Evening Star Newspaper, March 29, 1929, Page 15

FINANCIAL. " FINANCIAL. TRADERS CHEERED BY EASIER CREDIT Sudden Drop in Money Rates Restores Confidence to Street. THE :EVENING STAR, WASHINGTON, D. C, FRIDAY, MARCH 29, 1929. MUSKRATS YIELD PROFIT. Missouri’s Initial Venture in This Field Shows Growth. GREENVILLE, Mo., (#)—Missourl's | first muskrat farmers, Frank and Ells- ||| $8.78 for 1928. Thus the $4 dividend is amply covered. During the past few years the finan- clal ition of the company has been greatly improved by plowing back earn- ings into the company, writing off in- tangible items on the balancg sheet and retiring bonds. The company, being well fortified with cash and current assets and having expanded production facilities to take care of increased busi- ness, is in a postion to pay larger re- turns to stockholders when ever it seems desirable. These two leading electrical manu- facturing stocks move closely together, as the chart shows. In the past the greater speculative attractiveness of General Electric has caused that stock to move over a wider range, Both stocks are affected by the general market swings and probably will con- tinue to be, even though they increase steadily in value as the industry grows. Unlike most industries which have their heyday and then settle down to a nor- mal growth, the electrical industry. will assist every new industrial developent and will thereby be promoting its own interests and prosperity. affected only temporarily as it has al- 'é'x: been, by general stock market con- S, Westinghouse Electric. Westinghouse, the second largest manufacturer of electrical equipment, has been expanding repidly into the foreign field in recent years. It has lately announced even more aggressive expansion plans along many different lines. ~Westinghouse, unlike General Electric, formerly avolded expansion into allied interests of the industry and concentrated on engineering work. Now, however, with Mellon interests becom- ing more actively identified with the company, it has announced many new Jrt250 | pians. The forerunner of this change in poliey is the trebling of the com- Il pany's newspaper advertising expendi- 1 '™ eral Electric was the tremendous bull move in the utility and radio stocks. General Electric’s manufacturing profits have shown a gradual rise for many years, averaging $5.74 for the past | six years and reaching $7.15 last year. Like many companies with very con- servative accounting methods, however, earnings do not tell the whole story. It has been estimated that from one to two dollars a share might be added to earnings if the extraordinary reserves were cut and less liberal cnarges for de- .National Mortgage and Investment Corporation Capital $3,000,000 This Corporation Offers For Sale Notes Secured by First Deed of Trust On District of Columbia Real Estate worth Barrow, have found the business | profitable. i Last August they fenced an acre of | ground, which included a lake, caught | @ few muskrats and started in. They have more. than a hundred head now. I Their fence was bullt of galvanized | steel, sunk 36 inches in the ground, | with' @ three-foot extension above a | barbed wire on top. ‘The muskrats have been fed potatoes, pond r‘lnnu, cabbage, celery, clams, crawfish and corn. BY KENNETH S. VAN STRUM. NEW YORK. March 29.—No matter which phase of Industry may develop next, it is a foregone conclusion that | ; electricity will continue to play an im-| Breciation were made. Moreover, in the ! | Company’s last report it is admitted iy development, 2| hat if the undistributed earnings of Radio, talking movie, railroad elec- 1et80t100s Lt R AR trification, airplane and marine devel- opments have become more and more dependent upon clectricity and electri- | fication methods. It is obvious, there- | fore, why the stocks of electrical man- ufacturing companies continue to in- crease in value more rapidly than| stocks of most companies, These notes are absolutely safe investments and are fully guaranteed by this corporation. Denominations as low as $250 6% Interest ture for next year. —_— Westinghouse also owns an interest in