280   BEST'S INSURAN('E REPORTS   FIRE _0\1) \1Al INE.

NATIONAL UNION FIRE :INSURANCE ('O\!PANY.
Washington, D. C.

ADMITTED ASSETS, DECEMBER 31, 1919.

Real estate owned (market value)    $155.213 11

Rents due and accrued    197 50

Mortgage loans on real estate    134, 050 00

Interest due and accrued thereon    1,762 03

Bonds and stocks owned (market value)    10. 000 00

Interest due and accrued thereon    88 55

Cash in banks and office    6, 456 03

Agents' balances not over three months due   1.393 11

LIABILITIES, DECEMBER 31. 1919. Losses in process of adjustment, $46 47; re-

insurance, $419; net    $4.228 0o

Unearned premiums    39. 403 74

Estimated taxes hereafter payable    1.787 94

Reinsurance owing (net)    6.319 23

TOTAL LIABILITIES, except capital   $51.743 91

CAPITAL PAID UP    100, 000 00

NET SURPLUS    172,937 31

TOTAL ADMITTED ASSETS    $324, 651 22   TOTAL,    $324. 6$1 22

GENERAL REVIEW.

history.— This couipaunv was incorporated under the laws cf the District of Columbia and began business in 1865. The paid-in capital is $100,000.

The par value of the stock is $5 per share.

.11am.agenient and Reputation.—The company is in good repute and is making progress. The volume of business written is very small and is entirely local.

The company's high expense ratio is due to the small pre-' mium income referred to. Its loss ratio is low. Its surplus was decreased $8,023.61 at the end of 1919, but it increased its reserves because of growth in volume of business trans-acted and paid a dividend of $8,000.

The company's loss paying reputation is excellent.

On December 31, 1919, the directors owned $34,035, par value, of the $100,000 capital stock.

Class of Business Written.— Fire insurance.

Dividends.—It paid dividends of 7% per annum in recent years until 1915, inclusive, since when the rate has been 8%.

Territory.— It is licensed and operates only in the District of Columbia.

Officers.— President, Albert F. Fox; vice-president, Charles B. Bailey; secretary, Philip F. Larner; assistant secretary, William H. Somervell.

Directors.— Bailey, Charles B.; Bradley, Thomas; Davis, Floyd E.; Fox, Albert F.; Galliher, W. T.; Kolb, J. Leo; Lanier, John B.; Lanier, Philip F.; Pratt, Jr., Walter S.; Saul, B. F.; Spransy, George; Weedon, John C.

INCOME, 1919.

   Gross premiums written    $62. 704 14

Less reinsurance    13.287 65

   Less return premiums    8, 062 13

   Total net premiums    $41, 354 36

Interest, etc   21.735 91

TOTAL INCOME    $63, 090 21

DISBURSEMENTS, 1919.

Net losses paid    $5.175 90

Underwriting expenses    26. 103 84

Dividends to stockholders    8.000 00

Salaries, commissions, etc   11, 851 99

TOTAL DISBURSEMENTS    $54,131 73

Ratios to Premiums Written.— Losses paid, 19.8'/e; incurred, 26.6%: underwriting expenses, 63.1%: underwriting loss, 25.2%.

Ratios to Premiums Earned.— Losses incurred. 33.4%; expenses incurred, 77.0%; underwriting loss, 31.6%.

Miscellaneous, 1919.— Net losses incurred, $11.003.15: net risks in force December 31. 1919. $140,723.39: net premiums in force, $66,468.62.

Underwriting Exhibit, 1919.— Premiums earned during 1919, $32,977.72; loss from underwriting profit and loss items, $6,993.54; total. $25,984.18.

Losses incurred (luring 1919, $11,003.15; underwriting expenses incurred during 1919, $25,411.34: total, $36,414.49.

Loss from underwriting during 1919, $10,430.31.

Investment Exhibit, 1919.— Interest, etc., earned during 1919, $21,643.97.

Investment expenses incurred during 1919. $11.237.27. Gain from investments during 1919, $10,406.70.

Gain and Loss Exhibit, 1919.— Gain from investments. $10,406.70.

Losses: Underwriting, $10,430.31: dividends. $8,000: total. $18,430.31.

Surplus, December 31, 1918, $180,960.92: decrease. $8.-023.61; surplus, December 31, 1919, $172,937.31.