Litchfield enquirer., 1860-08-16

The Company have no unpaid losses nor claims of any kind against them.
 They have never made an assessment and dnr- ing the past year, have made dividend of lOr'E cent on their renewal of policies of insurance. which they will continue through the prcscE. year, and probably for the future
 They have a bylaw vhicb prevents the assur- ing of any risk. which. i- S1T contingency. in- wolves the loss of more than $500 ut property. Hence there can be no apprehension ot any future assessment The funds Q: the Company are luan- ed on bonds and mortgages. and other securities where they can be made available at any time.
 For the prevention of :raad. and as a protec- ton against over insurance. the Company pay isree onrths of the cash value Of buildings, which is usually, (dcducting the foundation.) the frll l value of tho property dcstroyed-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 have inser ted in their stereotypct policy apro. vision, by which, in any case of disagreement in relation to tho loss damage sustained ny the iu sured, tho questions arising therein shall bc sub mitted to three iudirious and disintercstCd per- sons as arbitratois, selected in the usual way hy both parties or if either party neglects to ap- point it shall be the duty of the Judge of Probate qualified to act to make such appointment, whose award in writing, after fair hearing, shall be npal This has been found just, prompt, and very satisfactory method of adjusting all claims ot doubtful character avoids all litigation, and is not expensive Tho financial affairs of the Com many have been managed with the most rigid economy Tho expenses have been mostly for re- newal of policies and the compensation to agents, (not exceeding 0 per cent Tho incidental ex- penscs of rent, postage, and other servlces, have not exceeded seventy dollars per annum Inc ms tory of the Company exhibits the fact that strength and eminent responsibility arc necessary to render and ri dcncs of the public. Under the Five Years sys- fem, the Company barely existed with a cash snr- nIns. but under the present system, and for the last ten years it has not expended 40 per cent Of it's annual cash receipts, and has become one Of tbe strongest Companies in the state. Other mu- tuoI Comnanies charge from to 10 per cent. on tbe nronerty insured, on which they receive per cent in cash, and the balance in notes--presenS- in0 n large amount in notes as capital. Our Com nonv have conteuted themselves with charging only the amount usually charged by Stock Com nanies. and have not made the insured responsl- ile for more than they would have paid ID casn' in annual insurance. To estimate, therefore, cor rectlv the benefits which have resulted to the in- surei on the mutual principle we have only to add the cancelled and uncancelled premiums charged on the books of the Company with the cash received-making an aggregate of SIoo,- 236 76. Deducting the losses ana expenses, tS34,- 1SS e1 , and the balance, Sl5l 1O9. 45 has been savsdNtLus taking as an example, detached si., ot 4ll cents on S1OO. less than one-ffth of ti,a n,remiums has been used making the insu.- snce cost less than cents on that sum for each year. .r .h. .,....;.r. .A condition of the Company, after v years Of expo rience are the best argument which can be ad- dnced in favor of the system of Mutual Insurance, and should satisfy the most incredulous, that it is both profitable and reliable, when judiciously and at the same time, sustains the emi- nent responsibility of the Company, it's claims to public confidence, and its adaptation to the cir- cumstances of our community, for such risks aa can be legitimately assumed by the Company.
 In behalf of the Directors,
 J. G. BECKWITH, President.
 OFFICERS OF THs COMPANY FOR 1o60-61 J. c. Bcckwith, President; J. Whiting, Secretary; G. ). Woodruff, Treasurer; Sheldon Osborn, Gouer. Il Agent. .
 Diracto,s-J. G. Beckwith, Jason Whiting. Seth ?. Beers, A. s. Lewis, Sheldon Osborn. Abijah Jatlin, Cha's Adams, H. R. Colt, Philip s. Beebe.
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