Litchfield enquirer., 1860-10-25

Tho Company have no unpaid losses nor claims of any kind against them.
 They have never made all assessment, and dur ing the past year, have made dividend of 10 per cent on their renewal of policies of insurance. 1 which they will continue through the present year, and probably for the future
 They have bylaw which prevents the aSsur- 1 Ing of any risk wh>h, ill any contingency, in-
 wolves the loss of more than S2,5OO ot prop rty. Hence there can be no apprehension of any future l assessment. The funds of the Company are loan
 cd on bonds and mortgages, and other securities | where they can be made available at aI.y time. | For the prevention of fraud, and as a prutec- l tion against over insurance, the Company pay
 Mree fo"rths of the cash value of buildings, which is usually, (tlcductig the toundation,) the full
 value of the property destroycd-and also, the full cash value Of all partial losses on buildings, and on all personal property contained therein, within amount of the insurance. Tie Company nave inserted in their stcrcotypcd policy pro.
 vision, by which, in any case of disagreement in relation to the loss or damage sustained by the n- sared, the questions arising therein shnl bc sub mstel to three judcious and disintercste.l per sons ;.s arbtraturs, selected ill the usual way by both parties; or if either party ncglccts to a,,- point it shall be the duty of the Judge oi Probate qualified to act, to make such appointment whose award in writing, after fair hearing, shall be
 inal. This has been found q just, prompt, and very satisfactory method of ad ustng all claims ot
 doubtful character, avoids all litigation, and S not expansive. The financial affairs of the Com pany have been managed with the most rigid economy. TEe expenses have been mostly for re- l newal of policies and the compensation to agents, juot exceeding 10 per cent.) The incidental penses of rent, postage, and other services, have | not exceeded seventy dollars per annum. The Li>- tory of the Company exhibits the fact that stren tn and eminent responsibility necessary to render d Company prosperous, and gi ve it the full cunh- dcucs of the public Under the Five Years syS- ten, the Company barely existed with cash SUI. plus but under the present system, and for tne last ten years it has not expended 40 per cent oi it's annual cash receipts, and has become one ot the strongest Companies ill the state. Other mu- tual Companies charge from to 10 per cent tue prolerty insured, on which they receive per cent in c.sl,, and the balance in notes pres -nt- ing d large amount in notes as capital Our Com pany have contcnted themselves with charging only the amount usually charged by Stock Com panies, and have not made the insured respunsl- Uc for more than they would have paid in cash.
 ill annual insurance. To estimate, therefore, COL rcctly the benefits which have resulted to the in Sured on the mutual principle. We have only to
 add the cancelled and uncancclIed premiums charged on the books of the Company with the cash notwithstanding an aggregate of $lS5,-
 ,36 76 Deducting the losses and expenses, ($34,- l27 3l , and the balance, $l5l, lO9. 45 has been savcd-thus taking as an example, detached risk, at 40 cents on SlO0 less than one-hitii oi l the premiums has been used making the insul- ance cost less than cents oll that sun tor each year.
 The Financial Summary of the operations and condition of the Company, after 27 years of c1pe- rience, are the best argument which can be a'l- duce in favor of the system of Mutual Insurance, ana should satisfy the most incredulous, that it is both profitable and reliable, when judicionsiy
 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 lcgitimately assumed by the Company. In behalf of the Directors,
 J. G. BECkWTrH, President.
 OFFICERS OF THE COMPANY FOR le6O-6l: J. C. Bcckwith, President J. Whiting, Secretary G. C. Woodruff, Treasurer; Sheldon Osborn, Gener- l al Agent. lss.
 | -Directors-J. G. Beckwith, Jason Whiting, Seth P. Beers, A. $. Lewis, Sheldon OsLorn. Abjah Catlin, Chas Adams, H. R. Colt, Philip s. Beebe.