Report online

Grain frofn agents' balances previously
charged off

Loss from other underwriting dis-
bursements



$3,241,840 71 .
42.606 28'



$3,284,446 «J&j.
2,960.429 70|.



$6,253,876 69|.
3,006,428 441.



Gain from above

Agents* balances and bills

receivable not admitted

Dec. 31, end of tne year $7,192 68
Agents* balances and bills

receivable not admitted

Dec. 31, 1912 30,681 60



Loss from above



Loss from underwriting profit and
loss items



$1,094 23
175 49



.1 $3,157,448 25|
I

I

I
I

I



$918 74



23,488 92



22,570 18



Underwriting income earned duringl J " '
the year I | 1 $3,134,878 07



LOSSES.



Losses paid •

Deduct unpaid losst»8 Dec. 31 of pre-
vious year



Balance

Add unpaid losses Dec. 31, end of the
year



Losses incurred during the year



UNDERWRITING EXPENSES.

Underwriting expenses paid during
the year

Deduct underwriting expenses unpaid
Dec. 31 of previous year



$1,655,731 26!
241.190 27



$1,414,540 99
256.371 54



1



$1,670,912 53|.
I

I



I



$1,312,003 90
63,770 60



$1,248,233 30
60,710 00'



Balance

Add underwriting expenses unpaid
Dec. 31, end of the year

Underwriting expenses incurred dur .
lug the year I ' 1,308,943 30

Underwriting losses and expenses ... * 1

Gain from underwriting during the! '

year I I



2,979.855 83



$1S6.02S 84



Digitized by



GoogI(



666



NIAGARA FIRE INS. CO.



UNDERWRITING AND INVESTMENT EXHIBIT— Continued.



INVESTMENT EXHIBIT,
interest and Rents.



I



Interest, dividends and rents received
during the year I

Deduct interest, dividends and rents)
due and accrued Dec. 31, end of the
year I

Balance (

Add interest, dividends and rents due
and accrued Dec. 31. end of the!
year



$299,923 47i
30,175 93



Total



I-



$269,747 54;
31,828 49;



PROFIT ON INVESTMENTS. I

I
Gain from sale of ledger assets

Investment income earned during the)
year I,



• 1.



$301,576 03!.



— i



LOSS ON INVESTMENTS.



I



I^oss from change in difference be-:
tween book and market value dur-f
Ing the year |.



I



$360,029 00



INVESTMENT EXPENSES.



Investment expenses paid during the]
year I .



7,850 251.



$301, 5:e 5S



Investment losses and expenses dur-|
ing the year |.



H



Loss from investments during tbe|
year I .



367.679 25



966.00S It



T
I

MISCKLLANKOl S KXIIIBIT. i j I

I I Gain in | Loss in
I I ^Surplus. ! Surplus.
Dividends declared to stockholders! |
during the year I I ' $280.000 00

Total gains and losses in surplusl |

duriiiK the year i I

Surplus Dec. 31, 1912 1 $2,664,302 31!,

Surplus Dec. 31. 1013 j 2,503,41183.

Decrease In surplus during the year. )

Totals I



I
$15A,02S 24| $S16,09« It



160,M« 4Si.
-I-



I



$816, 0«B 72 $S16,MS Tl



Per cent of losses Incurred to premiums earned 52.92.
Per tent of underwriting expon.ses incurred to premiums* earned 41.43.
Per cent of investment expenses incurred to interest and rents earned 2.50.
Per cent of total losses and expenses Incurred and dividends declared to
total income earned 93.98l



Digitized by



GoogI(



NORTH BRITISri & MERCANTILE INS. CO. 66?



NORTH BRITISH & MERCANTILE INSURANCE
COBIPANT OF NEW TORE,



New York City.



Home Office, 76 WILLIAM STREET.

[Incorporated 181)7; commenced huslness 1807; admitted 1898.]

President, B. G. RICHARDS.

Vice Presidents, J. P. HASTINGS, W. P. YOUNG, C. R. PERKINS, W. S.
BERDAN.
Secretary, J P. HASTINGS.

CAPITAL STOCK.

