GERMAN FIRE INS. CO.


491


UNDERWRITING AND INVESTMENT EIXHIBIT-Continued.


*    ~~ --                                 7    I
Underwriting expenses incurred dur-1                                   I
lug the year ................................I..          146,686 091 ..............
Underwriting losses and expenses          .        ....................I
  315, 786 50
*    I              I               1  -
Loss from    underwritin- during     thel                              I
year .............                                     .....            
 $30,993 85
i-I                           I      …
t         ~       ~       ~~~I  I
INVESTMENT EXHIBIT.
Interest and rents.
Interest, dividends and rents receivedi                 I
during the year ..............             $'30,795 181 .
Deduct interest, dividends and rentsl                                  I
accrued Dec. 31, end of the year ....I       8,382 281 ............   .
Balance ........................       $22,412 901 ............ 1
Add interest, dividends and rents ac-I                  I              I
crued Dec. 31, end of the year ......        7,980 771 ........       ..............
Total .I.........................1-........-----      $30,393 671.
1PR0FIT   ON INVESTMENTS.            I
Gain from    change in   difference  be-I
tween book and market value duringl                   I              I
the year .I *                                            - 977 501 .
Investment income earned during thel                    I              I
year .$31,.......................-..                           ............
 ' $31,371 17
INVESTMENT EXPENSES.
Investment expenses paid during thel
year  ..............................            ...... ..............1 I
   3,145   09
Gain   from   investments    during  thel               j              I
year ..........................         .............. 1.    .... . . I 
 $28,226 08






MISCELLANEOUS        EXHIBIT.     I                 Gain. in   I  Loss in
I             I   Surplus.  I   Surplus.
Dividends   declared  to  stockholdersl             I             I
during the year           ...................... . .     .           $18,000
00
Loss from other sources -              .. . ..                    I .  30,993
85
Net loss from above ......................................... . . I   $48,993
85
Total gains and losses in surplus dur-I             I             I
ing the year.                                          $28,226 081   $48,993
85
Surplus Dec. 31, 1911         .$200,                  ..........966 051.
.   .
Surplus Dec. 31, 1912 .........            180,198 281 .
Decrease in surplus during the year................I     20,767 771.
Totals ...I 1                                      $48,993 851 $48,993 85
Per cent of losses incurred to premiums earned, 59.3+.
Per cent of underwriting expenses incurred to premiums earned, 51.5+.
Per cent of investment expenses incurred tQ interest and rents earned, 10.3+.
Per cent of total losses and expenses incurred and dividends declared to
total
income earned, 106.5+.