Pan&etsi Se ^UPPtvsi M^nvmtt Compani^

20TH    ANNUAL   STATEMENT
December   31,    1937
 

ASSETS
U. S. Government Bonds............$1,862,660.97

All Other Bonds..........................     621,664.63

Stocks—

Preferred and Common............ 2,806,035.00
 

Premiums in Course of

Collection    not    over    three

months due ..............................     521,466.29
 

Accrued Interest and

Other Items ............................       18,632.37

Cash   ............................................     572,354.75
 

LIABILITIES

Reserve for

Unearned Premiums................$3,303,633.78

Reserve for

Outstanding Losses ................     323,009.00

Reserve for Taxes and

All Other Liabilities................     151,032.54
 

Contingency Reserve,

representing difTerence between
total values carried in assets for
all bonds and stocks owned and
total values based on December
31, 1937 market quotations............
 

42,213.60
 

Capital ..................$1,000,000.00

Net Surplus .......... 1,582,925.09
 

Surplus to

Policy-holders .......................... 2,582,925.09
 

$6,402,814.01
 

$6,402,814.01
 

Bonds and Stocks valued on basis fixed by the New York Insurance Department.
Securities carried at $345,122.10 in this statement are deposited as required by law.