1164                   FIREMENS MUTUAL INS. CO.
UNDERWRITING AND INVESTMENT EXHIBIT-Continued.
PROFIT ON INVESTMENTS.                          1 -
Gain from   change in difference he-|
tween book and market value dur-I
ilig 1912 .     .................$3,916
Gain from  other investments .9105 87I...............
I         ~      ~     ~~~~~~~~~~~~~~~~~~I
Profit on investments during 1912.........               4,022 371..............
Investment income earned during 1912 ..............                  $89,412
74
INVESTMENT EXPENSES.             I
Investment expenses paid during 191211 ..............1.............. 1  1,959
16
Gain from  investments during 1912.         .        |               $87453
5
MISCELLANEOUS EXHIBIT.                         I I  Gain in  I  Loss In
ISurplus.        Surplus.
Dividends declared   to policyholders.1
duringg 1912 .                           ........    . .      I $959,176
54
Net loss from above .            ...........................   $959,176 54
Total gains and losses in surplus dur--
i ng 1912 ....... '.                               $1,040,665 041  $959,
176 54
Surplus Dec. 31, 1911 ................ $1,079,675 161..............I.........
Surplus Dec. 31, 1912 .......           1,161,163 661
Increase in surplus during 1912 ..... .............I...............   81,488
50
Totals ..                                      $1,040,665 041 $1,040,665
04
___ _L I                      -         X_ _ __ _.  _ _ ___I_     _
Per cent of losses incurred to premiums earned, 4.1.
Per cent of underwriting expenses incurred to premiums earned, 10.2.
Per cent of investment expenses incurred to interest and rents earned. 2.29.
Per cent of total losses and expenses incurred and dividends declared to
total income earned, 93.6.