Litchfield enquirer., 1860-09-27

The Company have no unpaid losses claims of any kind against them.
 They have never made an assessment, and dur ing tho past year, have made dividend Of 10 per 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, 300 of property. 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 any time. For the prevention of fraud. and protec- ton against over insurance, the Company pay Mree fourths of the cash vauo of buildings, which is usually, (dcducting the foundation,) the full 1 value of the property destroyed-and also, the full cash value of all partial losses buildings, and on all personal property contained therein, within amount of the insurance The Company have inserted in their stcreUtyped policy pro- vision, by which, in any case of disagreement in relation to the loss damage sustained by the in sured, the questions arising therein shall be sub- I mittcd to three judicious and disnterested per sons as arbitrators, selected ill the usual way by both parties or if either party neSleCts to ap- point it shall be the duty of the Judge of Probate qualliird to act, to make such appointment, whose award in writing, after fair hearing, shall be inal. 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 Con- pany have been managed with the most rigid economy. The expenses have boen mostly for re- newal of policies and the compensation to agents mot exceeding 10 per cent.) The incidental ex- penses of rent, postage, and other services, have not exceeded seventy dollars per annum. The hiss tory of Company exhibits the fact that strength and eminent responsibility necessary to render a Company prosperous, and give it the full conti dencs of the public. Under the Fivo 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 10 per cent of its 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 5 per cont. in cash, and the balance in notes-present- 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 insured 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 receivcd-making an aggregate of Sl85,- 23676. Deducting the losses and expenses, 1884, l27 31,) and the balance, Sl5l, ,109.45 has been saved-thus taking as an example, detached risk, at 40 cents on S100, less than one-ffth of the premiums has been matchmaking the insur- ance cost less than conts on that sum for each year.
 The Financial Summary of the operations and condition of the Company, after 27 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 cumstances of our community, for such risks as can be lcgtimately assumed by the Company. In behalf of the Directors,
 J. G. BECkWTTH, President. OFFICERS OF THE COMPANY FOR 1S60-61 J. G. Beckwith, President; J. Whiting, Secretary G. c. Woodruff, Treasurer; Sheldon Osborn, Gener al Agent.
 Directors-J. G. Beckwith, Jason Whiting, Seth P. Beers, A. s. Lewis, Sheldon Osborn. Abijah Catlin, Cha Adams, H. R. Colt, Philip s. Beebe.
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