Litchfield enquirer., 1860-11-29

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 made dividend uf 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, ill any contingency, in wolves the loss of more than S2, 800 of property. Hence there can be no apprehension of any future assessment The funds Uf the Company are loan ed on bonds and mortgages, and other securities where they can be made available at aLy time. For the prevention of fraud. and as a protec- tion against over insurance, the Company pay
 hree. .fourths of the cash value of buildings which is usually, (deducting the foundation,) the fuli | value of the property destroyed-and also, the
 full cash value of all partial losses on buildings
 and on all personal property contained therein, ! within amount of the insurance The Company
 have insert ted in their ' stereotyped policy pro l vision by which, in any case of disagreement in
 relation to the loss or damage sustained by the in
 sured, the questions arising therein si,all be sub-
 mitted to three jutlicious and disintercsted pcf- sons as arbitratOrs, selected in the usual way by both parties; or if either party neglects to ap- point it shall be the duty of the Judge of Probate qualified to act, to make such appointment, whose award in writing, after fair hearing, shall be dnal. This has been found just prompt, and very satisfactory method of adjusting all clams doubtful character, avoids all litigation and is not expansive. The financial affairs of the Com pany have been managed with the most rigid economy Thesexpenses have been mostly for re- ncwal of policies and the compensation to agents, (not exceeding 10 per cent) The incidental ex- pcnses of rent, postage, and other services, have not exceeded seventy dollars per annum. The his- tory of the Company exhibits the fact that strcn and eminent responsibility necessary to render Company prosperous, and give it she full conf a.,ftl, ,,,hl ltn ynIa tenn, the Company barely existed with cash sur. plus; but under the present system, and for the last ten years 1t has not expended 40 per cent of it's annual cash receipts, and has become one of the strongest Companies in the state. Other mu- tual Companies charge from 5 to 10 per cent. on the property insured, on which they receive per cent in cash, and the balance in notes-pres snt- ing large amount in notes capital. Our Con- pany have contented themselves with charging only the amount usually charged by Stock Com l. panies, and have not made the insured respunsl- 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 received-making an aggregate of $185,-
 2S6.16 Deducting the losses and expenses t$34 - lN.Sl J and the balance, $l5l ,109.45 has been
 saved-thus taking as an example, q detached 1 risk, at 40 cents on SlO0. less than oneffth of | the premiums has been used making the insur- | ance cost less than cents Oh that sum for each | year.
 The Financial Summary of the operations and
 condition Qf the Company. after 27 years of expe- | rienoe, afe 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 emf
 nent responsibility of the Company, it's claims to
 public confidence, and it's adaptation to the cir
 cumstances of our community, for such risks as
 can be legitimately assumed by the Company. In behalf of the Directors,
 J. G. BECKWITH, President r. OFFICERS OF THE COMPANY FOR 1S60a61: 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's Adams, H. R. Colt, Philip s. Beebe.