A.M. Best Company.

Best's insurance reports, Volume 17 online

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1915, $61,393.14; profit on investments during 1915, $28,-
352.50; investment income earned during lSft5, $89,745.64;
loss on investments during 1915, $288.13; investment ex-
penses incurred during 1915, $7,009.74; investment losses
and expenses during 1915, $7,297.87 ; gain from investments
during 1915, $82,447.77.

Gain and Loss Exhibit, 1915. — Gain from investments,
$82,447.77. Losses: Underwriting, $6,484.93; dividends to
stockholders, $25,000; total, $31,484.93. Surplus, Decem-
ber 31, 1914, $393,275.75; increase, $50,962.84; surplus, De-
cember 31, 1916, $444,238.69.



MERCANTILE FIRE INSURANCE COMPANY,



Toronto, Ont.



Admitted Assets, December 31, 1915.

Bonds and stocks owned (market value)... $341,266 80

Interest due and accrued thereon 570 28

Cash in banks and office 73, 908 71

Agents* balances not over three months due. 34. 680 81

Reinsurance due from other companies 230 21

TOTAL ADMITTED ASSETS $450, 665 81



Liabilities, December 31, 1915.

Losses adjusted, due $13, 927 00

Unearned premiums 170, 614 33

Accrued taxes 3, 476 OO

TOTAL LIABILITIES $188, 016 33

CAPITAL PAID IN 60, 000 00

NET SURPLUS 212, 639 48

TOTAL $450, 655 81



GsNEBAL Review.

History. — This company commenced business November
1, 187i5, with an authorized capital of $600,000, of which
$250,000 has been subscribed and $50^000 paid in. Its head
office was formerly located at Waterloo, Ont., but was moved
to Toronto early in 1916. The company has deposited
bonds worth over $160,000 with the insurance authorities
of the Dominion of Canada to protect policyholders.

The par value of the stock is $100 per share.

Management and Reputation. — The company is well
managed and is making good progress. It is owned by, and
its policies are guaranteed by, the London and Lancashire
Insurance Company, Limited, of Liverpool, England, It is
under the same mianagement as the Canadian Branch of the
London and Lancashire.

Affiliations. — Canadian Fire Underwriters Association,
Western Canada Fire Underwriters Association, Mainland



Board of Fire Underwriters, New Brunswick Board of Fire
Underwriters.

Class of Business Written. — Fire insurance.

Territory. — It operates in Canada in all the Provinces
except Nova Scotia, Prince Edward Island and Quebec.

Officers. — President, William A. Sims; managing di-
rector, Albert E. Blogg; secretary, Alfred Wright.

Dtrcc*or«. — Blake, A. W.; Winnipeg; Blogg, Albert E.,
Toronto; Dobbin, T. F., Montreal; Howie, George C,
Toronto; Sims, Wm. A., Herts, England.

Income, 1915. — Net premiums written, $225,247.06; in-
terest, etc., $17,127.53; total income, $242,374.59.
2 — B^t's Authors corrections

Disbursements, 1915. — Net losses paid, $136,227.67; un-
derwriting expenses, $82,581.94; dividends to stockholders,
$27,500; total disbursements, $246,309.61.



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BEST'S INSUEAXCE EEPORTS — FIKE AND MARINE.



227



MERCANTILE INSURANCE COMPANY OF AMERICA,
New York, N. Y.



Admitted Assets, Degembkb 31, 1916.
Bonds and stocks owned (market value) ... $2, 649, 990 00

Interest due and accrued thereon 31, 418. 74

Cash in banks and office 93, 624 16

Agents* balances not over three months due. 137,663 94
Other admitted assets 600 00



TOTAL ADMITTED ASSETS $2,.913, 196 84

Par Market

BONDS AND STOCKS OWNED: value. value.

