1112            GERMANTOWN FARMERS MUTUAL INS. CO.
BUSINESS IN WISCONSIN DURING 1912.
Fire.
Gross risks written ....                                                $1,614,040
00
Less risks cancelled ....                                               
    14,700 00
Net risks written .     ............................................. $1,599,340
00
Gross premiums on risks written ..............................;.        
  $20,307 41
Less return premiums...............................................     
       339 94
Net premiums received .......................................        $19,967
47
Losses paid (deducting salvage) ........         ...........................
 $8,814 22
Losses incurred .    ......................................................
 $9,814 22


UNDERWRITING AND INVESTMENT EXHIBIT.
UNDERWRITING EXHIBIT.
Premiums.
Total premiums                    .......    $19,967 471 ........       
..............
Add unearned premiums Dec. 31, 19111          21,056 68 ..........      
..............
Total .......                          $41,024 15 ...........      ..............
Deduct unearned premiums Dec. 31,
1912 ............................     '     21,611 26 ..............
Premiums earned during 1912 ..........    .............      | ..............
 $19,412 89
LOSSES.
Losses paid ............                      $8,814 22 .......
Add unpaid losses Dec. 31,000 00.
,Losses incurred during 1911 .....9................. .$9,814 22...
UNDERWRITING EXPENSES,
Underwriting    expenses paid    duringi
1912              ... I                             1       8,544 94
Underwriting losses and expenses.....      .............. ..........    
  18,359 16
Gain from underwriting during 1912       .............. ..............  
  $1,053 73
INVESTMENT EXHIBIT.                              l
Interest and Rents.
Interest, dividends and rents received
during the year .................         $10,287 30* ...................|
Deduct interest, dividends and     rents
accrued Dec. 31, 1911 ...        ...        3,243 13 ..........        ..............
Balance .......                        $7, 044 17 ...........      ..............
Add interest, dividends and rents ac-
crued Dec. 31, 1912 ......                  3,889 91 ......
Total ...        ............... ........... ..............I        $10,934
08