REPORT OF T HE1 COMMISSIONER OF INSURANCE.        105
Reserve
The reserve for the gross annual deposit premiums was' de-
termined according to section 1915m of the insurance laws of
Wisconsin for the y ear 1913. This amounted to. $244,828.97.
The method of determining the reserve was as follows:
Annual Deposit Premiums, less cancellation, expiring in 1912 and 1913.
1912                                                   Amount
June ...........................$46,799.41
July ..........................57,1541.39
August .........................49,888.39
September........................46,186.14
October..........................52,989.61
November........................45,953.96
December ........................46,087.33
1913
January.........................72,715.68
February .....64,483.10
March.......44,766.17
April...........................71,499.99
May ..........................                         513,966.10
Total ........................$652,877.27
652,877.27 X 1/4      ==163,219.32 Expenses
652,877.27 - 163,219.32-= 489,657.95
489,657.95 X '/2      =244,828.97
The reserve according to the Wisconsin law is $244,828.97.
Surplus
The surplus of the subscribers over all liabilities was
$415,094.28.
Risks and Premiums
The number of risks in force May 31, 1913, was 372, and the
insurance in force was. approximately $29,50:0,000.
CLOSING REM.AfKS
This exchange is one of the older 'and more important of those
located in the West. Its affairs have been conducted in such
a manner as to give satisfaction to its subscribers, and its fl-
nancial condition, as shown by the statement, appears ample to
toot its contracts.


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