Litchfield enquirer., 1860-12-13
The Company have no unpaid losses nor claims. of any kind against them.

The 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 made a dividend of 10 pei cent on their renewal of policies of insurance, which they will continue through the present year, and probably for the future
 They have bylaw which prevents the assur- ing of any risk, which, in any contingency in wolves the loss of more than S2,500 ot prop rty Hence there can be no apprehension of any future assessment. The funds of the Company are loan ed on bonds and mortgages, and other securities where they can be made available at aly time.
 For the prevention of fraud. and as a protec- tion against over insurance, the Company pay
 tree fourths of the cash value of buildings which is usually, (deducting the foundation,) the full value of the property destroyed-and also, the full cash value of all partial losses on buildings and on all personal property contained therein, within amount of the insurance. IEe Company have inserted in their stereotyped policy" apro vision, by which, in any case of disagreement in relation to the loss or damage sustained by the in sured, the questions arising therein shall be sub mitted to three judicious and disintercsed per sons as arbitrators, selected in the usual way by both parties or if either party neglects to ap- point it shall be the duty of the Judge of Probate qualified to act to make such appointment, whose award in writing, after fair hearing, shall be final This has been found a just, prompt, and very satisfactory method of adjusting all claims of doubtful character avoids all litigation, and is not ex xpensvc. The financial affairs of the Com pany have been managed with the most rigid economy. The expenses have been mostly for re- newal of policies and the compcnsation to agents, (not exceeding 10 per cent.). The incidental ex- penses of rent, postage, and other services, have not exceeded seventy dollars per annum. The his tory of the Company exhibits the fact that stren and eminent responsibility are necessary to render a Company prosperous and give it the full confi- dence of the public. Under the Five Years sys- tenn, the Company barely existed with cash sur plus but under the present system, and for the last ten years it has not expended 70 per cent: of it's annual cash receipts, and has become one of the strongest Companies in the state. Other mu- tual Companies charge from to 10 per cent. on the property insured on which they receive per cent. in cash, and the balance in notcs--prcssnt ing a large amount in notes as capital Our Con- pany have contented themselves with charging only the amount usually charged by Stock Com panies, and have not made the insared responsi- ble for more than they would have paid in cash. in annual insurance To estimate, therefore, cor rectly, the benefits which have resulted to the in- sured on the mutual principle we have only to add the cancelled and uncancelled premiums charged on the books of the Company with the cash received-making an aggregate of Sl85.- 236.76. Deducting the losses and expenses, 1884. 127.31 J and the balance, $151 .45 has been | sayed-thus taking as an example, detached FISK, 6t 4V CeutS Ou 0lUV, leSS tnan One-nfeh Ot | the premiums has been used making the insur- ance cost less than 8 cents on that sum for each 1 year.
 | The Financial Summary of the operations and
 condition of the Company, after v years of expe-
 rience, are the best argument which can be ad-
 duced in favor of the system of Mutual Insurance,
 and should satisfy the most incredulous. that it | is both profitable and reliable, when judiciously
 managed, and at the same time, sustains the emi
 nent responsibility of the Company, its claims to
 public confidence, and its adaptation to the cir cumstanccs of our community, for such risks as can be lcgitimately assumed by the Company. In behalf of the Directors,
 J. G. BECKWTTH, President.
 OFFICERS OF THE COMPANY FOR 1860-6l: J. G. Beckwith, President; J. Whiting, Secretary G. 0. Woodruff, Treasurer; Sheldon Osborn, Gcner- al Agent
 Direetors-J G. Beckwith, Jason Whiting. Seth P. Beers, A. s. Lewis, Sheldon Osborn. Abijah Catlin, Cha.s Adams, H. R. Colt, Philip s. Beebe. 13