BEST'S I1SIRANCE REPORTS —FIRE AND _MARINE.   181

HOME FIRE INSURANCE COMPANY — Coat

its surplus to $100.000, and in making the latter reduction paid a special dividend of $73,377, in addition to a regular dividend of $17,500. In 19,19 it increased its capital by stock dividend to $200,060.

The par . value of its stock is $25 per share.

It issues two forms of participating policies, the Lumber Underwriters of the Home Fire, and the Merchants Under-writers of the Home Fire. These are issued on the inter-insurance plan, the policyholders sharing in the profits. The company guarantees the policy and receives 15' commission on the earned premium, and 15% contingent, after deducting losses and expenses, in the case of the Lumber Underwriters. It receives 25Yo to cover expenses on the business of the Merchants Underwriters.

Management and Reputation.—The officers of the company are experienced insurance men, being the two members of the local agency firm of A. B. Banks & Co., which firm controls the company.

Its business is largely insurance on lumber risks. It writes some lumber business in States where it is not regularly livened, through the Lumber Insurers General Agency, 43 Cedar street. New York. It also writes some business on the Pacific coast through J. H. DeVeuve, Seattle. Washington.

The company is in good repute concerning its general treatment of loss claims. It writes a fairly large volume of business in proportion to its capital and surplus. The company's expenses of operation are very moderate and the average loss ratio, considering the class of business written, is normal.

The investments of the company consist chiefly of local industrial and bank stocks.

Classes of Business Written.— Fire, marine and toru.rdo insurance.

Territor/l.—It is licensed only in Arkansas and Mississippi.

Dividends.— It has paid dividends to stockholders of 10% annually since organization. In 1912 a special dividend of $73.377 was paid. In 1919 a stock dividend of 100% or $100,000 and a cash dividend of $10.000 was paid.

Officers.— President. A. B. Banks: secretary. John R. Hampton treasurer, Vann M. Howell.

Directors.

Banks. A. B., president of company.

Hampton. John R.. secretary of company.

Holmes- E. F.

Howell. Vann M.. treasurer of company.

Kenesson, C. D.

6'toelJrolders' Annual Meeting.—April 27.

Gcnerirl A,peyts.—A. B. Banks & Co.. Fordyce, Ark.

HOME FIRE INSURANCE CORPORATION OF VIRGINIA.
36 East Queen Street, Hampton, Va.

Gross premiums written.. Less reinsurance     Less return premiums..

Total net premiums..   $575. 154 91   $26.748

Interest, etc   107.063

Other income   9.441

Total. INCOME    $718.408 06

need.

IxcoME. 1919.   Marine

   Fire. etc.   and Inland.

   $740.477 05   $30,210 (19
12. 195 42

153, 126 72 3,461 93

16 66 33

DISBURSEMENTS, 1919.

Net losses paid    

Underwriting expenses    

Dividends to stockholders    

Dividends to policyholders    

Other disbursements    

$371. 568 15 131.907 40 110.000 00 20. 047 31

4.797 06

Ratios to Premiums Written.—Losses paid- fire. etc.. 64.6%; incurred- fire. etc.. 50.1%; marine, 157.5',x: underwriting expenses, 21.9%; underwriting profit. 15.6',x.

Ratios to Premiums Earned.—Losses incurred. 60.4'4: expenses incurred. 22.9%; underwriting profit. 16.7%.

Miscellaneous, 1919.—Net losses incurred, fire and miscellaneous. $288,409.11: marine and inland. $50.16:3.18: net risks in force December 31, 1919. fire and miscellaneous. $32,006,014: marine and inland. $549.106; net premiums in force, fire and miscellaneous. $637.689.74; marine and inland, $13.896.77.

Underwriting Exhibit, 1919.—Premiums earned during 1919. $560,90'3.92: loss from underwriting profit and loss items, $70.98: total, $560.532.94.

Losses incurred during 1919. $338.572.29: underwriting expenses incurred during 1919, $128.415.07; total, $466.-987.36.

Gain from underwriting during 1919. $93,845.58.

Investment Exhibit, 1919.—Interest. etc.. earned during 1919, $105,432.30; profit on investments during 1919. $9.-441.33: total. 4114.873.63.

Loss on investments during 1919, 81.121.44: investment expenses incurred during 1919, $4,554.64: total. .$5,676.08.

Gain from investments during 1919. $109.197.55.

Gain and Loss Exhibit. 1919.—Gains: Underwriting, $93.845.5S: investments. $109.197.55: total, $203,043.13.

Losses:   Increase in reserve for dividends unpaid to

policyholders, $56,473.13: dividends to policyholders, $20,047.31: dividends. 8110.000 (cash, $10.000: stock, $100.000) : total, $186.520.44.

Surplus, December 31, 1918, $270,966.18: increase. $16,-522.69; surplus, December 31. 1919. $287.488.87.

DECEMBER 31, 1919.

LIABILITIES, DECEMBER 31, 1919.

Unearned premiums    $33.933 71

Estimated taxes hereafter payable   1,046 27

Reserve for reinsurance    3,835 54

TOTAL LIABILITIES. except capital   $38, 815 52

CAPITAL PAID UP    53, 250 00

NET SURPLUS    29, 635 30

TOTAL   $121,700 82

ADMITTED ASSETS,