Litchfield enquirer. [volume] (Litchfield, Conn.) 1829-current, 1849-04-19


liberal in publishing my communications
to the company, l wish here. (by way OF
returning favors,) to introduce to the
the public short extract from one of the
letters received fiom the company
Hank !
"We allow our agents 81 on each pol
lev, viz, one dollar from the insured and
one from the cor pany. Hope it will be
an obit ct 10 attend to our business faith
fully. Fl. NEwcoMB GRAVES :.
Director and General Agent. -
Question 9Th and lastly. did you
receive any information ohotere' relative
to the standing of the Washington Com
pany, its rules, regulations, officers sal
aries, or agents fees, between the date OF
your regretJtH letter to the company OF
the 25th Of December, and your 6aa1g-
MATT expose of its iniguities'of the 9th OF
January, only ten days after ?"
No sir. Bat | was tolerably well Gin
formed" before, and since that time lam
still be4ter informed, which information
] have from undoubted sources, viz, from
Official Annual Reports of the company,
Circulars and Post Office Hand bills Of
their agefts, &c.
In speaking of the several reports,
circulars and handbills which have issued
from the Washington Company, and
from their General Agents in this State.
I wish to use all candor and fairness. l
would not knowingly misrepresent its af-
fairs or standing, neither would l be
guilty Of suffering those Reports, &C., to
be palmed off on an innocent and unsus-
pecting public as truths, when they, with
a single exception, bear upon their fronts
the most imposing deception. I am
aware the public will require something
more than my statement in the premises,
and l am fully able to crafty them in
this particular.
1st John G, North, General Agent
for Connecticut, says-"They have a
cash surplus of over $2s, 900; )" whereas
the Annual Report ofthe Company made
January 10, 1S49, claims only 81, 69l.
81, showing the small mista6e of more
than $l3 1900, or nearly one half, une-
quivocally stated by Mr.. North. If we
get hale the truth, we ought not to COM
plain.
Cd. In the Manifesto put forth by
Curtis L. North and other General A
gents on the first of March, in the Com
parative Statement of the Washington
and Hartford Companies as compiled
from their official Annual Reports we
have the following:
cash balance in favor of the Wash
ington Co., $l5,69l.3l,"-which shows
only $1,000 mistake, small compared
with his brothers statement above.
Again he says, -" Average amount OF
Premium Note $1O.10; cash premium,
1903" Whereas, by their own show
ing, they collect SO l-S per cent. on the
premium note, which would amount to
1892 IL; showing mistake of SO
l-2 on each risk, or in the aggregate of
$l2,625.31, which is within about 81, O0O
of their entire cash surplus Small
mistakes indeed!
Again he says, "Average amount Of
premium charges in the Hartford Co.
$4,000. Average cash premium "a. SO. u
Whereas the Hartford Company collect
only Ia per cent. on the premium
charge, which amounts to $2.13 Ia
Here Mr. North misrepresents the re-
ceipts of the Hartford to be 72 % cents
on each, or in the aggregate $l3,744.01
more than they are in fact. We think
these Misrepresentation need no COM
ment. A man with half an eye can see
they are calculated or desigred en- one
hand to advance the interests Of the
Washington Company or its officers and
agents at the expense Of the public, and
on the other, to injure one Of our own
well regulated Mutual Insurance Com
panies.
The Directors Of the Washington Co.
"feel confident of issuing about $4,000
policies during the fifth year, and of add
ing from twelve to fifteen thousand dol
lars to their present large cash fund"
Let us examine this little. By the
Report Of the Company issued ON the
18th day of May 1s4s, it appears:
Whole Rumber of policies issued, 2n,3O4
Whole amount of receipts (exclu-
sive of policy and application)$6 O,5l7 ~
Whole mount of losses and ex>
PeAses, 42,794 80
Balance in favor of the COMFY, l7,723 81
Deduct unpaid losses May 18th,
lB4S, $3.50 OO
Cash Surplus, IL SAB 81
BY the Report Of January LIST, ls49,
it appears:
Whole number of policies issued, 1886
Whole amount Of cash premi-
ums, $ll5,s62 Is
Whole amount of losses and ex-
penses, s7,S4l 81
Balance in favor of the Compa>
ny, January lst, lS49, 5000 If
Deduct unpaid losses, 1899 As
Cash surplus, 4.69l 81
Deduct cash surplus Of May Is,
ls4s, 1888 81
Increased cash fund on 1859
policies. 2,o47 so
ANY man who will conorarn tho two