 . . I
............ .  !$2,74-  2 .. .


INVESTMENT EXPENSES.
Investment expenses paid during thel
year ...         ........... .                    4,050 681.
Investment losses and expenses dur-I
ing  the  year  * ---  -  - -  -  -  ----  ---- --.--- - -- -- -  16,794
 9G
Gain from  investments during thedg|
year ..   .     .,,I...............I...............  $51,302 70
________  __    _  __  __  __   -


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