Litchfield enquirer. [volume] (Litchfield, Conn.) 1829-current, 1859-10-20

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 wh
they Will continue through the present year, and
probably for the future.
i They have bylaw which prevents the assuring
of any risk, which, in any contingency involves
the loss OF more than 81, 800 of property Hence
there can be no apprehension of any future assess
ment. The funds of the Company are loaned on
bonds and mortgages and other securities where they
can he made available at any time.
For the prevention of fraud and as a protection
against over insurance, the Company pay three
JouThs OF the cash value of buildings which is usu
ally, ldeducting the foundation) the full value of
the property dcstroyed-and also the full c;sh val
lie OF all partial losses on buildings, and all
personal property contained therein within amount
OF the insurance. The Company have inserted I'm
their stereotyped policy u provision by which,
in any case OF disagreement in relation to the loss
or damage sustained by the insured, the questions
arising therein shall be submitted to three udicios
and disncrested persons arGitratOrs selected in
the usual way by both parties or if either party
negccts to appoint shall be the duty of the Judge
of Probate qualified to act, to make such appoint
ment, whosc award in writing after a fair hearing
shall be final This has been found Just, prompt,
and very satisfactory method Of adjusting ali claims
of doubtful character, avoids all litigation and il
not expensive. The financial affairs OF the Compa-
ny have been managed with the most rigid ecUno-
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
cd seventy dollars per annum. The history Of tho
Company exhibits the fact, that strength and emf
nent responsibility are necessary to render Compa-
ny prosperous and give it the full confidence VI tho
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
CENTS. and has become q the strnu0egt Gamma
MES in the State. Other mutual Companies charge
from to 10 per cent. Oh 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 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-
ceived-makiDg an aggregate OF $170,5 800 50. DO.
Quoting the losses and expenses, 1881 l2S 49, and
the balance S139. 1872 O5. has been saved-thus ta-
king as an example, detached risk, at 40 cents on
$780, less than oneffth Of the premiums has been
matchmaking the insurance cost less than cents
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 which
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
ciously managed and at the time, sustains the
eminent responsibility of the Company, its claims
public confidence, and its adaptation to the cir
cumstances of our community for such risks az can
be lcgitimately assumed by the Company.
In behalf of the Directors, j. G. BEcKwIrH Prss't
OFFICERS OF THE COMPANY FOR 1S59-60.-J.XG.
3eckwith, President; ]. Whiting, Secretary 9 G.
Woodruff Treasurer; Sheldon Osborn, General Agent.
Direetors-J. G. Beckwith, Jason Whiting, Seth
!. Beers, A. s. Lewis, Sheldon Osborn, Abijah Cat
in, Charles Adams, Henry r. Colt, Philip s. Beebe.