MANTON MUTUAL FIRE INS. CO.                              1191
UNDERWRITING AND- INVESTMENT EXHIBIT-Continued.
UNDERWRITING EXPENSES.                               I
Underwriting    expenses   paid   duringl
1912 .......... I $28,871 441 .
Deduct underwriting expenses unpaidl                    I
Dec. 31, 1911 ..........                     2,375 841.
Balance ......................         $26,495 601     .       ..
Add   underwriting    expenses   unpaid I               I
Dec. 31, 1912  ............... .........     4,161  771 .-.-.-.-.-.-.-- .-.-.-.-.-.-
Underwriting expenses incurred dlur-I                        30,657 37 .
ing 1912 ...........................           ..... .
Underwriting losses and expenses            .         ... ..............
    51,659 82
Gain from underwriting during 1912           .        ... ..............
  $257,404 95
I~~                               -
INVESTMENT EXHIBIT.               I                              I
Interest and Rents.            I
Interest, dividends and rents receivedl             .  I
during the year .................... I     $11,914 421.
Deduct interest, dividends and     rentsl               I
accrued Dec. 31, 1911 ................        3,662 231.             ........
Balance ..............Iv ........       $8,252 191 .......    -
Add interest, dividends and rents ac-l                 I.
crued  Dec. 31, 1912  ................ /.. I
.I...                     $12,123 571........
Total  ......................                     1 $1
PROFIT ON INVESTMENTS.                                             I
Gain from sale of ledger assets ......................I         360 001.
Investment income earned during 19121 .............I.........           
  $12,483 57
LOSS ON INVESTMENTS.
Loss from sale of ledger assets ....... I     $1,189 641 .
ILoss from   change in difference be-I                                |
tween book and market value duringl                   I
1912 ...............................I        5,537 961 .
Loss on investments during 1912 ..                     .    ............
     ,727
Gain from   Investments during 1912 .................I..............    
   $5,755 97
MISCELLANEOUS EXHIBIT.               I              I  Gain in     I  Loss
in
I              I   Surplus.   I   Surplus.
Dividends   declared   to  policyhOldersl                              I
    706
during 1912 ..........I....                                             $267,.50
5.5
Net loss from   ahove    *                              ........... . . .
I $267,506 55
Total gains and losses in surplus dur-l                 I              I
ing 1912 ...........................-1       ---1  .     $263,160 921   $267,506
55
Surplus Dec. 31, 1911                   1 $146,63c              ... .............
Surplus Dec. 31, 1912 ..................     142,293 561 ............ . 
      .
Decrease in surplus during 1912 ....      ............ I      4,345 63
Totals . ......................... ..........        $267,506 551   $267,506
55
I        .  I                       -  -I
Per cent of losses incurred to premiums earned, 676.
Per cent of underwriting expenses incurred to premiums earned, 9.89.
Per cent of total losses and expenses incurred and dividends declared to
total
income earned, 101.5.