Radio Corporation and, together with General Electric manufacturers —'ml'hl,‘__» P GENERAL | apparatus for the Radio Corporation. H The company has always been aggres- ' General Electrie. f | ELECTRIC F150 The General Electric Co., the largest | I J l | . t.lm;gf,&:fsf: prp ?.fi':,‘é | . SPEARE. A Special Service Is Offered to Investors NEW YOR. left on its exten after the clos ? terday soothed vincing demon- stration of stren; in prices and signs that normal credit conditions were de- velopir ar as the day-to-day call loan marke concerncd Calm confidence seemed to have re. placed the hysteria produced by the sensational successive advances in money rates from a 9 per cent renewal figure at the beginning of the week to 20 per ¢*nt a day later, the dearest bor- Towing cost. in nine years. The strong pressure against the excessive use of | One of the most striking examples of eculative loar ich such a condition | this is the Electric Bond & Share Co., indicated brought about a drastic liqui- | which was segregated from General dation of all classes of securities and |Electric in 1924. Each holder of Gen- a situation very nearly resembling de- | eral Electric stock was given one share moralization in the new company for every share At the close of the trading week the held. This stock recently sold for $290 outstanding incident was a sudden re- ja share. Another advantageous invest- Jaxation of the money reins as banks ! ment has been Radio Corporation, whose came to the rescue. Funds which had |stock at current prices is worth about been difficult to borrow even at the |%'6 for every share of General Electric. prohibitive 20 per cent level, w | _The company has similar inve: freely offered and were obtained at 8 ments throughout the electrical indu per cent in the open markte. try, which, though valuable, are carried The fact that the recovery in the |On the books at very conservative fig- market started with the cost of capital | Ures. The market value of Radio alone higher than it has been since | exceeds the total of all investments listed. The speculative possibilities of y part of the industry undoubtedly a stimulus to the trading which tripled the price of the company’s stock within two years. An additional factor | which had an important effect on Gen- National Mortgage and Investment Corporation 1004 Vermont Ave. N.W. Main 5833 We Will Lend You Money In Any Amount At 51/2% Interest For Periods of 8,5 or 10 Years manufacturer and_distributor_of elec-| 757 |“| |'| Movies and. fhe transmissian of Dlo: Ollmil | trical appliances and machinery in the 5 ) it T e la e tures by radio. In the electrical in since its organization, 35 years ago. | Through subsidiaries in this country and through International General| | Electric abroad it does business all over {the world. Being a pioneer in the in- | dustry, the company had many excel- lent investment opportunities which have since proved most valuable. dustry as a whole, and with this com- pany in particular, there is always a possibility that the research depart- ment by producing an impartant in- vention may make substantial contri- butions to earnings. Because Westinghouse has not spread into other flelds so extensively as Gen- eral Electric it is somewhat easler to estimate the earnings of the company Reports show average earnings of $7 a share for the past five years, with Wil !—.I""\LEsTINGHousE v 1927 1928 75 DEED OF TRUST NOTES Purchased on Improved Property Located in the District of Columbia INTERNATIONAL FINANCE CORPORATION Room 800 Investment Building subsidiaries were taken into account, $1.62 a share would have been added to 1928 earnings. Thus General Elec- tric’s aetual earnings might be more nearly $10 a share than the $7.15 re- ported. The possibilities of future earn- ings are limited only by the future of the electrical industry ‘The company has been paying $4 in regular dividends and last year paid $2 in extras, making a total of $6. At current prices, this is a yield of only 25%. Since the company is thus pay- | ing out a large proportion of the $7.15 earnings dividends cannov e expected to rise substantially