Litchfield enquirer., 1859-09-01

| 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. their renewal of policies of insurance, ,whi, they will continue through the present year, and
 probably for the future.
 1 They have a bylaw which prevents the assuring
 of any risk, which, in any contingency, involves
 the loss of more than S2,50O of property. Hence
 there can be no apprehension Of any future assess
 lnent The funds ot the Company are 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 l against over insurance, the Company pay three-
 Jou,tts of the cash value of buildings which is usu
 ally, (deducting the foundation, the full value 0f
 the property destroyed-and also, the full cash val | ue of all partial losses on buildings, and on aA
 personal property contained therein, within amount
 of the insurance. The Company have inserted in
 their ' stereotyped policy a provision, by which,
 in any of disagreement in relation to the loss l or damage sustained by the insured, the questions
 arising therein shall be submitted to three Judlcons
 and dlsiterested persons ar6trators, selected m l the usual way by both parties; or Ii either party
 negects to appoint shall be the duty ot the Judge l 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 satisfa factory method o adjusting all cis of doubtful character, avoids all litigation and Is l not expensive. The financial affairs Of the C0mpa-
  my. The expelses have been mostly Tor reneWA of policies and the compensation to agents, not ex ceeuing 10 per cent) The incidental expenses 0t rent, postage, and other services, have not exCeed ed seventy dollars per annum. The history oI tne Company exhibits the fact, that strength and emi- nent responsibility necessary to render ComPa- ny prosperous and give it the full confidence oI the public. Under the Five Years System the Compa- ny barely existed with a cash surplus but under the present Systeln and for the last ten years lt has not expended 40 per cent. of it's annual cash re- ceipts and has become one of the strongest Compa- nies in the State. Other mutual Companies charge from to 10 per cent. on the property insured, on which they receive per cent in cash, and the bal ance in notes-preselting large amount m notes as capital. Our Company have cOntented tnemse,es with charging only the amount usually charged py Stock Companies, and have not made the insured responsible for more than they would have paia m cash, in annual insurance To estimate, therefore, correctly, the benefits which have resulted to te 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 casn re- ceived-making an aggregate ot SlIO,05O oU De- ducting the losses and expenses, tsSl, ,l2S76) and the balance, S139, .05 has been saved-thus ta- king as an example, detached risk, at 40 cents on S1OO less than. .one-hftn of the premiums nas been matchmaking the insurance cost less than cents on that sum tor each year. 1..s. EN
 The Financial Summary of the operations and condition of the Company, after twenty-six wears of experience are the best arguments which can be adduced in favor of the System of Mutual Insurance and should satisfy the most increduous, that it is both profitable and reliable when judi ciously managed and at the same time, sustans the eminent responsibility of the Company, its claims to public confidence, and its adaptation to the cr- cumstances of our community, for such risks e can be legitimately assumed by the Company.
 In behalf of the Directors, J. G. BEcKwirH, Pres't.
 OFErcERs OF THE COMPANY TOR I859-6O.-J. C.. Beck with, President J.. Whiting, Secretary 70. Woodruff, Treasurer; Sheldon Osborn, General Agent.
 Dreetors-J. c. Beckwith, Jason Whiting, Seth Beers, A. s. Lewis, Sheldon Osborn, Abijai Cat. ins Charles Adams, Henry R. Colt, Philips. Bssbe.