OL]NXS 1 ALLS INS. CO.                           511
UNDER WRITING      AND   INVESTMENT      EXHIBIT-Continued.
I             I
MISCELLANEOUS EXHIBIT.            |                 Gain in       Loss In
I  Surplus.  J   Surplus.
Divi(lends  declared  to  stockholdersI
during the year                .        .        ..............     $210,000
00
Decrease in special reserves .*         ..............  $50,000 001 ..............
Loss   from  surplus   transferred  tol                           I
capital .....                                                         00,00
0 ...............  00
Net loss from above .----- ------                    ..............   $460,000
00
Total gains and losses in surplus dur-l
ing the year ...........       .                  I   $775,800 161  $510,00
 00
Surplus Dec. 31, 1911 ...........       $2,720,905 521 ............
Surplus Dec. 31, 1912 ................  2,486,705 67 .........
Decrease in surplus during the yearl .                  234,199 851.
I                   I             I-
Totals        .          ......... ............... l $510,000 001  $510,000
00
Per cent of losses incurred to premiums earned 54.82.
Per cent of underwriting expenses incurred to premiums earned 41.91.
Per cent of investment expenses incurred to interest and rents earned .0739.
Per cent of total losses and expenses incurred and dividends declared to
total income earned .937.