222   LEST'S INSURANCE REPORTS   FIRE AND MARINE.

LONDON AND LANCASHIRE FIDE INSURANCE COMPANY, LTD., Liverpool, England.

UNITED STATES BRANCH, 59 WILLIAM STREET, A I:\W YORK.

Real estate owned (market value)    $300.000

Bonds and stocks owned (market value)    4,424,016

Interest due and accrued thereon    64,550

Cash in banks and office    1,093,906

Agents' balances not over three months due   948, 170

Reinsurance due on losses paid    6, 107

ADMITTED ASSETS, U. S. BRANCH, DECEMBER 31, 1919.   LIABILITIES. U. S. BRANCH, DECEMBER 31, 1919.

00 LOSSES: Adjusted, due, $25,658: not due,

94   $48.314; in process of adjustment, $402,-

33   788.92; resisted, $11,275; total, $488,-

23   . 035.92; reinsurance, $175,746.17; net ....   $312,289 75

5S   Unearned premiums: Fire and miscellane-

72   ors, $3,239,948.14;   inland navigation.

$305,394.37; total    3,545,342 51

Salaries, rents, etc   2,150 00

Estimated taxes hereafter payable    220, 000 00

Contingent commissions, etc   8,500 00

Other liabilities    27 64

TOTAL ADMITTEll ASSETS   $6,836,751 80

TOTAL LIABILITIES, except statutory

capital deposit    84,088,309 90 STATU'T'ORY CAPITAL DEPOSIT, $200,000. NET SURPLUS. U. S. Branch, including

statutory capital deposit    2, 748,441 90

TOTAL   $6.836.751 80

GENERAL BEVIEw.

History.—This company was established in 1861. Previous to 1917. its authorized capital was £3,000,000, of which, on December 31, 1916, £2,641,250 had been sub-scribed and £264,125 ($1,320,625) paid in. It entered the United States in 1879.

In October, 1917, it was voted to increase the capital from £3.000.000 to £3,141,250 by the creation of 5,650 new shares of £25 each. On December 31, 1917, the paid-in capital amounted fo $1,566,412.

This company owns and operates the Orient Insurance Company of Hartford, Conn., acquired in June, 1900, and which the same year reinsured the Norwalk Fire Insurance Company of Norwalk, Conn., the operations of which company Were directed by the United States management of this company from 1891 to July, 1900.

In 1917 it purchased control of the Marine Insurance Company, of London. During 1918 it secured control of the Hand-in-Hand Insurance Co., the Queen City Fire Insurance Co., the Millers and Manufacturers Insurance Co., and the Fire Insurance Exchange Corporation, all of Toronto, Canada.

It also controls and operates the Safeguard Insurance Co. of New York, and the Standard Marine Insurance Co., Ltd., Liverpool. 'England. Early in 1919 it also acquired control of the Law, Union and Rock Insurance Co., Ltd., of London.

Besides its own policies the United States branch issues and guarantees policies entitled " English-American Under-writers Agency."

Ilonie Office Resources.— All assets of the company are liable for the payment of losses, wherever incurred. The ITome Office balance sheet. which includes all its assets and liabilities, showed the following as of December 31, 1918: Total assets. $55,048,877: capital paid in. $1,567,737; surplus over all liabilities, $11,665,913.

Management and Reputation.—The company is in excel-lent repute at its home and in this country. The United 'states branch is well managed and its operations have been very profitable. Its expenses of operations are moderate and its average loss ratio is low.

Its general loss paying record is excellent.

Its investments are of excellent character. The security valuations are those fixed by the Convention of Insurance Commissioners. The real estate owned is an eight-story fireproof office building in New York City, carried at cost.

Affiliations.— Eastern Union, Western Union, South-eastern Underwriters Association, Board of Fire Under-writers of the Pacific, Rocky Mountain Underwriters Association, Canadian Fire Underwriters Association, Western Canada Fire Underwriters Association, Mainland Board of Fire Underwriters, New Brunswick Board of Fire Under-writers, Nova Scotia Board of Fire Underwriters.

United States Manager.—A. G. _Mclhcaine, Jr., Hartford, Conn.

United States Trustees.—United States Mortgage and Trust Company of New York.

Classes of Business Written.—Fire, marine, accident, loss of profits, burglary, plate glass, liability and live stock insurance and fidelity bonds.

In the United States it writes fire, marine, war risk, automobile. tourists' baggage, tornado, hail, sprinkler leak-age. earthquake and explosion insurance.   -

Territory.— In the United States it is licensed in all States and Territories except Delaware, Guam. Porto Rico and the Virgin Islands.

Managers.— Western department, Chas. E. Dox, Chicago, Ill.: Pacific department, Sani B. Stoy, San Francisco, Cal.

INCOME. U. S. BRANeil. 1919.