RHODE ISLAND       MU TWAI    PI Rn  Aft. )Co.             1243
UNDERWRITING AND INVEST\,IENT EXHIBIT-Continued.
PROFIT ON INVESTMENTS.
Gain from sale of ledger assets .......      $5,946 00 ......           ..............
Gain from other investments .....   ......       207 97 ...      ... ..............
Profit on investments during 1912 ..................          6,153 97 .
Investment income earned during 19121 .............. ..............     
  $76,582 55
LOSS ON INVESTMENTS.
Loss from sale of ledger assets .......         $200 00 ......          ..............
Loss from decrease in book value of
ledger assets                ...................  6,153 97 .......-   ..............
Loss from change in difference be-
tween book and market value dur-
ing 1912 ............................       20,592 79 ...      ... ..............
Loss on investments during 1912..... .    ........         ............ 
   26,946 76
Gain from   investments during 1912 ............................        
  $49,635 79
MISCELLANEOUS EXHIBIT.                             I  Gain in        Loss
in
Surplus.   I   Surplus.
Unabsorbed premium     deposit declared
to policyholders during 1912 ........ .............. ..............    $596,733
17
Net  loss  from   above .................. .............. ..............
 $596,733  17
Total gains and losses in surplus.dur-
ing 1912 ................. I.......... ...              $675,559 44    $596,733
17
Surplus Dec. 31, 1911 .......................$779,410........ ..............
Surplus Dec. 31, 1912 .................      858,237 18 ........        ..............
Increase in surplus during 1912 ...... ........         ..............  
  78,826 27
Totals   ......................... ........         $675,559 44    $675,9
44
_~~~~~~~~~~~~~~~~~~~~~~~ .
Per cent of losses incurred to premiums earned, 8.65.
Per cent of underwriting expenses incurred to premiums earned, 9,01.
Per cent of total losses and expenses incurred and unabsorbed premium de-
posit declared to total income earned, 90.34.