108


REPORT OF THE COMMISSIONER OF INSURANCE.


posures were shown, expressing the distances between different
pcarts of the plant in feet. We found some cases in which man-
ufacturers had not carried out the recommendations of the in-
spectors, and they were dropped from the list of suseribers,
their policies cancelled, and their accounts liquidated.
SETTLEMENT OF LOSSES
The losses were paid very promptly, and there seemed to l)e
but little difficulty in reaching an adjustment which was satis-
factory to the insured.  The unpaid losses were very small when
taken into consideration with the gross amount paid the sub-
seribers.
FINANCIAL CONDITION
The financial condition of the exchange as of May 31, 1913,
is shown by the following financial statement:
Ledger assets December 31, 1912, as follows:
Bonds ............................... $54,787.50
Cash ................. ............... 714,251.75
Subscribers' balances ....... ..........  90,522 .96
$859,562.21
Income


Gross deposit premiums written.............
Deduct reinsurance ...................   $3,462.56
Rpturn clpnnqit nrmims ..............    53,200.55


$333,867.70




Intere
Error:


56,663.11
Net deposit premiums ......    ................  $277,204.59
fst .........      .........................        8,126.04
s unaccounted for ...............................      584.13
Total income ..........   ........................  $285,914.76
Sum  carried forward ......   ............... $1,145,476.97


Disbursements
Gross losses paid to subscribers........................
Gross dividends returned to subscribers................
Commission paid attorney...........................
Advisory committee expense:
1. Exchange   ........   .................    $85.05
2. Auditing books ......     ...............   95.00
3. Attorney's fund  ........   ............   140.00
4. Miscellaneous expense ......   ........     82.22
5. Legal expense .......    ..............  2,415.40


$95,973.49
126,636.39
53,745.61


z,817.(67
Total disbursements ..........................   $279,173.16
Balance .$866,303.81