BRITISH   & FOREIGN M     RINE INS. CO.                1073
All otlier licenses, fees and taxes:
lederal (eorl)oration tax ........  ...................  $2,238 56
State, county and municipal licenses ...............    1,326 73,
,5(65 29.
Other disbursements:
Auditing accounts .$..792......................         4,792.:17
T1 raveling expenses ...........   ................. f688 19
Policy fees aiil(l coImmiiiissionl oH recoveries on relim-
stiran'ce placedi aroi   ........i...................  2,643 03
Miscellaneous expenses ....................2.....       ",439 51
_ ___  ___     10(,568G< G
Rtemitted to home office                   .           .917,694 15
Gross loss on sale or maturity of ledger assets: Bonds..     .         4,037
65
Gross decrease, by adjustment, in book value of ledg-er assets:
Bonds               ...6, ,-......................                   6. 462
97
Total disbursements .....$...       ... ;                    $1,622,211.
583
Balance ...............................................  1=663=06=18
LEDGER ASSETS.
Blook  value  of   boiids,  $836,259.87,  and  stocks,
$1-64,380.01 .   .............................$.......  $1;, (, 000), 86
Cash in compaiiy's office ...... ........     300 00
l)eposits in trust companies and banks
not oln interest .  ......................  28, 943 35)
29,243 35
Agents' balances representing business written sub-
sequent to Oct. 1, 1912 .............................. 6 14,797 15
Agents' balances representing business writtenl prior
to Oct. 1, 1912.          ..........                   14,963 22
Other ledger assets, accounts receivable:
Cash advanced to lawyers in connection with col-
lision, losses, etc ............                      1,750 0(1
Balance of account lue from Royal Ins. Co.. Ltd.,
.subsequentt Oct. 1, 1912, $1,564.99; lrior Oct. 1,
1912t, $102.61 ..... I .................................   :1,   60
'rotal ledger assets                   .$1,663,061 1S
NON-LElDGERZ ASSETS.
Inlerest acerued oii bonds        1..2 J 271 24
Other non-ledger assets:
Due fromi other compailies for reinsuraiice omi losses already paid .  17,877
:17
Gross assets ............................................    $1, 694,209()
7T)
DElDUC'r ASSETS NOTI ADMITTED'l      .
Agents' balances repsreselnting business written prior
to Oct. 1, 1912 ........ ..                   ...   $14,963 22
Book value of ledger assets over market value:
Book value bonids and stocks ........ $1,00,639 86
Less muirklet value bon1ds and stocks..  972,250 00
28,389 86
Accounts receivable, cash advanced to lawyers as
above .                                               1,750 00
Royal Ins. Co., Ltd., balance prior to Oct. 1, 1912 ...   102 61
45,2(15 69
Tl'otal admitted assets      ,                        .......t.o$...........
Jil,   . 1,0149,004 10