Litchfield enquirer., 1860-10-04

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 of lOp per cent. their renewal of policies of insurance. which they will continue through the present. year, and probably for the future
 They have a bylaw which prevents the aSsur- ing of any risk, which, i'll any contingency, in- wolves the loss of than 52, 800 of prop, rty. Hence there can be no apprehension of any future assessment The funds ot 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 protcc ton against insurance, the Company pay three tourths of the cash value of buildings, which is usually, (deducting the toundation,) the full value of the property destroyed-and also, tine full cash value of all partial losses on buildings, and on all personal property contained therein, within amount of the insurance. IEe Coml@ny have inserted in their stereolyped policy q pro vision, by which, i'll any case of disagreement il. relation to the loss or damage sustained by the in sured, the questions arising therein shall be sub mitted 10 three judicious and dsinterested per sons as arbitrators, selected i'll the usual way by both parties; or if either party neslects to ai'- point it shall be the duty of ths Judge of Probate qualified to act, to make such appointment, whose i award in writing, after a lair hearing, shall be hna This las been found just, prompt, and very satisfactory method of adj justng all claims doubtful character, avoids all litigation, and is not exp ,nsive. fine financial affairs of he Com pany have been managed with the most rigi, euonumy Tine expenses have buen mostly for ncwal of policies and the compensation to agents, (not exceeding 10 per cent.) The incidental eX- penses of rent, postage, and other services, have not exceeded seventy dollars per annum. The his tory of the Company exhibits the fact that stren tn and eminent responsibility are necessary to render d Company prosperous, and give 1t the full cont- dence of the public. Under the Five Years sys- l l,r,,I plus Eut under the present system, and for tne last ten years, it has not expended 40 per cent oi its annual cash receipts, and has become one oi the strongest Companies in the state. Other mu- tual Companies charge from to 10 per cent on the property insured, on which tLey receive per cent. in cash, and the balance ln notes-present- ing d large amount in notes as capital Our Com p;.ly have contented themselves with charging only the amount usually charged by Stock Com 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 lecty the benefits which have resulted to the in sured on the mutual principle. We have only to a,id the cancelled and uncancellcd premiums charged on the books of the Company with the cash notwithstanding an aggregate of SlSo,- 236.76. Deducting the losses and expenses, (S34,- 127.31,) and the balance, Sl5l, lO9.4o has been saved-thus taking an example, detachel risk at 40 cents on $l00, less than one-titth of
  ance cost less than cents 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 mosG incredulous, that it is both profitable and reliable when judiciously managed, and at the same time, sustains the emi ncnt 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 legitimately assumed by the Company.
 In behalf of the Directors,
 J. G. BECKWITH, President.
 OFFICERS OF THE COMPANY FOR lo6O-61: J. G. Beckwith, President; J. Whiting, Secretary G. c. Woodruff, Treasurer; Sheldon Osborn, Gener- al Agent.
 Direcsors-J G. Beckwith, Jason Whiting, Seth F. Beers, A. S. Lewis, Sheldon Osborn. Abijah Catln, Cha s Adams, H. R. Colt, Philip S. Beebe.