Litchfield enquirer., 1860-05-24

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 paid dividend of 10 per cent. on their renewal of policies of insurance, which they will continue through the prescl.l year, and probably for ti.c future
 They have bylaw which prevents the assur- ing of any risk, which, in any contingency, in- wolves the loss of more than $2, 800 of property Hence there can be no apprehension of any flu ture 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 pa, thyte- fourhs of the cash value of buildings which is usu ally, ldeducting the foundation. the full value of the property destroyed-and also, the full cash vaIue oi all partial losses on buildings, and on all personal rtycontanedth therein, ,withnamount of the insurance. The Company have inserted in their 'stcreotyped policy'' provision by which in any case of disagreement in relation to the loss or damage sustained by the insured the questions arising rherein shall besubmitcd to three malicious and dsinterested persons arbitrators selected in the usual way by both parties; or if either part, neglects to apponti shall be tho duty of the udre of Probate qualified to act, to make such appoint. ment whoSe award ill writing. aftera a fair hearing shall be final. This has been found just, prompt and very satisfactory meth of adjusting ali claim of doubtful character avoids all litigation and is not expensive. The financial affairs of the Con- 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 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 cmi- ncnt responsibility are necessary to render Com pany prosperous, and give it the full confidence of thepnhlic: Under the Five Years system the Com psny barely existed with cash surplus but under the present system, and for the last ten years if has not expended 40 per cent. of it's annual cash re cepts, and has become one of the strongest Cnnpa- nies in the State. Other mutual Companies chaTr. from to 10 per cent. on the property insured on which they receive pcrcen in cash and the bal ance in notcs-presehting a large amount in note. as capital. Our Company have contentcd them.
 elves with charging only the amount usuall, charged by Stock Companies, and have not mad, the insured rcsponsi blc for more than they would have paid i'll cash, ill annual insurance. To csti mate, therefore, correctly. the benefits which have resulted to the insured on the mutual prin- ciple, VIC have only te add the cancelled and un cancelled premiums charged on the books of the Company with the cash notwithstanding an aggregate of sl7O>550 80. Deducting the losses and expenses, (S3l ,12S75.) and the balance, Sl39. .a22 05. has been saved-thus taking as an example, a detached risk, at 40 cents on slO0, less than one-fifth of the premiums has been "'e" unuS ''e h'S"fthce 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 oi experience. are the best arguments which can be adduced in favor of the system of Mutual Insurance, and should satisfy the most incredu. lous, that it is both profitable and reliable, when judiciously managed, and at the same time, sus- aims the eminent responsibility of the Company it's claims to public confidence. and its adapta- tion to the circumstances of our community, for such risks as can be legitimatcly assumed by the
 Company.
 In behalf of the Directors,
 J. G. BEcKwIrn, Pres't OFFICERS OF THE COMPANY FOR 1859-GO-J G.
 Bcckwith President; J. Whiting. Secretary G c. Woodruff, Treasurer Sheldon Osborn, General Agent. | Direc,ors-J G. Beckwth. Jason Whiting Seth T. Beers. A. s. Lewis. Sheldon Osborn, Abjah Catlin, Cha's Adams, II. R. Colt, Philip s. Becbc-