very soon. The company’s business will unquestionably continue to expand at a rapid pace, but | the price of the stock will probably be Money to Loan Secured by first deed of trust on real estat Prevailing interest and mission. Joseph I. Weller §: Wak. . & Ten e el o= [o[——n[——[o[——t [t hlc——e ] o “Ten Thousand People Can’t Be Wrong” fll a Dividend. ‘ ) Never Made an Assessment. Nearby Maryland, Virginia Investment and the District of Columbia Service Apartments,. Residences or Business Properties BOSSEMHELPS Founded 1907 1417 K St. Main 9300 Loan Correspondent John Hancock Mutual Life Money Available for FIRST DEED OF TRUST LOANS On Completed Properties and for Construction Use Reasonable Interest and Commission Rates JAMES F. SHEA 643 Louisiana Ave. N.W. GrLLeT & Co. BANKERS INVESTMENT BUILDING WASHINGTON, D.C. Telephone, Main 2460 showed that this alone will not s courage the public or the professional | S stock market trader from buying stocks { ¥ purely for money-making purposes. It must be borne in mind in the final analysis of the money strain that end- of-the-month settlements were a factor in maintaining rates at thelr high levels. However, it is reasonable to suppose that lower rates will prevail next week. CREDIT SITUATION | IS DECLARED SOUND Uncertainty over the credit situation and concern over brokers' loans are ap- parently being overemphasized, accord- | ing to Gage P. Wright, New York economist, in a review of authoritative opinion on the credit situation in the current issue of the Business Economic Digest “The credit situation in the minds of | many investors and speculators is as- suming an importance which is believed by many to be considerably out of pro- portion with its actual significance,” Mr. Wright state: “Many authorities emphasize the fact that there is a great deal of difference between high money rates and a scarci- ty of credit. It should be remembered that it is an actyal shortage of available credit rather than a high interest rate that indicates real danger to speculation in securities. “During the last major bear market in securities, experienced in 1920 and 1921, interest rates were high, but at that time there was also an actual | shortage of credit. Money was not available even at high rates and on the most liquid collateral. At present money is available for commercial purposes in | almost unlimited amounts at what may be considered fairly reasonable rates. Moreover, with one or two possible ex- ceptions, there are as yet no definite signs of speculation in the commodity market such as would indicate a gen- eral building up of inventories, thereby creating an actual shortage of credit. On the whole, therefore, it seems as though the uncertainty over the credit situation and concern over brokers’ loans are being overemphasized.” Mr. Wright points out that securities usually reach’ their peak during the phase of business prosperity called in- flation, and suggests that authoritative opinion will indicate a probable down- ‘ward movement in security prices only ‘when the authori find definite indi- Make Your If only a few people in Washington believed in Mutual insurance, the plan g . . P Y might not be worth while, but— s Dividends Upward of ten thousand—and the number is rapidly growing—have turned to us for real protection at a reasonable cost. : = Nearly $100,000 Paid in Dividends Through This Office in 1928 209 to 309 Saving on All Forms of Insurance _Will you save from twenty to thirty per cent of your fire, automobile, com- pensation, plate glass and other insurance cost? Call “The Mutual”’—Main 6690 THE MUTUAL INSURANCE AGENCY ALBERT R. PETERS, President CHAS. M. BOTELER, Secretary E. I. OAKES, Treasurer 1301 H Street N.-W. Life Adequate Reserves av.ni Surplus For Protection of Policyholders Plate Glass Claims Adjusted Promptly Through Our Own Office Fire ‘Automobile Compensation Windstorm Burglary STATEMENT STATEMENT OF THE CONDITION OF THE STATEMENT OF THE CONDITION TEMENT 10 TEMENT OF THE CONDITION oF THE The STATEMENT OF THE CONDITION L o ThE ComETEION CLG SF TRE °° OF THE cations of the development of a general period of business inflation. ‘The weighted average of authorities’ opinions in the current issue of the Business Economic Digest forecasts a continuation of the major upward move- ment which began in 1922. STATEMENT OF THE CONDITION o The Carolina Insurance go., of Wilmington, N. C the 31st day of December. 