IS   BEST'S INSURANCE REPORTS—FIRE AND MARINE.

AMERICAN DRUGGISTS FIRE INSURANCE COMPANY, Mercantile Library Bldg., Cincinnati, Ohio.

ADMITTED ASSETS, DECEMBER 31, 1919.

TOTAL ADMITTED ASSETS    $628, 1S0 25

LIABILITIES, DECEMBER 31, 1919. LOSSES: Adjusted, not due, $1,618.60; in process of adjustment, $2,16.2.50; total,

$3,781.10; reinsurance, $130.73; net   $3, 650 37

Unearned premiums    115, 694 00

Salaries, rents, etc   1,981 99

Estimated taxes hereafter payable   17.669 20 Reserve for Federal tax subject to claim in

abatement   11,476 23

TOTAL LIABILITIES, except capital.   $150, 471 79

CAPITAL PAID UP    200.000 00

NET SURPLUS    277,708 46

TOTAL   $628, 180 25

GENERAL REVIEW.

History.—This company was incorporated under the laws of Ohio February 6, 1906, with $200,000 authorized capital. It was licensed by the Ohio Insurance Department January 15, 1907, with $100,000 paid-rn capital During 1908 $50,000 additional capital was paid in, and during 1909 the final issue of $50,000 was paid in, with $25,000 surplus. The par value of the stock is $25 per share.

Management and Reputation.— The company has reputable local backing and is under competent management, which is reflected in its large underwriting profits each year.

The company's stock is well distributed among druggists, the directors owning at the end of 1919 only $23,112 of the $200,000 capital stock then outstanding. It insures only drug stores.

The volume of business written is conservative and the risks are well scattered. Its expense of operation has been moderate, and its loss ratio muen below the average. The loss ratio was very low in 1919, but the expense ratio, while moderate, was increased on account of Federal in-come and excess profits taxes of $23,611.28.

Its investments are of excellent character. The security valuations in this statement are those fixed by the Convention of Insurance Commissioners.

Its loss paying record is excellent.

Affiliation.— Rocky Mountain Underwriters Association.

Class of Business Written.— Fire insurance.

Dividends.— 1910, 6%; 1911, 8%; 1912, 1913, 1914 and 1915, respectively, 9%; 1916 to 1919, 10%. Total dividends paid since organization, $180,000.

Territory.— It is licensed in Ark., Cal., Colo., Conn., Del., D. C., Fla., Ga., Ill., Ind., Ia., Kan., Ky., La., Me., Md., Mass., Mich., Minn., Mo., Neb., N. H., N. J., N. Y., N. D., 0., Okla., Ore., Pa., R. I., S. C., Tenn., Tex., Vt., Wash., W. Va. and Wis. It issues a few policies on property of its stockholders in States where it is not regularly licensed.

Officers.— President, Charles H. Avery; vice-president, L. G. Heinritz; secretary and general counsel, Frank H. Freericks; treasurer, Geo. B. Kauffman.

Directors.

Anderson, Wm. C., Brooklyn, N. Y., dean Brooklyn Col-

lege of Pharmacy and agent for State of N. Y. of company. Avery, Chas. H., Chicago, president of company. Beal, James H., Urbana, Ill., retired.

Freericks, Frank H., attorney, secretary and general counsel of company.

Heimstreet, E. B., Lake Mills, Wis., druggist, agent for Wis. of company.

Heinritz, L. G., Holyoke, Mass., vice-president, general agent for New England States of company.

Hopp, Lewis C., Cleveland, Mayell & Hopp Co., druggists. Jones, Simon N., Louisville, Ky., Simon N. Jones Oo., druggists, agent for Ky. of company.

Kauffman, Geo. B., Columbus, 0., treasurer of company, Kauffman-Lattmer Co., wholesale druggists.

Kahn, M. S., Baltimore, M. S. Kahn & Co., druggists. Muir, John D., Grand Rapids, Mich., drug manufacturer. Rothwell, Walter, Hatboro, Pa., druggist, agent for Pa.

of company.

Stucky, Edw. W., Indianapolis, Ind., druggist.

Young, Geo. 0., Buckhannon, W. Va., druggist, agent for W. Va. of company.

Zwick, A. 0., Cincinnati, Ohio, physician.

Stockholders' Annual Meeting.— Second Tuesday in February.

INCOME, 1919.

Gross premiums written    $298, 767 40

Less reinsurance   69,336 48

Less return premiums    8,820 10

Total net premiums    $220,610 82

Interest, etc., and rents    24,457 3S

Other income   864 16

TOTAL INCOME    $245,932 36

DISBURSEMENTS, 1919.

Net losses paid    $43,859 97

Underwriting expenses    89, 523 03

Dividends to stockholders    20,000 00

Other disbursements    19.577 17

TOTAL DISBURSEMENTS    $172,960 17

Ratios to Premiums Written.—Losses paid, 19.9%; incurred, 19.4%; underwriting expenses, 40.6%; underwriting profit, 25.9%.

Ratios to Premiums Earned.—Losses incurred, 20.7%; expenses incurred, 51.5%; underwriting profit, 27.7%.

Miscellaneous, 1919.— Net losses incurred, $42,670.02; net risks in force December 31, 1919, $21,758,195; net premiums in force, $230,363.09.

Underwriting Exhibit, 1919.— Premiums earned during 1919, $205,842.12.