Report online

Salaries, fc?es, and all other charges of officers, directors, trus-
tees and home office employes 12.252 00

Rents 3 3W 76

Advertislnsr, $1,121.62; printing and stationery, $2,035.92 3,157 54

Postage, telegrams, telephone and express 2. 196 75

Legal expenses v. 182 97

Furniture and fixtures , 671 50

Maps, including Currectlons .* 904 95

Underwriters' boards and tariff associations 2, 143 89

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

taxes and expenses 1.221 17

Inspections and surveys 464 65

Repairs and expenses (other than taxes) on real estate 856 75

Taxes on real estate I.IM 65

State taxes on premiums 2, 462 59

Insurance department licensen and fees 1.80J 65

All other licenses, fees and taxes:

State tax on capital stock $1,003 37

F're marshal tax 280 88

City tax on premiums 172 23

1,456 48

Other disbursements: General expenses 1,387 87

Paid stockholders for interest or dividends 32,000 00

Total disbursements $261 .845 96



Balance $502, 468 17



LEDGKR ASSETS.

Book value of real estate $77,807 80

Mortgage loans on real estate, first liens 348,210 00

Loans secured by pledge of bonds, st)cks or other
collateral' 2,275 00

Book value of stocks 6,671 57

Cash in company's office $2,237 015

Deposits in trust companies and banks

on interest, daily bank balances 21,400 22

23,647 IS

Agents' balances representing business written sub-
sequent to October 1, 1913 35,054 59

Agents' balances representing business written prior
to October 1, 1913 5,456 67

Other ledger assets:
Cash deposit Philadelphia Underwriters Associa-
tion 100 00

Office furnish'ng and supplies 3,245 36

Total ledger assets $502,468 17



NONLEDGEU ASSETS.

Interest due, $3,651 and accrued, $5,057.11 on mort-
gages $8,708 11

Interest accrued on collateral loans 1198

Rents due on company's property or lease 230 00

Total S.050 09

Market value of real estate over book value 14 . 322 23

Gross assets , . , , .* . $.i2.j . 740 4Q



Digitized by



GoogI(



HTTSBURGH FIRE INS. CO.



729



DEDUCT ASSETS NOT ADMITTED.

Supplies, printed matter and stationery, furniture,
fixtures and safes ?3,245 38

Agents' balances, representing business written
prior to October 1, 1913 5,456 67

Book value of ledger assets over market value:
Stocks , 1.48157

10,183 60

Total admitted assets $516,556 89



LIABILITIES.

Gross claims for losses In process of adjustment

or in suspense $15,395 57

Deduct reinsurance due or accrued 620 89

Net amount of unpaid losses and claims $14 , 775 18

Gross premiums (less reinsurance) received and receivable upon
all unexpired Are risks, $339,962.76; unearned premiums ' 176,098 09

Salaries, rents, expenses, bills, accounts, fees, etc., due or ac-
crued ._. . 107 50

Estimated amount hereafter payable for federal, state and otner
taxes based upon business of the year of this statement 5,100 62

Comm salons, contingent or other charges due or accrued 385 44

Total liabilities except capital $196,466 83

Capital actually paid up in cash $200,000 00

Surplus over all liablllUes 119,090 06

Surplus a3 regards policyholders 319,090 00

Total liabilities $515,556 89



RISKS AND PREMIUMS.



Gross
premiums
Fire risks. thereon.

In force on the 31st day of December, 1912 $36,528,302 $391,803 83

Written or renewed dVirtng the year 25.136,537 273,189 51

Total $61,664,839 $664, 993 34

Deduct those expired and marked off as terminated 25,039,184 291.148 02

In force at the end of the year $36,625,655 $373,845 32

Deduct amount reinsured 3.400,688 33.882 56

Net amount in force $33,224,967 $339,962 76



Digitized by



GoogI(



730



prrrsBtmoH rmfi ms. co.



UKCAPlTrLATlON OP FIRK RISKS AND PUEMll-MS.



Year
written.



TerjQ.



1015.
1912.
1J)13.
1911.
1912.
1913.
1911.
1912.
1913.
1909.
1910.
1911.
1912.
19in.



