Newspaper Page Text
Cash belonging to ttye Company deposited in
B ank 119,093 79
Interest due and accrued on Bonds not included
in "market value". 2,671 49
Gross Premiums (as written in the policies) in
course of collection, not more than 3 months due 223,911 04
All other property belonging to the
Co., viz: Rents due and accrued. . $3,431 07
Due from other Companies for Rein
surance on losses already paid 954 12
4,385 88
Aggregate Amount of all Assets of the Company,
stated at their Actual Value....; $2,788,741 04
111. LIABILITIES.
Gross Claims for adjusted and unpaid
Losses due and to become due $ 61,357 31
Gross Losses in process of adjustment,
or in suspense, including all reported
and supposed Losses 77,714 74
Losses resisted, including interest,
costs and other expenses thereon.... 10,285 71
Total gross amount of claims for 1055e55149,357 76
Deduct Reinsurance thereon 16,524 64
Net amount of Unpaid Losses. . . $132,833 12
Gross Premiums received and receiv
able upon all unexpired Fire risks,
running one year or less from date of
policy, including interest premiums
on perpetual Fire risks. $988,981.68;
Unearned premiums (Fifty) per cent)... 5494,490 84
Gross Premiums received and receiv
able upon all unexpired Fire risks,
running more than one year from
date of policy, $1,410,886.08; Un
earned premiums (pro rata). 748,138 04
Total Unearned Premiums as com
puted above.. $1,242,628 88
All other demands against the company, absolute
and contingent, due and to become due, admit
ted and contested, viz: Commissions, brokerage,
and other charges due and to become due to
agents and brokers, on premiums paid and in
course of collection, $37,007; Reinsurance, $4.
--465.25, Reserve for contingent liability, $10 ',000 $141,472 25
Total amount of all Liabilities, except Capital
Stock and Net Surplus $ 1,516.964 25
Joint-stock Capital actually paid up in cash 500,000 00
Surplus beyond Capital and all other Liabilities. 771,776 79
Aggregate amount of all Liabilities, including
paid up Capital Stock, and Net Surplus $ 2,788,741 04
I
IV. RECEIPTS DURING THE YEAR
Fire.
Gross Premiums and Bills unpaid at
close of last year $ 254,382 38
Net collected 254,382 38
Gross Premiums on risks written and
renewed during the year 1,942,247 85
Total 2,196,630 23
Deduct Gross Premiums and bills in
course of collection at this date . 223,911 04
Entire Premiums collected during the
year 1,972.719 19
Deduct Reinsurance, Rebate, Abate
ment, and Return Premiums 4"0,460 05
Net cash actually received for Premiums (car
ried out) 1.502,259 14
Received for interest on mortgages. 13,463 89
Received for interest and dividends on stocks and
bonds, collateral loans, and from all other
sources ' 49,551 19
Income received from all other sources, viz: Rents 17,202 19
Aggregate amount of Receipts actually received
during the year in Cash .$ 1,582,476 41
V. DISBURSEMENTS DURING THE YEAR.
Fire.
Gross amount actually paid for Loss
es (including Losses occurring in
previous years) $ 980,801 65
Deduct all amounts actually received
for Salvage (whether on losses of
the last or of previous years), and
all amounts actually received for
Reinsurance, in other Companies.
Total deduction 134,324 54
Net amount paid during the year for Losses $ 846,477 11
Cash Dividends actually paid Stockholders (am't
of Stockholders' dividends declared during the
year, »50,000) 49,970 00
Paid for Commission or Brokerage 292,726 22
Paid for Salaries, Fees, and all other charges of
officers, clerks, agents, and all other employees 159,944 63
Paid for State and Local Taxes in this and other
States 42,869 05
All other payments' and Expenditures 134,033 35
Internal Revenue Tax 4,656 86
Aggregate Amount of Actual Disbursements dur
ing the year, in Cash $ 1,530,677 22
BUSINESS IN THE STATE OF VIRGINIA DURING THE
YEAR.
Fire.
Risks written $870,147 00
Premiums received (gross) 12,607 30
Losses paid 9,580 14
Losses incurred 8,580 18
(Signed) HAROLD HERRICK, President.
(Signed) GEO. W. DEWEY, Secretary.
State of New York, City of New York —ss:
Sworn to January 28, 1899, before
I Seal |
{ of THOS. MOON, Notary Public.
(Notary. J
(Published by authority of the Auditor of Public Accounts of the State
of Virginia.)
ANNUAL STATEMENT FOR THE YEAR ENDING DECEMBER 31,
1898, OF THB CONDITION AND AFFAIRS OF THB UNITED
STATES BRANCH OF THB CALEDONIAN INSURANCE COM
PANY OF EDINBURGH, ORGANIZED UNDER THE LAWS OF
THE KINGDOM OF GREAT BRITAIN AND IRELAND, MADK
TO THB AUDITOR OF PUBLIC ACCOUNTS.
U. S. Manager, Chas. H. Post; Ass't Manager, N. A. McNeil.
Principal Office in the U. S., 27-29 Pine St., New York City.
General Agent in Virginia, Virginia Trust Company ; resi
dence, Richmond, Va,
Organized or incorporated, A. D., 1805; commenced business
in the U. S„ September, 1890.
I. CAPITAL.
Amount of capital stock subscribed $2,687,500 00
Amount of capital stock paid up in cash 537,500 00
Amount of capital stock unpaid 2,150,000 00
11. ASSETS.
Account of Bonds of the United States, and of this
State and of other States, and also of Bonds of
Incorporated Cities in this State, and of all other
Bonds nnd Stocks, owned absolutely by the Co.
Market
Par Value. Value
U. S. Government Bonds,
Reg. 4 per cent. 1907 $300,000 $336,000
New York City Gold Bonds
3)4 per cent. 1922 125,000 136.250
New York City Gold Bonds
3)4 per cent. 1928. 100,000 109,350
Central R. R. of New Jersey
General Mortgage Gold
Bonds, 5 per cent. 1987.. 110,000 123,200
Balto. & O. Reorganization
Certificate for First Mort-
Gold Bonds, when issued,
4 per cent, 1948 100,000 99,000
Perm. & N. Y. Canal & R.
R. Co.'s Consol. Mortg'e
Bonds, 4 per cent. 1939.. 100,000 91,000
N. Y„ C.& St. L.R.R. Co.'s
First Mortg. Gold Bonds
4 per cent. 1937 60,000 63.000