Lnited SUtefl-Panama Canal 3% reg. b., 1961.. flO.OOO $10,200

Brooklyn a^% Wallabout reg. bonds, 1926 60.000 ^ 47,260

N. Y. City 3^% App. Div. Sup. Ct. r. b.. 1929. 68.000 49,820

N. Y. City 3Vi% Bklyn. sch. h. p. r. b., 1967. 26,000 28,000

N. Y. City 3^% rapid trau. reg. bonds, 1949.. 25,000 22,260

New York City 4%% water reg. bonds, 19W.... 60.000 68,000

New York State 4% canal imp. reg. bds., 1961. 60,000 61,600

Atch., T. &. S. Fe T. S. L. 4% reg. bds., 1966. 60,000 44,500

Atch., T. & S. Fe Ry. 4% adj. m. reg. b.. 1906. 50,000 43,500

Atlantic Coast Line 4% 1st con. m. r. b., 1962. 60,000 47,000

B. & O. RR. Co. 4%% 20-yr. c. g. r. b., 1983. 60.000 48.500

B. & O. RR. 3^% prior Uen mtg. reg. b., 1926. 75,000 69,760

B., R. k Pitts. RR. 4V6% c. 60-yr. m. r. b., 1957 46,000 46,920

Central Pacific Ry. 4% 1st ret. mtg. r. b.. 1949. 50.000 45.000

Chi., Milw. & St. P. 4H% c. g. r. bds., 1982.. 50,000 M,600

Chi., Milw. & St. P. 4% 26-yr. deb. r. b., 1984. 50,000 46,000

Chi., M. & St. P. 4% ser. A g. ra. r. b., 1989. 50,000 46,000

Chicago & N. W. Ry. Co. 4% g. m. r. b., 1987. 60,000 57,000

Chicago & W. Ind. RR. Co. 4% m. r. b., 1952. 50,000 40,000

Del. k Hud. Co. 4% 1st & ref. mtg. r. b., 1948. 66.000 63,050

Del. & Hud. Co. 6% 20-yr. conv. reg. b., 1935. 50,000 58,000

Detroit Ter. k T. 4^% 1st m. 50-yr. r. b., 1961. 50,000 46,500

Gt. No. RR. 4%% l8t & ref. mtg. reg. b., 1961. 50,000 50,000

G. Trunk Ry. Co. 4ViJi s. C eq. g. n. c. b., 1920 30.000 29.100

G. Trunk Ry. Co. 4^% s. C eq. g. n. c. b., 1921 20,000 19,200

L. S. & Mich. So. Ry. Co. 4% 25-yr. r. b.. 1928. 60.000 47,500

Louis. & Nash. RR. Co. 4% u. 50-yr. r. b., 1940 75.000 71,250

Manhattan Ry. Co. 4% con. mtg. reg. b., 1990. 50,000 46,000

Morris & Essex RR. 8>^% Ist ref. m. r. b., 2000. 60.000 43,500

N. Y. C. & H. R. 4% deb. reg. bonds, 1942 50,000 45,500

N. Y. C. & H. R. 3\^% ref. reg. bonds, 1997... 50,000 41,600



Genisal Review.

History, — This company is a continuation of the North
British and Mercantile Insurance Company which was in-
corporated under the laws of New York August 4, 1897,
with $200,000 authorized capital (par value of shares $100
each). It began business October 1^ 1897, T^ith its capital
fully paid, and $100,000 surplus. On November 1, 1915,
the name was changed to the " Mercantile Insurance Com-
pany of America." It is controlled by the North British
and Mercantile Insurance Company of London, England.

On Novemfber 1, 1916, the capital of the Mercantile In-
surance Company was increased from $200,000 to $1,000,000
by the capitalization of $300,000 cash surplus, paid in by
the stockholders years ago; by capitalizing $200,000 of
earned surplus and by the payment in cash of $300,000 for
3,000 shares of new stock at par.

Management and Reputation. — This company is under
the same management as the parent company, and has
made excellent progress. The volume of business written
is conservative; its expense of management is low, and its
average loss ratio has been very low. Its business has been
very profitable.

It is in excellent repute in the matter of loss settle-
ments, both under ordinary conditions and in settling claims
which have arisen through conflagrations.