Amount of cnpital paid up in cash ^200,000 00

Amount of ledger assets, December 31 of previous year ?2, 085, 175 59

INCOME.

Fire.

Gross premiums $904,151 27

Deduct reinsurance premiums, flre, $185,929.99; return
premiums, fire, |176,359.94 362,289 93

Total premiums (other tban perpetual) $541,861 34

Gross interest on bonds and dividends on stocks,
less $2,337.86 accrued interest on l^onds acquired,
during the year $S.T,S67 20

Gross interest on deposits in trust companies and
banks 716 94

Gross interest from all other sources :

General Adjustment Bureau 40 00

Philadelphia Underwriters' Association 3 15

Total gross Interest and rents 84,627 29

Gross profit on sale or maturity of ledger assets:

Bon ds , $735 06

Stocks 668 95

1,401 01

Total Income $627,892 64

Total footings $2,713,068 23



DISBURSEMENTS.

Fire.
Gross amount paid policyholders for losses (Including

$53,413.71 occurring in previous years) $315,835 18

Deduct amount received for salvage, fire, $4,162.50;

reinsurance, flre, $61,361.10 65,523 60

Net amount paid policyholders for losses $250,311 58



Digitized by



GoogI(



666. NORTH BRITISH & MERCANTILE iNS. CO.

Expenses of adjustment and settlement of losses 4.422 81

Commissions or brokerage 140, 185 23

Allowances to local agencies for miscellaneous agency expenses... 2,858 56
Salaries, fees, and all other charges of officers, directors, trustees

and home employes 18.387 40

Rents 2.48» 9S

Advertising, |10.60; printing and stationery, ?*,60«.02 4,«16 «2

Postage, telegrams, telephone and express -3,224 05

Legal expenses 376 5S

Furniture and fixtures 306 98

Maps, including corrections 586 52

Underwriters' boards and tariff associations 6.529 34

Fire department, fire patrol and salvage corps assessments, fees,

taxes and expenses 6.208 08

Inspections and surveys 879 16

State taxes on premiums 7.925 69

Insurance department licenses and fees 2,513 46

All other licenses, fees and taxes:

Federal corporation tax 11.763 70

Municipal 217 77

Paid stockholders for interest or dividends (amount declared dur-
ing the year) 20.000 00

Agents* balances charged oflf 1 .387 21

Gross decrease, hy adjustment, in book value of ledger assets:

Bonds 1188 88

Stocks 668 95

1.157 8S

Total disbursements $476,347 77

Balance $2, 236. 720 46



LEDORR ASSETS.

Book value of bonds, $1,480,809.95, and stocks, $687,0.15.78 |2, 147.825 7S

Deposits in trust companies and banks on interest 13,684 OS

Agents' balances representing business written subse-
quent to October 1, 1913 $68,440 48

Agents* balances representing business written prior
to Octolier 1, 191.1 5.012 57

73.453 C6

Other ledger assets (due from other Ins. Cos. on

losses paid $1 , 257 65

General Adjustment Bureau 400 00

Philadelphia ITnderwriters* Association 100 00

1.5T7 65

Total lodger assets $2. 2^)6. 720 46



SOS LEn<5KR ASSETS.

Interest accrued on bonds 21 .6») OO

Gross assets $2,258,350 46

DEDrCT ASSETS NOT ADMITTTD.

Agents' balances, representing business written prior

to Cktober 1, 1913 $5,012 57

Book value of ledger assets over market value 142,145 73

147,158 30

Total admitted assets $2.111. 11»2 16



Digitized by



GoogI(



NORTH BRITISU & MEKOANTILE INS. CO. 669



LIABILITIES.

GrosK losses adJuMted aud uupaid $0,014 00

Oro88 claims for losses in process of adjustment or
in suspeiisis plus $225.00; reserve for losses In-
fUrred prior to Dpcember HI of which no notice
had been received on that date 28,078 Hi

Gross claims for losses resisted 5,815 00

Total $39.907 31

Deduct reinsurance due or accrued 5, 104 00

Net amount of unpaid losses and cljilms $34,743 31

Gross premiums (loss relnsurant'e) received an<l receivable upon

all unexpired fire risks, $372,103.54 ; unearned premiums 50:<.23T 04

Halaries. rents, expenses, bills, accounts, fees, etc., due or accrued 1.2(X) 00

EHtlnmted amount hereafter payable for federal, state and other

taxes based up*m business of the j-ear of this statement 12,.j00 00

Total amount of all liabilities except capital $'>51.0S0 U5

Capital actually paid up in cash $200,000 00

Surplus over all llabilfctfes 1,359,511 21

Surplus as regards policyholders 1.550,511 21

Total liabilities $2, 111, 192 10



RISKS AND PREMIUMS.

