5 TO   BEST'S I1TSURANCE REPORTS—FIRE AND MARINE.

MILLERS' NATIONAL

surplus a permanent fund of $200,000 in order that it might
enter other States as a stock company. This fund was in-
creased to $500,000 during 1908,

It writes fire and tornado insurance, and fire, theft and
collision on automobiles.

The securities owned are of good character and are re
munerative. The security valuations in this statement are
those fixed by the Convention of Insurance Commissioners.

The mortgage loans are chiefly upon property in North
Dakota, South Dakota, Montana and Kansas, worth about
three times the amount loaned.

The company's loss paying record is excellent.

Territory.— It is licensed in Cal., Colo., Conn., D. C.,
Idaho, Ill., Ind., la., Md., Mass., Mich., Minn., Mo., Mont.,
Neb., N. J., N. Y., N. D., 0., Okla., Ore., Pa., R. I., S. D.,
Tenn, Utah, Wash, and Wis. It also operates in the
Dominion of Canada.

Officers.— President, C. B: Cole; vice-president, Jos. L.
Compte; secretary, M. A. Reynolds; treasurer. H. K. Wol
cott; assistant secretary, F. S. Danforth; general agent,
J. T. Caldwell; cashier, A. I. Bushnell.

Directors.— C. B. Cole, C. H. Cole Milling Co., Chester,
Ill.; A. Fassler, Willis Norton Co., millers, Topeka, Kan.;
H. S. Helm, Russell-Miller Milling Co, Minneapolis, Minn.;
Jos. I.eCompte, Lexington Roller _Idill Co.. Lexington, Ky.:
J. H. _Mae_Millan, Cargill Elevator Co., Minneapolis, _Minn.;
Samuel Plant, Geo. P. Plant Milling Co. St. Louis, Mo.:
M. A. Reynolds, underwriter. Chicago. IIl ; H. K. Wolcott,
retired, formerly Newton Wagon Co. (manufacturers),
Batavia, Ill.

Agency'Managers.— The Thos. F. Daly Agency Co., gen
eral agents, Denver, Colo.: C. H. Cole, Seattle. Wash ,
Pacific Coast Department: H. M. Giles, Minneapolis. Minn..
Northwestern Department; Chas. H. Ridgway, Kansas City,
Mo., Southwestern Department; C. A. Stephens, Great Falls.
Mont., Montana Department; E. K. Schultz, Philadelphia,
Pa.; Jennings Insurance Agency, general agents, Salt Lake
City, Utah; Central Fire Office. Inc., general agents, Metro
politan District, New York City; Herbert Buxton, general
agent, Suburban District, New York City.

MILL OWNERS' MUTUAL FIRE INSURANCE COMPANY,

20 West Jackson Blvd., Chicago, Ill.

INSURANCE COMPANY— Continued.

Agency Managers.—Pacific Coast Agency, C. H. Cob
Seattle, Wash.; Northwestern Agency, H. M. Giles, Minn(
apolis, Minn.; Southwestern Agency, Chas. H. Ridgwa3
Kansas City, Mo.; Montana Department, C. A. Stephen;
Great Falls, _Mont.

Income, 1919.— Gross premiums written, $3,019,497.30
less reinsurance, $564.536.35; less return premiums. $690
978 40; total net premiums written, $1,763,982.55; assess
meats, :%65,665.54; deposit premiums on renewal risk:
$56.099.85; interest, etc., $153,651.45; other income. $15
527; total income, $2,384,926.39.

Disbursements, 1919.—Net losses paid, $830,983_27; ur
derwriting expenses, $732,9.25.7.2; deposit premiums r:
turned. $80.398.61; other disbursements, $29,577.57; tots
disbursements, $1,679,885.17.

Ratios to Premiums Written..—Losses paid, 39.3%; it
curred, 41.4%: underwriting expenses, 34 4%; underwril
ing profit, 8.9%.

Ratios to Premiums Earned.—Losses .incurred, 48.4%
expenses incurred, 41.2%; underwriting profit, 10.5%.
Underwriting Exhibit, 1919.—Premiums earned durin
1919, $1.820,036.72; gain from underwriting profit and lm
items, $1,791.77: total, $1,821,828.49.

Losses incurred during 1919, $881,251.58; underwritin
expenses incurred during 1919, $749,689.73; total, $1,630
941.31.

Gain from underwriting during 1919, $190,887.18.

Investment Exhibit, 1919.— Interest, etc., earned durin
1919, $169,216.16; profit on investments during 1919, $11
777; total. $180,993.16.

Loss on investments during 1919, $70,252.25; investmer
expenses incurred during 1919, $4,057.26; total, $74,309.5'

Gain from investments during 1919, $106.683.65.

Gain and Loss Exhibit, 1919.— Gains: Underwriting
$190,887.18; investments, $106,683.65; other sources, $16
173.26; total, $313,744.09.

Surplus, December 31, 1918. $1,834,797.35; increas
$313.744.09: Surplus. December 31, 1919, $2,148,541.44.

GENERAL REVIEW.

This company began business September 9, 1895, and is
under the same management as the Protection Mutual Fire
Insurance Company of Chicago. It has been successful,
returning good dividends to policyholders. The rate of
dividend to policyholders during 1919 was 87%. Since
organization the average has been 77%.

The company includes in its fire policy, sprinkler lea]
age and windstorm indemnity without additional charge.

The assessment liability is five times the cash premiur
No assessments have ever been made.

This company is a member of the Junior Conference
New England Mill Mutual Insurance Companies. See tab!
lation at end of this section.