BEST'S INSURANCE REPORTS—FIRE ANI) MARINE.   5

AGRICULTURAL INSURANCE COMPANY.
203 Washington Street, Watertown, N. Y.

ADMITTED ASSETS, DECEMBER 31, 1919.

TOTAL ADMITTED ASSETS    $6.711,669 90

LIABILITIES, DECEMBER 31, 1919. LOSSES: Adjusted, due, $41,414; not due, $30,934.64; in process of adjustment, $647,276.09: resisted, $60,687.90; total,

$780,312.63; reinsurance, $249,026.71; net   $531, 285 92

net   $531,285 92 Unearned premiums: Fire and miscellane-

ous, $2,991,674; inland navigation, $187,-

55S; marine. $27,812; total    3,207,044 00

Salaries, rents, etc   8, 000 00

Estimated taxes hereafter payable   135,000 00

Contingent commissions. etc   2, 000 00

Conflagration reserve    300,000 00

TOTAL LIABILITIES, except capital   $4. 201, 329 92

CAPITAL PAID UP    500, 000 00

NET SURPLUS    2, 010, 339 98

TOTAL   $6, 711, 669 90

GENERAL REVIEW,

History.— This company began business as a mutual company in 1853. In 1863 it was incorporated as a stock company with a paid-in capital of $50,000 and a surplus of $21,847.15, which was taken over from the mutual company. In 1865 its capital was increased to $100,000, by the issuance of new stock; in 1872 to $200,000, by a stock dividend; in 1880 to $300,000, by a stock dividend; in 1883 to $500.000, by a stock dividend of $200,000. In 1874 its stockholders contributed $100.000 to make good an impairment of capital which was brought about by new reserve requirements.

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

Jlanagenient and Reputation.—The company has successful and substantial men identified with it as directors. and its stock is well distributed. The directors owned at the end of 1919 $118,100. par value, of its $500,000 capital stock.

Its underwriting policy has been conservative and suecessful. The company has made steady progress and bears an excellent reputation. It is in excellent repute concerning its treatment of loss claimants.

Its management expenses have been about the average, and its loss ratio has been below normal.

The investments of the company are of excellent character.

The mortgage and collateral loans are well secured. The real estate owned is the Home Office building, carried at $45.000. the book value being $51,207.88.

Affiliations.— Eastern Union, Western Insurance Bureau, Southeastern Underwriters Assn., Board of Fire Under-writers of the Pacific, Rocky Mountain Underwriters Assn., Mainland•Board of Fire Underwriters. Eastern Automobile Underwriters Conference, National Automobile Underwriters Conference, New England Automobile Underwriters Conference, Pacific Coast Automobile Underwriters Conference, Southern Automobile Underwriters Conference. Western Automobile Underwriters Conference.

Classes of Business Written.—Fire, marine, hail, explosion and riot, automobile, tourists' baggage, registered mail, sprinkler leakage and tornado.

Territory.— Licensed in all the States and Territories

except Guam, N. M.. N.. D., the Philippines, Porto Rico, Virgin Islands and Vt.; it also operates in British Columbia.

Dividends.— Dividends paid in recent years have been as follows: 1900 to 1908, inc., 10%r: 1909, 12.5%; 1910 and 1911, 15`/ ; 1912 and 1913. 15%; 1914 to 1916, inc., 20%; 1917. 22.5%; 1918 and 1919, 40%.

Officers. - President, W. H. Stevens; vice-presidents, J. Q. Adams and W. C. Stebbins: secretary, P. H. Willmott; treasurer, H. R. Waite.

Directors.

Adams, J. Q.. vice-president Agricultural Ins. Co. Anderson, D. M., retired paper manufacturer.

Buck, R. J., president Jefferson Co. National Bank. Carlisle, F. L., president Northern N. Y. Trust Co. Machold, H. E.

Middleton, D. C., vice-president Northern N. Y. Trust Co. Peck, C. F., insurance.

Stebbins. J. C.

Stebbins, W. C., merchant.

Sterling. E. B., president West End Paper Company. Stevens, W. H., president Agricultural Ins. Co.

Upham, S. A., president Brownville Paper Co.

Willmott, P. H., secretary Agricultural Ins. Co. Stockholders' Annual Meeting.— Fourth Wednesday in January.

General Agencies.— Ed. Brown & Sons, San Francisco, Cal.; for Alaska, Arizona, California, Idaho, Montana, Nevada, Oregon, Utah, Washington, Wyoming, Hawaii, British Columbia; Alfred Paull & Son, Wheeling, W. Va., for West Virginia; Frank B. Clark, New Orleans, for Louisiana and Mississippi; Cashman & Evans, Denver, for Colorado; Gross R. Scruggs & Company, Dallas, Tex., for Arkansas and Texas.

Hail, General Agents.— Cavanaugh. Bjornson Co., Omaha, Nebr., for Kansas, Nebraska and South Dakota.

INCOME, 1919.

Marine

   Fire, etc.   and Inland.

   Gross premiums written... $5,295,059 57   $1,416.960 92

Less reinsurance    1,231,807 29   476. 536 20