Litchfield enquirer., 1860-01-26

| Thc.Company have no unpaid losses nor claims of any kind against them.
 They have never made an assessment, and dur ing the past year, have paid dividend of 10 per cent. on their renewal of policies of insurance,
 which they will continue through the present year, and probably for tie future.
 They have bylaw which prevents the assur-
 ing of any risk, which, in any contingency, in- wolves the loss of more than 2500 of property.
 Hence there can be no apprehension of any fu- t"re assessment. The funds e the Company arc
 loaned on bonds and mortgages and other secu-
 rites where they can be made available ct any l time
 For the prevention of fraud and as a protection agalnst over insurance, the Company fay thT,s- tourths of the cash value of buildings which is ns
 ally, (deductng the foundation inc full value of the property destroyed-and also. tbe fuiI cosI value of all partial losses buildings and m hi l personal property,contained theroi wit nm amount of the insurance Tho company have inserted in their ' sterootyped policy" provision, by which.
 in any of disagreement in relation to the loss or damage sustained by the insured, the questions arising therein shall submitted to three iudiciouH and dsinterested persons as arbirators selected in the usual way by both parties or if either party neglects appoint it shall be the duty of the Judge of Probate qualified to act to make such appoiut, ment, whose award in writing. aftera fair hearing shall be final. This has been found just prompt and very satisfactory method of adjusting all claims of a doubtful character avoids all litigation and is not expensive The financial affairs of the Com pany have been managed with the most rigid econO- my. The expenses have been mostly for renewal of policies and the compensation to agents (not exceeding 10 percent.) 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 are necessary to render Com- pany prosperous and give it the full confidence of tke public Under the Five Years system, the Com, pany barely existed with cash surplus but under the present system, and for the last ten years it has not expended 40 per cent of it's annual cash re- ceipts, and has become 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-presenting large amount in notes capital Our Company have contented them selves 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 esti- mate, therefore, correctly, the benefits which have resulted to the insured on the mutual prin, ciple, we have only to add the cancelled and un. cancelled premiums charged on the books of the Company with the cash received-making an aggregate of Sl70, $50 80. Deducting the losses and expenses, tS31 ,128,75,) and the balance, S139. .322 O5, has been saved-thus taking as an example, detached risk, at 40 cents on S1OO less than one-6fth of the premiums has been matchmaking the insurance cost less than cents on that sum for each year.
 The Financial Summary of the operatious 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 incredu. lous, that it is both profitable and reliable, when judiciously managed, and at the same time, sus- aims the eminent responsibility of the Company, its claims to public confidence, and its adapta. tion to the circumstances of onr community, for such risks as can be legitimately assumed by the Company
 In behalf of the Directors,
 .. J. G. BEcKwIrH, Pres't.
 OFFICERS OF THE COMPANY FOR 1S59-60-J. O. Beckwith, President; J. Whiting, Secretary c. c. Woodruff, Treasurer Sheldon Osborn, General Agent
 Directors-J. G. Beckwith, Jason Whiting, Seth T. Beers, A. S. Lewis, Sheldon Osborn, Abijah Catlin, Cha's Adams, H. R. Colt, Philip s. Beebe.