PHILLIPS LEE GOLDSBOROUGH, GOVERNOR. 1079

years as shown in item (1) by the loss ratio ascertained as in
item (6) on all the policies written in the first five years of
the said ten-year period using as the divisor the sum of the
earned premiums shown in item (1) for such first five years,
and as the dividend the sum of the payments shown in item (2)
for such five years plus the sum of the charges in items (3),
(4) and (5) for such first five years, but the ratio to be used
shall in no event be less than fifty-three per centum at and
after December 31st, 1914, nor less than fifty-four per centum
at and after December 31st, 1915, nor less than fifty-five per
centum at and after December 31st, 1916. From the amount so
ascertained in each of the last five years of said ten-year period
deduct all payments made under policies written in the corre-
sponding year as shown in item (2), and the remainder in the
case of each year shall be deemed the indebtedness for that
year, provided, however, that if the remainder in the case of
any year of the first three years of the five years immediately
preceding the date as of which the statement is made shall be
less than the sum of the three following items for that year at
that date (a) the number of suits, except suits in which liability
is not dependent upon negligence of the insured, being defended
under policies written in that year and a charge of seven hun-
dred and fifty dollars for each suit, (b) the amount necessary
to pay for all deaths for which the insured are liable without
proof of negligence, covered by policies written in that year,
and (c) the present value of estimated unpaid claims on account
of non-fatal injuries for which the insured are liable without
proof of negligence, covered by policies written in that year,
then the sum of said items (a), (b) and (c) shall be the in-
debtedness for that year. A corporation which has been is-
suing such policies for a period of less than ten years shall
nevertheless include in its annual statement, a schedule as
hereinbefore required for the years in which it shall have issued
such policies, and shall be charged with an indebtedness de-
termined in the same manner, but in determining the indebted-
ness for policies written in the five years immediately preceding
the date as of which the statement is made, the minimum ratio
hereinbefore prescribed shall be used subject to the same deduc-
tions and provisions as in the case of corporations that have
been issuing such policies for ten years or more.

Thirteenth. The reserve for all other outstanding losses un-
der any and all other classes of casualty insurance policies and
under every character of bond and writing obligatory, exe-
cuted by such casualty or bonding insurance company, shall be