As shown in the foregoing financial statement, the company's net surplus at December 31, 1918, was $131,742.68, as against $177,724.42 appearing as such in its annual statement. An analysis of the difference is as follows: The income and disbursements from January 1, 1918, to January 31, 1919, covering a period of thirteen months, and the assets and liabilities on January 31, 1919, are as follows: History and Organization The Seneca Fire Insurance Company of Buffalo, N. Y., was authorized and commenced business in 1914 with a paid-in capital of $200,000. Its operations have been principally upon a general agency plan. In 1918 control of the company passed to James J. Boland Company, Inc., a corporation organized under the laws of Delaware, with offices located at Scranton, Pa. This corpora tion was, on August 30, 1918, appointed sole general agent of the company. With the exception of stock certificate and minute books all records of the company were removed to Scranton, Pa. Directors' meetings are held at Buffalo, N. Y., where the company's securities are also kept. SPANISH AMERICAN UNION INSURANCE COMPANY -UNITED STATES BRANCH HAVANA, CUBA Examined on admission as fire company. Report dated November 4, 1918. Examiner: Richard A. Elmer. THE SUFFOLK COUNTY MUTUAL INSURANCE COMPANY SOUTHOLD, N. Y. Examined to ascertain condition June 30, 1918. Report dated October 9, 1918. Examiner: William H. Derrick. The financial condition of the company on June 30, 1918, the date of this examination, was found to have been as shown in the following statement: Bonds and mortgages Ledger Assets $73, 700 00 The company owns forty-five mortgages on property located in Suffolk county, New York, of which forty-four are first liens and one a second lien, on property on which the first lien is held by the company. The papers in connection with the loans, with the exception of those of loan 94, which were in the possession of the company's attorney, were examined. As the real estate mortgaged is believed to sufficiently secure the loans, no appraisals have been made. Agents' balances: The balances due from agents, in an amount of $943.98, were |