Litchfield enquirer., 1860-03-29

The. Company have no unpaid losses claims of any kind against tl, n.
 They have never made an assessment T, q dur ing the past year, have paid dividend nf 10 prr cent on their renewal of policies "t iISur"m.c. which they will continue through the prCscLt year, and prUla ably fer q C futulc
 They have q bylaw which prevents tlic assur- ing of any itk, which, in any contingency, in- wolves the loss "i moie !i.an S2,;OO uf property. H.ncs there can be no apprehension oi any fu- ture assessment The tunts ot the C, mpany nIO lolned on bonds aLd mortgages and other sccu- rites where they be made available at any time.
 For the prevention of fraud and Ns protectisn against over insurance, the Company pay Mrts- iouths of the cash value of buildings which is usu ally, (dcducting the foundatiUn the full value of the property destroyed-and also, the full cash value of all partial losses buildings and on all personal property contained therein, ithin amount of the insurance. The Company have inserted in their q stereotyped policy" provision by which.
 n any case of disagreement in relation to the loss or damage sustained by the insured. the questions arising therein shall besu omitted to three judicious and disnterested persons arbirators, selected iu the usual way by both parties; or if either party neglecs to appoint it shall be the duty of the Judge of Probate qualified to act, to make such appoint ment, whose award in writing after fail hearing, shall be final. This has been found just prompt, and very satisfactory method of adjusting all caimS of doubtful character, avoids all litigaticn 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 emt, nent responsibility are necessary tO render Com. pany prosperous, and give it the full confidence ot the public. Under the Five Years system, the Com pany barely existed with cash surplus but under the present system, and for the last ten ycarS t has not expended 40 per cent Oi its annual cash reipts and has become of the strongest G mpa. 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 amOuntin notes as 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 seti- matc therefore. correctly, the benefits which have resulted to the insured on the mutual pTip- ciple, we have only te add the cancelled and up. cancelled premiums charged on the books of the Company with the cash received-makiDg an aggregate of $170,560 80. Deducting the losses and expenses, 1881 ,128.75) and the balance. S139. .222 O5. has been saved-thus taking as sn example, a detached risk, at 40 cents on S1OO. less than one-tftn of the premiums has bees used making the insurance cost less than q cents on that sum for each year.
 The Financial Summary of the opeTations and condition of the Company, after twenty -six years oi 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, ~hen aims the eminent responsibility of the Company, it's claims to public confidence. and its adapts. tion to the circumstances of our community, fox such risks as can be legitimately assumed by the Company: n.-...
 AA J. G. BncKwIvH, Prss't.
 OFFICERS OF THE COMPANY FoR 1659-6O-J. c. Rack with, President; J. Whiting, Secretary q. c. woodruff, Treasurer Sheldon Osborn, General Agent
 Dirsctors-J. G. Beckwith, Jason Whiting. sesh 2. Beers, A. s. Lewis. Sheldon Osborn, Xbiiah Jatln, Cha Adams, H. R. Colt, Philip $. Beche.