LlABUJTIBS, Decsmbeb 31, 16d5.
LOSSES: Adjusted, due, $9,555; in process

of adjustment, $66,407.94; resisted, $965;

total, $76,927.94; reinsurance, $17,009.08;

net

Unearned premiums: One year or less,

$285,118; more than one year, $378,-

593.67; total

Salaries, rents, etc., $2,500; accrued taxes,

$23,321

Other liabilities



$59,918 86



663,711 57

25,821 00
8,021 27



TOTAL LL^ILITIES $757,472 70

CAPITAL PAID IN. 1,000,000 00

NET SURPLUS 1, 155, 724 14



TOTAL $2, 913, 196 84



Par

value,

.v. Y. C. & H. R. (L. S. Coll.) 3%% r. b., 1998. 50,000

N. Y. Tel. Co. 4\^X Ist & g. s. f. m. r. b., 1939. 50,000

N. Y. & W. Ltg. Co. 4% g. ra. r. c. bds., 2004. 50,000

N. Y., W. & Boston RR. 4^% 1st m. r. b., 1946. 50,000
No. PacUt. No. Jt. (C, B. JB Q. ColL) iX

coup, bonds, 1921 50,000

Oregon Sliort Line 4% ref. 25-yr. reg. b., 1929. 50,000

O.-W. RR. & Nav. Co. 4% 1st r. m. r. b., 1961. 60,000
Reading Co. & Phila. ft Reading Coal k Iron

4% gen. mtg. reg. bonds, 1997 60,000

So. Ry. Co. 5% 1st c. m. 100-yr. g. r. b., 1994. 50,000

So. Pac. RR. Co. 4% 1st ref. mtg. reg. b., 1955. 60,000

Southern Ry. Co. 4% scrip coup, bonds, 1919... 2,000
St. L)uis, Peoria & N. W. Ry. Co. 5% 1st mtg.

gold reg. bonds. 1948 60,000

St. P., M. & M. Ry. 4V4% c SO-yr. m. r. b., 1988 50,000

Inion Pacific RR. Co. 4% 20-yr. c. r. b., 1927. 100,000

Allegheny & Western Ry. Co. guar, stock 10,000

Atch., Top. & S. Fe Ry. Co, pref. stock 100,000

Baltimore & Ohio RR. Co. pref. stock 50,000

Chi., Milw. & St. Paul Ry. pret. stock 100,000

Chicago ft N. W. Ry. Co. pref. stock 80,000

Cleveland ft Pittsburg RR. Co. guar, stock 80,000

Erie RR. Co. Ist pref. stock 40,000

Reading Co. Ist pref. stock 80,000

Southern Ry. Co. pref. stock 100,000

So. Ry., Mobile ft Ohio tr. ctfs. stock 50,000

I'nion Pacific RR. Co. pref. stock 50,000

Totals $2,826,000



Market
value.
89,000
49,600
41,000
41,000

49,000
46,500
4)4,000

47,600
61,600
46,000



68^600

51,600
96,000
13,200

102,000
39,000

185,000
62,600
28,200
28,600
67,200
62,000
85.000
41,500



12,649,990



Its investments are of excellent character.

Affiliations. — Eastern Union, Western Union, Southeast-
ern Underwriters Association, Board of Fire Underwriters
of the Pacific, Rocky Mountain Underwriters Association.

Classes of Business Written. — Fire, tornado, autombile
and sprinkler leakage insurance.

Territory. — It is licensed in Cal., Colo., Conn., D. C,
III., Ind., la.^ Ey., La., Kan., Me., Md., Mass., Mich., Minn.,
Mo., Neb., N. H., N. J., N. Y., N. C, Ohio, Ore., Pa., R. I.,
Tenn., Tex., Wash., W. Va. and Wis.

Dividends. — It paid a dividend of 6% in 1902 and 10%
each year since on the $200,000 capital ; total dividends since
organization, $272,000.

Officers. — President, E. 6. Richards; vice-president, J.
F. Hastings; secretary, Robert Newboult; assistant secre-
tary, A. T. Bjjlings.

Directors, — '

Sands, B. Aymar, Bowers & Sands, New York.

Iselin, Jr., Adrian, A. Iselin & Co., New York.

Juillard, A. D., A. D. Juillard & Co., New York.

Stillman, James, New York.

Hamilton, Wm. Pierson, J. P. Morgan &, Co., New York.

Speyer, James, Speyer k Co., New York.



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228



BEST'S INSURANCE REPORTS— FIRE AND MARINE.



MERCANTILE INSURANCE COMPANY OF AMERICA — Continued.



Brown, Chas. S., Douglas Robinson, Chas. S. Brown &
Co., New York.

Boldt, Geo. C, Waldorf-Astoria Hotel, New York.

Sielcken, Hermann, Crossman & Sielcken, New York.

Richards, E. G., president, New York.

Hastings, J. F., vice-president, New York.