1928, as re- quired under the District of Columbis Code, ended June 30, 1902. and August 18, 1911, apital stock ....................$500.000.00 ‘apital stock, paid up. in ‘cash.. 500,000.00 Cash in bank . 32847531 Real estate . : 13.000.00 Tt . ormeesses STRMANE n ke . 1,433,910.00 170.929.38 21,971.12 ...32,208,408.93 and Premiums ' uince ands of agents . Interest due and acerued | Total assets .. $78.025 00 661.110.00 206,784.85 30.000.00 500,000 00 22.489.08 298.400.93 e as required ance premiums ........ Balaries, rents, expenses, taxes, Capital All othe Total 1i Character of busi; the year 1928: Fire of insurance Amount of risk_sssu ing ihe year 1928 Losses susiained du year 1928 Money r dui year 1928 Expended 1928 ... nsacted during nd its allied branches 1,616,362.00 257,504.38 £801,812.07 : 581.966.15 C. A _LUDLUM. Vice President W. WYATT. Secretary Subscribed un 1th day of Fe (Seal) eived during the City of New York Insurance Co., of New York st dav of December. , 1992, and August 18, 1911 g £1.000.000 00 | cash. 1,000,020.00 189601 56.500.00 nd Interest d All othe: reinsu Tote asset LIABILITIES Reinsuranc Balaries etc. Comm Cesh divid Capital All r 102,500 00 %.500.00 4.000.00 1.000.000.00 “rage. eic remaining unpaid Béserie for 00.000 60 2.542,632.92 ansacted during ghtning. windstorm, ana sprinkler leakeage. nce warranted 295,763.096 00 1.494,266.40 3.460.103.80 the " yeur 2.947.448.00 BURKE, Vice President. retary sworn uary. 1020 FRANK C to before me this OHNSON, Notars Public, Noters Public Bronx Co. Clks No. 32, New York Co. Clk's No. 114, New York Co. Reg. No_ 0-91 My commisison expires March 30, 199 ee——ule—— Aol [l N[ ale——— o[ [0 [n[ee———[o| e[| EEEE@EEEEEEEEEEEEEE?EH Cash in office Cash in bank Real estate .... Real estaf Premiums uncollected and in bands of agents . i, Interest due and accrued ... All other assets .. Total assets Net unpaid claims Reserve as required by law. . Salaries, taxes Saes din Commissions, brokerage, etc. All other liabilities . . Surplus Total liabilities Character of busines: ing the year 1928: Fire, nado and sprinkler leakage. Amount of risk assumed during the year 1928.. Losses the year 1928 ... Money received during the vear 1923 s : Expended 1928 .. STATEMENT OF THE CONDITION OF THE, Retail Hardware Mutual Fire Insurance Company of Minneapolis, Minnesota On the 31st day of December, 1928, as required under the District of Columbia Gode, amended June 30, 1902, and August Cash in office.... Cash In bank Real estate . Stocks VRIE) L s Premiums uncoliecied and in hands of agents Interest due ane All_other assets: Due from reinsurance com- DRASER o 3 Total assets Net unpaid claim § Reinsurance premiums Salarie: paid P Al other liabilities Employes’ pensi 5 Guiranty fund and surplus, 2,140,268.69 tornado, theft Amount’ of during the vear 1928 Losses ) year 1928 : Money vear 1928 : Expended during ‘the 5 T. G. MCCRACKEN, Secretary. Bibscribed and sworn to before me this §16th day of Pebruary. 1920, (Senl.) ¥ Notary Public, Hennepin Cotinty, Minn. My commission expires Jan. 31at, 1931, Mill Owners’ Mutual Fire Insurance Company of lowa On the 31st day of December, 1928. as reauired under the District of Columbia, Code, amended June 30, 1902, and Aur { gust 18, 1911, the 31st day of December, o'l,lr?fl under the District of Columbia 18, 1911, Insurance Company of Mansfield, Ohio 1928, as smended June 30, 1902, and August Cavital stock—Mutual company. Capital stock, paid up, in cash—Mutual $170.15 102,254.93 452,864.58 Cash mortgages (first siaselen Cash market i ... 1311,440.00 231,579.76 100,962.05 31,408.14 L 32,043,336.25 company. Real estate Interest due and ncerued All other assets—Reinsurance recoverable on losses paid Reinsuranc As . in omee.. A3STS in bank state’ mortgages (st ‘and (market t 1,349,659.50 in 163,603.07 26.569.69 5,392.57 ents. . recoverable adjusting expenses pald LIABILITIES. $84,916.06 1,222,552.68 49.382.00 25,939.12 121,563.66 . 