PHOENIX ASSURANCE CO.                                1005
UNDERWRITING AND INVESTMENT EXHIBIT-Continued.
UNDERWRITING PROFIT AND
LOSS ITEMS.
Loss from    agents' balances charged1
off .                                          $15 .301 ....         I
Agents' balatn~es -tnd bills11I
receivable not admitted                              I
Dec. 31, 1911 ....           $3,095 191 ..*                          ..............
Agents' balances and billsI
receivable not admitted I I I
Dec. 31, end of the year      6,809 701 ......         I             I
I         ~   ~~I         I
Loss from   above .......                      3,714 511 ...........  |
Loss from    underwriting    profit and                I               I
loss items ...........-..----.... ...........               3,729 811.
Underwriting    income earned    during
the year .....                         .............. .............. $2,308,268
45
LOSSES.
Losses paid .        .......      .       $1,318,910 35.                
     .........
Deduct salvage and      peinsurance re-                 i              I
coverable Dec. 31. end of the year..1        6,111 361 ..........     1
Balance   ...              .   .  1$1,312,798 991 ..........      I..............
Add salvage and reinsurance recov-I                     I              I
erable December 31 of previous year!         3,947 031...............  -.--
,                I
Total   ................ 1$1,310.746 02! .............................
Dtcdnct unpaid losses December 31 ofl                  I              j
previous year ...........1                 202,215 00 .........
Balance ...................         $1,114,531 02 ..I...-.-.-...-.-.-.-...-
Add unpaid losses December 31, endl                     I
of the year ........................ 1     212,885 281 ........       I
Losses incurred (luring the year         ......          $1,327,416 301..............
UNDERWRITING         EXPENSES        I              I               I
Underwriting    expenses paid    during                                1
the year ..........................     $1,028,611 69                .......
.......
Deduct underwriting expenses unpaid         ,                          I
December 31 of previous year..              63,789 39! ..............I............
Baane.I                                  I 30!
Balance     ....  --------------------- -1...................  $964, 822
  301 ..........-.--.- . I.............. * -- --
Add   underwriting    expenses   unpaid!                               I
December 31, end of the year ......I        54,500 09! .
Underwriting expenses incurred dur-                                    I
ing the year .........         .............. ..........   1,019,322 39!1-............
Underwriting losses and expenses ... ............................1 2,346,738
09
Loss from    underwriting   during   the!
year ..                                               .               t $38.470
24
INVESTMENT EXHIBIT.
Interest and Rents.
Interest, dividends and rents received!
during the year ................... 1     $126,625 94!..............I.............
Deduct interest, dividends and yentsl                   I
:aeerued  December 31, end     of thel                I
year .1 44,078 761 ..                                          ...... I 
   .
B alance  .............!..... I ...... I1  $82,547  181 .........   ..............
Add interest, dividends and rents acl-                  I
crued December 31, end of the year          42,662 10!..       .......  
      ......
Total , t                             *   *     .    $125,209    ... 28 
*