.j One year or les8....|

.! Two years

.( Two years |

. Three years i

.| Three years

.| Three years |

.! Four years |

f'pur years |

Pour years i

Five years

Five years

Five years

Five years

Five years



I



Totals



Amount
coverefl.



Gross
premiums
charired.
less re-
insurance.



$12,037,9201

275,6451

275,40«|

4. 779, 080 [

r>, 828, 9571

5,873.3051

49,084;

100,1481

92.7331

292,211

304.600

795,003

l,(»01.e68|

8.58,6251



II



Amount of

l)n»mlum

unedmt*d.



I



$144,541 491

2,626 721

3,257 37|

41,109 541

54.709 10

44,369 73

836 86

1,035 49

1,022 59

4.072 57

6,504 81

10.720 89

13,336 89

11,819 10



$33,224,9671 $339,962 76



1-2

1-4

3-4

1-6

1-2

5-6

3-8

5-8

7-8

1-10

3-10

1-2

7-10

9-10



$72,270 55

056 68

2,443 02

6,S'»1 53

27,3M 55

.36.974 75

313 (3

647 20

894 74

407 25

1,951 44

5.360 44

9,335 82

10,636 29



$176,098 09



BISINESS IN THE STATE OF WISCONSIN DURING THE YEAR.

Fire.

CJross risks written $828,491 97

Less $134,479.(r> risks enncelled, inul *01,(i99.(I0 reinsurunee in coui-

pnuies authorized in Wisconsin 196. 149 31

Net risks written $632,342 60

Gross premiums on risks written $9,302 27

Less $1,072.89 return premiums; and ^'.770.59 premiums for reinsnr-

aute in companies authorized in Wision.sin I,fv43 48

Net premiums received ?7.4o8 79

Lasses paid (deductlup salvage) $3. 140 41

Less losses on risks reinsured in companies authorized in Wiscon-
sin .14 S5

Net losses paid $3 . 10i5 56

Losses incurred , $2.868 74

Less losseft on risks reinsured in companies authorized in Wiscon-
sin 34 8,1

Net losses incurred $2,833 89



Digitized by



GoogI(



t>iTiSBtmoH Fiftfi md. co.



731



t/NDKRWRlTINO AND INVESTMENT EXHIBIT.



UNDERWRITING EXHIBIT.
Premiums.



I



Total premiums ) ^193,438 8U|

Add unearned premiums Dec. 31 of| |

previous year i 193.581321



Total I ^387,020 21].

I>eduet unearned premiums Dec. 31, |

end of the year I 176.098 09'.



Premiums earned during the year..i |;210,022 12



I



UNDERWRITING PROFIT AND i
LOSS ITEMS. I



Agents' balances and bills

receivable not admitted

Dec. 31, 1912 ^,995 99

Agents* balances and bills

receivable not admitted

Dec. 31, end of the year.. 5.456 67



Loss from above



460 as



I'nderwrltlng income earned during|
the year



LOSSES.



Losses paid

Deduct unpaid losses December 31 of
previous sear



Balance

Add unpaid losses December 31, end
of the year



Losses Incurred during the year.



UNDERWRITING EXPENSES.



$124,582 S3
24.364 68

1100,217 65
14,775 IS



Underwriting expenses paid durlngi
the year I

Deduct underwriting expenses unpaid!
December 31, of previous year



1114,992 83



I-



$102,667 69
6 65r, 281



Balance ' $J6,012 41

Add underwriting expenses unpaid
December 31, end of the year i



year

Underwriting expenses Incurred dur-|
Ing the year I



5.593 5ti



$210,461 44



101. GOO 97'.



Underwriting losses and expenses...!.

Loss from nnderwritlng during the)
year I .



216.51)8 M)



I »CA.137 86



Digitized by



GoogI(



732



PITTSBURGH FIRE iNS. CO.



UNDERWRITING AND INVESTMENT EXHIBIT— Continued.



INVESTMENT EXHIBIT.

Interest and Rents. i

Interest, dividends and rents received,
during the year

Deduct Interest, dividends and rental
due and accrued December 31, endj
of the year ^ t

Balance |

Add Interest, dividends and rents duel
and accrued December "31, end of;
the year |



J



$25,079 84
7,788 95



$18,190 89
8,950 09



Total



PROFIT ON INVESTMENTS.



