Pankersi Sc ^flippers; 3ns(urance Company

23rd   annual   STATEMENT
December   31,    1940
 

ADMITTED ASSETS

U. S. Government Bonds..............$2,064,191.74

Ail Other Boncds............................     388,708.67

Stocks—
Preferred and Common............ 3,024,375.00

Premiums in Course of

Collection    not    over    three

months due ..............................     633,178.19

Accrued Interest and

Other Items..............................       34,926.78

Cash in Banks and Office.............. 1,022,689.47
 

LIABILITIES

Reserve for

Unearned Premiums ................$3,875,638.19

Reserve for

Outstanding Losses..................     355,556.00

Reserve for Taxes and

All Other Liabilities..................     155,456.00

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

Net Surplus .......... 1,781,419.66
 

Surplus to

Policy-holders .......................... 2,781,419.66
 

$7,168,069.85
 

$7,168,069.85
 

Bonds and Stocks valued on basis fixed by the New York Insurance Department.

Securities carried at $349,597.60 in this statement are deposited as required by law.
On the basis of December 31, 1940 market quotations for all bonds and stocks owned, this Company's total
admitted  assets would  be  increased  to  $7,209,335.44  and  the  surplus  to  policy-holders  would  be  increased  to
$2,822,685.25.