NORTIIWESTEIRN      FIHE & M-AUINFi INS. CO.                727
UNDERWRITING        AND INVESTMENT EXHIBIT-ContInued.
I ~                    . I
INVESTMENT EXPENSES.              I             I             I
I             I  .
Investment expenses paid during thel
year ..........................                          5,175 ll..
*                 I          . ~       ~     ~~~~~~~~~~I  I
Investment losses and expenses duringl                             I
ing the year                     .....                                 10,87'5
11
Gain from investments during the yearl ... .......... I                 $31,878
93
MISCELLANEOUS EXHIBIT.             I             I   (Tin in   I   T, oqi
IJn
.  Surplus.    I Surplus.
Dividends   declared  to  stockholdersl             I              1
during the year .............l..--.----------. .............         $30,000
00
Dividend declared to stockholders Dec.1              I
26,1912, payable Jan. 1, 1913       .        .....................1   30,000
00
1          1            ~I    _   _______
Net loss from above .................. ..... ..............            $60,000
00
1             1        -       --
Total gains and losses in surplus dur-1              I
ing the year         .I $132,156 991                                  $60,000
00
Surplus Dec. 31 1911 ..                   $256,845 231 ...... I
Surplus Dec. 31, 1912 .................    329,002 221 ............  I
Increase in surplus during the year      .        ..... ........ --d    72,156
99
Totals ..........................-............    $132,156 991   $132,156
99
Per cent of losses incurred to premiums earned, 50.18.
Per cent of underwriting expenses incurred to premiums earned, 35.70.
Per cent of investment expenses incurred to Interest and rents earned, 25.44.
Per cent of total losses and expenses incurred and dividends declared to
total
Income earned, 90.54.