NORTH BRITISH & MERCANTILE INS. CO.


981


UNDERWRITING AND INVESTMENT EXHIBIT-Continued.
Agents' balances and bills
receivable not admitted
Dee. 31, 191  .........    25,837 79j..              .......    ..............
Loss from  above .......................   5,540 311 .       .......
Loss from   underwriting   profit andl
loss items ........                 .I                 5,965 171.
linderwriting income earned during|                I            _
1912                                                  .......   $4,791,183
G0




LOSSES.
Losses paid ..........................
Deduct unpaid losses Dec. 31, 1911....
Balance ........................
Add unpaid losses Dec. 31, 1912.......
Losses incurred during 1912 ..........


$2,651,203 30
479,237 54
$2,171,965 76
440,424 36
..............


UNI)IERWRITING EXPENSES.
Underwriting expenses paid duringl
1912, deduct one-eighth of one per
cent mean invested assets, $10,450.18
Deduct underwriting expenses unpaid
Dec. 31, 1911........................
Balance ..........
Add underwriting expenses unpaidi
Ilec. 31, 1912 ..............
Underwriting expenses incurred dur-f
ing 1912 ............................
Underwriting losses and expenses....
(ain from underwriting during 1912..


$2,014,477 71
137,000 00
$1,877,477 71
115,000 00


l*............
..............
$29,612,390 121
1  -~~
1  -        -  1.. . .


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INVESTMENT EXHIBIT.
Interest and Rents.
Interest, dividends and rents received
during the year ....................
Deduct interest, dividends and rents
accrued Dec. 31, 1911................
Balance   .....       ..........
Add interest, dividends and rents ac-
crued Dec. 31, 1912..................
Total  ...........................
PROFIT ON INVESTMENTS.
Gain from sale of ledger assets.
Investment income earned during 1912
LOSS ON INVESTMENTS.
Loss from change in difference be-
tween book and market value dur-
ing 1912 .


.............. 1 1,992,477 711.
-           *1
.........I..............  4,604,867  83
. . . . . .. .  . .. . . . .  $186,315  77
$329,667 32 ;.
91,321 061 .
$238,346 261 .
92,738 74..
$331,085 00..
.  ......... 2,199 10!.
.............. I..............  $333 , 284'  10


$124,341 461 .............