1,338,982.73 rents, expenses, ete. .. i e for. +..32.843,336.35 Surplus Rolders. Total assets LIABILITIE: Net unpaid elaims ......... Reserve as reauired by law Salaries, taxes. Commiss Cavital stoc panv. All_other Iliahilities—Reserve rents, L, Yo ons, broksrage, etc —Mutual ' com- expenses, 38.100.00 12,700.00 contingencies ... as " regards’ policy includine nerma- 40,000.00 nent fund of $200.000..... 1.024.879.39 transacted dur- lightning. tor- indstorm, motor vehicle, £284,718,398.00 720,274.18 2.169,116.50 sustained during during the year +Shiie e s it OTRSPR) J. T. SHARP. President. H. B. CARSON. Secretary. Subceribed and sworn to before this 315t day of January. 1929 (Seal.) me JOHN B. WISE, Notary Pubiic. ASSET: ¥ 3$25.00 Cash 206.147.44 Cash 306.596.50 R 3.320.918.90 466,150 61 60.335.39 and “bonds (market accried 1.524 67 180.00 RCTRTIR T LIABILITIES, . 3167.00800 . 2.050,196.30 58.580.00 000,00 . 643060 10,403.82 rents, ns, brokerage, eic vidends remaining un expense: ‘ eic. ) fund labilities .. 34.441.887.50 of business transacted dur- ar 1928 Fire, motor vehicle, Fisk assumed $341,806,367.00 tained during ihe ! 883.003.36 3,445,750.99 2.822.627.94 R. President. ing received during the 'CHAS. F.LADNI LEN H, HIRTH, Total Mabilities . Cha; ing the vi moblle. tornado, use and Amount ot uring the ‘vear 192 Losses s vear Money w.H. Siibseribed 18th day of Februarv. 19°0 (Seal.) 1 estate. . Prominms A ther S amat ‘other assots: Fifn . ation deposit. Relnstrance paid ard unpaid losses Total assets Net unpaid claims, ... o Reserve as required by Taw Aries. rents, expenses, taxes, paid. ... > ALl other " Tiabiljties due or accried ............ Estimated expenses of 'adjust- ment of unpaid losses. . Total Nabilitie: Cuaracter of business tran: ing the year 1928: Fire. autom nedo, Amount of risk a: 1 Losses sustained during the vear 1928 % ey BN Expended during ' the 'vear 1928 ... +...32,409.788.71 eter of business transacted dur- ar 1028—Fire. lightning, auto- sprinkler leakage and ene 3055 % 000.820.24 wined during the T oe 24400 680.280.88 1,988.149.67 - NiiL, oGk .. President, REGG. Secretary. and sworn ‘o hefore me this HARRY V. HENNIS. Notary Public. H.G STATEMENT OF THE CONDITION SF THE Fitchburg Mutual Fire Insurance Company of Fitchburg, Massachusetts On the 31st dav of Dscember, 1928, as regnired under the Distriet of Columbin % jymended June 30, 1902, and August in office. 52,1730 in bank 7 has 26.008 84 i *: 130.000.00 bonds " (market iiie aeoiv:. 636,056.00 oliected” and in cents i B4RTRTY e and aceried 1. 8.345.08 Philadeiphia Underwriters' Associ- and 100.00 1.808.02 ..9858.966.47 recoverable " ‘on TTABILITIES. $35. 429 10,983.12 6.255.74 remainis Tnterest obile, tor- nd fprinkler leakage umed dur-, $4.541.562.00 225,088.41 742.358.55 620.756.33 ""LINCOLN 'R. WELCH. President. earthquake the vear 1 received ' during the Bubseribed and sworn to before me this 18th day of Pebruary, 1920, (Beal.) MINNIE M. TOWNSEND. | Notary Pul THE ?ONDY"XON OF Lumbermen’s Mutual ; Mutual Fire Insurance Company of Montgomery County, Maryland On the 3ist day of December, 1928. as required under the District of Columbia Code. amended June 30, 1902, and Au- gust 18, 1911, Cash in bank Real estate . .. 10,000.00 Stocks and bonds (market value) ..., ... 894,881.00 Premiu neollected and in hands of agents 2 Interest due and accrued .... . $18,309.79 10,777.19 14,592.08 Total assets +....3048,560.06 LIABILITIES, Net unpaid claims Reserve as required by law. Salaries, ~rents, expenses, taxes, ete. £ Surplus as holders . $15,075.17 94,444.58 160.00 regards policy- “iu....$838.880.31 Total liabilities . . ..3948,560.06 Character of business transacted dur- ing the year 1928: Fire and lightning in- surance ‘on the mutual plan. Amount of risk assumed during the year 1928....