100        REPORT OF THE COMMISSJONER OF INSURANCE.
FINANCIAL CONDITION
The financial condition of the exchange as of May 31, 1913,
is shown by the following statement:
Ledger assets, December 31, 1912, as follows:
Cash in banks .........    ............... $310,544.16
Bonds   ...............  ................  455,674.01
Bills receivable .......    ...............  5,340. 35
Subscribers balances ......    ............  103,318.88
Total .... .................................     $874,877.40
Income
Gross deposits written ...................   $351,520.96
Less return deposits ..................        46,046.25
Net deposits ............ ......................       305,474.71
Interest received ...........    ..........................    9,342.81
Total income ..............................          $314,817.52
Sum carried forward..I ...      ...          $1,189,694.92
Disbursements
P'aid losses to subscribers ...................... I ........  $166,573.30
Dividends returned to subscribers ......     ...............  83,388.24
Commissions paid attorney ............................        75,341.83
Advisory committee's expense .......      ..................   3,294.79
Total disbursements ............    ................  $328,598.16
Balance .      ..................................  $861,096.76
Ledger Assets
Cash in office .$35,036.74
Cash in banks .215,069.13
Book value of bonds ..................................       498,865.88
Bills receivable ............    ..........................    6,634.42
Balances of subscribers .       ............................  105,490.59
$861,096.76
Assets not Admitted
Book value of bonds over market value:
Bonds in default, Kansas City Ry. &
Light Co., first lien ref. 10 yr. Gold
5% M. and N. matures May 15, 1913,
carried at market value of 85% .... $139,487.'50
Book value of bonds over market value       8,290.91
147,778.41
Admitted assets ................................      $713,318.35