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Evolution of the Surplus and Changing
Insurance Principles Applied to Investment
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26th inst Amory amount annual return average annual appreciation bond fund bond values Bonds and Stocks capital at risk cash dividends cent changes Commercial Paper Commodity Price Index commodity prices common stocks company to count conservative count upon realizing Dear Sir—I decline dollar Douglas earnings factors favor February February 9 fire insurance companies Graustark high-grade income increase Index industrial stock fund interest rates investment accomplishment Investment Experience Table Investment Policies investor January January 28 January 30 largest fire insurance long-term bonds loss market value measure ment opinion pany period policyholders practical preferred stocks principal value public utility purchasing power railroad stocks rate of interest reinvestment representative riskless rental rate riskless rental value safe securities and mortgages selling short-term bonds stock prices surplus tion total assets truly twenty types of investment types of securities Underwriting and Investment Underwriting premium value of capital vestment yield York