540     MUT. COS. MAINTAINING; UNEARNED PREMIUM             RESERVE.
UNDERWRITING AND INVESTMENT EXHIBIT-Continued.
I             I             I
MISCELLANEOUS EXHIBIT.            I            I   Gain in   I  Loss in
Total gains and losses in surplus dur-                surplus.      surplus.
ing 1912                                              $444   211    $9,617
38
Surplus Dec. 31, 1911.4440211                                          96
$30,282 891.7 8
Surplus Dec. 31, 1912 ..................  25,105 721 ............ |
Decrease in surplus during 1912 .....................    5,177 17.
Totals .                        .       .         $9,617 381 $9,617 38
I_            I             I   _.    _
Per cent of losses incurred to preimums earned, 97+.
Per cent of underwriting expenses incurred to premiums earned, 31+.
Per cent of investment expenses incurred to interest and rents earned, 14+.
Per cent of total losses and expenses incurred and dividends declared to
total
income earned, 118.
LIQUOR DEALERS LIMITED MUTUAL FIRE INSURANCE
COMPANY,
Manitowoc, Wisconsin.
Home Offlce, 1003 S. Sth St., Manitowoc, Wis.
[Incorporated December 16, 1909. Commenced business April 1, 1910.]
President, JOHN P. LANGAN.                     Vice-President, A. R. RAISLER.
Secretary and Treasurer, W. M. WILLINGER.
BALANCE SHEET.
Amount of ledger assets December 31 of previous year .............   $1,342
79
INCOME.
Gross premiums       ....................................  $2,341 95
Deduct gross amount paid for return premiums ......        185 18
Total premiums ...............    ..............................  2,156 77
Total footings .   ................................................  $3,499
56
DISBURSEMENTS.
Gross amount paid policyholders for losses           .       .         $159
30
Commissions and brokerage .....................    ..................   
343 48
Salaries, fees and all other charges of officers, directors, trustees
and home office employes           ...................               679
89
Printing and stationery      ................................. .        1
     2 5
Postage, telegrams, telephone and express           .        .          
  8    28
Fire department, fire patrol and salvage corps assessments, fees,
taxes and expenses        ..............................................
 35 50
Fire marshal tax    ................................................... 
  7 83
Other disbursements:
Traveling expense, secretary .........................   $29 0
Exehange ....           .....................                 35
3 25
Total disbursements          .          .$1,252 78
Balance           .            .$2,246 78