GERMANIA FIRE INS. CO.


497


UNI)ER W ITINrlG    AND   INVESTMrNT       EXIIIBIT---Continued.
nderwritinlg expenses incurred dur-                     I              I
ing> 1912 ............................ ..............   1, 328,909 1sf..
Underwriting losses and expenses ..... . ............. ..............   2,652,531
89
Gain from underwriting during 1912 .............. I.............. 1     
  $220 952 79
INVESTMENT EXHIBIT.
Interest and Rents.           I                              I
Interest, dividends and rents received!
during the year .    .      ...........   $3304,873 271 .........     I
Deduct interest, dividends and rentsl                   I              I
accrued Dec. 31.......................      38,454 831 .
Balanc                               -   1I
Ba~lance  ...................    .   ..... $266, 418   44 1 .. . . . . .
.I. . :. . . .
Add interest, dividend and rents a          $-       44f
crued Dec. 31, 1912 ..................      39,564 001 ...
1 -II
Total.... .....                                      $305,982 44f.
I           I              I
PROFIT ON INVESTMENTS.               I              I              I
Gain from   sale of ledger assets ....... . ............. 1  125,724 591.
Investment income earned during 19121 .............. I.............. I  
 $431,707 (3
LOSS ON     INVESTMENTS. -                                        I
,I I I
Loss from sale of ledger assets.              $2,887 331.
Loss from   decrease in book value ofl                  I              I
ledger assets ..........               1     3,966 101.
Loss from    change in difference be-f                 I
tween book and market value dur-I
ing 1912 ..... 1 87,195 841.
*                            ~~~~~~~               ~       ~~~~~~~~~~~~~~~I_
 -___--I  I
Loss on investments during 1912 .......   .............I    $94,049 271.
INVESTMENT EXPENSES.               !               I
Investment expenses paid during 1912.1.. 1                    310,727 011.
II1v(stlIlent losses -and expenses dur- 1
ilug   191 ............................I.....7.....               I .I  
 1-,( 77
Gain from   itivestincuts    I      I  ...dg ....................... 9  
             I
W1'ISCLLANETOITS    EAi1l lll.      I              I  Gain 1mm      1oss
im
I              I  Surplus.    I  Sid-10118.
Dividends    declared  to   stockholdersl               I              I
diiring 1912     .       .      .....; .............. .......          -
1 $200,000 0(1
Gain from other sources... ..............                    $2,300 00°..............
Net loss from above ..................                                 1
 $197,700 00
Total gains and losses in surplus dur-1                 I
ing 1912 ...                                              $521,882 941  
$197,700 00
Surplus Dec. 21, 1911 ......              $2,289,621 941 ............. 1
Surplus Dec. 31, 1912 ..............      12,613,814 881 ............ 1
Increase in surplus during 1912 .        ............... .............. 1
 324,182 94
Totals ..........................        1         1  $521,882 941  $521,882
94
Per cent of losses incurred to premiums earned. 45.82.
Per cent of underwriting expenses incurred to premiums earned, 46.00.
Per cent of investment expenses Incurred to interest and rents earned, 12.00.
Per cent of total losses and expenses Incurred and dividends declared to
total
Income earned, 90.21.