I



?27.140 98



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

Profit on investments during the year



LOSS ON INVESTMENTS.

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



G,407 48i.



INVESTMENT EXPENSES.

Investment expenses paid during the]
year



Investment losses and oxponsos dur
lug the year



Gain from investments during th<
year



MISCELLANEOTS EXHiniT.

Dividends declared to stofkholders
during the year I



Total gains and losses in surplus dur

ing the year ,

Surplus Dec. 31, 1912

Surplus Dec. 31. 1913



Decrease In surplus during the year.



Totals




Per cent of losses Incurred to premiums eanied, 54.52.
Per cent of underwriting expenses Incurred to premiums earned, 48.13.
Per cent of investment^ expenses incurred to Interest and rents earned, 9.56.
Per cent of total losses and expenses incurred and dividends declared to total
income earned, 103.43.



Digitized by



GoogI(



PROVIDENCE WASHINGTON INS. CO. 733

PROVIDENCE WAHSINOTON INSURANCE COMPANY,

Providence, R. I.

[Incorporntod 1700. Coinmeuccd biiHinoss J 71)941

Tloine oflUo. liO MABKKT SQl'AUE.

President, J. B. IIRANCII. Vice President, C. D. DUNLOP.

Secretary, A. G. BEAI.S.

(WPITAL STOCK

Amount of capital pnld up In casli $1 ,000.0(K) 00

Aniouat of IfHl^er nnscts DeooiulM'r ;*.l <»f provloun year.,,,.,., :^u, 080,504 4U

INCOMR

Firo Marine & Inland

Orogg prpinlum« ?3, 882, 890 60 ?l, 032, 883 84

Dedn<»t r*»ln«urnnce prpminm^, flre,
«8eT.44a.T2: marin© nnd In-
land. $9f^l,029.30 : wtura pre-
miumi. fire. in0T.0ft8.TT: ma-
rine and Inland. «186,070 47.. 1.404,407 40 747.605 86



$3,603,671 00



Total preroiumji (oth^r
than perpetual) $2,418,303 11 $1,185,277 98

Oro88 JnterpBt nn bondu nnd divldendfl nn f«tock«.
IcM «1. 735.75 n'»cr»ied interest on bonds ac-
quired durinjf the year $173,648 14

OroM Interest on depositfl in trust companies

and banks 7. 812 47

Gross interest from all other sources : Marine
preraiums J 00 60

Tntni eroftft in^f'r«»«sf nnd rents 181 f^fti 21

P»'oflf nnt' loss. 9t^ok dlvid*.n'l. {ronAr«l F1oetf|<» Cf^ 18 OAO 00

Orrms nreflt on .«»fl1e or mefnrltv of Ifvl^or >i<f«»et« : PfArV^ 0.800 00

Gr^«** increase, by nnjuslnient. in book value of led(r*»r nsSots '.

Pond«5 $0. 1 •>? ?ft

Stocks 4.S2 00

559 2.'»

Total liifroine $;l. 822 501 rn



Total footlnp? $7,,'»00. IJ^O 1

DISBURSEMENTS.

Fire Mo -*»»♦> p»id

inland
GroR<i p mount nn|rl noUoriio'«iprs for
lnq«ip« ntinlnrltnir .•S'^l W2 .'Vi ocour-

Hmp- In nrevfous voqr«^ $1,863,845 96 $1,007,213 19

J>r.#in#'.f o»»»/>Mnf- f(^ootve*4\ for ji«»lv«irA,
f%mn .^1OQ?9 0i* mnrlnp jind lulnn,],
.^lOOstTioi; rafn«n**«n'>A fl».o «U^ -

rH^ooM^f fl^o. $n8.as: marine and In-
land. ?».50.45 4fi?> 804 n2 4^2 . 084 14



$1 307 081 44 $664,229 05

Npt nmount n*iid oollovboldprs for losses $2.0«'> 9^0 40

FxpenspR of adiustmpnt Pud settlement of losses ^^ W>o .^n

f?omm*ss1on<i or brokeraire 715.072 03

Salaries. $02,158.68, and expenses, $29,954.81, of special and general

agents 122,

Digitized by



KSSogI(



734 PROVIDENCE WASHINGTON INS. CO.

Salaries, fees, and all other charges of oflacers, directors, trus-
tees and home office employes 136, 1S2 69

