AChievement -,and a llless age!

A Plain Statement Assets

Carh ia Oficc and Bankr

Sccuriticr

These securities consist of U. S. Government, state and mrliricipal bonds and other securities of the highest grade.

Prcmiumr in Courre of Collcction

All accounts over 90 days old are excluded, This repre- sents a normal amount of live current accountsequalling oaly about 35 days' gross premiums.

Mirccllaaour Aretr

Consisting of interest accrued on boads; amountsduefrom other insurance companies, etc.

Totrl Admittcd Arctr Bclonging to Policyholdcrr

From theseassets we have excluded atl furniture aad 6xtures, automobiles, printing plant, supplies, premium accounts over 90 days old, and all other assets not quickly convertible into cash.

Liabiuties

hcrc*vc for Louer in Proccr of Adjurtrncnt

Rcrcrrc for Uncarncd Prcmiumr

This reserve is the full unearned portion of the premium hetd for the paymelt of any luture losses on policies ia rorce.

Rcrencr for Fundr hcld uadcr Rcinrurrncc Agrlc- Dantr

Rcrcrvc to Covcr all Othcr Liabiliticr

Thir is a reserve to cover taxes accrued, dividends eccrued.on expired policies anil all other cunent liabilities, otber than .losses.

Nct Cerh Surlrlur

This being the net resetYes as aoove.

Increase made in Admitted Assets during 1923 ....t rue72 made in Surplus for_ Payment of Future Losses during ly8 made in Net Cash_Sgrplus, 4uring 1923

The Northwestetl Mutual Fire Arsociation achowledger a higher and broadcr miuion then thc rimple ftrnbhing of sound inrurance indernnity at coct. Ib misrion ir the conrenation of property from lolr by fir+a terrific and ever-increaring economic wa.rtage otr rtafi ir at the senice of property ownerr interested in CONSTRUCTM inrurance-irurnce that reekr to prevent lorer ar well ar to pay-for them. A telephone call or poctal witl bring ur together.