442                       FIREMAN 'S FUND INS. CO.
UNDERWRITING AND INVESTMENT EXHIBIT.
UNDERWRITING EXHIBIT.
Premiums.                l              l
Total premiums ..............       .    $5,472,766 431........................
Add unearned     premiums Dec. 31 of                               .
previous year ..........                3,714,707 977 ......
Total ...         ....... .        $9,187,474 4,0 ........... 1      .
Deduct unearned premiums Dec. 31,1 :
end of the year ....................    3,812,953 73 .-
Premiums earned during the year .. ..............$5,374,520 671..............
UNDERWRITING PROFIT AND
LOSS ITEMS.                                             I
Gain   from   agents' balances    previ               -
ously charged off...................         $410 28 ................   
.....
Loss from agents' balances previously                 I
charged off .........                       2,648 461 ...........................
Loss from above ..             ....          $2,238 18i .
Agents' balances and bills
receivable not admitted
Dec. 31, 1911 ........... $49,857 52 .............. .........................
Agents' ba'e'ices and bills
receivable not admitted
Dec. 31, end of the year    43,883 09      ..                    .   ...........
I              l
Gain from   above ...............    .        5,974 43i ..............  
 ..........
Gain   from  underwriting   profit andi l                            1
loss items .......................... .                    3,736 251..........
Underwriting   income earned     during I                           I
the year             ...I............... .............. $5,378,256 92
LOSSES.                 I
Losses paid   ...............            $2,903,265 66| ..........    1
Deduct unpaid     losses December 31       ,
of previous year ......        .....      517,423 26 ...........     I  
 .
Balance ...........                $2,385,842 4,0 .............
Add unpaid losses December 31, endl        ,
of the year ........                      487,239 78 ...........   .
Losses incurred during the year ..... .............. $2,873,582 18..
UNDERWRITING EXPENSES.
Underwriting    expenses paid    during1
the year ......-................. $2,022,020 17 ..........          .
Deduct underwriting expenses unpaid                   l
December 31 of previous year ......       291,000 001 .............. ............
Balance .....            .         $1,731,020 17 ............
Add   underwriting   expenses   unpaid       -                       I
December 31, end of the year .............................304,000 00..
Underwriting expenses incurred dur-                   I
ing the year ................................     . 1 2,035,020 171.
Underwriting losses and expenses ................. ..............      4,908,102
35
Gain from    underwriTing   during thel               I
year ................                      .               .,,,..     $470,154
57