Litchfield enquirer., 1860-04-12
SIS, ,sGO. 21 s121 600 59 s9. .1OI.4ss

| <1=E<s= @~=@- E-@~-SS Of the amount of Cash received for
 ,ll ieiiuiS run ..:;.............. s,eSO.zl There has been paid for
 losses and expenses to
 tnlS tllae. ............ SSl ,12S.15 | For Dividend of 10 perct
 paid on years renewals SI7.I2- sS1, ,45SS7 Which deducted from the Cash receipts i leaves. ........................ S17 ,3S5,S4 Amount received for in-
 terest on loans last year S1 ,012.19
 Due from Agents and
 Cash deposited. ...... 3,25s SS- sI,50O.s3 Cash Funds. s21.csl S | Ofthe amount charged on the books. 5121 .GSO 50 | there has been cancelled. ......... sJ.5SOeS Balance. ........... s26.1595 51 | Which, with the Cash funds ........ 2l ,Ge4 S6 And money loaned as above,
 Makes an available Capital of. ...... si5. .sl1 e RECEIPTS AND EXPENDITURES TOR TIE YEAR 1858 -Ss: Received for premiums, dcdueting di'i.
 Received ; for nterss, on loan. last year ioiaiS
 .5.Iss. z5 Deduct Losses and Expenses. s........... Z.72: OS
 Balance resulting to Fund. .s2.710 2. Of the Property insured d............Sg, ,TO4, ,ISs There has been surrendered, mostly by
 expiration of policy $g. .jS9 .fS4 Remaining still insured. rcd...............S2; ;Sj S2
 ThesCompany have no unpaid losses nor claims of any kind against them.
 They have never made an assessment ard duT- ing the past year, have paid q dividend of 10 psr cent. on their renewal of policies Of insurance. which they will continue through tIe pTs.sLt yeal, and probably for iIe future
 They have a bylaw which prevents thc assur- ing of any risk, which, in any contingency. ia wolves the loss ol more than S2, 800 of property. Hence there can be no apprehension of any fu- lure assessment. The fUnus of the Gel tmpany afs loaned OH bonds and mortgages and other sSsH- rites where they can be made available Gt sHy i time.
 1 For the prevention of fraud and ds pro frcti~a against over insurance, the Company pay fLTfs- jo"ths of the cash value of buildings wLi is usp ally, ldcductng the fOundatiCn.J thc full value of the property dcstroycd-and also. the full cash value of all partial losses on buildiHgs and all personal property ycOntained therein. wIthinamCunt of the insurance. The Company have inserted in their stercotypcd policy" provision by which. in any of disagreement in relation tO ths lose or damage sustained by the insured the que sfiOhs arising therein shall submitted iO thIcc judiciouH and disncrcstCd persons as aTbitraoTs Seleetsd in the usual way by both parties fl either party neglects to appoint il shall be the duty Ofthe Judge of Probate qualified 10 act tO make such appoint ment, whose award in writing. aftcra fair beaTiBg shall be final This has been found just, pTo mpt. and very satisfactory mcthUdOi adjusting all claims of doubtful character, avoids all litigation, aBd is not expensive. The financial affairs Of the Com pany have been managed with the most rigid ccODO- my The expenses have been mostly for renewal | of policies and the compensation to agents lBOt | exceeding 10 percent.) The incidental exTenses of rent postage and other services. have not exessd- ed seventy dollars per annUm. The history of tEs Company exhibits the fact, that strength and smi- nent responsibility are necessary tO render Com. pany prosperous and give it the full confidence of 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 years it has not expended 40 per cent of it's annual each Ie- ceipts and has become one of the strongest Compa- nies in the State. Other mutual Companies charge from to l 0 per cent. on the property insured on which they receive per cent in cash, and the baI- ance in notcs-presenting large amount in notes as capital. Our Company have cOntented thesa- selves with charging only the amount usually charged by Stock Companies, and have not made the insured responsible for more than tbey would have paid in cash, in annual insurance. To sssi- mate, therefore, correctly, the benefits which have resulted to the insured on the mutual rrin ciple, we have only to add the cancelled and un- cancelled premiums changed on the books of the Company with the cash received-nIaktpg an aggregate of S170,550 sO Deducting the joss@s and expenses, 1881, ,12S.75,) and the balance. s139. 1929. .05. has been saved-tbus taking as an example, detached risk, at 40 cents on S1OO. less than one-fiftn of the premiums has been matchmaking the insurance cost less than 6 cents on that sum for each year.
 The Financial Summary of the operations and condition of the Company, after twenty.siG years oi experience, are the best arguments which can be adduced in favor of the system of Mutuat Insurance, and should satisfy the most ineTedH- lous, that it is both profitable and reliable when judciOusly managed, and at the same time, sus- aims the eminent responsibility of the Company, its claims to public confidence, and its adapta- ton to the circumstances of our community, fer such risks as can be legitimately assumed by Ihe Company
 In behalf of the Directors,
 J. G. BEcKwTTH, Pres't OFFICERS OF THE COMPANY FOR 1S59-GO-J. d. Beckwith, President; J. Whiting, Secretary Q. C. Woodruff, Treasurer Sheldon Osborn, General Agent.
 Direciors-J. G. Beckwith, Jason whitfns. S~st. r. Beers, A. S. Lewis, Sheldon Osborn. XbiisH Catlin, Chas Adams, H. K. Colt, Philip s. Beebe.
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