482   BEST'S INSURANCE REPORTS—FIRE AND MARINE.

GANG-TSZE INSURANCE ASSOCIATION, LIMITED—Continued.

extend its activities and open a Lt. S. Branch office which

will relieve \V illeox, Peck & Hughes of the management. The general agent in charge of the companies' marine underwriting is the Maritime Underwriting Agency, Inc., 1

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Company, Inc.   TOTAL DISBURSEMENTS    $834,070 5S

The United States Branch has made good progress and its   Ratios to Premiums 11'ritten.—Losses paid, 70.1 % ; in-

underwriting has been profitable. In 1918 and 1919. how-   curred, 93?% ; underwriting expenses. 25.9%; underwriting

ever, its loss ratio was high, resulting in underwriting   loss, 19.4c/c.

losses for those years. The expense of management h::s   Ratios to Premiums Earned.— Losses incurred, 93.5%;

been low.   expenses incurred. 25.5%; underwriting loss, 19.5%

The securities owned are of excellent character.   Miscellaneous, 1919.—Net losses incurred, $679,628.04;

The cumpanv's loss paying reputation is excellent.   net risks in force December 31, 1919, $12.770.571: net pre-

United States Jlauayers.—AWillcox, Peck & Hughes. No.   miums in force, $300,589.76.

3 South William street, New York.   iUnderwriting Exhibit, 1919.—Premiums earned during

Cnitrd States Trustee.—_5ldropotitan Trust Compare■,   1919, $726,689.77: loss from underwriting profit and loss

New York.   itch:s, $3,148 55: total, $723.541.22.

Glass of Business Written.—Marine insurance.   Losses incurred during 1919, $670,625.04: underwriting

Territory.— It operates in China, Japan. England.   expenses incurred during 1919. 8185.395.47; total, $865,-

Australia, United States. Manila, France, Canada. India,   023.51.

East India and Korea. In the United States it is licensed   Loss from underwriting during 1919, 8141,482.29.

in Cal , N. Y. and Wash.   Inrestment Exhibit. 1919.— Interest, etc., earned during

1919, $41,107.67: profit on investments during 1919. $216:

total, $41.323.67.

INCOME, U. S. BRANCH, 1919.   Loss on investments during 1919, $659.89.

—

Gain from investments during 1919, $40,663.78.

Gain and Loss Exhibit. 1919.— Gains: Investments, $40,663 78: remitted from Home Office, $73,335.07: total, $113,998.85.

Losses: Underwriting. $141.48.2.29; remitted to Home Office. $133.470 84 : total, $274,953.13.

Surplus, including deposit capital, U. S. Branch, Decem-ber 31. 1918, $529,678.41; decrease, $160,954.25: surplus, including deposit capital, U. S. Branch, December 31, 1919, $368.724.13.

YORKSHIRE INSURANCE COMPANY, LIMITED,
York, England.

UNITED STATES BIIANCII, SO

ADMITTED ASSETS, U. S. BRANCH, DECEMBER 31. 1919.

Bonds and stocks owned (market value)    $1,808.627 40

Interest due and accrued thereon    21.759 90

Cash in banks and office    248.039 81

Agents' balances not over three months due   325.953 34

Other admitted assets    473 6S

TOTAL ADMITTED ASSETS   $2,404,854 13

_MAII)l?N LANE. _Nl'\\ WORK.

LIABILITIES, U. S. BuANCn, DECEMBER 31, 1919.

LOSSES: Adjusted, not due, $51.950: in process of adjustment, $220.768: resisted. $26.710:   total. $299,428;   reinsurance,

$128.298.18: net       $171.129 8.2

Unearned premiums: Fire and miscellaneous, $880,1(14.41: inland navigtion, $113,-

732.71: total    993,837 12

Salaries, rents. etc,    1,000 00

Estimated taxes hereafter payable    47,000 00

'I.OTAI. LIABILITIES, except statutory

capital deposit    $1.212.966 94
STATUTORY CAPITAL DEPOSIT. $200.000

NET SURPLUS, U. S. Branch, including

statutory capital deposit    1,191,887 19

TOTAL   $2.404.854 13

GENERAL REVIEW.

History.— This company, was established in 1824. It; authorized capital is £1,000,000, composed of 190,000 shares of £5 each and 50,000 shares of £1 each. Of this prac-

tically all has been subscribed and £129,053 ($645,265) paid in. It entered the United States in 1910 to write fire insurance.

home Office Resources.— All assets of the company