NATIONAL FIRE INS. CO.


659


UNDERWRITING AND INVESTMENT EXHIBIT-Continued.




INVESTMENT EXPENSES.
Investment expenses paid during 1912
Investment losses and expenses during
1912 ...
Gain from investments during 1912....
MISCELLANEOUS EXHIBIr.


0 66,264 541..............
.............. .1  249,533  12
.j............ 1  $350,716 76
Gain in    I   Loss inl


I       .     ... 0 Surplus.  I  Surplus.
Dividends and interest     declared   tol
stockholders during 1912        -      -  -.-.-.-1...         .         $255,442
1.2
Guaranty for subscription to new cap-l                 I l
ital stock                  .           .          ..............       
 25,000 00
New stock issue, 10.00() shares at $2251               1    .
(capital, $1,1000,0010) ................ $..--...... 1$1,250,600 0............
Net ,,ain from above ..                                    $969,557 881 .
Total gains and losses in surplus dur-                    -           II
ing 1912 .                                            1$1,320;274 641 $53,345
96
Surplus Dec. 31 1911 .......            1 $2,630,276 061..............I..............
Surplus Dec. 31, 1912 .......           1 3,897,204 741 .
Increase in surplus during 1912 *.............                          
1,266,928 68
Totals .         .          .                      $1,320,274 641 $1,320,
274 64
_ _ _ _ _ _ _ _l                             I         .       I_
Per cent of losses incurred to premiums earned, 55.03.
Per cent of underwriting expenses incurred to premiums earned, 45.47.
Per cent. of investment expenses incurred to interest and rents earned, 11.78.
Per cent of total losses and expenses incurred and dividends declared to
total
income, earned, 100.2.