BOSTON    INS. CO.                            293
UNDERWRITING AND INVEST'AMENT EXHIBIT-Continued.
MISCELLANEOUS EXHIBIT.            |                 Gain in       Loss in
MIClLANEOUS E I  Surrp lus.    Surplus.
Dividends declared    to  stockholdersl     ..
during the year      .      .......                                $220,000
00
Net  loss  from   above ...................................!...      $220,000
 00
Total gains and losses in surplus
during the year .............. ...... ..             $398,828 76   $220,000
00
Surplus Dec. 31, 1911 ..........       $2,871,561 29 ..........      ..............
Surplus Dec. 31, 1912 ...........       3,050,390 05 .......... ..............
Increase in surplus during the year ..............l..............     178,828
76
Totals  ...................  .   ............     $398,828 761  $398,828
76
_ _ _ _ _ _ _ _   _   _  __
Per cent of losses incurred to premiums earned 56.5.
Per cent of underwriting expenses incurred to premiums earned 37.37.
Per cent of investment expenses incurred to interest and rents earned 6.3.
Per cent of total losses and expenses incurred and dividends declared to
total income earned 94.6.