Litchfield enquirer., 1860-02-23

1 Ihesf company have no unpaid losses nor claims 1 of any kind against them.
 They have never made ain assessment and dur. ing tie past year, have paid dividend Of 10 per cent on their renewal of policies of insurance. whith they will continue through the preseLt year, and probably for Il fuiuic.
 They have by law which prevents the asHur. wolves the Toss of more than s2, ,JUU tI pf5beriy. lure assessment. The fuii"s of the Cf mpany are loaned on bonds and mortgages, and other srcu . rites where they can be niade available at any | time.
 For the prevention of fraud and as . prcseetjcn against over insurance, the Company pay hyse- ourhs of the cash value of buildings which is usu ally (deducting the foundati n the full value of the property deStroyed-and also, the fnll cash value of all partial losses on buildings, and on all personal property contained therein vii hin amount oi the Insurance The Company have inserted iA l their "stereotyped policy a provision by which in any case of disagreement in relation tC tb, l,.s or damage sustained by the insured the aurstit,ns arising therein shall bcsubmitcd to three judjsDuu and disnterested persons arbitratoTs selected in the usual way by both parties or if either party negccts to appoint it shall be the duty ofthe Judge of Probate qualified to act. to make such aplniut |. ment, whose award in writing after faiI hearing shall be final. This has been found just prun,pf and very satisfactory method of adjusting ali cIaiss of doubtful character, avoids all litigatisn and is not expensive. The financial affairs of inc tom
 
 my. The expenses have been mostly for renewal of policies and the compensation to agrnts. lnOt exceeding 10 percent.) The incidental exi,eu,ss of rent, postage and other services have not excred. ed seventy dollars per annuni. The history of the Company exhibits the fact that strength and cusi. nent responsibility are necessary tO render on. pany prosperous. and give it the full confidence Of thepnblic. Under the Five Years syst, m the C. m. pany barely existed with cash surplus but undsT the present system and for the last ten years tt has not expended 40 per cent of its annual ca,h re ccpts and has become one of the strongest C. mpa- nes in the State. Other mutual Companies chaigs from to 10 per cent. on the property insured sn which they receive per cent in cash and the bal. ance in notes-presenting large amount in notes as capital. Our Company have cOnttnted 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 essi. mate, therefore. correctly, the benefits which have resulted to the insured on the mutual prjn. ciple, we have only te add the cancelled and un, cancelled premiums charged on the books of ths Company with the cash received-makin9 an aggregate of Sl7O, $50 80. Dednctiug the io..~s and expenses, 1881 ,12S.75) and the balance. $l39. 3Z2O5. has been saved-thus taking as u., example, detached risk, at 40 cents oh oIOO. less than one-fiftn of the premiums has been used making the insurance cost less thnn cents on that sum for each year.
 The Financial Summary of the operntiens 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 Mutpsi Insurance. and should satisfy the most incTsda. "us, that 1t is both profitable and reliable, uhea managed, and at the same dmc, sus. alns the eminent responsibility of the Company US claims to public confidence, and it's adspta. ton to the circumstances of oGr community, for such risks as can be legitiwately assumed by the Company.
 In behalf of the Directors,
 J. c. BEcKwIrH, Pres't.
 OFFICERS OF THE COMPANY FoR 1S69-G0 --J. q. Beck with. President; J. Whiting. Secretary 0 c. Woodrnf, Treasurer Sheldon Osborn, General Agent l. r. Beers, A. g. Lewis. sheldon Osborn. Xbjiak Catlin, Chas Adams, H. R. Coit, Philip s. Becbe.