Gross
premiums
Fire risks. thereon.

Ill force on the 31st of I>c<-ember, 1912 $154,547,518 $1,192,989 40

Written or renewed duriUK the year 119.205,755 904,1.51 27

Total $273,813,273 $2,097,140 07

Deduct those expireil and marked oflT as terminated 113,334,525 803,495 01

In force at the end of the year $100,478,748 $1,233,045 00

Deduct amount reinsured 34,287.021 201,481 52

Net amount in force $120,191,127 $972,103 54



Digitized by



GoogI(



670



NORTH BRITISH A MERCANTILE INS. CO.



RECAPITULATION OF FIRE RISKS AND PREMIUMS.



Year
wrlllPQ.



1013
1912
1013
1911
1912
1913
1910
1911.
1012
1913
1000
1910
1011
1012.
1913,



Term.



Amount
covoivd.



Gioss
pivm turns
charired.

less re-
Insuraoce.



One year or less .... | $48, 2tn) . 34C| $345 . 889 44 1-2

Two years ! 2, 64.S, »-j!)| 1,1, 702 77 1-4

Two years , 1 ,951 . im] 12, 509 34 3-4

Three years | 16.579,8451- 121,904 99 1-6

Three years | 19,849.012| 133,175 60 1-2

Three years | 18,KC».04i; 13^.469 80 5-6

Four years | 2i:i.2S«i 3.. 561 40 1-8

Four years | 476,387| 5,287 55 3-8

Four years | 635,680| 7,684 96 5-8

Four years | 6.58,9541 5,842 73 7-8

Five years | 2.008.7651 25,345 50 1-10

Five years 1 2,152.443| 25,003' 12 3-10

Five years I 3,6,':0,320 43,544 91 1-2

Five years I 3,944. 660| 43,567 83 7-10

Five years j 4,2G4,799| 43,404 16(9-10

Over five years | 33,3001 269 45| P. R.

Totals I $126,191,1271 $972,163 54



Is



Amount of
premium
unearned.



$l?2.944 72

3,925 69

9,382 00

20.317 50

06,587 80

116,224 83

440 17

1.982 83

4,808 09

5,112 30

2.534 56

7.500 94

21.772 45

30,307 48

39,068 74

242 46



$503,237 64



BUS1NK8S IN THE STATE OF WISruNSIN DURING THE YEAR.

Fire.

Gross risks written $2,562,518 00

Less $217,800 risks cancelled, and $198,425 reinsurance in companies
authorized in Wisconsin 416.225 00

Net risks written $2.146,298 00

Gross premiums on risks written $2,309,9:12 CO

Less ^89,883 return premiums: and $250,602 premiums for reiu-

surunoe in companies authorized in Wis^onHin 610.485 00

Net premiums rctM'lved $1.60t).4t7 00

Net losses paid • $' » 800 71

Net losses incurred $3.0I>7 71



Digitized by



GoogI(



NORTH BRITISH & MERCANTILE INS. CO.



671



UNDERWRITING AND INVESTMENT EXHIBIT.



UNDERWRITING EXHIBIT.
Premiums.



I



Total premiums j $541,861 34

Add unearned premiums Dec. 31, 19121 508,474 79

I-



Total 1 $1,050,336 13

Deduct unearned premiums Dec. 31,
1913 1 503,237 64



Premiums earned during 1913.



UNDERWRITING PROFIT AND
LOSS ITEMS.

Loss from agents* balances charged

oflf

Agents' balances and bills

receivable not admitted

Dec. 31, 1912 $8,201 64

Agents' balances and bills

receivable not admitted

Dec. 31, 1913 5,012 57



Gain from above.



