STERLING FIRE INS. CO.                           831
UNDERWRITING AND INVESTMENT EXHIBIT-Continued.
*                ~      ~      ~      ~~I  I  I
Add investment expenses unpaid De-                  I
sember 31, end of the year .........     11,169 001 ........
Investment expenses incurred duringl
the year ...... I                            .14,263 661.
Investment losses and expenses dur-l
ing the year ..........                            ..........   i...  14,968
52
Gain  from   investments during    thel             l
year ..$5 ............                                               $54,839
71
MISCELLANEOUS EXHIBIT.            E             I  Gain in        Loss in
I                Surplus.   | Surplus.
Gain from   decrease on accounts re-i
ceivable on stock subscriptions noti
admitted .....                          ............  $187,735 741 .
Net gain from   above ......................           $187,735 741.
Total gains and    losses in  surplusl              l             l
during the year .........  ...... ... ...........    $242,575 451    $91,442
34
Surplus Dec. 31, 1911   .    .....         ..          .........................1.
Surplus Dec. 31, 1912 .       .......     460,131 42 .............................
Increase in surplus during the year       .         ..                 151,133
11
Totals .          ..                              $ . ..-...  242,575 451
 $242,575' 45
Per cent of losses incurred to premiums earned, 40.83.
Per cent of underwriting expenses incurred to premiums earned, 157.74.
Per cent of investment expenses incurred to interest and rents earned, 20.84.
Per cent of total losses and expenses incurred and dividends declared to
total income earned, 122.69.
37-Ins.-1