64


NATIONAL LUMBER INS. CO.


UNDERWRITING AND INVESTMENT EXHIBIT-Continued.
*           ~       ~      ~~~~~~I  I
Loss from   underwriting    profit andI
loss items             .........              ' 1           340 801 .....-.-.
Underwriting   income earned duringj
the year ...... l                                                     $227,731
19
LOSSES.
Losses paid . ........  $2,663.................... .............
Deduct unpaid losses Dec. 31 of pre-1
vious year ........                  i    16,297 24 .............. ..............
Balance .....                            $110,072 391 .............................
Add unpaid losses Dec. 31, end of the
year  ... . .. . . .. . .. . . .. . .      21, 970   081 ......... . .  
..............
Losses incurred during the year ......2..............    $132,042 47 ..............
UNDERWRITING EXPENSES.              I
Underwriting   expenses paid    duringf
the year ......................           $99,486 08 .................. ..............
Deduct underwriting expenses unpaid
Dec. 31  of  previous  year  .............  4,431  98  ..............  ..............
I          -   1-
Balance    ........................  $95,054 10 ..............
Add   underwriting   expenses   unpaidj
Dec. 31, end of the year.............1     3,449 14..............  ..............
Underwriting expenses incurred dur-                   I             I
ing the year .*                       .............. 1   98,503 241 ..............
Underwriting losses and expenses ...............       ...............  230.545
71
Loss from   underwriting   during   thel                            I
year                                 . l        .... ..-.-.|.$2,814 52
INVESTMENT EXHIBIT.
Interest and Rents.           l
Interest, dividends and rents received
during the year .............-.....      $13,795 58 .............. ..............
Deduct interest, dividends and rents
accrued Dec. 31, end of the year .....     3,114 88 ..........        ..............
Balance .........................I    $10,680 70 -.-...-.-.-.-.-.-.....-.-.-.
Add interest, dividends and rents ac-               7   .-
crued Dec. 31, end of the year.......      3,220 051........... ..............
Total ..                          .              I $13,902 751.
!          I     ~       ~~~~~~ I
PROFIT ON INVESTMENTS.             I              I             I
Gain from sale of ledger assets ........I     $605 251 ........
Gain from other investments ..........           11 67 ..............I..............
Profit on investments during the year!.I                      616 921 .............
Investment income earned during the|                  l             I
year ..                              ; 7            .....             $14,519
6;7
LOSS ON INVESTMENTS.             I
Loss from sale of ledger assets..................I........l $6....
Loss from     change in difference he-
tween book and market value during
the year .5....                             5,674 65! ...... I          
.
Loss on investments during the yearl .............. 1     $5,680 90..............