In recent years the company's underwriting operations taken upon the whole have not been profitable. In 1918, however, a good underwriting profit was made. In 1919 the unearned premiums increased about $36,000, causing a small underwriting loss.
The volume of business transacted is conservative.
The company's stock is not widely scattered. At the end of 1919 the directors owned $41.750, par value. of the $300.000 capital stock then outstanding. The directors are substantial and of high business standing.
Its expense of operation has been high, but its average loss ratio is about normal. Ds investments are of good character. The security valuations in this statement are those fixed by the Convention of Insurance Commissioners.
The mortgages are mainly small loans upon improved property in Allegheny county, valued at about three times the amount loaned.
The company's loss paying record is excellent. Affiliations.— „extern Insurance Bureau, Rocky Mountain Underwriters Association.
Classes of Business Written.-- Fire and tornado insurance.
Territory.—It is licensed in Colo.. Ill.. Ind., Md., Mass., Mich.. _Minn., N. J , N. Y., O., Pa., \V. Va. and Wis.
Dividends.— In recent years it has paid dividends as follows: 1901 to 1908, inc.. 6%; 1909. 7%: 1910 to 1918, inc., 8%; 1919, 4%.
Oficers.—President, W. H. Nimick; first vice-president, H. S. A. Stewart: second vice-president, D. P. Black; secretary and treasurer, John D. C. Miller: assistant secretary, \Vm. K. Owrey; assistant treasurer, H. E. Becker