614   BEST'S INSURANCE REPORTS—FIRE AND MARINE.

RUBBER MANUFACTURERS' MUTUAL INSURANCE COMPANY — Continued.

Ratios to Premiums Written.—Losses paid, 7.5%; in-   Loss on investments during 1919, $24,484; investment
cursed, 8.4%; underwriting expenses, 5.0%; underwriting expenses incurred during 1919, $1,106.95; total, $25,590.95.

profit, 76.8%.   Gain from investments during 1919, $17,289.66.

Ratios to Premiums Earned.— Losses incurred, 9.3%;   Gain, and Loss Exhibit, 1919.—Gains: Underwriting,

expenses incurred, 5.3%; underwriting profit, 85.3%.   $651,559.57; investments, $17,2.89.66; total, $668.849.23.

Underwriting Exhibit, 1919.— Premiums earned during   Loss from expiration return of premium, $614,736.16.

1919, $763,339.09; gain from underwriting profit and loss   Surplus, December 31, 1918, $467,519.25; increase, $54,-

items, $16; total, $763,355.09.   113.07; surplus, December 31, 1919, $521,632.32.

Losses incurred during 1919, $71,073.54; underwriting   Business from Organization,—Net premiums and assess

expenses incurred during 1919, $40,721.98; total, $111,-   ments, $11,665,817.37; net losses paid, $1,484,356.12; ex-

795.52.   piration return of premium, $8,255,935.14.

Gain from underwriting during 1919, $651,559.57.   Percentage of cash premiums returned during the year

Investment Exhibit, 1919.—Interest, etc., earned during on expiring policies as dividends or profits, viz.: One year,
1919, $42,768.11; profit on investments during 1919, 90% two years, 80%; three years, 71%; four years, 6l%
$112.50; total, $42,880.61.

ST. PAUL \IU'I'LTAL HAIL AND CYCLONE INSURANCE COMPANY,

Pioneer Building, St. Paul, Minn.

GENERAL REVIEW.

This company was organized under the laws of the State
of Minnesota in 1897, and writes, under a mutual plan,
insurance on growing crop protecting against loss by hail
and on buildings and other farm property against loss by
cyclone or windstorm.

Hail insurance is written for terms of from one to five
years and cyclone insurance is written for a five year
period. The limit of liability of assessment on the cyclone
insurance is not to exceed five mills or fifty cents a hun
dred dollars of insurance. The company states that no
assessment larger than three mills or thirty cents per hun
dred dollars insurance has ever been levied since it began
business.

The company advises us that it is operating in the follow
ing states: Colo.. Idaho, Ia., Ill.. Minn., Neb., S. D., Wis.,
W'vo. and Texas.

Officers.— President, L. C. Stebbins, and secretary, G. R.
Wadding.

The following extracts are from the statement of this
company as of December 31, 1919:

Total admitted assets    $337,679 15

Net cash surplus    297,850 72

Premiums and assessment    271,713 50

Net losses paid    109,629 10

Expenses paid    126,560 13

SECURITY AUTOMOBILE MUTUAL INS i 1t AN CE COMPANY,
22 N. Phelps Street, Youngstown, Ohio.

GENERAL REVIEW.

This company was incorporated under the laws of Ohio
on August 19, 1915, and was licensed and began business
September 15, 1916.

It has as secretary Ralph G. Davis who has had 15
years' insurance experience. He succeeded to the local
agency of his father which operated under the name of
John R. Davis' Sons, and this agency had specialized in
automobile insurance. Accordingly Mr. Davis has had a
good training in automobile insurance writing and is
particularly well informed on that class of business. He
is also general agent for Ohio for the Automobile Insur
ance Company of St. Louis, Mo.

This company writes automobile fire, theft and trans-

portation under a mutual plan at rates somewhat lower
than the stock company rates and the policyholder's lia
bility to assessment is three times the annual premium,
which is collected in advance.

It has never levied an assessment.

The company has made excellent progress, operating in
Ohio only. It has not in the past written in Cleveland.
Cincinnati, Columbus, Toledo or Dayton, the five largest
cities in Ohio, in order to eliminate the theft hazard. It
may enter these cities this year and write very conserva
tively in them.

The company has as general agent the Davis-Securities
Insurance Agency Company, which is the local agency
of which Mr. Davis is vice-president and general manager.