4   BEST'S INSURANCE REPORTS -FIRE AND MARINE.

_ETNA INSURANCE COMPANY—Continued.

Directors.—   Deposit premiums returned    8, 139 73

Bulkeley, Morgan G., president "Etna Life Insurance Other disbursements    96,8'23 74

Company.

Clark, William B., president of company. Cheney, Horace B., So. Manchester, Conn. Collins, Atwood, president Security Trust Cooley, Charles P., banker.

Goodwin, Charles A., attorney.

Goodwin, Francis, firm of J. J. & F. Goodwin.

Gross, Charles E., attorney.

Knight, James H., president First National Bank. Morgan, J. P., of J. P. Morgan & Company, New York. Shipman, Arthur L., firm of Gross, Hyde & Shipman. Sloan, E. J., vice-president of company.

Spencer, Charles L., president Connecticut River Banking

Company.

Way, John L., vice-president Travelers Insurance Co. Williams, A. N., vice-president.

Stockholders' Annual Meeting.—January; date set directors.

General Agents.

Thos. E. Gallagher, Western Department, Chicago, Ill. W. H. Breeding. Pacific Department, San Francisco, Cal.

INCOME, 1919.

Marine

   Fire, etc.   and Inland,

Gross premiums written... $25, 366, 636 11   $8.873,315 98

Less reinsurance    3,627,322 63   3,992.625 45

Less return premiums... 3,549,520 31   1.037.494 53

Total net premiums..$18, 189, 793 17   $3,843,196 00

Deposit premiums on perpetual risks   2, 003 05

Interest, etc   1,324,526 40

Profit on sale or maturity of ledger assets   92,907 88

Other income   S76 00

TOTAL INCOME   $23, 453, 302 50

DISBURSEMENTS, 1919. Net losses paid:

Fire and miscellaneous,    $6,487,102 46

Marine and inland    2.389,013 40

TOTAL   $8, 876, 115 86

Underwriting expenses    8,144,695 67

Dividends to stockholders    1,250,000 00

TOTAL DISBURSEMENTS    $18,375,775 00

Ratios to Premiums Written.— Losses paid, fire, etc., 35.7%; marine, 62.2%; incurred, 40.6%; underwriting expenses, 37.0%; underwriting profit, 8.4%.

Ratios to Premiums Earned.— Losses incurred, 46.0%; expenses incurred, 44.4%; underwriting profit, 9.5%.

Miscellaneous, 1919.- Net losses incurred. $8,945,525.79; net risks in force December 31, 1919, fire and miscellaneous. $2,856,251,545; marine and inland, $107,804,860; net premiums in force, fire and miscellaneous, $30,364,261.46; marine and inland, $2,133,316.01; perpetual risks in force, not included in above, $4,646,298; perpetual deposits held, $105,428.55.

Underwriting Exhibit, 1919.— Premiums earned during 1919, $19,421,789.53; gain from underwriting profit and loss items, $5,705.95; total, $19,427,495.48.

Losses incurred during 1919, $8,945,525.79; underwriting expenses incurred during 1919, $8,629,695.67; total, $17,-575,221.46.

Gain from underwriting during 1919, $1,852,274.0.2.

Investment Exhibit, 1919.— Interest, etc., earned during 1919, $1,359,880.07; profit on investments during 1919. $92,907.88; total, $1,452,787.95.

Loss on investments during 1919, $373,088.07; investment expenses incurred during 1919, $49,344.94; total, $422,-433.01.

• Gain from investments during 1919, $1,030,354.94.

Gain and Loss Exhibit, 1919.— Gains: Underwriting, $1,-852,274.02; investments, $1,030,354.94; other sources, $169,-333.82: total, $3,051,962.78.

Loss from dividends, $1,250,000.

Surplus, December 31, 1918, $8,904,032.69: increase, $1,-

• 801,962.78; surplus. December 31, 1919, $10,705,995.47.

Company.

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