$1,887 21



$547,098 49



.1



I
3,189 07|.



Gain from underwriting profit and|
loss items t I .



1,801 86



Underwriting income earned durlnj?!
1913 .



LOSSES.

Losses paid j $250,311 58

Deduct unpaid losses Dec. 31, 1912 | 38,926 79

Balance

Add unpaid losses Dec. 31, 1913

Losses incurred during 1913



$211, 3St 79
34.743 31



UNDERWRITING EXPENSES. |

Underwriting expenses paid during!

_1913 1 $200,909 241

Deduct underwriting expenses unpaidj I

Dec. 31, 1912 1 12,200 00



$348,900 35



$246,128 101



Balance | $188,709 241

Add underwriting expenses unpaidj |

Dec. 81. 1913 i 13.700 001



Underwriting expenses incurred dur-I
Ing 1913 f.



I



202,409 24



Underwriting losses and expenses....].
Gain from underwriting during 1913.. |.



448,537 34



_....! $100,863 01



Digitized by



GoogI(



672



NORTH BRITISH & MERCANTILE INS. CO-



UNDERWRITING AND INVESTMENT EXHIBIT— Contluued.



INVESTMENT EXHIBIT. .

Interest and Ileuts. |

I

lutereat, dlvideuds and rents received
during the year

Deduct interest, dividends and reutsj
accrue«l Dec. ai, 1012 j



Balance

Add interest, dividends and rents aic-i
crued Dec. 31 |



Total



1



^1,027 2D|.
18,271 60!.

r

21,630 001.



I



PKOEIT ON INVESTMENTS. i

Profit on investments during 1913 1.

Investment income earned during 19131.



1,404 01



:$89.389 64



I



LOSS ON INVESTMENTS.

Loss from decrease in book value ofj
ledger assets

Loss from cliange in difference be-|
twecn book and market value dur-
ing 1913

Loss on investments duirng 1013 {



INVESTMENT EXPENSES.
Investment expenses during 1913.



Investment losses and expenses dur-I
ing 1913



?1 , 157 KJ; .
I
I

76,546 52i.



.| ^7,7W 3.V.



2. 581 91



Gain from investments during 1913.



80.286 26



MISCELLANEOUS EXHIBIT.

I

Dividends declared to stockholders]

during 1913 !•



Gain in
Surplus.



Loss In
SurploH,



Total gains and losses In surplus dur-{ | |

lug 1913 f I $I0».46« 89 $t0.000 W

Surplus Dec. 31, 1912 ' $1,270,044 82 !



Surplus Dec. 31. 1913.

Increase in surplus during 1913.

Totals



1.3.19,511 21



flM,466 391 flW.4«i Si

I



Per cent of losses incurred to premiums earned, 44.90.
Per cent of underwriting expenses incurred to premiums earned. 36.90.
Per cent of investment expenses incurred to interest and rents eameil. 02.90.
Per cent of total losses and expenses incurred and dividends declared to total
income earned, 73.80.



Digitized by



GoogI(



NORTH RIVEK INS. CO. 673



NORTH BIVEB INSURANCE COMPANY,

New York City.

Home Oltirc, Ua-0.VD7 WILLIAM STIlEKT.

[Incorporatt'd February (J, 1.S22: <M»iniin»iuiM| business March C, 1822:
admitted 1898.]

President, WM. K. IirTCHlNS.

Secretary, F. H. (MtFM.

Vice Presidents, F. 11. ClUM, JOHN A. FORSTKi:.

CAPITAL STOCK.

Amount of capital paid up in «asli $Hri0.000 (K)

Amouut of ledger as.sets. l)e«*. .'U of previous year ... $2,440,424 «J

Increase of paid-up capital during? the year l.'i(),(MM) 00

3Vi .surplus paid in during year 10i:i Tn.ooo 00

Kxteuded at $-»,«71,424 62

INCOME.

Fire.