$35,830,228.00 Losses sustained during the yer 1928 ..... B Money received during the year 1928 . o 70,074.02 213,303.35 119.721.79 F. D. LEIZEAR, President. ALLAN FARQUHAR. Secretary. Subscribed and sworn to before me thi 13th day of February, 1929. = (Seal.) J. J. SUOEMAKER, Notary Public. STATEMENT OF THE CONDITION OF THE Millers’ Mutual Fire Insurance Ass'n of Illinois of Alton, Ills. On the 31st day of December, 1928, as reanired under the District ‘of Columbia Code, amended June 30, 1902, and August 18, 1911, ASSETS, Cash in office Cash in_bank Real estate . Stocks and value ........ Premiums "uncolie hands of agents. 2 Interest due and accried. All other assets. . Total assets . $75.00 93,722.71 95.705.52 1.543,798.00 100.873.08 22,035.96 2329.34 £1,068,536.61 “bonds’ " (market LIABILITIES. Net unpaid claims. .. $55.289.75 Reserve as reauired b: 743,231.99 28.000.00 Surplus . Total labilitles . Character of business transacted dur- ing the year 1928: Mutual, fire, tornado, hall, sprinkler leakage and earthquake. Amount ~ of risk assumed during the year 1928......$36,201.835.00 Losses sustained during the vear 1928 .. 522,716.25 Money received during th year 1928 ....... 1,547,680.32 Expended during the year 1928 . .. 1.454,439.69 H. B. SPARKS, President. G. A. MCKINNEY, Secretary. Subscribed and sworn to before me this 4th day of Pebruary, 1929, (8eal) HENRY,, HARMS, otary Public. | Canital stock... Cash In office.. Cash in bank,’ Stocks Tn‘erest due and accried All other assets: Dividends, Net R Salaries, Commissions. b Cash dividends Capital steck. anarantv sfock All other liabilities: Surplus. . Losses this On the 31st day of December, required under the District of Code, amended June 30, 1902, sust 18, 1911, Cash in office .. Cash in bank "\ Real estate mor| Ali other assets . Net unpaid claims . Reserve as required by la Reinsurance premiums Salarles, rent: Losses Money United Mutual Fire Insurance Company of Boston, Mass. On the Sist dav of December, 1928. as requi Code. 18, 1911, under the District of Columbia mended June 30, 1902, and August . 100,000 09 paid c ¢ 100,000.00 2455 00 194,607.7: t 2.129.205.00 a8 32.08 and bonds value) Premiums incoliect hands of agents. Reinsurance recoverable .. ... 320974.35 due " "from other companies on reinsurance ceded .. - el i 2.685.11 Total assets. 32,501,858.56 { LIABILITIES. unpald elaims.. ... $116500.84 erve as reauired by Taw. 1,101,985.53 rents, etc 48.353.22 7,000.00 100.000.00 100,000.00 1,029.928.97 expenses. taxes. ey rage. etc. remaining un- Total _liabilities and guaranty capital...... Cheracter of husiness transacted dr- ing the year 1928: Fire, motor vehicles. tornado, ‘sprinkier leakase, inland navi- ration. Amount of risk assume d durirg the year 1928.....217.626.660.00 sustained durin the year 1928... = 523,956.39 1,851,095.31 Money' received durin vear 1928 . E ixpended during the year 1928 .. s 1.467.168.64 A. ‘W CAMPRELL. Vice President. 0. E. RINGQUIST, Secretary. Subscribed and sworn to before me 1st day of February, 1929. FRANK C. ROHDE. (Seal.) Notary Public. STATEMENT OF THE CONDITION OF THE National Retailers’ Mutual Insurance Company of Chicago, Illinois 1928, as Columbia and Au- ASSETS. ., S0 75.313.74 st ..o 57,500.00 imarket - 468,050.00 130.776.48 5.843 41 12,502.30 Total assets . ..$750,537.06 LIABILITIES. £32.022.45 373.344 26 ey, 004842 e 14.250.00 All other liubilities Total liabilities . ed during the vear 1928 ...$138,548.800.00 sustained ~ during the year 1928 ... . 22261073 during received . 689,012.12 640 437.35 ! 'G.' KEMPER. Vice President. GHASE M. SMITH. Secretary. ubscribed and sworn to before me this 1at day of January. 1929, (Beal.) F. W. LOBINGIER, Publi Not: My commission expires Jan Hardware Dealers’ Mutual Fire Insurance Company. of Stevens Point, Wisconsin On the 31st day of December. 1928. as required under the District of Columbia Code, emended June 30, 1902, and Ausust ASSETS. Cash in office.... Cash in bank... Real estate . 2 Stocks and ~bonds value).. e Bills receivabie Premiums_uncoll bands of agents. Interest due and accrued.... 31,688.89 All other assets: Due from relnsuring companies. ..... 719.27 ..33.586,146.66 £50.00 230.882.80 376.063.49 2.496.720.00 16619 (market 449.856.02 Total assets LIABILITIES. Net unpaid claims. . Reserve for adjus! pense Reinsur; Salaries, rents taxes, ete..... .l 5850331 Commissions, ‘brokerage. ‘etc. - 7.882.35 Cash dividends remaining un- aid 5.908.70 All other liabilities: Surpius. 