Rents ;. 14.754 6»

Advertising, $3,17ai3; printing and stationery, $31,408.15 34,586 28

Postage, telegrams, telephone and express 22,061 77

Legal expenses 157 73

Furnltnrc and fixtures 544 37

Maps, Includ'ng corrections 6.902 14

rnderwrltors' boards and tariff assocl.itlons 33,890 54

Fire department, fire patrol and salvage corps assessments, fe^,

taxes and expenses 39,42123

Inspections and 8ur\'ey.s 15,609 00

State taxes on premiums * 68,115 83

Insurance department licenses and fees 13,639 12

All other lIceiiseH, fees and taxes:

Federal corporation tax $1,468 24

(^ounty licenses and taxes 240 51

City licenses and taxes 8.627 12

Franchise 650 00

10,985 87

Other disbursements:

Exchange $1,723 23

Subscriptions to various publications 674 27

Premiums on guaranty bonds 797 85

Entertainment 083 93

3,879 28

Paid stockholders for Interest or dividends 100,000 00

Gross decrease, by adjustment. In took value of ledger assets:

Bonds $3,378 75

Stocks 43.270 63

46,049 38

Total disbursements $3,461,436 78

Balance $4,047,719 26



LEDGER ASSETS.

Book value of bonds. $l,57o,0(X) and stocks, S1.:U5.9.T0 $2,920,950 00

Cash In comnany*s offl<*e ^1,918 H2

Deposits in trust companies and banks

not on interest 16,600 43

Deposits in trust companies and banks

on Interest 452.341 92



470,951 17
Agents' balances represent'ng business written sub-
sequent to October 1. 1913 628,996 65

Agents' balances renresentiug business written prior

to October 1, 1913 225 13

Bills receivable, taken for marine and inland risks 26,526 31

Bills receivable, taken for fire risks 70 00



Total ledger assets ?l .047, T19 28

NON LEDGER ASSETS.

Interest accrued oii I onds 13.055 96

Market value of bonds and stocks over book value 868, 352 00



Gross assets $4,929, 127 22

DEDrCT ASSETS NOT ADMITTED.

Agents' balances, representing business written prior

to October 1, 1913 $225 13

Bills receivable, past due, taken for marine, inland
and fire risks . , . , , ...,.,.,.,.....,...... 820 75

m>* â– !â–  n il ] â–  1^

1.045 88



Total namUt^d ttMatg ,, ,,«. ,,, >>MtM.i.. li.MB.08i h

Digitized by LjOOQIC



PROVIDENCE WASHINGTON INS. CO. 735



LIABILITIES.

Gross losses Adjusted and unpaid $82,406 63

Gross claims for losses in process of ndjustment; or
In suspense, plus $,30,000; resi»rvo for losses lu-
ctirred prior to December ."^l of which no notice

had been received on that dnte 501,7ft9 26

Gross claims for losses resisted 26, 247 91



Total $610,453 SO

Deduct reinsurance due or accrued 209,203 30



Net amount of unpaid losses and claims $101.250 50

Gross premhims (less reinsuran'^-e) received and re-
ceivable upon all unexpired Are risks, $1,038,546
unearned premiums $2,119,98175

Gross nremlurns (le«<s rcin»«urnn('c) <cn'^A\ and bM's^
reeceived and recelv^^h'e nnon all unexnlred In'and
nnvlpation risks. ?49H.490.()S ; unearned premiums
(50 per cent) 219. 245 04

Gross nremiums (Toss '*oinsurancp) (cnsb n"d MnM>
received nnd receivable upon nil unexnired marine
risks. $162,097; unearned premiums (50 per cent)
on time risks 81 ..387 25



Total unearned premiums as computed above 2.4.'»0.614 04

Salaries, rents, expenses, bills, accounts, fees, etc., due or ac-
crued 5.000 00

Estimated a'^iount hereafter p'«ynble for f«»d»»-al. stnte and other

taxes based upon business of the vejir of this st-^temeut .''•'> ono on

Commissions, contingent or other charjres due or accrued 10.000 00

Total amount of all liabilities except capital .S2. 918. 864 54

Capital actually paid uo in cash $I.OOO.ooono

Surplus over all liabilities 1 .009.216 SO



Surplus as regards policyholders 2 0r9.216 80

Total rabilitles .Sl.9:>s.0Sl 34

KISKS AND PREMU'MS.



