Litchfield enquirer., 1860-04-19

he..Company have no unpaid losses nor claims ot any kind against them.
 They have never made an assessment, and dur ing the past year. have paid dividend of 10 per cent. on their renewal of policies of insurance, wLi>h they will continue through the present
 year. and probably for tl:e future They have bylaw which prevents the assur ing of any risk, which, in any contingency, ill
 wolves the loss of more than S2, ,5OU ot property Hence there can be no apprehension of any flu
 Iure assessment. The funus of the Company art loaned on bonds and mortgages, and other secu- rites where they can be made available at any time.
 For the prevention of fraud and as protection against over insurance, the Company pay Mrte tourths of the cash value ofbuildings which is usu ally (deductng the foundati"n,) the full value of the property destroyed-and also, the full cash value of all partial losses buildings and on all personal property contained therein, withinamount of the insurance. The Company have inserted ill their stereotyped policy provision, by which, in any of disagreement in relation to the loss or damage sustained by the insured, the questions arising therein shall ubmtted to three iudicions and disinterested persons arbtrators, selectedn the usual way by both parties or If either party neglccts to appoint shall be the duty of the Judge of Probate qualified to act to make such appoint ment, whose award in writing. aftera fair hearing shall be final. This has been found just, prompt and very satisfactory method of dustng all claim of doubtful character avoids all litigation, and is not expensive. The financial affairs of the Com pany have been managed with the most rigid econo my. The expenses have been mostly for renewal of policies and the compensation to agents, (not exceeding 10 pcrccnt.) The incidental expenses o rent, postage and other services, have not exceed ed seventy dollars per annum. The history of the Company exhibits the fact, that strength and emi nent responsibility necessary to render Com pany prosperous and give it the full confidence 0 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 i, has not expended 40 per cent of its annual cash re ceipts, and has become one of the strongest Compa nies 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-prcsenting large amount in 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 mate, therefore, correctly, the benefits which have resulted to the insured on the mutual prin- ciple. we have only to add the cancelled and un- cancelled premiums charged on the books of the Company with the cash received-making an 1erregate of S17O, $50 80. Deducting the losses and expenses, ($31 ,128,75,) and the balance, s1 39. .322 O5. has been saved-thus taking as an example, detached risk at 40 cents on $1O0, less than one-fftn of the premiums has been used ed-making the insurance cost less than cents on that sum for each year.
 The Financial Summary of the operations md condition of the Company, after twenty six years oi experience. are the best arguments which ;an be adduced in favor of the system of Mutual and should satisfy the most incredu ous, that it is both profitable and reliable, when managed, and at the same time. sus- | tins the eminent responsibility of the Company | ts claims to public confidence, and it's adapta l ion to the circumstances of our community for | uch risks as can be legitimately assumed by the Company.
 In behalf of the Directors,
 J. G. BEcKwrrH, Pres't.
 OFFICERS OF THE COMPANY FOR 1S59-6O-J. G. | 3eckwith, President; J. Whiting, Secretary ,. Woodruff, Treasurer Sheldon Osborn, General Agent.
 Directors-J G. Beckwith, Jason Whiting, Seth :. Beers. A. s. Lewis, Sheldon Osborn. Abl]ah ;atlin, Cha Adams, H. R. Colt, Philip 5. Beeoe.