BEST'S INStiRANCE REPORTS—FIRE AND MARINE.   515

CITIZENS' MUTUAL •AUTOMOBILE

All assessments levied by the Board of Directors of this
company shall be a lien upon the property insured in the
nature of a chattel mortgage, and in case said assessment
shall remain due and unpaid for a period of sixty days,
then and from thenceforth it shall and may be lawful for
the said insurance company, through its authorized agent
or attorney, to enter upon premises of the party or parties
insured, or on any place or places where said property and
chattels may be, and take possession thereof, and be au
thorized to sell at public auction, after giving ten days'
notice of the sale by posting up written notices thereof in
three public places in the city or township where the prop
erty is found, and to retain out of the proceeds the amount
of the assessment and reasonable expenses, the overplus or
residue, if any, to belong and to be returned to the party
insured."

The real estate owned is the company's office building
completed in 1918.

INSURANCE COMPANY — Continued.

Officers.— President, Edward Farmer; vice-presidents, F.
E. French, L. S. Hackett and S. R. Ketchum ; secretary and
treasurer, Wm. E. Robb.

Directors.— W. F. Nank, Mt. Cemens, auto sales; Wm.
Brogan, Lansing, merchant, Dancer-Brogan Co.; Geo. J.
Burke, Ann Arbor, lawyer, Cavanaugh & Burke; H. W.
Ellis, Fowlerville, real estate; F. W. Comiskey, Ann Arbor,
insurance; L. S. Hackett, Pittsford, insurance; R. J. Robb,
Fowlerville, farmer; K. P. Gannon, Brighton, auto sales;
Dr. Chas. E. Skinner, Howell, physician.

Income, 1919.— Total net premiums written, $169,190.02;
assessments. $160,046.50; interest, etc., $19,959.92; sale of
salvaged cars, $14,018.64; total income, $363,245.98.

Disbursements, 1919.—Net losses paid, $182,492.27; un
derwriting expenses, $166,456.06; other disbursements, $12,-
520,87; total disbursements, $361,469.20.

COAL OPERATORS' MUTUAL FIRE INSURANCE COMPANY,
117-119 South Fifth Street, Springfield, Ill.

ADMITTED ASSETS, DECEMBER 31, 1919.

Bonds and stocks owned (market value) ...   $51.491 50

Cash in banks and office    547 04

Agents' balances not over three months due.   7. 525 54

TOTAL ADMITTED ASSETS    $59, 564 OS

LIABILITIES, DECEMBER 31, 1919.

Unearned premiums    $14, 876 25

Due for borrowed money    9, 000 00

Other liabilities    313 84

TOTAL LIABILITIES    $24, 190 09

NET CASH SURPLUS    35, 373 99

TOTAL   $59, 564 08

GENERAL REVIEW.

This company began business January 24, 1895. and is
licensed only in Illinois. Its business is small and is mostly
all written at the regular stock company rates. It writes
both assessable and non-assessable policies.

The assessment liability is three times the cash premium,
The company advises us that no extra assessment has ever
been levied.

It is licensed in Illinois only.

The largest net amount insured in any one hazard is
5.000.

Officers.— (At latest advises) President, W. L. Schmick:
vice-president, L. H. Smith; secretary, Charles V. Hickox:
treasurer, H. C. Adams.

Directors.— (At latest advises) W. L. Schmick, Big M.
C. & I. Co.; H. C. Adams. Jones & Adams C. Co.: T. T.
Brewster, Mt. O. & S. C. Co.: C. M. Moderwell, C. M.
Moderwell & Co.; .L. H. Smith, Spring Valley Coal Co.;
\V. C. Hill. Thos. N. Mordeau C. Co.; H. N. Taylor. Cen
tral C. & C. Co.; W. B. Jess. Springfield District Coal M.
Co.: Charles V. Hickox.

Income, 1919—Gross premiums written, $58,247.45; less
reinsurance, $5,081.09; less return premiums, $6,807.92;

total net premiums written, $46,358.44; interest, etc., $2,-
075.53; other income, $4,000; total income, $52,433.97.

Disbursements, 1919.—Net losses paid, $38,852.84; un
derwriting esperises, $14,058.38; total disbursements, $52,-
911.22.

Ratios to Premiums Written.— Losses paid, 83.S%; in
curred. 83.8%; underwriting expenses, 30.3%; underwrit
loss, 16.4%.

Ratios to Premiums Earned.— Losses incurred, 85.4%;
expenses incurred. 31.3%; underwriting loss, 16.7%.

Underwriting Exhibit, 1919.—Premiums earned during
1919, $45 496.19.

Losses incurred during 1919, $38,852.84; underwriting
expenses incurred during 1919, $14,249.75; total, $53,102.59.

Loss from underwriting during 1919, $7,606.40.
Inrestmeut Exhibit, 1919.—Interest, etc., earned during
1919. $2.075.53.

Gain and Loss Exhibit, 1919.—Gain from investments,
$2,075.53.

Loss from underwriting, $7,606.40.

Surplus, December 31. 1918, $40,904.86; decrease, $5,-
530.87: surplus, December 31, 1919, $35,373.99.