Stockholders' Annual Meeting. — Last Thursday in
January.

Income, 1915. — Net premiums written, $777,380.01; in-
terest, etc., $91,173.89; total income, $868,653.90.

Disbursements, 1916. — Net losses paid, $227,664.49; un-
derwriting expenses, $303,317.71; dividends to stockholders,
$20,000; other disbursements, $3,796.91; total disburse-
ments, $564,669.11.

Ratios to Premiums Written, — Losses paid, 29.3 % ; in-
curred, 31.3% ; underwriting expenses, 39.0% ; underwriting
profit, 3.4%.

Ratios to Premiums Earned. — Losses incurred, 41.1%;
expenses incurred, 54.4 % ; underwriting profit, 4.6 % .

Miscellaneous, 1916. — Net losses incurred, $243,800.97;
net risks in force, December 31, 1915, $144,026,629; net pre-
miums in force, $1,267,540; largest net aggregate amount
insured in any one hazard located anywhere in the United
States, $20,000.



Underwriting Exhibit, 1915. — Premiums earned during
1915, $592,617.06; loss from imderwriting profit and loss
itmes, $132.50; underwriting income earned during 1915,
$592,384.56; losses incurred during 1915, $243,800.97; un-
derwriting expenses incurred during 1915, $322,159.98; un-
derwriting losses and expenses, $565;960.95; gain from un-
derwriting during 1915, $26,423.61.

Investment Exhibit, 1915. — Interest, rents earned during
1915, $98,848.40; profit on investments during 1915, $14,-
028.30; investment income earned during 1915, $112,876.70;
loss on investments during 1915, $511.79; investment ex-
penses incurred during 1915, $3,110.19; investment losses
and expenses during 1915, $3,621.98; gain from invest-
ments during 1915, $109,254.72.

Surplus, December 31, 1914, $1,540,033.63; decrease,
$384,309.49; surplus, December 31, 1915, $1,165,724.14.

Premiums and Losses on Miscellaneous Classes of Busi-
ness. — Motor vehicles, net premiums written, $159,629.06:
net losses incurred, $24,702.04; windstorm and tornado, net
premiums written, $4,249.28; net losses incurred, $405.85;
sprinkler leakage, net premiums written, $5,963.56; net
losses incurred, $1,671.84.



MERCHANTS' FIRE ASSURANCE CORPORATION,
New York, N. Y.



Admitted Assets, Decembeb 31, 19 IS.

Mortgage loans on real estate $199, 400 00

Interest due and accrued thereon 2, 31341

Bonds and stocks owned (market value) ... 916,021 00

Interest due and accrued thereon 5, 926 23

Interest due and accrued 81 10

Cash in banks and office 39, 327 86

Agents' balances not over three months due. 117,496 96



Liabilities, Decembeb 31^ 1A15.

LOSSES: Adjusted, due, $8,226; not due,
$70,019; total, $78,245; reinsurance, $22,-
715; net

Unearned premiums: One year or less,
$217,863.81; more than one year, $201,-
134; total

Reserve for taxes and contingencies



$55,530 00



418,997 81
80,000 00



TOTAL LIABILITIES $554,527 81

CAPITAL PAID IN 200,000 00

NET SURPLUS 526, 038 75



TOTAL ADMITTED ASSETS $1, 280, 566 56



TOTAL $1, 280, 566 56



Par Market

BONDS AND STOCKS OWNED: value. value.

B. & O. RR. Co. 4%% 20-yr. conv. g. b., 1933. $20,000 $19,400

B. & 0. RR. Co. 5% 8. A r. & g. m. bda., 1906. 20,000 19,800

Chi., Milw. & St. P. Ry. Co. 6% conv. gen. &

ref. mtg. gold bonds, 2014 20,000 21,000

Chi., R. I. & Pac. Ry. Co. 4% Ist & ref. mtg.