Fire risks. . pr*»mhin^s
thereon.



and fnlfind ' r»»'«»ml"ms
risks I thereon.



I I ' I

In force December 31.1 ' ' '

10^" ' .^-472.852.7931 $ I..S06..389 44' ?22. 155. J91I |*.6')4.229 20

Written or renewed I I ! '

diiHnc the voor I .379.128.72'*' 3.8.S2.890 O'^' .^31, 339.. 5771 1.932,883 84

ExcA«R of orit'Inal ore-' ' ' '

TT»<nTrm ovor amount' ' ' '

received for relnsur-' ' ' '

ance ' I 3S5 02' '

I-



Totnl .^ I $851,981,5221 .$8,089,635 061 $.3,53.494.771' $2. f*:.7. 113 04

Deduct th'^se exnlred' ' '

nnd marked off as' ' ' '

terminated ' 338.662909! 8.517.553 12| .325.129.775' 1. 7*^*. 5,34 81

In force at tbo( i i i

end of vear, 19l.3t $513,318,013 $5,172,111 94' $28,301,996' .«:«=:42.578 20

Peduot amount reln-l I ' '

flured • 104.620.6731 1.^3.565 94' 5 696.6.30' 181.99112

I f f ! _

ypf. amAunt In for<v»| i i (
Dwember 31, 1018' $408,697,940' $4,a38.346 00' $22,668.36<^' $rt60.r^7 08
I I i '



Digitized by



GoogI(



736



PROVIDENCE WASHINGTON INS. CO.



RECAPITULATION OF FIRE RISKS AND PREMIUMS.



Year
written.



Term.



Amount

Ct) VIM I'd.



Gross
prpmiums
('liar^ed,
It-ss re-
insurance.



=



Amount of

i)r<*miuiii

unearned.



1913...
3912...
1913...
1911...
1913. . .
J9l3...
IplO...
1911..;
1913...
1913...
1909...
1910. . .
1911 . . .
1912..,



One year or Jess.
Two years .,.,.,

TwQ ycQrs

Three years

Three years ....

Three years

Pour years

Four years

Pour years

Four years

Five years

Five yearji

Five years

Five years

Five years

Over five years , , ,



• I



1140, S72

2,910

2,928,

48,24."j

r»C.047,

67,332

375,

493.

502,

7C«.

11,784,

13,880

15,270.

18,498.

19.631,

149,



709 ?1,

310

4191

0541

7341

249)

7891

8031

374)

0011

2771

899|

3021

1941

UflOi

,8541



547,031 411

12,204 65|

18,836 221

451,050 42

519,014 36

621.137 06

4.032 161

4,745 051

5,588 711

6 299 .''.71

126,097 851

153,184 07

166.283 04f

199,017 381

208,964 58(

1,590 471



1-2

1-4

3-4

1-6

1-2

5-6

1-8

»-8

6^

IS

1-10

3-10

1-2

T-10

9-10

P. R.



Totals 1408,697.9401 $4,038,946 00



1773,

3,

10,

75,

259,

W7,

1,
3.
5

12,

45.

88,

189.

i>S,

1.



515 70
051 16
003 17
175 07
507 18
614 22
504 02
770 39
482 95
512 11^
609 79
655 22
141 53
812 17
068 12
049 fO



92.110.961 T8



BUSINESS IN THE STATE OF WISCONSIN DURING THB YEAR.



Flpe.



Marine and ., .
inland. Tornado.



