MICHIGAN COMMERCIAL INS. CO.                     621
UNDE IWlXRITING AND IN VESTM1ENT      ILe'IB IT.
*                       ~      ~     ~    ~~I  I  -
I            I
UNDEIIWRlTl'IN(G EGXHIBI'T.  II
Prenemiums.           I
't'otl  pllelilniluS  .........I    $81...9........ 9 , 100  421 ........
. 1
Add unearned. I)reiniums Dec. :It of1
prejious Years ............1...... 1 -I, 9 311 -..............-.............
Total ...                       868,691 731 ..      .       .......
Deduct unearned premiums Dec. 31,1            I
end  of  the  yeai  ..........2.....       2..............  ..............
Premiums earned during the year ...................1 $612,602 611.
UNDERWRITING PROFIT AND                                 I
LOSS ITEMS.          I            1
Agents' balances nnd bills        1                       *
receivable'not admitted
Dec. 31, 1911 . ...........  $790 721 .. .... 1..
Agents' balances and bills       I            I
receivable not admitted         1
Dec. 31, end of the yeaC  1.446 361 ......   1             !
,   .   I       l           I
Loss from  underwriting profit andl           I           1
loss items ...........                   -          655 64 1......
Underwriting income earned during             I
the year .                      .            1           I $611,916 97
*~~                          ~ I    I.
LOSSES.                          I
pail I                           I
Tosses p.id ....       .......      $402,311 411 .................l
Deduct unpdiid losses December 31 ofl         I           I
previous year .....    ....... !     57.425 121......... !
Balance ......                 $344,886 291 ..........  I
Add lunpaid losses December 31, endl          I
of the year ..       ...... l       .34, 6.636 30!..
Losses incurred during the ye$                     ,5 .2....9............................
NI)lERWRITING INXPENSES.       I
1;I-derwriting expenses paid Iuiring I
tl~e  year  .....               1  $197, 035  J 5 I ..............  ..............
Donluct unfle-writing expenses unpaidl        I
December 31 of previous year .  I   15 7. 00o (10 .
Baq lancee .........1 $182,035 15 !.
Afld underwriting expenses unpaid!            I
December 31, end of the year ..... .  15.4(00 00 !.
I   rlclerwriting expenses incurre(1 dur-l
ing the year .......................I  ...... l  197,435 1 .
Underwriting losses and expenses ...............................  5 176!,957
74
I ~   ~~~ !
Gnin from  underwriting during thel           I
ing the year .      ................................ 1        1 qQi '
INVESTMENT EXHIBIT.         !            t           I
Interest and Rents.      I            !
Interest. dividends and rents received!
dilring the year .................... 1  $43,620 97!.   .............,..l
Deduct interest, dividends and rents!         I           I
accrued December 31, end of the!
A A A I A ......... |  13,692 84.        ...........