1064                       WtSTERS ASSTPAN0, 00.
INDE IWRITING       AND INVESTMENT EXHIBIT.
UNDERWRITING EXHIBIT.
Premiums.
Total prem-Wlms ......         .     .    $1,563,G36 62. .              .
Add unearnedi wremiums Dec. 31 ofl
prlevious year   ..............  ...... 1 1,168,254 771 ............................
Total   ......................... | $2,731,891  91. .
I)educt unearned premiums l)ec. 31,1                   I
end    of the year ................... I 1,269, 000 70..1
Premiuims earlle>l during tile year ... ............... 1$1,462,830 691.
UNDERWRITING PROFIT AND
LO(SS    ITEMsAS.I                                  -
Loss fromt agents' balani-ces chlargedj
off .                                           $3 881 .....
Agents' balances and billsI
receivable not admitted
]Dec. 31, 1911 ........... $5,911 891 .                              I
Agents' balances and bills               I
receivable lnot admitted              i                              I
1)eC. 31, end of tile year    8,36                                   ....3j....
Loss from   above ....................1        2,444 841 .
Loss from      underwriting  profit andl                I
loss itelsls ......................... .............1        2,448 721.
Underwriting    income earned    during|
tlle year ..................... ----------1------------1------------1 $1,460,381
97
LOSSES.
Losses paid..                            1  $867, 250 741. ..          I..............
lDeduct salvage and     reinsurance   re-1              I              I
coveral.le Dec. 31, end of the year..!        8,324 131 ........      I
Balance .$858,926 611 .........                                   .
Aldd  salvage anid reinsurance recov-1                  1
er.-able I)eveelmher 31 of previous yearl    7,845 881 ...........   I
T'ot:l .          ....... 1 $866,772 491 ....
I)(dlltct tIunpaid lo~sses D)ecelber 31)I. ofj
9'1Viou1, year .........               1   2,01,978 341    .      ........
Bal ance ....          ......         $66,794 151 ........     . I      .
Ald 1   pllulaid losses December 31, endl
of tile year ........................      178, 830 831 ............ I
Losses incurred during the year                ........... 1 $843,624 9S!.............
ITNDERWRITING         EXPENSES.                     |
IUnderwriting     expenses  paid  duringi
the year ..------------------------ $6600,848 351 .
D)educt undecwriting expenses unpaid!                   I              I
leeembei 31 of previous year ...... 1       29,526 771 ....       ....
I      I       1              I
Balance ......1 $631,321 581 .........                           I     .
Add   underwriting      expenses  unpaid!
D)eerneber 31, end of the year .     I....1  29,148 531..............I.............
Ullderwriting expenses incurred dur-1                  .               |
iIlg tile y'ear ........................        .......   660,470 111..............
Underwriting losses and expenses       .  .............I..............I 
1,504,095 09
Loss fronm     underwriting  during thel               I
yea r ............................... I                .    .           
$43.713 12
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