REPORT 01? 1THE COM MISSIONER OP INSURANCE.


81


Liabilities
Unpaid losses in process of adjustment................
Unearned premium on policies in force running one year
or less from date of policy-gross premiums
$304,944.80. Unearned premium at 50% ............  $152,472.40
Reserve for bills and other contingencies ...............  5,000.00
Subscribers emergency deposits ....... ................  297,000.00
Total liabilities except surplus ...... ............  $454,472.40
Surplus belonging to subscribers ...... ..........  243,458.08
Total liabilities ........... ...............  $697,930.48
COMMENTS ON FINANCIAL STATEMENT.
Cash Deposits
The cash deposits in the hands of the advisory committee
amount to $420,221.29. These deposits are in the form of cet-
tificates bearing 4%  interest, and were counted during the ex-
amination. The amount in the Chase National Bank is de-
posited in the name of the attorney and shows a balance to his
credit of $7,391.43, making the total deposit of all kinds be-
longing to the exchange $427,612.72. The reconciliation of
the cash account with the 'bank pass book of the Chase National
Bank is as follows:
Bank balance ................. ......................... $25,737.93
Book balance   .......................................  7,391.43
Checks outstanding ...........  ......................... $18,346.50
The outstanding checks were accounted for and their sums
were found to reconcile the difference between the bank bal-
ance and the cash book balance.
Bonds
The bonds belonging to the company hiave a     )ook. value or
$267,510 and par value of $300,000 and a market value orf
$262,680. The rate to obtain the market value was obtained
from Orvis Brothers & Company, 60 Broadway, New York City.
The valuation, of the bonds as of June 30th is as follows:
f-Ins-i1