Gross risks written f |7. 938, 302'

Less $1,696,220 risks cancelled,
and 1774,545 reinsurance in
companies authorized in Wis-
consin



$2,653,2281 $418,579^ $10,610,103



Net risks written

Gross premiums on risks writ-
ten

Less $11,242.64 return pre-
miums; and $1,248.78 pre-
miums for reinsurance in
companies authorized in Wis-
consin



1,797,574



678.191



1=



$5,740,728



rl=



$1,980,037



2,470.765



$418.5751 $8,139,340



Net premiums received . .

Losses paid (deducting sal-
vage)

Less losses on risks reinsured
in companies authorized in
Wisconsin



$84,929 861 $6,159 15



I

I

11,449 98i 1,011 44



$73,479 88



$34,839 26
52 41(



$5,117 71



$3,164 981 $94,253 99



$3,164 98



$3,447 55 $474 18



Net losses paid I $34,806 85

Losses Incurred I $33,538 66

Less losses on risks reinsured!



in companies authorized in I
Wisconsin I



8 33



Net losses Incurred I $33,530 33



3.447 55

$780 55



$474 18



$780 55



$437 88



$437 88



12.491 42



$81,762 57



$38,780 99
62 41



$38.728 58



$34,757 09



8 3S



I



$84,748 76



Digitized by



GoogI(



PROVIDENCE WASHINGTON INS. CO.



737



UNOEBWRITJNG AND INVESTMENT EXHIBIT.



UNDERWRITING EXHIBIT.
Premiums.



f



Total premiums I $3,603,071 09'

Add nnearned premiums Dec. 81 ofl '

previouB jear ' 2,. 302, 819 37

f I



Total I $5,900,490 401

Deduct uneartie<1 premiums Dec. 31.1
end of the year I 2.450.614 W"



Premiums earned duriufr the year



.1.



UNDERWRITING PROFIT AND '

LOSS ITEMS. !

I

.4ireuts* Itn lancet and blll«< '

receivable not admitted I

Dec. 31. 1912 $010 75'.

Afrent^* balaoces and bill" '

receivable not admitted !

Dec. 31, end of the year 1.045 881.



Loss from above '

Underwriting: income earned durinfrl



the year



LOSSES.



Losses paid ' $2,002,210 49"

Defluct unpaid lo.sses Dec. 31 of pre-' I

vious year f 367.023 451



Balance I $1,605. 187 04"

Add unpaid losses Dec. 31, end of thel
year ' 401.250 501



I-



Losses Incurred during the year ..
UNDERWRITING EXPENSES.



I



UnderwrltinfiT expenses paid during!

tbe year ? I $1,249,087 931

Deduct underwriting expenses unpaid! I

Dec. 31 of previous year ' 57. 000 00'



Balance I $1,192,087 93]

Add underwriting expenses unpaid'
Dec. 81. end of the year ' 67.000 00'

Underwriting expenses incurred dur-I
Ing the year '



Underwriting losses and expenses — K

Gain from underwriting during thel
year '.



INVESTMENT EXHIBIT. f

I

Interest and Rents. (

!

Interest, dividends and rents received'

during the year I $181.56121

Deduct interest, dividends and rental
due and accrued Dec. 31, end of thel
year ' 30,834 16'



Balance ' $150.727 651

Add interest dlv'dend« and rent** duel
and accrued Dec. 31, end of thet
year ' 18.056 961



$3,455,876 421



4.^^^ 131



$2,000,437 54



1.269.087 931



$3,455,441 29



3.355.525 47



IM.eiS 88



Totnl



I M • M r * r I ••.•.*.• f .•.•.•::-•'• I



47~Ilis.-I



$163,783 01!

Digitized by LjOOQIC



738



PROVIDENCE WASHINGTON INS. CO.



UNDERWRITING AND INVESTMENT EXHIBIT— Continued.



PROFIT ON INVESTMENTS.

Gain from sale of ledger ansets ...
Gain from incrense in book value of|

ledger assets

Gain from other investments: Profltl

and loss I

Profit on investments during the year
Investment income earned during the



year



LOSS ON INVESTMENTS.

Loss from decrease in book value of^
ledger assets

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

Loss on investments during the year



INVESTMENT EXPENSES.