gold bonda, 1934 20,000 18.200

Erie RR. Co. 4% 60-yr. c. g. ser. B b., 1953.. 20,000 16.400

Interb. R. T. Co. 5% lat & ref. ra. g. b., 1906. 10,000 9,900

N. Y., N. H. k H. RR. Co. 6% c. d. bda., 1948. 80,000 85.100

N. Y. C. RR. Co. 6% conv. gold deb. bda., 1936. 20,000 22,800
N. Y. C. & H. B. RR. Co. 4%% ref. & imp.

mtg. bonds, 2013 20,000 18,800

So. Vac. Co. r>'' 20-vr. conv. gold bda., 1984... 10,000 10.800

Union Pac. RR. Co. 4% 20-yr. conv. g. b., 1927. 20,000 18.600

West. Md. RR. Co. 4% 1st m. 50-yr. g. b., 1962. 10,000 7,300

Amerif-an Agri. Chem. Co. 5'', c. g. d. b., 1924. 20,000 19,400

Amer. Smelters S. Co. 6% 15-yr. s. f. g. b., 1926. 16,000 18.400

Cons, r.as C^. of X. Y. 6% conv. deb. b.. 1920. 80,000 88,100

Cons. Coal C/^i. rt'/ 10-vr. conv. spc. g. b., 1923. 10.000 10,400

The Toxas C^. «•': oonv. gold dob. bonds, 1931. 20,000 21,000

Va.-Car. C. Co. 6% lO-yr. a. f. c. g. d. b., 1924. 20,000 20,600

Whotiso Elec. & Mfg. Co. 5% c. s. f. g. b., 1981. #0,000 27.800

Atch., Top. Sc S. Fe Ry. Co. com. stock 30,000 32,400

Chicago. Burlington & Quincy RR. stock 14,100 81,161

Great Northern Ry. Co. pref. stock 40,000 50,800

Manhattan Ry. Co. stock 10,000 13.300

Norfolk & Western Ry. Co. com. stock 10.000 12.200

Northern Pacific Ry. Oo. ftock 10,000 11,800



Reading Co. com. stock

.\8tor Trust Co. stock ,

Bankers Trust Co. stock

Chase National Bank stock

Eqyitable Trugt Co. stock

Guaranty Trust Oo. of N. Y. stock

Guaranty Trust Co. of N. Y. stock

National City Bank of N. Y. stock ,

Title Guarantee & Trust Oo. stock

r. S. Mtg. & Trust Co. stock

.^mfriean Intern.Ttional Corp. com. stock

Brooklyn I'nion G;^s Co. stock

Cons)lidatod Gas Co. of N. Y. stock

Corn Proihicts Refining Co. pref. stock

(ialena Sicnal Oil Co. com. stock

General Electric Co. stock

(ireat N<»rthern Iron Ore Properties stock..

Lawyers Mtg. Co. stock

Otis Elevator Co. stock

The Pullman Co. stock

Republic Iron & Steel Co. pref. stock

Virginia-Carolina Chemical Co. pref. stock.
Virginia-Carolina Chemical Co. scrip notes. .

Virginia Iron, Coal & Coke Oo. stock

Wells Fargo Sc Co. stock

Western Union Telegraph Oo. stock



Totals.



Par
value.

10,000
1,000
5,000
6,000
6,000
7,600



1,000
5,000

2,500

io.ooo

10,000
10,000
10.000
20,000



5.O0O
9,000
10,000
10,000
10,000



10,000
10,000
60,000



$696,100



Market

value.

16,70e

3,950

23,760

31,250

22,300

81.350

7,876

4,700

20.000

9,^5

760

13,400

14,400

9,500

16,400

85,200

5,100

9,050

6.210

16.500

11,300

11,300

400

6.500

13.200

54.000



1916.021



Genebal Review.
History. — This company was incorporated under the
laws of New York in February, 1910, with $200,000 au-
thorized capital (par value of shares $100 each). It began



business March 1, 1010, with its capital all paid in and a
surplus of $300,000. In January, 1916, the capital was
increased to $400,000; the new stock was divided equally
into common and preferred. The common stock was offered



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BEST'S IJs^SURAXCE EEPORTS — FIRE AXD MARINE.



229



MERCHANTS' FIRE ASSURANCE CORPORATION— ConHnued.



to the stockholders at par^ and the preferred stock was
issued as 7% accumulative and offered pro rata to the
stockholders at $105 per share.

It was organized by E. L. Ballard, its president, formerly
vice-president of the Continental Insurance Company of
New York.

Management a/nd Reputation, — The company is well
managed and is making very good progress. It has made
an underwriting porfit in each of the past five years. For
a young company this is an unusual record.

The volume of business written is conservative and its
management expenses are very low.

