226   BEST'S INSI R1NCE REPORTS.   FIRE AND MARINE.

LONDON ASSURANCE CORPORATION—Continued.

in force, fire and miscellaneous, $5.153,369.72; marine and   169.47; remitted from Home Office. $149.272.75; total, $S45,-

inland, $539,145.47.   660.14.

Loss from remittance to Home Office. $574,951.86.

Surplus, including deposit capital, U. S. Branch, December 31. 1918, $2,102.13465; increase, $270,708.28: surplus, including deposit capital, U. S. Branch. December 31, 1919, $2,372,842.93.

Underwriting Exhibit, 1919.— Premiums earned during 1919, 84,193.52(1.65: gain from underwriting profit and loss items, $22,487.86; total, $4,216,005.51.

Losses incurred during 1919, $1,593,702.37: underwriting expenses incurred during 1919, $1,744,190.06: total, $3.-637,892.43.

Gain from underwriting during 1919, 8575.116.08.

Investment Exhibit, 1919.- Interest, etc., earned during 1919, $242,497.90: profit on investments during 1919, $1.000; total, $243.497.90.

Loss on investments during 1919, $140.380.55: investment expenses incurred during 1919, $7.015.21: total, $147,396.06 Gain from investments during 1919. $96.101.84.

Gain and Loss Exhibit, 1919.—Gains: Underwriting, $578.116.08: investments, 8896.101.54: other sources. $22,-

LONDON GUARANTEE & ACCIDENT COMPANY., LTD.,
London, England.

GENERAL REVIEW.

This company was established in 1569. It has £250,000 ($1,250,000) authorized capital, of which £194,803 ($974,-015) has been subscribed, and £119.803 ($599,015) paid in. The company maintains a separate branch in the United States, and also in Canada. It commenced writing fire business in Canada during 1915.

llowne Office Resources, December 31. 1917.—(Latest available.) Total cash assets. 812.187.525: unearned premiums, $3,576,095; total liabilities, except capital. $9.-

747,530; capital paid in, $599,015; profit and loss account and reserve funds (surplus). $1.840,980. The above mentioned assets do not include $401,985 of subscribed capital subject to call. The figures are the latest available.

The company is in excellent standing and bears a very good reputation for loss settlements.

The Canadian Branch statement was not furnished us in time to be included in this report. Further information will be furnished upon request.

LONDON MUTUAL FIRE INSURANCE COMPANY,
33 Scott Street, Toronto, Ontario, Canada.

ADMITTED ASSETS, DECEMBER 31, 1919.

Real estate owned (market value)    $137. 661 12

Rents due and accrued    420 00

Mortgage loans on real estate    11.500 00

Interest due and accrued thereon   156 S2

Bonds and stocks owned (market value)    370.473 63

Interest due and accrued thereon   4 583 75

Cash in banks and office   67,563 66

Agents' balances not over three months due   62.607 72

Office furniture, plans and automobiles   10. 000 00

Due by reinsurers    3.125 00

'l'OTAL ADMITTED ASSETS    8608.121 70

GENERAL REVIEW.

History.— This company was organized as a mutual company and commenced business in Canada in 1559. It was subsequently changed to a cash mutual and so continued until 1599. when. by Act of Parliament, a capita: stock issue of $500,000 was authorized, of which ~110,000 has been subscribed and $19.250 paid up. Both the stock-holders and the policyholders have the right to vote for directors.

In February, 1912. the stock of this company was purchased by the London and Midland Insurance Company, Ltd., of London, England.

1.LIBILITIE.S. DECEMlu:It 31. 1919.

Early in 1917, the London and Midland was placed in the hands of receivers,

In March, 1919, A. H. Carson and his partner. F. D. Williams, purchased from the liquidator of the Lon-don and Midland Insurance Co. the stock of the " London Mutual," w1:4eh had been held by that company since 1912.

Besides the cash asset,' shown above. the company holds unassessed premium notes amounting to $150.941.35. These are considered a good asset in Ontario. the only Province in which the mutual feature is retained by the company. Everywhere else stock policies only are issued, the holders being free from any liability beyond the payment of pre-