770


PITTURBGlH FIR1SE INS. CO.


UNDERWRITING AND INVESTMENT EXHIBIT-Continued.
UNDERYRITING EXPENSES.              |
Underwriting   expenses paid duringj                  I
the year .........................      $115,072 841 .........   .
Deduct underwriting expenses unpaid]                  I
D)ec. 31 of previous year ...........I      3,668 521 ...........
Balance   ...................... I   $111,404 321.......... I.
Add   underwriting   expenses unpaidfl                I I
Dec. 31, end of the year .............      6,655 281 ......        I...*.*.
IJnderwriting expenses incurred dur-|
ing the year .*-                      .............. 1   118,059 601.
I         ~I       -__
Underwriting losses and expenses .... .............. 1 .     ........ . 
 255,241 07
Loss from underwriting expenses dur-f                 j
ing the year ............*.*.*.*.*.. *.*.... I..............           $37,969
92
INVESTMENT EXHIBIT.               I             I
Interest and Rents.                         I
Interest, dividends and rents receivedl                             I
during the year ...............           $30,491 361 .............. I..............
Deduct interest, dividends and rentsl                                I
accrued Dec. 31, end of the year.....I    11,015 241 ........       1.  
    .
I            --I  ~I
Balance .....I                        $19,476 121 ........      I
Add interest, dividends and rents ac-f                I
crued Dec. 31, end of the year .......I     7,788 951 .
1 -I                         I
lotal   * -                                      .........9.. ... I  $27,265
07
LOSS ON INVE STMENTS.
Loss from   change in   difference be--I              I
tween  book and market value dur-I                  I
ing the year ..........              I..                 $1,403 98 .
INVESTMENT EXPENSES.                                             |
Investment expenses paid during thel                  I             I
year ..                               ..                  5,109 811 .
Investment losses and expen~ses dur-I
ing the year ................. ...........        . .. .                
6,513 79
*GIait from  investments   during   thlel
year                       L' . .......... ........... ...... .... .........
.-.-.-.-.-.i   $20, 751  28
MISCE1,LLANEOUS E3XITiIT.           I             I    aini in bI   Loss
in.
I              t Surplus.      Surplus.
1)ividends   (le(lclred to  stockholdcrsl
(lulill- thle yeaii ................3 .                                $
.,2,000 00
Net loss fromn. ahove ..                                                
$32,000 00
ut l1 1 gains a-ind losses in surplus dtir-
il t( y8l'.:.........| ...............................             ;07; 
f $69, 69  a(!)
lug thle Year.                         .......         $20,75   28    $9999
8111uplus l)De. -1, 1911 .................. |                      .$176,
4.7 41. , .. ,  ..
Surplus Dec. 31, 1912 .............         127,338 901 ..**
D)ecrease in surplus during the yearl ..............       49,218 64|.
Totals .       .        .         .                 $69,969 921 $69,969 92
Per centt of losses incurred to premiums earned, 63.23.
Per cent of underwriting expenses incurred to premiums earned, 54.37.
Per cent of investment expenses-incurred to interest and rents earned, 18.74.
Per cetn of total losses and expenses incurred and dividends declared to
total
Income earned, 120.67.