The company is controlled by men prominent in busi-
ness and financial circles, its control being in a compara-
tively few hands. On December 31, 1916, the directors
owned $113,400, par value, of its $200,000 capital stock.

It is in excellent repute in the matter of loss settle-
ments. Its average loss ratio is extremely low.

The mortgage loans are well secured by improved prop-
erty in New York and Brooklyn.

The securities owned are of excellent character.

Classes of Business Written. — Fire, inland and ocean
marine, tornado and sprinkler leakage insurance.

Territory. — It is licensed in Cal., Colo., Conn., 111., Ind.,
la.. La., Mass., Mich., Minn., Mo., Mont., N. J., N. Y., Ohio,
Ore., Pa., Texas, Utah, Wash, and W. Va.

Dividends. — It paid dividends of 10% in 1912 and 1913,
12% in 1914 and 16% in 1915; total dividends paid since
organization, $96,000.

Officers. — President, Edward L. Ballard; vice-president
and secretary, Alden C. Noble; secretary, William B. Carter;
assistant secretary, Alfred A. Moser.

Directors, —

Ballard, Charles W., D. S. Walton & Co., New York.

Ballard, Edward L., president.

Cutler, Bertram, 26 Broadway.

Hilton, Frederick M., Wm. A. White & Sons.

Luke, John G., president West Virginia Pulp and Paper
Co.

Marston. Edgar L., Blair & Co., bankers.

Millett. Stephen C, Millett, Roe & Hagen, bankers.

Morgan, Samuel T., president Virginia-Carolina Chemical
Co.

Noble, A. C, vice-president of company.

Rockefeller, John D., Jr., 26 Broadway.

Roe, Alexander V., Millett, Roe & Hagen, bankers.



Rogers, Hubert E., Creevey & Rogers, attorneys.

Shepard, Finley J., 165 Broadway.

Stockholders* Annual Meeting. — Fourth Monday in
January.

Income^ 1915. — Net premiums written, $596,855.40; in-
terest, etc., $45,436.82; gross profit on sale or maturity of
ledger assets, $18,996.56; gross increase by adjustment in
book value of ledger assets, $32,760.02; total income, $694,-
048.75.

Disbursements, 1915. — Net losses paid, $216,386.20; un-
derwriting expenses, $188,088.46; dividends to stockholders,
$32,000; gross loss on sale or maturity of ledger assets,
$11,125.70; gross decrease by adjustment in book value of
ledger assets, $3,105.50; other disbursements, $1,186.13;
total disbursements, $451,891.99.

Ratios to Premiums Written. — Losses paid, 36.2%; in-
curred, 36.7% ; underwriting expenses, 31.5% ; underwriting
profit, 1.1%.

Ratios to Premiums Earned. — Losses incurred, 44.8%;
expenses incurred, 53.8% ; underwriting profit, 1.3%.

Miscellaneous, 1915. — Net losses incurred, $218,928.20;
net risks in force, December 31, 1915, $72,027,713; net pre-
miums in force, $773,993.54; largest net aggregate amount
insured in any one hazard located anywhere in the United
States, $10,000.

Undenoriting Exhibit, 1915. — Premiums earned during

1915, $488,601.52; losses incurred during 1915, $218,928.20;
underwriting expenses incurred during 1915, $263,088.46;
underwriting losses and expenses, $482,016.66; gain from
underwriting during 1915^ $6,584.86.

Investment Exhibit, 1915. — Interest, rents earned during

1916, $49,067.16; profit on investments during 1916, $116,-
152.83; investment income earned during 1915, $165,219.99;
loss on investments during 1915, $14,231.20; investment
expenses incurred during 1915, $1,186.13; investment losses
and expenfles during 1915, $15,417.33; gain from invest-
ments during 1916, $149,802.66.

Cfain and Loss Exhibit, 1915. — Gains: Underwriting,
$6,584.86; investments, $149,802.66; total, $156,387.52.
Loss from dividends to stockholders, $32,000. Surplus, De-
cember 31, 1914, $401,651.23; increase, $124,387.52; surplus,
December 31, 1916, $526,038.75.

Premiums and Losses on Miscellaneous Classes of Busi-
ness. — Windstorm and tornado, net premiums written,
$218.16; net losses incurred, $1.96; sprinkler leakage, net
premiums written, $35,711.02; net losses incurred, $936.10.



