Litchfield enquirer., 1860-01-19

1hesCompany have no unpaid losses nor claims of any kind against them
 They have never made an assessment and duT- ing the past year, have paid dividend Of 10 per cent on their renewal of policies of insursbes. which they will continue through the present year, and probably for the future.
 They have bylaw which prevents the assuT- ing of any risk, which, ill any contingency, in- wolves the loss of more than g., 800 of property Hence there can be no apprehension of any fu- ture assessment. The funds of the CcmpauV are loaned on bonds and mortgages and other secu- rites where they can be made available ct any time.
 For the prevention of fraud, and as 4 protectior, against over insurance, the Company pay tsyes- tourhS of the cash value of buildings, which Is usu ally, (deducting the fOundation) the full value of the property destroyed-and also. the full cash value of all partial losses on buildings and on af1 personal propertycontained therein wit hin amount of the insurance. The Company have inserted in their stereotyped policy provision, by which, in any of disagreement in relation to the loss | or damage sustained by the insured, the questions arising therein shall be submitted to three malicious and disnterested persons as arbitrators selected in the usual way by both parties; or if either party negccts to appoint it shall be the duty Of the Judgs 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 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 exeecd- ed seventy dollars per annum. The history Of tho Company exhibits the fact, that strength and emi- nent responsibility are necessary to render COm- pany prosperous, and give it the full confidence Of the public Under the Five Years system, the Com pany barely existed with cash surplus but under | 1..A has not expended 40 per cent. of it's annual cash ceipts and has become one of the strongest Compa- nies in the State. Other mutual Companies chargo from to 10 per cent on the property insured. on which they receive per cent. in cash and the bal, ance in notes-presenting a large amOuntin notes as capital. Our Company have cOntented theIn- 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 pFin. ciple, we have only to add the cancelled and un- cancelled premiums charged on the books Of the Company with the cash received-makiDg an aggregate of S170, $50 80 DeductiDg the losses and expenses (S31, 128, ,75.) and the balance, $139, ,322 05. has been saved-thus taking as as' example, detached risk, at 40 cents on SIOO, less than one.ifth of the premiums has been matchmaking the insurance cost less than s cents on that sum for each year.
 The Financial Summary of the operations and condition of the Company, after twenty-m3 years oi experience, are the best argument. which can be adduced in aEGr .osv of sSe t5e mo. ol Ions that if ;s both profitable and reliable, when iudiciousiy % @ " managed, and at the same tine sus, a;ns the eminent responsibility of the Company, it's its claims to public confidence, and its adspts- .: to tbe circumstances of our community, for smob risks as can be legitimateIy assumed by tho Company.
 In behalf of the Directors,
 J. G. BEcKwrrH, Prest,
 OFFICERS OF THE COMPANY FOR 1S59-6O-J. o, Beckwith President; J. Whiting, Secretary O. c. Woodruff, Treasurer Sheldon Osborn, General Agent.
 Directors-J. G. Beckwith, Jason Whiting, Seth r. Beers, A. s. Lewis. Sheldon Osborn, Abiiah Catlin, Cha's Adams, H. R. Colt, Philip S. Beebe.