Gross premiums $:j.29.'l.470 S7

Deduct reinsurance premiums, lire, JS'MK'>.14:j.20; re-
turn premiums, lire, JS6r>7..V>7.:iI> 1 .052.700 C"*

Total premiums (other than perpetual) $1,040,770 22

Gross interest on mort^rajre loans $20,47.t WJ

Gross Interest on collateral loans 1.024 00

Gross interest on bonds and dividends on stocks, less
$6,100.21 accrued Interest on bonds actiulred dur-
ing the year 62 . 411 Or*

Gross Interest on deposits in trust ^-ompanies anil
banks 0,319 02

Total jcross interest and rents 90. 229 .12

Total income $1 ,730,999 54

T(»tal footing's $4,402,424 10

OISBI'RSEMENTS.

\ Fire.

(Jross amount paid policyholders for losses (Includ-
ing $180,408 3r» occurring in previous years) $1, .371. 9^4 .T»

Deduct amount received for salvage, fire, $20,0(53.70;
reinsurance, tire, $492,807.24: discount, fire, $1,-
724.72 rd.^, mi 00

Net amount pai<l policyholders for losses J?*CiO. 798 09

Expenses of adjustment an<l settlement of losses '. 31 ,309 .SO

Commissions or brokerage 378, 319 ft*

Salaries, $25,991.41, and expenses, $31,2.'m.40, of special and gen-
eral agents !?.••••• : ; • • ' • ^ 57.246 si

43- Ins.— I



Digitized by



GoogI(



674 NORTH RIVER INS. CO.

Salaries, fees, aud all other charges of officers, directors, trus-
tees and home office employes 135, 787 SS

Rents 15,000 00

Advertising, $2,862.14 ; printing and stationery, $10,896.73 13.758 87

Postage, telegrams, telephone and express 5.959 98

Legal expenses 1,968 27

Maps, including corrections 3, 838 71

Underwriters' boards and tariff associations 20,230 81

Fire department, fire patrol and salvage corps assessments, fees,

taxes and expenses 8,901 26

State taxes on premiums 31 , 087 39

Insurance department licenses and fees 7,494 70

All other licenses, fees and taxes :

Federal corporation tax $252 52

Municipal taxes required in various states 5,035 >^

5,288 S5
Other disbursements :

Premiums on surety bonds $322 61

Oar fares . . . ; 171 72

Ice and water 131 43

Towels and soap 2»5 60

921 36
Paid stockholders for Interest or dividends (amount declared dur-
ing the year, $35,000.00) 35, 455 00

Gross loss on sale or maturity of ledger assets :

Bonds $8,660 16

Stocks 26.012 47

34.67^ 63
Gross decrease, by adjustment, in book value of ledger assets:
Stocks 208 S4

Total disbursements $1,651,547 74

Balance $2,750,876 42



LEDGER ASSETS.

Mortgage loans on real estate, first liens $212,100 00

Loans secured by pledge of bonds, stocks or other
collateral .<. 8,690 00

Book value of bonds, $026,300.37, and stocks, $1,197.-

73 1,823.575 10

Deposits in trust companies and "banks on interest.. 392,120 75

Agents' balances representing business written sub-
sequent to October 1, 1913 314,390 57

Total ledger assets $2,750,876 42

NON-LEDGER ASSETS.

Interest accrued on mortgages $3 ,393 12

Interest accrued on bonds 9, 660 81

Interest accrued on' collateral loans 115 86

Interest on cash payment of $2,000.00, first Install-
ment on 80 shares Delaware & Lackawanna & Wes-
tern R. R. Co 60 39

Total 13, 230 IS

Gross assets ....,,.,.., ,f^<*> $2,764,106 60



DEDUCT ASSETS NOT ADMITTED.

Book value of ledger assets over market value , , , M. 908 45

TotiU admitted ametf «t,M....Miii,tMMt*<TMMi 12.788. 106 u



Digitized by LjOOQIC



NORTH RIVER INS. CO. 675



.LIABILITIES.

