BEST'S INSURANCE REPORTS—FIRE AND 1IARINE.   177

HENRY CLAY FIRE INSURANCE COIiPA \ 1,
Lexington, Ky.

ADMITTED ASSETS. DECEMBER 31, 1919.

Mortgage loans on real estate    $144,9722 33

Interest due and accrued thereon    1,821 16

Loans on collateral security    11. 760 00

Interest due and accrued thereon   301 24

Bonds and stocks owned (market value)    439. 829 71)

Interest due and accrued thereon   6, 633 56

Cash in banks and office    103.155 43

Agents' balances not over three months due   76.284 96
State. county and city warrants and other

assets   2_44,785 17

Interest due and accrued thereon    4.421 34

TOTAL   $1, 033. 964 S9
Deduct market value of special deposits in

excess of corresponding liabilities   10.000 00

TOTAL ADMITTED ASSETS    $1, 023, 964 89

LIABILITIES, DECEMBER 31. 1919.

LOSSES: Adjusted, due, $4,861.02; not due, $16,523.8S; in process of adjustment, $38.259.60; resisted. $14.500; total. $57,-

620.62; reinsurance, $10,285.37; net   $47,335 25

Unearned premiums    311, 784 44

Salaries, rents, etc    500 00

Estimated taxes hereafter payable    20, 500 00

Contingent commissions, etc   2, 500 00

TOTAL LIABILITIES, except capital   $382, 619 69

CAPITAL PAID UP    450, 000 00

NET SURPLUS    191.345 20

TOTAL   $1.023, 964 89

GENERAL REVIEW.

History.— This company was incorporated under the laws of Kentucky on March 1, 1910, with an authorized capital of $200,000, later increased to $500,000. The par value of its stock is $10 per share.

It began business July 14, 1910. with $55,000 capital and $72.546.88 surplus paid in. The amounts subsequently paid into capital and surplus accounts were as follows: 1911, capital, $26,420, surplus, $56.250: 1912. capital. $42.-410, surplus. $40.926.79; 1913, capital, $38.7$0. surplus, $79,850.23: 1914. capital. $137.390. surplus. $165,691 91. This made the paid-in capital at the end of 1914. $300.000.

In 1912 it purchased the plant and charter of the Louisville Insurance Company, and in November, 1913. absorbed the United American Fire Insurance Company of Frank-fort, Ky.

On February 1. 1915. it absorbed the Great Southern Fire Insurance Company of Lyndon. Ky. Stock of this company was substituted for that of the Great Southern and thus the paid-in capital was increased to $450,000. The surplus collected in 1915 amounted to $61.360.06.

All of the outstanding business of the Great Southern was reinsured by this company. The Kentucky paint of the Great Southern. consisting of about 130 agencies, was conserved by the issuance of an underwriters policy entitled " Treaty Underwriters." guaranteed by the Henry Clay and issued in Kentucky only. On April 2. 1915. all business of the- Great Southern. outside of Kentucky. was re-insured in the Westchester Fire Insurance Company of New York.

Management and Reputation.— Claude F. Snyder, the manager of the company, is an experienced insurance man. having formerly been identified, as State Aaent. at different times with the Orient. Thuringia and Manchester insurance companies, and the Insurance Company of North America, in the States of Illinois. Indiana. _Missouri, Iowa, Kentucky, Tennessee and Arkansas. He was secretary of the Kentucky and Tennessee Board of Fire Underwriters for five years. and was with the local and general offices of the Liverpool and Lonlon and Globe Insuurance Companies, in Chienao. for four years.

The directors of the company are substantial Kentucky business men. The amount of stock owned by them at par was ..33.517 at the end of 1919.

The company writes tobacco hail insurance on which no reserve is required at the end of the year. The net hail premiums written in 1919 amounted to $100.507.93. and

net hail losses incurred were $23,89252.   The volume of business transacted is conservative.

In 1915 and 1919 a good underwriting profit was made. The company's loss ratio and expense of operation itt 191S and 1919 were low.

Its loss paying reputation is excellent.

The company's investments are of good character. The security valuations used are those fixed by the Convention of Insurance Commissioners. The mortgage loans are se-cured by property. mostly in Kentucky, valued at over twice the amount loaned.

Affiliations.— Eastern Union. Western Union. Rocky Mountain Underwriters Association.

Classes of Business Written.— Fire, hail and tornado insurance.

Territory.— It is licensed in Colo.. Ill.. Ind., Ia., Ky., Mass., _Mich , N. J.. N. F.. O., Pa., Tenn. and Wis.

Diriclends.—It paid dividends of $20,000 in 1913 and $45.000 in 1914: 1915, 1916 and 1917. none; 1918, 3%: 1919. none: total dividends paid since organization, $97,389.

Officers.— President. H. M. F roman : vice-president and treasurer. J. L. Watkins: manager, Claude F. Snyder; secretary, F. G. Stilz.

Directors.

Blackburn, F. R., Stanton. Ky,. merchant.

Brock; W. B.. Lexington, Ky., insurance.

Dorman. J. R., High Bridge, Ky.. vice-president and general manager American Stone Ballast Co.

Dorsey. L. L.. Anchorage, Ky., farmer.

Durham. J. R.. Springfield, Ky.. farmer.

Fisher, F. M., Paducah, Ky., president Ohio Valley F. & M. Ins. Co.

Fromm), H. ML. Lexington. Ky.. farmer.

Fullerton. E. E.. Greenup. Ky.. lawyer.

Gaines. P. B . Carrollton, Ky.. farmer.

Gaines, \V. A.. Burlington, Ky.. farmer.

Gooding. L. P . Lexington. Ky., hardware.

Haas, Adam C.. Newport. Ky , insuranee.

Hornsby, 'F. L.. Eminence. Ky., farmer.

Letterlee. J. T.., Harrods Creek. Ky., farmer.

Marshall. Louis. Versailles. Ky.. cashier Woodford Bank Trust Co.

McGregor. T B.. Frankfort. Ky., lawyer.

Morris, C. H.. Frankfort. Ky.. lawyer.

O'Rear. E. C.. Frankfort. Ky.. lawyer.

Scott, J. T., physician. Williamstown. Ky.