520   BEST'S I \ SL: R N ('E REPORTS—FIRE AND 1[ ARI N E,

ENTERPRISE MUTUAL FIRE INSURANCE COMPANY,
Providence, R. I.

ADMITTED ASSETS, DECEMBER 31, 1919.

Bonds and stocks owned (market value)... $1,010.222 50

Interest due and accrued thereon    6,286 32

Cash in banks and office    147,618 95

Agents' balances not over three months due.   45, 640 50

LIABILITIES. DECEMBER 31, 1919.

Losses in process of adjustment    $13, 088 69

Unearned premiums    641.013 81

Salaries. rents, etc   347 45

Estimated taxes hereafter payable   13, 788 98

TOTAL MAR I l.I'TIES    $668, 23S 93

NET CASH SURPLUS    541, 529 34

TOTAL ADMITTED ASSETS    $1,209,768 27   TOTAL   :   $1,209,768 27

GENERAL REVIEW.

This company began business July 14. 1874. and is under
the same management tis the American, State, _Manufac
turers', Rhode Island. and Mechanics' mutual fire insurance
companies of Providence.

It is licensed in Ill.. Ky., Me., Mass., Mich., N. H.. N. T.,
Ohio. Pa.. R. I.. S. C., Vt. and Wis. Its policies cover
losses from fire, sprinkler leakage and windstorm. It also
writes use and occupancy insurance.

It is in excellent repute. and has accumulated a good
surplus, besides paying large dividends to policyholders.
The bonds and stocks owned are high grade. The security
valuations in this statement are those fixed by the Con
vention of Insurance Commissioners.

The contingent liability of members is five times the cash
premium. No assessment has ever been made.

Since organization the average rate of dividends to policy-
holders has been 71.4%: the rate in 1919 was 88.6%.

This company is a member of the Senior Conference of
New England Mill Mutual Insur. nee Companies. See tabu
lation at end of this section.

()Dicers.-- (At latest advises) President and treasurer,
Jno. R. Freeman; vice-presidents and engineers. Benj, G.
Buttolph and Edwin D. Pingree; secretary and assistant
treasurer, Theodore P. Bogert.

Directors.— (At lates ads-ices) Charles Hr Merriman,
president Lippitt Woolen Co.; Arnold B. Chase, treasurer
Valley Falls Co.: Webster Knight. of B. B. & R. Knight:
Henry- F. Lippitt, general manager Manville Co.; Edward
D. Pearce, president Providence Institution for Savings:
J. K. H. Nightingale. treasurer The Nightingale-Morse
Mills. Ins.: Howard O. Sturges, of Sturges & Gammell.
agents Berkeley Co.: Robert W. Taft. treasurer Coventry
Co.: John R. Freeman. president of the company, consult
ing engineer: Jesse II. Metcalf, agent Wansknek Co , presi
dent Auburn Woolen Co.; Samuel M. Nicholson, president
Nicholson File Co.: Albert H. Tillinghast. vice-president

Grosvenor Dale Co.; Henry- D. Sharpe, treasurer Brown &
Sharpe Mfg. Co.; Robert Ii. I. Goddard, president Lonsdale
Co., Goddard Bros., agents; 'Charles M. Holmes, treasurer
Holmes Mfg. Co., treasurer Gosnold Mills Co.; James R.
MacColl, treasurer Lorraine Mfg. Co., Frederick K. Cope-.
land, president Sullivan Machinery Company.

Income, 1919.—Cross premiums written, $801,684.77:
less•return premiums, $53,439.17; total net premiums writ-
ten, $748,245.60; interest, etc., $56,878.92; other income,
$19.32; total income, $805,143.84.

Disbursements. 1919.—Net losses paid, $101,546.32; un
derwriting expenses, $52,894.43; unabsorbed premium de-
posit to policyholders, $480,767.13; losses on investments,
$17.833 32; total disbursements, $653,041.20.

Ratios to Premiums ll'rittcn.—Losses paid, 136%; in
curred. 14.0% ; underwriting expenses. 7.1%; underwriting
profit, 76.1%.

Ratios to Premiums Earned.—Losses incurred, 14.4%;
expenses incurred, 7.6%; underwriting profit. 78.0%.

Underwriting Exhibit, 1919.—Premiums earned during
1919, $729,564.53: gain from underwriting profit and loss
items, $25: total, $729.589.53.

Losses incurred during 1919, $104,933.53; underwriting
expenses incurred during 1919. $55.22.x.84; total. $160,-
159.37.

Gain from underwriting during 1919. $569,430.16.

Investment Exhibit, 1919.—Interest, etc., earned during
1919, $56,763.99: profit ou investments during 1919, $19.32;
total, $56,783.31.

Loss on investments during 1919, $43,793.

Gain from investments during 1919, $12,990.31.

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

$569.430.16; investments, $12,990.31: total, $582,420.47.
Loss from unabsorbed premium deposit, $480,767.13.
Surplus, December 31, 1915, $439,876: increase, $101,-

653.34: surplus, December 31, 1919. .$541.529.34.