BEST'S INSURANCE REPORTS-FIRE AND MARINE.   217

LIBERTY FIRE INSURANCE COMPANY—Continued.

Company to conduct a general trust investment business.

The stockholders of the Insurance Corporation are reported to be men of means and of good business standing. The Insurance Corporation is a Delaware corporation having

an authorized capital of $2,000,000.

Management and Reputation.— John C. Bardwell, president of the Insurance Corporatio

,

is also president of this

company. He has been in the insurance business for a number of years and formerly acted as attorney-in-fact for the Central States' Inter Insurance Exchange and the Wholesale Grocers Reciprocal Indemnity Exchange, of St. Louis. The last named exchange was closed out early in 1920, its outstanding liability being assumed by the Central States Inter-Insurance Exchange; and the management of the latter exchange was transferred from John C. Bardwell to the International Service Company. Complaints have reached us from policyholders with reference to methods employed by those exchanges in the matter of adjusting losses, and delay in paying losses after adjustment.

The secretary and treasurer of the company is Charles L. Hecox, who formerly acted as Western manager at Chi- cago for the Ohio Farmers Insurance Company, of Leroy, Ohio. He is an experienced underwriter and is in good repute.

It wrote a moderate volume of business in 1919, with moderate expenses for a new company.

No complaints concerning its■ treatment of loss claimants have come to our notice.

Its investments are of good character, Affiliations.—Western Insurance Bureau, Rocky 1\I6untain Underwriters Association.

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

Territory.— It is licensed in Colo., Ill., Ind., Ia.. La., Mass., Mich., Minn., Miss., Mo., Mont., Nev., N. H., N. J., N. C., 0.. Pa., S. C., Tex., W. Va. and Wis.

Officers.— President, John Bardwell ; vice-presidents, H. E. Schultz. Jr.. «-m. Schroeder and Oscar B. MeGlasson; secretary, Charles L. Hecox; assistant secretary, E. E. Rebbing; treasurer, F. E. Norwine; assistant treasurer. Clear Deck.

Dirertors.

Bardwell, Edward, insurance, St. Louis, Mo.

Bardwell, John C., insurance, St. Louis, Mo.

Hecox, Charles L., insurance, St. Louis, Mo.

_McGlasson, Oscar B., secretary, O'Neil Higginson Co., Chicago. Ill.

Norwine, F. E, president, Norwine Coffee Co., St. Louis, Mo.

Peters, Wm. F., president Peters Dry Goods Co., St. Louis, Mo.

Schroeder. Wm., vice-president Schroeder-Kleine Grocer Co.. Dubuque, Ia.

Schultz, H. E., Jr., president Schultz Realty Co., St. Louis, Mo.

Wehmeyer, Richard, insurance, Clayton, Mo. Stockholders' Annual Meeting.— Last Tuesday in January,

General Agents.

Hornberger, Schmitt & Co., San Antonio Tex., for Texas. W. H. Sease, Columbia, S. C., for South Carolina. Thomas F. Daly Agency Co., Denver, Colo,, for Colorado. State Saving & Trust Co., Indianapolis, Ind., for Indiana.

INCOME, 1919.

Ratios to Premiums Written.—Losses paid, 8.6%; incurred, 19.1%; underwriting expenses, 41.5%; underwriting loss, 23.8%.

Ratios to Premiums Earned.—Losses incurred, 47.0%; expenses incurred, 111.6%; underwriting loss, 58.6%. Miscellaneous, 1919.— Net losses incurred, $42.304.07; net risks in force December 31, 1919, $22,822,972: net premiums in force, $240,395.15.

Underwriting Exhibit, 1919.—Premiums earned during 1919, $89,935.

Losses incurred during 1919, $42,304.07; underwriting expenses incurred during 1919, $100,353.93; total, $142,-655.

Loss from underwriting during 1919, $52,723.

Investment Exhibit. 1919.—Interest, etc., earned during 1919, $15:2,76.91; profit on investments during 1919, $1,-156.72: total. $16,433.63.

Loss on investments during 1919, $243.82.

Gain from investments during 1919. $16,189.81.

   Net Premiums   Net Losses

MISCELLANEOUS CLASSES:   Written.   Incurred.

Motor vehicles    $850 30    

llindstorm and tornado....   2,167 06   $29 00