BEST'S INSURANCE REPORTS   FIRE AND MARINE.   609

PROVIDENCE MUTUAL FIRE I1SURANCE COMPANY,

49 Westminster Street, Providence, R. I.

GENERAL REVIEW.

This company began business in 1800. It bears an ex
eellenit reputation and has accumulated a large surplus
besides paying good dividends to members. It insures
dwellings, household furniture, dwellings. with stores
therein, churches, school houses, and first-class business
buildings.

It is licensed in all of the New England States.

The assessment liability is an amount equal to the cash
premium. No assessments have ever been levied.

The mortgage loans are upon Rhode Island property, most
of it in Providence, valued at about twice the amount
advanced.

The bonds and stocks owned are of good character. The
security- valuations used in this statement are those fixed
by the Convention of Insurance Commissioners

Officers.— President, E. 1.. Watson; vice-president, W. G.
Nightingale; secretary, B. M. MacDougall.

Directors.— William G. Nightingale. Edward C. Bucklin.
Jeffrey Davis, William Gammell, Webster Knight, James M.
Scott, Edward L. Watson, William L. Hodgman, Charles H.
Merriman, Jr.

Tnome, 1919—Gross premiums written, $160,623.38:
less reinsurance, $6,609 32; less return premiums; $11.-
441 79; total net premiums written. $142.372.27: interest,
etc., $43,454.16: total income, $186,026.43.

Disbursements, 1919.- Net losses paid, $36,368.46; un
dervvriting expenses, $49,867.54; dividends to policyholders,
$48.252.115; other disbursements, $118.75; total disburse
ments, $134,607.10.

Ratios to Premiums 1[ ritten.—Losses paid, 2115%; in
curred. 29.7e/c; underwriting expenses. 35.0%; underwriting
profit. 28 0%.

Ratios to Premiums Fa'''ted.—Losses incurred, 31.S%c;
expenses incurred, 37.S% ; underwriting profit, 30.0%.

Underwriting Exhibit, 1919.- Premiums earned during
1919, $133,006.19; loss from underwriting profit and loss
items. $512.39; total, $132,493.80.

Losses incurred during 1919, $42,331.66; underwriting
expenses incurred during 1919, $50.235.87 total. $02.567.53.

Gain from underwriting during 1919, $39,926.27.
Jnrestnient Exhibit, '1919.- Interest, etc., earned during'
1919, $43,417.25.

Loss on investments during 1919. $39,085 38: investment
expenses incurred during 1919, $1,351.51; total. $40.436 89
Gain from investments during 1919, $2,980.36.

Gain and Loss Exhibit, 1919. Gains: Underwriting,
)M9.926.27: investments, $2.980.36: total, $42,906.63.
Loss from dividends, $48,252.05,

Surplus, December 31, 1918, $615,392.34; decrease, $5,-
345.42: surplus, December 31, 1919, $610,046.92.

QUINCY MUTUAL FIRE INSURANCE COMPANY,

2 Coddington Street, Quincy, Mass.

ADMITTED ASSETS, DECEMBER 31. 1919.

Mortgage loans on real estate    $61. 264 82

Interest due and accrued thereon    516 Si

Loans on collateral security    27, 000 00

Interest clue and accrued thereon    59 00

Bonds and stocks owned (market value)    92.2, 042 00

Interest due and accrued thereon    9.452 40

Cash in banks and office    32, 352 50

Agents' balances not over three months due.   18.31S 52

LIABILITIES, DECEMBER 31, 1919.
LOSSES: Adjusted, not due, $63.67; in

process of adjustment, $5,385.56: total   $5, 449 53

Unearned premiums    352, 993 28

Dividends to policyholders unpaid    3.547 28

Salaries, rents, etc   151 70

Estimated taxes hereafter payable    2, 200 00

Other liabilities    249, 91

TOTAL LIABILITIES    $364.591 70

NET CASH SURPLUS    70,6, 405 35

TOTAL ADMITTED ASSETS   $1. 070. 997 05   TOTAL    $1, 070, 997 05