1006             PHOENIX ASSURANCE CO.
-~   UNDERWRITING AND INVESTMENT EXHIBIT-Continued.




PROFIT ON INVESTMENTS.
Gain from sale of ledger assets.......
ledger .assets ......................
Profit on itivestmnents during the year
Investment income earned during the
year ...............................
LOSS ON INVESTMENTS.
Loss from sale of ledger assets ......
Loss from  decrease in book value of
ledgler assets ......................
Loss onl investmenits during the year


$63 751..........
1,0(X) 00 ......
1,063 75
$546 871..............
~~~~~~~~~~~~~~~~~~~~~~~~~~1
38,097 50.............
..............   ...$38,644 37


..............
!  . ..  .......
!$120,273 033


INV ESTAIENT EXPENSES.
Investmient expenses paid during thel
Investment losses and expenses dur-|
ig, the year .......................
( la in frlom  investments during thel
.      .  ..e*.         ..am.............   ..............


3,771 681 ..............
I~~~~~~~~~~~~~~~~~~~~~~~~~~
.I****-*-*@--@1   42.416 05(
I .- .  -   ______ -
........         $83,856 98
1-     - - -  -


I          ~       ~      ~~~~~~~~I  I
AITSCEILLANE.   TTOITS EXHIBIT.   I               I  Gain in    I   Loss
in
Surplus.    I  Surplui.
Vece'ips fromn home offlce ........... ...............      $49,021 401...
Ileminittances to home office..                                         
  $39,971 89
Loss fromn other sources:     Furniturel
an (d fixtures ...........................I                            I
12,892 88
Net loss from   ahove ......      .      .............. ..............  
   $3,843 37
Total gains and losses in surplus dur-l                 I
ing  the  year  ....................... ..............    $83,856  981  
$42,313  61
Surplus Dee. 31, 1911 ..............        1,216,978..............    I
..............
Su  irplus  Dee. 31,  1919  ...-..         1,258,521  95!. ..............
 I.... ... .......
I.       -     I              I
Increase in surplus during the year                  .      .      .    
    41.543 37
'otaIls ...                        ..                 $83,856 981    $83.856
98


.                                                     _


Per cent of losses incurred to premiums earned, 57.41.
P'er (ent of underwriting incurred to premiums earned. 44.09.
1er cent of investment expense sincurred to interest and rents eariled. 3.01.
Per cent of total losses and expenses incurred and dividends (leclared to
total income e-arned, 98.14.