Gross losses adjusted and not yet due $39,964 50

Gross claims for losses in process of adjustment or
in suspense, plus $20,000.00: reserve for losses in-
curred prior to December 31 of which notice had
been received on that date 223. 477 41

Gross claims for losses resisted - 35,588 00

Total $299,030 00

Deduct reinsurance due or accrued 127,243 81

Net amount of unpaid losses and claims $171,786 19

Gross premiums (less relnsurauee) (cash bills) received and receiv-
able upon all unexpired lire risks, Jt?2,746,776.43 unearned pre-
miums 1,424,661 36

Dividends declared and unpaid to stockholders 2, 152 75

Salaries, rents, expenses, bills, accounts, fees, etc., due or accrued 2,000 00
Estimated amount hereafter payable for federnl, state and other

taxes based upon business of the year of this statement 2."3,,000 00

Total amount of all liabil tics except capital ,. $1,625,600 29

Capital actually paid up in cash $500,000 00

Surplus over all liabilities 607,507 86

Surplus as regards policyholders 1,107,507 86

Total llabilitlos $2,733,108 15



RISKS AND PREMIUMS.

Gross
premiums
Fire risks, thereon.

In force December 31, 1912 $375,199,845 $3,956,823 36

Written or renewed in 1913 334,328.586 3,293,470 87

Excess of original premiums over amount received
for reinsurance 175.589 05

Totals $709.528.4,'J1 $7,425,883 28

Deduct expirations and cancellations 313.210,779 3,345,751 30

In force December :U, 1913 *::i96,;J17.(«>2 ?4,0S0,13l »S

Deduct amount reinsured 129.509.253 1,333,355 55

Net amount in force $266.Sas..H30 .$2,746,776 43



Digitized by



GoogI(



676



NOKTIl RIVER INS. CO.



RKOAPITULATION OF FlUE RISKS AND PREMIIMS.



Year

written.



Term.



Amount
covered.



(iross
premiums
chanced,
less re-
insurance.



«1



Amount of
premium
unearned.



1913 1 One year or less [ $101 . 8S4 . 2*-'.ii ?1 ,

1912 1 Two years | 5r»2,5r»S|

1913 1 Two years I f*J8.007j

1911 1 Three years | 38,507.9071

1912 i Tliree years I 44,«S2.214|

1913 1 Three yeirs I 53,385.5841

1910 1 Four years | 129,871|

1911 1 Four ye>irK I 1S4.9C0

1912 Four years ! 200,2001

1913 1 Four years I 200,;r73|

1009 1 Five years , 3,t>81,077|

1910 1 Five years | 4,290,140

1911 1 Five y>?ars | 5,139,3071

1912 1 Five years | 4.419. 7S0|

1913 1 Five years i 7.077.004;

I Over five years 24,400|



1

114,023 311

5,708 27|

8,,%S1 52|

.•{80.590 771

418,701 871

474,707 871

1,258 ;17

2.45.3 87|

2,. 559 45

2,424 23

52.330 08

.50.700 85

00,:iSO 231

04,977 20|

95,003 89|

322 05|



12
1-4
.3-4
1-0
1-2
W5

'i: â– 

3-8 !
5-8 ,
7-^ I
1-10 i

:j-io I

1-2 I
7-10
9-10
P. II.



$5.57,011 06

1.442 07

0,280 14

03.4.32 79

209.350 94

395,039 89

1.57 29

920 20

1.599 06

2.121 20

5.23:; 00

17,0:J0 05

33,190 12

45,4H4 04

85.557 50

204 SO



Totals ! $260,808,3991 $2,740,770 43i , $1,424,661 35

I I 'I



BUSINESS IN THE STATE OF WISCONSIN DIKINO THE YEAR.



I



Fire.



Tornado.



ToUl.



Gross risks written | $4,208,010 00! $190,108 00 $4. .398, 718 OO

Leas $1,047,197 risks i-ancelled, and" I !

$556,103 reinsurance companies au-i

thbr!zed In Wisconsin 'â–  1..5.X3,2fl7 00) 70.033 00 1.008,300 00

Net risks written |* $2,075,343 00| S120.075 OO; $2,795,418 00



dross nremiuuis on risks wr'tten ....I
Less $8,800.34 return premiums: and
$5,810.97 premiums for reinsurance
in companies authorised in Wiscon-
sin



=1=



^: 49, 124 95| $1,701 78| $50,823 73



14,671 31



Net premiums received



Losses paid (deducting salvage) |

Less losses on risks reinsured in eomj
panies authorised in Wisconsin...



