BEST'S INSURANCE REPORTS-FIRE AND MARINE.   375

REPUBLIC INSURANCE COMPANY OF TEXAS — Continued,

monwealth and International agents in Texas write independent lines. as heretofore, issuing policies respectively in the "Austin Underwriters," "Commonwealth Under-writers," and " International Underwriters " of the Republie Fire Insurance Company, its entire assets being behind each policy contract.

-ltan.agement and Reputation.— It was formed by substantial interests and has good backing.

Its directing forces have long been successful underwriters in Texas and both the president, George W. Jalonick, and the vice-president. 1. Jalonick, are highly regarded and are in excellent repute.

It wrote, during 1919, a volume of business well within its net resources with a low loss ratio and very moderate expenses.

Its investments are of high character, consisting mainly of Liberty Bonds and bank stocks. The real estate item is the Home Office carried at market value.

Territory.— It is licensed in Cal., Ia.. Mass., N. Y. and Tex.

Officers.— President, George W. Jalonick; active vice-president, I. Jalonick; vice-president, J. B. Adoue ; secretary, A. F. Pillet; assistant secretaries, J. H. Hines, T. R. Mansfield and George Pfouts.

Directors.

Adoue, J. B., president National Bank of Commerce. Coke, Alex, of Coke & Coke, attorneys, Dallas. Sanger, Alex, of Sanger Bros., Dallas.

Jalonick. George W., president. Dallas.

Jalonick, I., vice-president, Dallas.

Jalonick, George W., Jr., insurance, Dallas.

Joy. M. A., investor, Terrell.

Ferris, Royal A., chairman, American Exchange National Bank, Dallas.

Heard. J. S., of J. S. & S. D. Heard, investors, McKinney, Texas.

Crouch, J. P., vice-president Collins County National Bank. McKinney, Texas.

Slaughter, C. C., president C. C. Slaughter Co., Dallas. Flippen, Edgar, president Armstrong Packing Co., Dallas. Adoue, J. I3., Jr., vice-president National Bank of Com-

merce, Dallas.

Stockholders' Annual Meeting.— Third Wednesday in January.

INCOME. 1919.

Marine

   Fire. etc.   and Inland.

   Gross premiums written.. $2,035.745 92   $1S4. 536 04

Less reinsurance    337.173 89    

Less return premiums..   257, 214 44   24. 907 75

   Total net premiums.. $1,441,357 59   $159. 628 29

Ratios to Premiums TVritten.— Losses paid, fire, etc., 18.6%; marine, 70.7%; incurred, fire, etc., 20.5%; marine, 113.4%: underwriting expenses, 33.5%; underwriting profit, 10.4%.

Ratios to Premiums Earned.—Losses incurred, 40.3%; expenses incurred, 45.4% : underwriting profit, 14.1%.

Miscellaneous, 1919.—Net losses incurred, fire and miscellaneous, $294.938.91; marine and inland. $181,031.46; net risks in force December 31. 1919, fire and miscellaneous, $111,916,127: marine and inland, $24,329,642; net premiums in force, fire and miscellaneous. $2,073.645.11; marine and inland. $184,536.04.

Underwriting Exhibit, 1919.— Premiums earned during 1919, $1,181.985.84: loss from underwriting profit and loss items, $2.065.39: total. $1,179,920.45.

Losses incurred during 1919, $475,970.37; underwriting expenses incurred during 1919, $536.704.69; total, $1,012,-675.06.

Gain from underwriting during 1919. $167,245.39.

Investment Exhibit, 1919.—Interest, etc., earned during 1919. $188.424.92: profit On investments during 1919. $1,-848; total. $190.272.92.

Investment expenses incurred during 1919, $171,525.55. Gain from investments during 1919, $15,747.37.

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

$167,24539: investments, $18,747.37: other sources, $1.000;

total, $186,992.76.

Dividends. $85.000.

Surplus, December 31, 1918. $651.958.84; increase. $101,-992.76: surplus, December 31, 1919. $753.951.60.

Net Premiums   Net Losses

MISCELLANEOUS CLASSES:   Written.   Incurred.

Windstorm and tornado   $51. 367 69   $7, 868 50