Litchfield enquirer., 1859-07-14
$2,535,324

Remaining still insured, $2,5S5,sA
 The Company have no unpaid losses nor claims of any kind against them.
 They have never made an assessment, and during the past year, they have paid dividend of Is per cent on its renewal of policies and insurance, whh they will 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 s2,500 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 the securities where they can be made available at any time.
 For the prevention of fraud. and as protection against over insurance, the Company pay thrte fouths of the cash value of buildings which isusu ally, (deducting Che foundaton,) the full value of the property destroyed-and also, the full cash val ue of all partial losses buildings, and on all personal property contained therein to the amount of the insurance. The Company have inserted in their ' stcreotypel policy" provi:i n. 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 judicious and dsinterested persons arbitrators selected in the usual way by both parties or if either party negects 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 of the Compa- .J ,:tl r;r my. The expenses have been mostly for renewal of policies and the compensation to agents not ex ceeding 10 per cent) The incidental expenses oi rent, postac and other services. have not exceed ed seventy dollars per annum. The history of the Company exhibits the fact that strength and emil nent responsibility is 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 re eeipts, and has become of the strongest Compa- nies of the State. Other mutual Companies charge from 5to 10 per cent on the property insured, on which they receive per cent. in cash and the bal ance in notes-presentng large amount in notes as capital. One Company have contented them selves with 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 to add the cancelled and uncancelled premiums char ged on the books of the Company with the cash re ceived- making an aggregate of sl70,55Os0. De ducting the losses and expenses. (ssl1 and the balance. slS9, s22o o5, has been saved-thus ta king as an example, detached risk, at 40 cents on slo0, lees than one fifth of the premiums has been