582                           LUMBER     INS. CO.
LUMBER INSURANCE COMPANY
New York City.
Home Offlce, 84 WILLIAM STREET.
[Incorporated June 1, 1904; commenced business June 15, 1904; admitted Dec.,
1996.]
President, G. A. MITCHELL.                  Vice President, W. H. GRATWICK.
Secretary, R. H. McKELVEY.
CAPITAL STOCK.
Ainount of capital paid up in cash ........  ..........  $400,   00
Amount of ledger assets December of previous year ............   ..   $928,326
14
INCOME.
Fire.
Gross premiums ..............                           $744,990 34
Deduct gross amount paid for reinsurance, fire,
$152,456.52; return premiums, fire, $1,85,708.01 .  ......  337,864 53
Total premiums (other than perpetual) ......         .....      $407,101
81
Gross interest on bonds and dividends on stocks ...      $27,911 99
Gross interest on deposits in trust companies and
banks .     ...........................................  1,584 66
Total gross interest and rents .......      ........................  29,496
65
From  agents' balances previously charged off .....      ...............
 1 95619
Gross increase. bv   adjustment, in book valueF of1
ledger assets: Bonds ...........       .................................
 294 58
Total income ..............     ..................................  $438,849
23
Total footings ..........     ..................... .......... $1,367,175
37
DISBURSEMENTS.
Fire.
Gross aimouunt paid policyholders for losses (includ-
ing $43,077.57 occurring in previous years ..........$ 340,622 73
Deduct amount received for salvage, fire, $1,697.M;
reinsurance, fire, $112,922.54; discount, fire, $247.38..  114,866 98
Net amount paid policyholders for losses .....       ............. $225,
755 75
Expenses of adjustment and settlement of losses .....      ............ 
4,046 88
'ommissions or brokerage .........         ...............................
 156,071 04
Salaries, fees, and all other charges of officers, directors, trustees
and home office employes .....................    ...................  13,002
M0
R elits .   ...............................................................
1,060   73
Adfvertising . ...........................................................
 Inn 7,8
TegPal exnenses .         ...................................................
 3, 093 49
TTIjdep'r1riters' boards and tariff associations ............... ..     3,373
07
Fire department, fire patrol and salvage corps assessments, fees.
taxes                                              .....316 60
State taxes on premiums       ..................... ....................
 8,234 89
Tnsquracep department licenses and fees .......   ....................  4.365
24
Other disbursements.
Auditing .$7...........................................   165 00
Rent for safe deposit box ........    ..................    45 00
Fidelity bonds .................. ....................     402 50
Comtmission on bo-id sale ..    .........................    5 00
Exchange and collection charges ...................        20 23
2,197 73