Litchfield enquirer., 1859-09-08


 any kind against them
 They have never made an assessment, and during
 the past year, have paid dividend of 10 per
 cent their renewal of policies of insurance whith
 they will continue through the present year, and
 probably for the future
 They have bylaw which prevents the assuring
 of any rink, which, in any contingency, involves
 the loss of more than S2, 800 of property. Hence
 there can De apprehension of any future assess
 mcnt. The funds of the Company loaned on bonds and mortgages and other securities where they | can be made available at any time.
 | For the prevention of fraud, and as protection against insurance, the Company pay three Jourths of the cash value of buildings which is usu ally, (deducting the foundaton,) the full value of the property destroyed-and aso the full cash yal- ue of all partial losses on buildings and on all personal property contained therein, within amount of the insurance. The Company have inserted in their stereolyped policy provision, by which, in any of disagreement in relation to the loss or damage sustained by the insured, the questions arising therein shall Dc submitted to three udiciOus and dsnterested persons arbirators, 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 ment whose award in writing. after fair hearing, shall be final. This has been found just, prompt, and very satisfactory method of adjusting all claims of doubtful character, avoids all litigation, and is not expensive. The financial affairs Ot the COmpa- ny have been managed with the most rigid ecOnO- my. The expenses have been mostly for renewal and Luc CO agents, (0Ot 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 emi- nent responsibility necessary to render COmpa- ny prosperous and give it the full confidence of the public Under the Five Years System, the Comps,- ny barely existed with a 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 Comlm- nies in the State. Other mutual Companies chaiae from to 10 per cent. on the property insured un which they receive per cent in cash, and the bal ance in notes-presenting large amount in notrs as capital. Our Company have cOntented themselves with charging only the amount usually charged Ly 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 tho insured on the mutual principle, we have only to add the cancelled and uncancelled premiums char ged on the books of the Company with the cash re- an aggregate of $17O, 550 80. De- ducting the losses and expenses, 1881 ,75D and the balance $139. 22.O5. has been saved-thus ts- king an example, a detached risk, at 40 cents n sl00, less than one-fftn of the premiums has been matchmaking the insurance cost less than cents on that sum for each year. 7F 7ss
 The Financial Summary of the operations and condition of the Company, after twenty-six years oi experience, are the best arguments which can be adduced in favor of the System of Mutual Insurance, and should satisfy the most incTeulous, that it is both profitable and reliable, when judi ciousy managed, and at the same time, sustains the eminent responsibility of the Company, its claims to public confidence. and it's adaptation to the cir cumstances of community, for such risks as can be legitin,atey assumed by the Company.
 In behalf of the Directors, J. G. BEcKwrrH Pres't
 OFFICERS OF THE COMPANY FOR 1859 6O.-JRG. President; J. Whiting Secretary :; O. C. Woodruff Treasurer Sheldon Osborn, General Agent.
 Directors-J. G. Beckwith, Jason Whiting, Seth I. Beers, A. S. Lewis, Sheldon Osborn, Abijah Cat lin, Charles Adams Henry R. Colt, Philip s. Besbe.