Litchfield enquirer., 1860-05-03

The. Company have no unpaid losses nor claims of any kid 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 whh they will continue through the present year, and probably for tle future.
 They have q bylaw which prevents the assur ing of any risk, which, in any contingency, in wolves the loss of more than S2 800 ot property. Hence there can be no apprehension of any fu- lure assessment. The funds of the Company are 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 a protection against over insurance, the Company pay hrte lourths of the cash value of buildings which is usu ally, tdeducting the foundation the full value of the property destroyed--and also, the full cash value of all partial losses on buildings and on all personal propcrtycOntainedt therein wthinamuunt of the insurance. The Company have inserted in their 'stereotypcd policy'a provision, by which, ill any of disagreement in relation to the loss or damage sustained by the insured the questions arising therein shall bcsubmitted to three judicious and disnterestcd persons arbtrators selected in the usual way by both parties or if either party negccts to appoint it shall be the duty of the Judge of Probate qualified to act, to make such appoint ment, whose award in writing aftcra fair hearing shall be final. This has been found just, prompt and very satisfactory method of adjusting all claim of doubtful character, avoids all litigation, and is not expensive. Tie financial affairs of the Com pany have been managed with the most rigid ccono my. The expenses have been mostly for renewal of policies and the compensation to agents (not exceeding 10 percent) The incidental expenses of 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 are necessary to render a Com pany prosperous, and give it the full confidence o the public. Under the Five Years system, the Com n hnral alya icted vii aSh SurD1ug hufnp the present system, and for the last ten years, il has not expended 40 per cent of it's annual cash re ccpts 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 5 per cent. in cash and the bal 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 cstl matc therefore, correctly, the benefits which have resulted to the insured on the mutual prn- 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 aggregate of Sl7O, $50 80. Deducting the losses and expenses, 1881, ,l2s.759 and the balance. exanple. a detached risk, at 40 cents on $100, less than onc-fftn of the premiums has been sed-making the insurance cost less than cents on that sum for each year.
 The Financial Summary of the operations and condition of the Company, after twenty-six years ot experience. are the best arguments which can be adduced in favor of the system of Mutual Insurance, and should satisfy the most incredu Ions that it is both profitable and reliable, when judiciously managed, and at the same time, sus- aims the eminent responsibility of the Company, its claims to public confidence, and it's adapta- tion to the circumstances of our community, for such risks as can be legitimately assumed by the Company.
 In behalf of the Directors,
 J. G. BEcKwIrH, Prest
 OFFICERS OF THE COMPANY FOR 1859-6O.-J G. Beckwith President; J. Whiting, Secretary G C. Woodruff, Treasurer Sheldon Osborn, General Agent.
 Directors-J. G. Beckwith, Jason Whiting, Seth T. Beers A. S. Lewis. Sheldon Osborn, Abijah Catlin, Cha's Adams, H. R. Colt, Philip s. Beebe.