MERCHAXTS' FIRE INSURANCE COMPANY,



Denver, Colo.



Admitted Assets, December 31, 1915.



Real estate owned (market value)

Mortgage loans on real estate

Interest due and accrued thereon

Bonds owned (market value)

Interest due and accrued thereon

Loans on collateral security

Interest due and accrued thereon

Cash in banks and office

Agents* balances not over three months due.

Bills receivable taken for premiums

Other admitted assets



TOTAL ADMITTED ASSETS.



$16,415 14

270,206 05

6,819 16

127,419 00

2,309 50

332 86

23 68

35,755 19

32,220 62

107 65

617 78

$492,226 63



Liabhjties, Decembkb 31, 1915.
Losses in process of adjustment, $12,549.16;

reinsurance, $459.37 ; net $12, 089 79

Unearned premiums 153, 251 00

Accrued taxes 1, 580 19



TOTAL LIABILITIES $166, 920 98

CAPITAL PAID IN 200, 000 00

NET SURPLUS 125, 305 65



TOTAL



$492,226 63



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230



BEST'S INSURANCE REPORTS— FIRE AXD MARINE.



MERCHANTS' FIRE INSURANCE COMPANY— Continued,



Par Market

BONDS OWNED: value. value.

Ault, Colo., 6% bonds, 1922 fS.OOO $3,000

Weld Ck)., Ctolo., 5% bonda, 1921 2,000 2.000

Denver, Colo., 6% bonds, 1922 100 100

Larimer Co., Colo., 6% bonds, 1929-49 , 8,000 8,120

Routt Co., Colo., 6% bonds, 1929 1,800 1,654

Rocky Ford, Colo., 6% bonds, 1925 8,000 8,240

Ft. Morgan Irrigation, Colo., 6% bonds, 1921.. 12,000 12,000

Arapahoe Co., Colo., C% bonds, 1960 10,600 11,840

Arvada, Colo., 6% bonds, 1926 10,000 10,200

San Luis Valley Irrig., Colo., 6% bonds,^929.. 10.000 10,000

Limon, Colo., 6% bonds, 1926 8,600 8,500

Johnstown, Colo., 6% bonds, 1927 6,000 6,060

Steamboat Springs 6% bonds, 1926 6,000 6,060

Montrose, Colo., 5%% bonds, 1942 8,000 8,180

La Junta, Colo., 6% bonds, 1927 3,000 8,060

Montrose, Colo., S^Z bonds, 1932 1,600 1,660

Prowers Co., Colo., 6% bonds, 1982 3,000 8,090



Par Market

value. value.

DelU, Colo.. 5MX bonds, 1926... 6,000 6,100

Del Norte, Colo., 6% bonds, 1928 600 606

Adams Co., Colo., 6% bonds, 1933 1.500 1.615

Morgan Co., Colo., 6% bonds, 1984 8,600 8,606

Mead, Colo., 6% bonds, 1929 8,600 8,500

Adams Co.. Colo., 6% bonds, 1935 8.000 8.080

Archuoeta Co., Colo., 6% bonds, 1935 1,800 1,908

Weld Co., Colo., 6% bonds, 1936 2,400 2,644

Larimer Co., Colo., 6% bonds, 1946 6,000 6,800

Yuma Co., Colo., 6%% bonds, 1985 1,000 1,020

Conejos Co., Colo., 6% bonds, 1935 1,800 1,326

Otero Co., Colo., 6%% bonds, 1920 6,000 6,100

Weld Co., Colo., 6% bonds, 1M5 1,900 2,062

Fremont Co., Colo., 5%% bonds. 1935 3.000 3,066

Brighton, Colo., 5% bonds, 1922 1.500 1.502

Totals $124, 300 $127,419



Gbnebal Review.

History. — ♦his company was organized under the laws
of Colorado in July, 1907, with $50,000 capital (par value
of shares $10 each) and $25,000 surplus. It succeeded the
Merchants Mutual Fire Insurance Company.

In December, 1909, the Mercantile Fire Insurance Com-
pany of Denver, which was under the same management,
was merged with this company and its capital was increased
to $200,000.

Policies under the title "Mercantile Fire Underwriters
of Denver," are guaranteed by this campany.



Online LibraryA.M. Best CompanyBest's insurance reports, Volume 17 → online text (page 62 of 146)