Litchfield enquirer. [volume] (Litchfield, Conn.) 1829-current, 1860-01-12

ThesCompany have no unpaid losses nor claims
of any kind against them.
They have never made an assessment, and duv.
ing the past year, have paid dividend Of 10 psg
cent on their renewal of policies Of Insurance..
which they will continue through the preseLt
year, and probably for tie future.
They have bylaw which prevents the assuT-
ing of any rifk, which. in any contingency. In
wolves the loss of more than 81, 500 Of property.
Hence there can be no apprehension OF any ~.
ture assessment The funds of the Company arc
loaned on bonds and mortgages, and other secu-
rites where they can he made available ct any
| time.
For the prevention of fraud, and rs q protection
against over insurance, the Company pay three
1ourhs of the cash value of buildings which IL usu
ally, ldeductlng the foundation) the full value Of
the property destroyed-and also, the full cash
value of all partial losses buildings. and ON an
personal propertycontained therein within amount
of the insurance. The Company have inserted IN
their g stereotyped policy" provision, by which,
in any case of disagreement in relation TO the loss
or damage sustained by the insured, the questions
arising therein shall besubmitted to three judicious
and dsinterested persons arbitrators selected In
the usual way by both parties; or If either party
neglects to appoint shall be the duty of the judge
OF Probate qualified to act to make such appoint.
ment, whose award in writing. after fair hearing
shall be final. This has been found Just, prompt
and very satisfactory adjusting ali claims
of doubtful character, avoids all litigation, and
is not expensive The financial affairs Of the Com.
pany have been managed with the most rigid econ0.
my. The expenses have been mostly for renewal
of policies and the compensation to agents. mot
exceeding 10 perccnt) The incidental expenses of
rent postage, and other services have not exceed.
I'd seventy dollars per annum. The history of the
Company exhibits the fact, that strength and emf.
nent responsibility are necessary to render Com.
pany prosperous and give 1t the full confidence Of
thepublc. Under the Five Years system, the Com.
pany barely existed with cash surplus but under
the present system, and for the last ten years. tt
has not expended 40 per cent oits annual cash 70.
cepts, and has become one of the strongest COmpa-
MES in the State. Other mutual Companies charge
from to 10 per cent. on the property insured, on
which they receive per cent in cash, and the bal.
ance in notes-presenting large amountin notes
as capital. Our Company have cOntented 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 esti-
matc, therefore, correctly, the benefits which
have resulted to the insured on the mutual pFins
ciple, we have only to add the cancelled aud I'M
cancelled premiums charged on the books Of the
Company with the cash Notwithstanding an
aggregate of $170 $50 80. Deducting the 1ossea
and expenses, 1881, 128,75,) and the balapcs.
example, a detached risk, at 40 cents on 800,
less than one-ffth of the premiums has been
matchmaking the insurance cost less than q
cents on that sum for each year,
The Financial Summary OF the operations
and condition of the Company after twenty-siH
years OF experience are the best arguments which
can be adduced in favor of the system Of Mutual
Insurance, and should satisfy the most ipcredu.
lous that it is both profitable and reliable, vheR
judiciously managed, and at the same time, sugs
aims the eminent responsibility OF the Company,
its claims to public confidence, and tfs adaptas
ton to the Circumstance of our community, fog
such risks as can be legitimately assumed By Ne
Company. . -r.....
J. G. BEcKwITH, Prss't.
orr1oEns OF THE COMPANY NJ, fon 5000 Q,
G Woodruff, Treasurer Sheldon Osborn, Gepeypl
1Grsctors-J G. Beckwith, Jason Whiting, seth
T. Beers, A. S. Lewis, Sheldon Osborn, lbiiak
Catlin, Cha's Adams, H. r. Colt, Philip 5. Dsebs,