1.201.173.80 Total liabilities. 33.586.146.66 Character of business transacted dur- ing the year 1028: Fire, motor vehicle. sprinkler leakage and tornedo, on the mutual plan. Amount ~ of “risk assumed during the year 1928.. . ..$395,426,606.00 Losses sustained during ‘the 964,007.84 year 1928... o Money receive the 3.608,945.47 3.036.967.14 vear 1928.. 7 Expended during the year 1928. e ©. P! 'SCHLAFER. President. $151,207.24 3.569.10 2,158,162.16 expenses, P. J. JACOBS, Secretary. Subscribed and sworn to before me this 26th of February, 1929. (Seal.) NELLIE LEAHY. Notary Pubils. oMy commission expires January 13, STATEMENT OF THE CONDITION OF THE Ohio Underwriters Mutual Insurance Company of " Van Wert, Ohio On the 3ist day of December, 1028. as required under the District of 'Columbia Code, amended June 30, 1902, and Au- gust 18, 1911, ASSETS. $656.90 13.329.04 14,500.00 372,200.00 52.223.76 332 Cash in office Cash in bank ...... 01 Real estate mortgages lien) .. s = Stocks ‘and (market value) ... = v Premiums uncollected and hands of agents .. Interest due and accrued ifirst Total assets . LIABILITIES. Net unpaid claims . . Reserve as required by Ia Bularies. Tents. expenses. taxes. Commissions,” brokerage, etc. Total liabilities Character of business transacted dur- ing the year 1928: Fire, tornado. motor vehiele (including fre. theft, collision and property damage, but not injury to person). Amount of risk assumed during the year 19 Losses sus d the vesr 1928 $1.388,194.00 crosssuaey TIRTIRTY Money received during the year 1928 ... L. 995.891.26 Expended during the year 1928 378.444.26 G. A. BERGER. Vice President. ARTHUR KISSEL, Asst. Secretary. Subscribed and_sworn to before me this 12th day of February, 1929. WM. McGIRR. Notary Public. Grain Dealers’ National Mutual Fire Insurance Company of Indianapolis, Ind. On the 3ist dav of December. 1928. as required under the District of Columbii Cofe, smended June 30. 1902, and Au- qust 18, 1911. $95,244.96 70.579.35 cererss TILTONSS Stocks (market value - 1,501,578.75 Premiums uncollected and in hands of agents . . Interest due and accrued ... Cash in bank Real estate Real estat, lien) 98.341.19 41.807.49 Total assels .... $2,529,289.27 LIABILITIES. et unpald claims .......... Reserve as required by law Salaries, rents, taxes. etc. . Commissions. All other liab, gent surpius . -Total Labilities . $1,250,732.34 Character of business transayd dur- ing thevege 078! Fire indurante. moun risk assumed Quring the year 1976....$207.122.501.00 ustained dusing the Losass figigined dumnz ¢ sesg0rar Morey recelved during the Mowar fessl. ", Le1s13L4 xoan ing the year Ebeatcd during the YAT isssisze CHARLES §. CLARK. Vice President. J. J. FITZGERALD. Secretary. Subscribed and sworn to before me this 21t day of February, 1929. (Seal.) F. STATEMENT OF THE CONDITION The Mutual Fire Insurance Company in Harford County On the 3ist day of December, 1928, as required under the District of Columbia Code. amended June 30, 1902, and August 18.1911. ASSETS. Cash in office.. Cash in bank Real estate . Stocks _and value) g Bills receivable. .. Premiums uncollected” ‘and 'in hands of agents Interest due and accrue All other_ nssets Collaterz1 loans ... Fire extinguishers $200.00 51,191.79 25,000.00 350.012.50 6,410.53 37.528 58 6.496.28 40.000 00 Total assets .. LIABILITIES. Net unpaid claims. ... Reserve as required by 1a Salaries. rents, expenses, taxes 048 vo0eot AR other iiabiltii Total liabilities . Character of business transacted dur- ing the year 1928: General fire, lightning. automobile and windstorm. Amount of risk assumed dur- L JIE the vear 1628, .. ... $74.260,823.00, st uring ‘the osses sustainee ring i year 1928 ... CiGras Money received during the 386,450.51 347.499.71 L e Expended ~ during the " year RICHARD 'DALLAM. 'President. WALTER B. YOUNG. Secretary. Subscribed and sworn to before me this 29th day of January, 1929. (Seal.) ANNIE H. CAIRNES, 22,910.72 73.363 43 + ‘Surpius.