310                          CALIFORNIA     INS. CO.
UNDERWRITING AND INVESTMENT EXHIBIT.
UNDERWRITING EXHIBIT.                             I
Premiums.
Total premiums .............             1  $493,909 90() .........   I
.aQO  un.paid return and    reinsurance               I
jirenhiums Dec. 3Ll or previous yearl      25,239 241 ...........  I
Total .      ...                     $519,149 141 ......... I.
D)educvt unpad    returu  and  reiusur-1
alice premiums Dec. 31, end of thel
year .                               1     38,32381 0.1.        ..      .........
Balance.         .........           $480,826 061 ......... I.
Add unearned premiums Dec. 31 ofl                     I              I
previous yeai ..........-...              619,404 951 .
Total ..........                   $1,100,231 01 .l..
Deduct unearned premiums Dec. 31,                     I              I
end of the year .............-.-...I- 518,49201 .........           I
Premiums earned during the year ..............           $581,738 961.
UNDERWRITING PROFIT AND
LOSS ITEMS.
Loss from   agents' balances charged|         1,262
oft                 -----------------       1 ,236   2,±  .. .........
 I.. .. ... .
Agents' balances and bills                      .
receitable not admitted
admitted Dec. 31, 1911..    $3,303 711 .......       I             I
A\ gents' b)alances and bills
receivable not admitted                                         . I
Dec. 31, end of the year     2,816 96.1 ..          I.......       ........
Glain from  above ...............    .          546751..............I..............
Loss from    underwriting   profit andl               |              I
loss items ..                                              .0689 491    
. ...............
Underwriting   income earned    during
the year ......                                      ...              $581,049
47
LOSSES.
Losses paid .......                        $315,918 771 ..........
Deduct unpaid losses Decembe         31 of            I
previous year .47,65 191 ............................
Balance ...... ................I     $268,233 581 ........   . I     .
Add unpaid losses December 31, end                    I
of the year .........................      26,692 201 .......       I
Losses incurred during the year .... ..............      $294,925 841.
UNDERWRITING        EXPENSES        |
Underwriting   expenses   paid  during
the year ... I,:,-,-,,,,--, ..... t ...  $220,894 307     .... I I
Deduct underwriting expenses unpaid
December 31, of previous year .....-        110,000 00 ........1
Balance ......................       $210,894 30 .
Add   underwriting    expenses  unpaid!               I              I
December 31, end of the year ......        9,500 00 ........
Underwriting expenses incurred dur-                   -
ing the year ...           ...... ..............        220,394 30!.
I              1-            I  I'
Underwriting losses and expenses.. ....------l-.........-               
515,320 14
Gain from    underwriting   during theI
year .                                .............. ............   1I  $65,729
33