240   BEST'S INSURANCE REPORTS   FLRE AND MARINE.

MECHANICS' INSURANCE COMPANY — Cont

valuations in this statement are at'actual market and not Other income    

at the higher valuations fixed by the Convention of Insur-   TOTAL

ance Commissioners.

Its loss paying record is excellent.

The largest item of real estate is the company's Home Office at 500 Walnut street, corner of Fifth street, a fourstor} brick and stone building very well located, carried at $98,000.

The mortgage loans are mainly upon improved Philadelphia property worth about twice the amount loaned.

Classes of Business Written.—Fire and tornado insurance.

Dividends.— For many year, the company has paid dividends of 10% per annum.

Territory.— It is licensed in Ala., Colo.. Conn., Fla.. Ga.. Idaho, Ind., Ia., Kan., Ely.. Md., Mass.., Micli.. Minn.. Mo., Mont., _Nob , N. H.. N. J., N. Y., N. C., N. 1).. O., Okla.. Pa.. Ti. I., Tenn.. Tex.. Utah. Va. and Wis.

Ofnirens.— President, Daniel H. Dunham: vice-presidents, Neal Bassett and John Kay: secretary. John A. Snyder: treasurer. John Kay.

Directors.— Baldwin, Samuel W.: Bassett. _Neal : Bowen, Daniel A.: Brown, J. Howard: Campbell, John _51.: Colter, Morrison C.; Dunham, Daniel H.: Duross. John A.: Dusenberry, James P.; Glenn, James H.; Jackson, Percy: Kay. John; McGrath, William V., Jr.: Reid, Archibald S : Snyder. John A.; Kelly, James H.: Douglas. Frederick H.: Bodim, William W.; Colyer, Chas. G., and Clawson. Wm. S.

General Agents.— Loren H. Green & Co.. Jaeksonvill'. for Florida : Western Department, Neal Bassett. Chicano. for all States west of Mississippi and Ohio river and cast of the

Rocky Mountains.

Stockholders' Annual

INCOME, 1919.

Deposit premiums on perpetual risks   21.906 02

Interest, etc   79,098 16

need.

50S 02

INCOME    $1,009,184 76

DISBCICSEuENTS, 1919

..

Net losses paid    $323,552 96

Underwriting expenses    372, 537 80

Dividends to stockholders    25,000 00

Deposit premiums returned    26, 163 35

Other disbursements    33,480 S4

TOTAL DISBURSEMENTS   $780, 734 95

Ratios to Premiums IIritten.—Losses paid, 35.6%; incurred, 38.6%; underwriting expenses, 41.0% : underwriting profit, 4.7%.

Ratios to Premiums Earned.--Losses incurred, 45.1% expenses incurred, 49.4% : underwriting profit, 5.5%.

Iliseellaneous, 1919.—Net losses incurred, $350.42474: net risks iu force December 31. 1919, .$171,024,5573; net premiums in force, $1.615494.90; perpetual risks in force, not included in above. $14,719,326: perpetual deposits held, $348.048.52.

i nderu-riting Exhibit. 1919.- Premiums earned during 1919. $776,362.21: gain from underwriting profit and loss item, dl.081.s5; total, $777.444.16,

Losses incurred during 1919, $350,424.74: underwriting expenses incurred during 1919, $384,037.80; total, $734,-462.54.

Gain from underwriting during 1919. $42,981.62. Investment Exhibit, 1919.- interest. etc.. earned during 1919. $79.102.14: profit on investments during 1919, •$138: total, $79,240.14.

Loss on investments during 1919. $129,299.25: investment expenses incurred during 1919, $6,915.60: total, $130,214.85.

Loss from investments during 1919, $56,974.71.

Cain and Loss Exhibit, 1919.— Gains:   Underwriting.

$42.981.62: other sources, $8.341.93; total, $51,323.55. Losses:   Investments. $56,974.71: dividend. $25.000;

total, $81,974.71.

Surplus, December 31, 1918, $311,705.23: decrease, $30,-651.16; surplus, December 31, 1919, $281,054.07.

Net Premiums   Net Losses

MISCELLANEOUS CLASSES:   Written.   Incurred.

Windstorm and tornado....   $9,871 77   $1.071 4S

Meeting. First Monday in May.

MERCANTILE FIRE INSURANCE COMPANY,
14 Richmond Street, Toronto, Ont., Can.

ADMITTED ASSETS, DECEMBER 31, 1919.

Bonds and stocks owned (market value)    ~ $409.255 75

Interest due and accrued thereon    6, 094 44

Cash in banks and office    107, 500 27

Agents' balances not over three months due   39, 990 S3
On deposit in England for investment pur-

posses   41. 893 86

Due for reinsurance losses    181 78

TOTAL ADMITTED ASSETS    $604,916 93

LIABILITIES, DECEMBER 31, 1919.

Losses in process of adjustment    $37, 187 00

Unearned premiums    169.825 66

Estimated taxes hereafter payable    5, 800 00

TOTAL LIABILITIES, except capital   $212. S12 66

CAPITAL PAID UP    50,000 00

NET SURPLUS    34'2,164 27

TOTAL   $604. 916 93

GENERAL REVIEW.

llistorti.—This company commenced business November 1, 1875, with an authorized capital of $500.000, of which $250,000 has been subscribed and $50.000 paid in. Its head office was formerly located at Waterloo. Ont., but was moved to Toronto early in 1916.

The par value of the stock is $100 per share.

iIanagement and Reputation.—The company is well managed and is making progress. It is owned by, and its policies are guaranteed by, the London and Lancashire Fire Insurance Company, Limited. of Liverpool, England, a large and reputable institution. It is under the same manage-