COLUMBIA INS. CO.                                353
UNDERWRITING AND INVESTMENT EXHIBIT-Continued.
_~~~~~~~~~~ ,I
INVESTMENT EXHIBIT.
Interest and Rents.
Interest, dividends and rents received
during the year ................           $31,262 96 ............... ..............
Deduct interest, dividends and rentsl
accrued Dec. 31, 1911.... I.......           8,680 411.       ..... ..............
Balance ..................|.           $22,582 551 .............. . .............
Add interest, dividends and rents ac-I                 I
crued Dec. 31, 1912 .................      10,205 821 .............. ..........
I              I
*         ~       ~      ~       ~     ~~I  l  I
LOSS ON     INVESTMENTS.           I
.,           ~       ~~I     I
Investment income earned during 19121            .     .     .......... 
  $32,788 37
LOSS ON INVESTMENTS,
Loss from   decrease in book value ofl                 l
ledger assets ..........              I      $897 921.............. ..............
Loss from    change in difference be-I                 I
tween book and market value dur-1                    I
Ing 1912 ............................       10,435 58S ...........  .
Loss on investments during 1912...... ..........        I.  $11,333 501.
I              I              I
INVESTMENT EXPENSES.
Investment    expenses   incurred   andl
paid during 1912.................... ............ J        1        ,122.
  95.
Investment losses and expenses dur-j                   l
Ing  1912      1. ...................................                   
12,456  45
Gain from   investments during 1912.-.............           .......    
 $20.331 92
____ I___
MISCELLANEOUS EXHIBIT.              I              I   Gain in    i  Loss
In
I              I  Surplus.    I  Surplus.
Total gains and losses in surplus dur-I                l              l
ing 1912 ...                                             $48,209 5..............
Surplus Dec. 31. 1911.I $279,086 641... .............
Surplus Dec. 31, 1912..................I    327,296 391..............I........
Increase in surplus during 1912 .....       ..............I             
 $48,209 75
Totals ....                                      1i $48,209 751     $48,209
75
Per cent of losses incurred to premiums earned, 51.8.
Per cent of underwriting expenses incurred to premiums earned, 40.4.
Per cent of investment expenses incurred to interest and rents earned. 3.4.
Per cent of total losses and expenses incurred and dividends declared to
total
-income earned, 88.6.