Net losses paid




Losses incurred $21 . 18.3 00|

Less losses on risks reinsured in com-1 I

panies authorized in Wisconsin 1 5,8.51 .501






$13,802 94

$2~ooi $2i.iSr66

2 00' 5.85.3 56



Net losses Incurred



$15,, 331 441.



$15,331 44



Digitized by



GoogI(



KORTH RIVER INS. CO.



677



UNDEUWRITINO AND INVESTMENT EXHIBIT.



TNDERWRITING EXHIBIT.
I*reininm»<.



Total pi^ihiuras ; $1,040,770 22

Add unearned premiums Dec. "^1, of|
previous year | 1,417,404 3'



Total I :$3, 058,174 51

Deduct unearned premiumH Dec. 31, j
end of the year | 1,424,66135



year



Premiums earned during the|



$1,633,513 24



LOSSES.



I



LosRes paid ,

Deduct unpaid losses December 31 of
previous year j

Balance |

Add unpaid losses December 31, end

of the year I

I-
Losses incurred during the "year



I

I

$856,708 691 .

128,188 181
$728,609 5l'

171,786 19|



UNDERWRITING EXPENSES.

Underwriting expenses paid during
the year •

Deduct underwriting expenses unpaid
December 31 df previous year



Balance

Add underwriting expenses unpaid
during the year



$900,395 70



$722,029 99
27,000 00



$H95,020 99
27,000 00



Underwriting losses and expenses j.

Gain from underwriting during the|
year



722,029 99






1.622.425 69



$11,087 65



INVESTMENT EXHIBIT. I

Interest and Rents. ;

I

Interest, d'vldends and rents received]

during the year [

Deduct Interest, dividends and rentsj
due and accrued December 31, endj

of the year I

]_

Balance [

Add Interest, dividends and rents due)
and accrued Dec. 31, end of year ..I
Total I.



i



$00,229 32i.

13,398 99|.

1

$76,830 3:1!.



13,230 181 .
1.



$90,160 01



Digitized by



GoogI(



678



KORTH RIVER INS. CO.



UNDfiRWRtTtNG AND INVESTMENT EXHIBir-Continued.



LOSS ON INVESTMENTS. i

I

LoRH from sale of li»dtfer nssets |

Loss from decrease iu book value ofj

ledger assets |

Loss from change in difference be |
tween book and market value dur-|
ing the year ^ i

Loss on Investments during the yeari.



INVESTMENT EXPENSES. !

Investment expenses paid during the|
year i .



Investment losses and expenses dur-
ing the year 1



203 34




1






48,12C 70







Gain from Investments during thei
year 1.



$"^3,002 67'



2.388 Od.



I



85.C90 76



$4,669 78



MISCELLANEOUS EXHIBIT. i

I

Dividends declared to stockholders!

during the year I .

Surplus paid in during the year |.



Net gain from above



Total gains and losses in surplus dur-|

lug the year I

Surplus Dec. 31, 1912 |

Surplus Dec. 31, 1913 1



Increase in surplus during the year.
Totals



Gain in
Surplus.



$551.7r)0 .56'.
607,5(y7 86 .



I Loss in
I Surplus.

$35,000 00



1 $75,000 00

J





$40,000 00









$56,757 80i.



$55,757 80



$5f 757 SO



$55,757 to



Per cent of losses incurred to premiums earned, 55.1.
Per cent of underwriting expenses incurred to premiums earned, 44.2.
Per cent of investment expenses incurred to interest and rents earned. 02.6.
Per cent of total losses and expenses incurred and dividends declared to total
Income earned, 101.1.



Digitized by



GoogI(



kORtdERN INS. CO. 67d



NORTHERN INSURANCE COBIPANY,

New York City.

[Incorporated October 22, 1897. Commenced business October 26, 1897.]

Home oflBce, 1 LIBERTY STREET.

Date of admission into Wisconsin December 9, 1898.

President, WILLIAM MASON. Secretary, JAMBS MARSHALL.

CAPITAL STOCK.
Amount of capital paid up In cash |800,000 00



Amount of ledger assets December 31 of previous year $1,314,182 CS