Litchfield enquirer., 1860-10-11

The Company have unpaid losses nor claims of any kind against them.
 They have never made an assessment and dur ing the past year, have made d dividend of 10 per cent on their renewal of policies of insurance which they will continue thrjugh the present year, and probably for the future
 They have bylaw which prevents the assur ing ut any risk, whi.h, ill any contingency, in Wolves the loss of morc than S2, 5OO of prop rty Hence there can De 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 al.y time. For the prevention of fraud. and as prutcc ton against insurance, the Company pay hrec tonrths of the cash value Of buildings, which is usually, (deducting the toundation,) the ful | value of the property destroyed-and also, the full cash value of all partial losses on buildings l and on all personal property contained therein, within amount of the Insurance. Ike Company | nave inserted in their stereotyped policy" pro | vision, by which, ill any case of disagreement in relation to the loss or damage sustained by the in sureu the questions arising therein shall be sub mitted to three judicious and diSinterested per sons arbitrators, selected in the usual way by both parties; or if either party ncSlccts to al
 point it shall be the duty uf tue JuGge of Probate qualified to act, to make such appointment whose 1 award in writing, after a fair hearing, shall be ilual Ihis has been found just, prompt, aud very satisfactory method of ad usting all claims o doubtful character, avoids all litigation and is not expansive. The financial affairs of he Com pahy have been managed with the most rigiH ecolomy. The expenses have been mostly for ic newal of policies and the compensation to agents | lnot exceeding 10 per cent.) The incidental cx penscs of rent, postage, and other serviceS have I not exceeded seventy dollars per annum The Li,- tory of the Company exhibits the fact that stren tn and eminent responsibility are necessary to render l Il Company prosperous, and give it the full conh- tence of the public. Under the Five Years sys tcln, the Company barely existed with cash sur | plus but under the present system, and for the fast years, it has hot expended 10 Der cent o | its annual cash receipts, and has become one oi | the strongest Com panies ill the state. Other mu | tuai Companies charge from to 10 per cent. on the property insured, which tEev receive 5 Der | cent. in cash, and the balance in notes--present ing large amount in notes as capital. Our Com | panv have contcnted themselves with charging | Jniy the amount usually charged by Stock Com panies, and have not made the Insured respuns- ble for more than they would have paid in cash, | in annual insurance. To estimate therefore, cor | rcutly the benefits which have resulted to the in surei on the mutual principle we have only to | add the cancelled and uncancclled premiums charged on the books of the Company with the | clsh notwithstanding all aggregate of $780, 236 e. Dcducting the loss, 5 and expenses, fS34 l27 .3l J and the balance, Sl5l, l09.io has been savcd-thus taking as an example, detachet risk at 40 cents on S1O0, less than one-hith of the premiums has been used making the liisu.- ancc cost less than cents oll that sum for each year.
 The Financial Summary of the operations and condition of the Company, after v years of expe- | rience, are the best argument which can be ad-
 duccd in favor of the system of Mutual Insurance, and should satisfy the most incredulous, that it
 is both profitable and reliable, when judiiciously
 managed and at the same time, sustails the emi
 uent responsibility of the Company its claims to | public confidence, and its adaptation to the cir
 cumstanccs of our community, for such risks as
 can be lcgitimately assumed by the Company. | In behalf of the Directors,
 J. G. BECkWITH, President OFFICERS OF THE COMPANY FOR 1360-61: J. G.
 Beckwith. President; J. Whiting Secretary G.
 c. Woodruff Treasurer; Sheldon Osborn, Gener-
 al Agent.
 Drectors-J. G. Bcckwith, Jason Whiting, Seth
 P. Beers, A. $. Lewis, Sheldon Osborn. Abijah
 Catlin, Chas Adams, H. R. Colt, Philip s. Beebe. 13