22   BEST'S INSURANCE REPORTS—FIRE AND MARINE.

AMERICAN FIRE INSURANCE COMPANY OF THE DISTRICT OF COLUMBIA,
511 Seventh Ave., Washington, D. C.

ADMITTED ASSETS, DECEMBER 31, 1919.

Real estate owned (market value)    $75, 973 70

Mortgage loans on real estate    263,800 00

Interest due and accrued thereon    2,947 74

Bonds and stocks. owned (market value)    30, 000 00

Interest due and accrued thereon   196 68

Cash in banks and office    11,157 35

Agents' balances not over three months due   221 71
United States Treasury Certificates and in-

terest.. .   10. 160 31

Other admitted assets    40 47

TOTAL ADMITTED ASSETS    $394, 497 96

LIABILITIES, DECEMBER 31, 1919.

Unpaid losses    $2, 436 20

Unearned premiums    35, 535 35

Salaries, rents, etc    291 12

Estimated taxes hereafter payable    3,419 41

Other liabilities    5,818 00

TOTAL LIABILITIES, except capital.   $47, 500 OS

CAPITAL PAID UP    100, 000 00

NET SURPLUS    246,997 88

TOTAL   $394, 497 96

GENERAL _REVIEW.

History.—This company was incorporated under the laws of the District of Columbia as the German American Fire Insurance Company of the District of Columbia, and began business in 1873 with $100,000 authorized and paid-in capital. The' present title was adopted during 1918, but has not as yet become legal owing to the failure of Congress to pass various bills relating to the District of Columbia.

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

Management and Reputation.— The company is small but well managed and bears an excellent local reputation. Its business is entirely local and has been profitable.

Its expense of operation, due to the small volume of business transacted, is high, but its loss ratio has been very low.

The item of real estate is the company's office building. The mortgage loans are on Washington. D. C., property. The bonds owned art U. S. Liberty bonds.

Class of Business Written.— Fire insurance. Territory.—It is licensed and operates only in the District of Columbia.

Dividends.—In recent years it has paid dividends as follows: 1907, 12%: 1908 and 1909. 15%; 1910, 20%; 1911, 189's: 1912, 12% ; 1913 to 1916. inc., 18%; 1917, 19%; 1918 and 1919, 18%.

Officers.—President. Chas. Schafer; vice-president, F. A. Blundon; treasurer, Julius A. Maedel; secretary, H. H. Bergmann; assistant secretary, G. M. Emmerich.

Directors.

Bergmann, H. H., secretary of company.

Blundon, F. A., vice-president of company.

Edmonston, W. E., lawyer.

Gaseh, H. E., real estate.

Maedel, Julius A., treasurer of company.

Schafer, Chas., president of company.

Schmidt. E. L., lawyer.

Stockholders' Annual Meeting.— Third Thursday in June.

INCOME, 1919.

Gross premiums written    $33,583 80

Less return premiums    4, 358 00

Total net premiums    $29.225 80

Interest, etc   21,663 88

Other income    246 53

TOTAL INCOME    $51,136 21

TOTAL DISBURSEMENTS    $42,983 22

Ratios to Premiums Written.—Losses paid, 22.4%; incurred. 27.7%; underwriting expenses, 59.6%; underwriting loss, 13.7%.

Ratios to Premiums Earned.—Losses incurred, 36.9%; expenses incurred, 81.4%; underwriting loss, 18.5%.

Underwriting Exhibit, 1919.— Premiums earned during 1919. $21,920.79.

Losses incurred during 1919, $8.101.92; underwriting expenses incurred during 1919, $17.828.51: total, $25930.43.

Loss from underwriting during 1919, $4,009.64.

Investment Exhibit, 1919.—Interest, etc., earned during 1919, $21,193.51; profit on investments during 1919. $246.53; total, $21,440.04.

Investment expenses incurred during 1919, $966.38. Gain from investments during 1919, $20,473.66.

Gain and Loss Exhibit, 1919.— Gain from investments, $20,473.66.

Losses:   Underwriting, $4,009.64; dividends, $18,000;
total, $22.009.64.

Surplus, December 31, 1918, $248,533.86; decrease, $1,-535.98; surplus, December 31, 1919, $246,997.88.

' DISBURSEMENTS, 1919.

Net losses paid    $6,544 86

Underwriting expenses    17,431 00

Dividends to stockholders    18,000 00

Other disbursements   1, 007 36 ....................