Litchfield enquirer., 1860-04-26

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 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 S2, 300 of property. Hence there can be no apprehension of any flu turc assessment. The fuiius of the Ct mpany are loaned on bonds and mortgages, and other secu- rites where they can be made available at any time
 For the prevention of fraud, and as protection against over insurance, the Company pay three fourths of the cash value ofbuldings which is usu ally, (deducting the foundaion, the full value of the property destroyed-and also, the full cash value of all partial losses on buildings, and on all personal propertycontained therein, ,withinamount of the insurance The Company have inserted in their 'stereotyped policy"a provision, by which, in any of disagreement ill relation to the loss or damage sustained by the insured, the questions arising therein shall besubmitted to three judcious and disnterested 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. aftera fair hearing, shall be final. This has been found just, prompt, and very satisfactory method of adjusting all claim 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 cd 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 oi the public Under the Five Years system, the Con- 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 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-presenting a large amountin notes as capital. Our Company have contented them selves with charging only the amount ,a 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 benents which have resulted to the insured on the mutual prin- cple we have only to add the cancelled and un- cancelled premiums charged on the books of the with the cash received-making an aggregate of Sl70,5 80. Deducting the losses | and expenses, (S3l ,l28.75,) and the balance, | s139. .322 O5. has been saved-thus taking as an | example, a detached risk, at 40 cents on $1OO, less than one-fftn of the premiums has been GDC lIlSuTunC6 COSL 1eES t03n Q cents on that sum for each year.
 The Financial Summary of the operations md condition of the Company, after twenty-six years oi experience, the best arguments which can be adduced in favor of the system of Mutual and should satisfy the most incredu. ous that it is both profitable and reliable, when udiciously managed, and at the same time, sus- sins the eminent responsibility of the Company. ts claims to public confidence, and its adapta. ion to the circumstances of our community. for uch risks as can be legitimately assumed by the Company.
 In behalf of the Directors.
 J. G. BEcKwIrH, Pres't.
 OFFICERS OF THE COMPANY FOR l859-60 G. 3eckwith, President; J. Whiting. Secretarv. a :! Woodruff, Treasurer Sheldon Osborn, General Agent. Direcsors-J. c. Beckwith, Jason Whiting, Seth ]. Beers. A. s. Lewis. Sheldon Osborn, Abiiah jatlin, Cha's Adams, H. R. Colt, Philip s. Beebe.