Litchfield enquirer. [volume] (Litchfield, Conn.) 1829-current, 1859-10-06
s40,sGO.21 s121, 69O.59 s9,lO4, ASS

| Of the amount Of Cash received for
There has been paid for
| losses and expenses to
| Cus siiAe $3I .l2S,15
For Dividend of 10 per cent.
! paid On year, renewals 34712-S31 Az AZ
Which deducted from the Cash receipts
ieafeS ..................,.$ 17 2A "a
Amount received for inter-
est on loans last year 81 O10 10
Due from Agents and Cash
deposited ............. 3,25S 80 S4,3O062
Cash Funds. ......................s 2l ,ss4ss
VI the amount charged on the books s12l COG. SO
| there has been cancelled o. $40 81
~, Balance; .......................s 26, 15s.71
"h,cn' WIN the Cash funds .......... q, 684 96
And money loaned as above,
Makes an available Capital Of 81, s44.67
RECEIPTS AND EXPENDITURES FOR THE YEAR 1858 50:
| Received for premiums, deducting divi-
denu .............,,,,..S42 Q1 OS
Received for interest loans last year 1,O42 10
s., 1885
Deduct Losses and Expenses. ............ 2,72sOS
Balance resulting to Fund. .s2.71O.22
Of the Property insured So. 1O4 lSS
There has been surrendered, mostly by
eApn"uoh Vi pohcy ................ 81, 569, 164
Remaining still insured. 81, 585, 8z4
| The Company have no unpaid losses nor claims Of
any kind against them
They have never made an assessment and during
the past year, have paid dividend Of 10 per
cent on their renewal of policies of insurance whish
tney VIII continue through the present year, and
probably for tie future
They have bylaw which prevents the assuring
OF any risk, which, in any contingency, involves
| the loss OF more than $1,000 Of pruperty H.nca
there can be no apprehension of any future assess
mcnt. The funds of the Company are loaned ON
bohds and and other securities where they
can lie made available at any time.
For the prevention of fraud and as a protection
against over insurance, the Company pay thym-
ourhs of the cash value of buildings which Is usu,
ally, (deducting the foundation) the full value of
the properly destroyedand ALSO the full cash VAL
ue OF all partial losses buildings and on all
personal property contained therein within amount
OF the insurance. The Company have inserted in
their "stereotyped policy provision, by which,
III any case vi disagreement i'll relation to the loss
or damage sustained by the insured the questions
arising therein shall be submitted to three judiciouS
and dIslnterestcd persons arbitratOrs selected in
the usual way by both parties or if either party
neglects to appoint it shall be the duty Of the Judge
of Probate qualified to act to make such appoint
uA0
shall be final This has been found a just prompt,
and very satisfactory method of adjusting all claims
of doubtful character avoids all litigation and 10
not expensive. The financial affairs OF the Compa-
ny have been managed with the most rigid ecOno-
my. The expenses have been mostly for renewal
of policies and the compensation to agents. mot ex-
ceeding 10 per cent? The incidental expenses Of
rent, postage, and other services have not exceed
ed seventy dollars per annum The history Of the
Company exhibits the fact, that strength and emf
ncnt responsibility necessary to render COmpa-
ny prosperous, and give it the full confidence OF the
public. Under the Five Years System, the Compa-
ny barely existed with cash surplus but under
the present System, and for the last ten years, it
has not expended 40 per cent of its annual cash
ceipts, and has become one of the strongest Compa
mics in the State. Other mutual Companies charge
from 5 to 10 per cent on the property insured, on
which they receive per cent in cash, and the bal
ance in notes-presenting large amount in notes
as capital. Our Company have contented Themselves
with charging only the amount usually charged By
Stock Companies, and have not made the insured
responsible for more than they would have paid in
cash, in annual insurance. To estimate, therefore,
correctly, the benefits which have resulted to the
insured On the mutual principle, we have only 10
add the cancelled and unCancclled premiums char
ged ON the books of the Company with the cash re-
ceived-making an aggregate OF Sic, $50 &c. De.
Quoting the losses and expenses, 1881 1850 and
the balance, S139 .O5. has been saved-thus t.
king as an example, detached risk, at 40 cents on
500, less than one-iftn of the premiums has besn
matchmaking the insurance cost less IMAM o GNU
on that sum for each year.
The Financial Summary of the operations
and condition of the Company after twenty-six
years Of experience, are the best arguments whieh
can be adduced in favor of the System Of Mutual
Insurance and should satisfy the most incredulous
that it is both profitable and reliable, when Judi
ce,sly managed, and at the same Time sustains tbe
eminent responsibility of the Company, It's elaiEs
to public confidence, and its adaptation to the 'iI
cu1nstances of community, for such risks as
be legitmately assumed by the Company.
In behalf of the Directors, J. G. BEcKwI1H, IT. -.
OFFICERS OF THE COMPANY FOR 1S59-60.--J.-u.
Beckwith, President; ]. Whiting Secretary e. q.
Woodruff, Treasurer; Sheldon Osborn, GeneTalAe~nt.
Directors-J. G. Beckwith, Jason Whiting, Sefh
:. Beers A. s. Lewis, Sheldon Osborn, Abijah Cat 4
in, Charles Adams, Henry r. Coit Philip s. Besbe. II
CIRCULATING LIBRARX. 4
HHHE subscriber has concluded to LOAN BOOKS
IL from certain portions of his stock upon the or
mary terms. Books loaned MUST NOT be solLED o
as extra charges will be made Tor n
lme according to damage done. otse