(058                       NATIONAL FIRE INS. CO.
UNDEIRIWRITING       AND INVESTMENT         EXlIBIT-ConlntflLd.
Loss from above ..............                 8,507 211 ............ .
Loss from   underwriting    profit  andl
loss items ....... -                  1                    7,701 38.
Underwriting   income earned     duringi
1912 .                                                |      |        $7,152,160
59)
LOSSES.
Losses paid ........$. :13,897,970 74. .....
Deduct unpaid losses Dec. 31, 1911 ....1    544,600 661 ............ I  
 .     .
Balance ........................ $3,353,370 08 .
Add unpaid losses Dec. 31, 1912 .......     586,296 03    .   .........
Losses incurred during 1912 ........................ $3,939,666 11
UNDERWRITING         EXPENSES.       I              I
Underwriting    expenses paid    duringl
1912 .I...............                  $3,133,755 431 ...............
Deduct underwriting expenses unpaidl                   I              I
Dec. 31, 1911 .........          '         150,000 001 ..........
Balance ....                         $2,983,755 431 -           I.
Add   underwriting   expenses    unpaid                I             I
Dec. 31, 1912 .........    .                282,085 Ol .........        .
Underwriting expenses incurred dur-l                   I
in g 1912 ........................                     3,265,840 441 ..............
Underwriting losses and expenses .....    .............7..............  7
 205,506 5
Loss from underwriting during 1912- .............. I..............      
  $53, 345 96
INVESTMENT EXHIBIT.               I              I              I
Interest and Rents.           I              I              |
Interest, dividends and rents receivedl                I
during the year .............            $529,265 33 ........        .  
.    .
Deduct interest, dividends and rentsl
accrued Dec. 31, 1911 ..........          123,964 17 .........
Balance .....      .                 $405,301 16 ..............
Add interest, dividends and rents ac-I
crued Dec. 31, 1912 ............I... 1    157,271 79 ..............
Total ........................... --.-....            $562,572 951 .............
PROFIT ON INVESTMENTS.              j                             I
Gain from sale of ledger assets .......     $37,179 031 .........1
Gain from    other investments:    Par-I              I
ticipation   reorganization    Toledo
Traction Co             ...                   4                     I............................
Profit on investments durinlg 1912 ....I..............     '37,676 931.
Investment income earned during 19121 .....    .    .      ....      i  
$600,249 88
LOSS ON INVESTMENTS.                                            1
Loss from sale of ledger assets .....I...   $37,277 02 .1.............
Loss from    change in difference be-I
tween book and market value dur-                   26l
in g 1912 ............................      145,991 261 ........     .
Loss on investments during 1912 ...... . .......          $183,268 281.