PENNSYLVANIA        FIRE   INS. CO.                    751
UNDERWRITING AND INVESTMENT EXHIBIT.
UNDERWRITING EXHIBIT.              I              I             I
Premiums.                I
Total   premiums,   $3,573,547.47,  lessl
$27,730.55 ...........................I $3,544,816 921 ............ I
IDeduct unpaid return and reinsurance                I
premiums Dec. 31,1912 ..............      35,000 .01 -..-.-.-.-.-.-.-I-.-.-.-.-.-.
Balance .....I........... 1 $3,509,816 92. .
Add unearned premiums Dec. 31, 1911,
and $909,123.21 reclaimable on per-!               !
petual insurance ..................    4,240,509 92!........... 4
1-        ~       ~      ~~~~~~~~~~~~~~~~~~~~~~~II
Total ....          ......... ! $7.750,326 84!.
Deduct unearned premiums, Dec. 31,!                  1
1912, and $966,874.31 reclaimable on!
perpetual . insurance  ...............  4,353,121 04 !..    1      .
Premiums earned during 1912 ......................$ 13,397,205 801.
I 'I
UNDERWRITING PROFIT AND
LOSS ITEMS.
Agents' balances and bills
receivable not admitted
Dec. 31, 1911 ........... $26,126 03! ........       I            I
Agents' balances and bills             !              !
receivable not admitted              I              !
Dec. 31, 1912 ...........  32,991 181 .......        I             .
Loss from above ..............                  l       l 6,865 151.
Underwriting income earned         duringI
1912  ................................ I............................. !$3,390,340
 65
LOSSES.
Losses paid ...                         $1,991,822 131.               .............
Deduct unpaid losses Dec. 31, 1911 .... 1  352,746 481 ........      !
Balance..                        I$1,639,085 651 .I
Add unpaid losses Dec. 31, 1912.        1  320,117 55 1.
Losses incurred during 1912 ...........  ............. 1$1,959,203 20!.
I              1
IJNDERWRITING EXPENSES.             I
ITnderwriting  expenses paid    during!
1912 ...................            1$1,302,573 651 ..........   I....I
Dodule underwriting expenses unpaid!
Dec. 31, 1911 ........................1 I  38.364 451 ............   l  
.
___ --__ II
Balancee ........................! $1,264,209 201 ............   l   .
Ac1d1 underwriting   expenses   unpaid!               1             7
Dec. 31, 1912 .........................   64.675 40!1 ............  .
Dec. 31, 1912.            ~~~~~I                        II
lnderwriting expenses incurred dur-!                  I             I
ing 1912 .....                       I.           I 1,328,884 601 .
I             I-             I
UJnderwriting losses and expenses ...............    ............... I  3,288.0.87
.89
*  I           ~       ~      ~~~I  I  -_
Gain from underwrviting during 1912     ........................... .   1
 $102.252 8i
33A-Ins. 1.