Investment expenses paid during the
year



Investment losses and expenses dnr
ing the year



Loss from
year



investments during the




MISCELLANEOUS EXHIBIT. | ) |

I Gain in I Loss in
I I Surplus. ! Surplus.
Dividends declared to stockhiildersj | I

during the year I ' ! $100.000 00



I
Total gains and losses in surplus) ** |

during the year 1 |

Surplus Dec. 31, 1012 1 $l,049.n.'>8 581.

Surplus Dec. 31, 1913 t 1,009.210 801.

Decrease in surplus during the year' I

. Totals ' i



I
$80,916 821 $139, 7S7 60

I

I



I
39,841 78'.



$139,757 601 - $139,757 60



I



Per cent of Ioskgs Incurred to premiums en mod G0.60.
Per cent of underwriting expenses incurred to premiums earned 36.14.
Per cent of Investmeut expenses incurred to iuterest and routs t»anied 2,1.'^.
Per cent of total losses and expenses ln«urred and dividends declared to
total Income earned 95.40.



Digitized by



GoogI(



QUEEN INS. CO. OF AMKWOA. 739



QUEEN INSURANCE COMPANY OF AMERICA,

New York City.

Home office, 84 WILLIAM STREET.

[Incorporated Sept. 11, 1S91. CoiuDieuced business Sept. 11, 1801.]

President, EDWARD P. BEDDALL. Vice President. GEORGE W. BURCHELL.
Secretary, NEVETT S. BARTOW.

CAPITAL STOCK.
Amount of capital paid up in cash $1,000,000 00



Amount of ledger assets December 31 of previous year $10,060,857 96

INCOME.

Marine
Fire. and inland.

Gross premiums $6,125,214 65 $800,846 12

Deduct reinsurance premiums. Are,
$830,234.62; marine and Inland. $67.-
.^2.64; return premiums, Are, $013.-
658.03; marine and inland, $1.55,075.07 1.743,892 65 222,417 71



Total premiums (other than

perpetual) $4,381,322 00 $587,428 41

$4,968,750 41

Gross Interest on mortjfage loans $2,950 00

Gross interest on bonds and dividends on stocks,
less $2,172.21 accrued interest on bonds acquired

during the year 364,297 98

Gross Interest on deposits in trust companies and

banks 8.174 96

Gross Interest from all other sources: Bills receiv-
able, etc 15 91



Total gross Interest and rents 375,438 85

From agents* bnlauces previously charged off 2 08

Gross profit on sale or maturity of ledger assets:

Bonds $609 .37

Stocks (MO 00



1,249 37



Total income $5,345,440 71



Total footings $15,431,298 67

DISBURSEMENTS.

Marine
Fire. and inland.
Gross amount paid policyholders for
losses (Including $370,000.32 occurring

in previous years) $2,780,304 28 $317,512 63

Deduct amount received for salvage,
fire, $26.060.11 : marine nnd Inland,
$13,000.54; re!nsurun«e. Are, .$.'572.-
7.33.38; marine and Inland, $27,228.62;
discount. Are, ?4r>:{.S2 390. 267 .31 40, 229 16



Net amount paid policyholders

for losses $2,381.036 97 $272.283 47

$2,a"»K..320 44

Expenses of adjustment and settlement of losses 70,026 76

Commissions or brokerage 939,971 84

Allowances to local agencies for miscellaneous agency expenses.. 14,379 95

Salaries, $107,764.48, and expenses, $70,402.88, of special and genehi)
BgentB ,* ./ • * * • 178,167 36

^^ uiyiLizuu uy 'n^j^^^'v.



S^^



740 QUEEN INS. CO. OF AMERICA.

Salnrles, fees, and all other charges of officers, directors, trus- k,k *v»

tees and home office employes *!i'xI5 ?5

Xients 43,268 06

Avertlslnp, $20,545.05; printing and stationery, $47,172.37 SI'Il? 2?

Postage, telegrams, telephone and express i 4fn nft

Legal expenses 1' oJS ^

Furnltnre and fixtnres i?'{Sj si

Maps, including corrections iX'ooQ ^t

T'nderwriters* boards and tarlflf associations • • • • • OU, J - » lo

Fire department. Are patrol and salvage corps assessments, fees, on 14S nt