$341.7S: other cash income, $459.70; deposit by manager
and attorney, $6,347.52: total cash income, $100.130.65.
Cash- Disbursements, 1919.- Losses paid, gross, $42,-
600.83: less salvage, $131.55; less reinsurance, $19,949.41;
net losses, $22,519.87: paid to attorney-in-fact for adminis
tration expense, $28,994.77; Advisory Committee expense,
8152.82: legal expense, $50: taxes, licenses and fees,
$261 96: other expenses. $17.32; savings to policyholders
paid in cash, $W126.76: dividends to underwriters paid,
$3,170.94; total cash disbursements, $64,294.44.
Transactions Since Organization.— Premium deposits re
ceived. gross, $23,9,701.27; less return premium deposits.
$24.7S9.14: less reinsurance, $56.943.86; net premium de-
posits. $157,968.27; interest received on investments and
bank deposits, $344.15: permanent reserve fund required by
Texas laws. $10.000: deposits by manager and attorney,
$3.315.85; guarantee fund, $200,000; total cash income,
$371,628.27. Losses and adjustment expenses paid, gross,
$70,214.84; less salvage, $131.55; less reinsurance, $38,-
456.16: losses and adjustment expenses paid, net, $31,-
627.13; commissions paid to attorney-in-fact for adminis
tration expenses, $49,825.44; other expenses paid, $823.20;
total expenses paid. $50,648.64; returned in cash to mem
bers. as savings, $11,917.05; dividends paid to underwrit
ers, $3,822.99; total cash disbursements, $98,015.81.
In connection with this report, see important article in
troducing this section.