Litchfield enquirer., 1860-02-02
s4s. .86o. 21 s121 600 5o So. o.IoI.4ss

S.O,ooo.-- ~i- - Of the amount of Cash received for
 Premiums. ..........' S4o'ooV'@A There has been paid for
 losses and expenses to
 tnlS tl1Re e.......... S0l ,Izo.IO
 For Dividend of 10 per ct
 paid on years renewals s4712-S31 ,475.sI Which deducted from the Cash receipts Amount received for in
 terest on loans last year S1 ,0l2.19
 Due from Agents and
 Cash deposited. ..... 3,25s S3- $4,So0.S2 Cash Funds s2l .ss4 S Of the amount charged on the books. s12l ,69O.6 69 there has been cancelled. ......... 95,53O.SS balance Ce...................... SZO,IDS It Which, with the Cash funds. ........ 2l ,6s4 9G And money loaned as above,
 Makes an available Capital of. ....... s47. .s44.G7 RECEIPTS AND EXPENDITURES FOR THE YEAR 1S5s-6s: Received for premiums, deducting divi.
 dend $4 .Hieeee--.-- Received for interest on loans last year 1.1+frsS
 s5.4ss.2s Deduct Losses and Expenses. ....... 2,T23.03 bti'AIS iSnuiilliS IO uiil S-ff IVs<S Or the Property insured. ......... go, 104, ,4s8 There has been surrendered, mostly by
 expiration ot policy. SC, ,5G9, 1C4 Remaining still insured .s2. .5S5 g.
 The.Company have no unpaid losses nor claims of any kiAd against them.
 They have never made an assessment. and dur ing the past year, have paid dividend Of 10 per If,f ,li,.i. which they will continue through the prescott year, and probably for Il futuIe.
 They have bylaw which prevents the assur- ing of any risk, which, in any contingency, in- wolves the loss of mere than S2, zoo of property. Hence there can be apprehension of any fu- ture assessment. The fumes of the C. mpany arc | loaned on bonds and mortgages, and other secu- fitles where they can be made available at any time.
 For the prevention of fraud, and as n protection aSalnst over insurance, the Company pa, hTee- /ourahs ot the cash value of buildings which is usu any tdeducting the foundation the full IaIu. of thH property dcstroyed-nnd also the full cash Value of all partial losses on buidnps and ,n ali personal property contained therein within amurnf ot the insurance. The Cofp!,..y nave inserted in their stereotype1 policy a provision by which, in any case disagreement in relation to the loss or damage sustained by the insured. the questions arising therein shall be submitted to three udcions and disnterested persons arbitatOrs selected in the usual way by both parties; or if either party negects to appontit shall be the duty of the Judge of Probate qualified to act to make such appopt- ment, whose award in writing. after fair hearing, shall be final This has been found just prompt and very satisfactory method of adjusting all claims of doubtful character avoids all litigation, and is expensive. The financial affairs Oi 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 perccnt.) The incidental expenses of rent, postage and other services have not exceed. T flu, doll 4 Company exhibits the fact, that strength and emi- nent responsibility are necessary to render Com. pany prosperous. and give it the full confidence of thepublic. Under the Five Years system, the Com. pany barely existed with cash surplus but under the present system. and for the last ten years 1t has not expended 40 percent of its annual cash re- ceipts and has become of the strongest C. mpa- nies in the State. Other mutual Companies charge from 5o 10 per cent. on the property insured on which they receive per cent in cash and the bal. ance in notes-presenting a large amount in notes as capital. Our Company have contented them. elves 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 aggregate of Sl70 $50 80 Deducting the losses and expenses, (S3l 128.75.) and the balance, Sl39. .a22 O5. has been saved-thus taking us an example, detached risk, at 40 cents on S1OO, less than one-iftn of the premiums has been matchmaking the insurance cost less than 8 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 ltguments 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, its claims to public confidence, and its adapta. ton to the circumstances of our community, for such risks as can be legtimately assumed by tho Company.
 In behalf of the Directors,
 J. o. BEcKwIrH, Pres't,
 OFFICERS OF THE COMPANY FOR 1859-60-J c, Beck with, President; J. Whiting, Secretary e. c. Woodruff, Treasurer Sheldon Osborn, General Agent.
 Directors-J. G. Beckwith, Jason Whiting. Seth F. Beers, A. s. Lewis, Sheldon Osborn Abijah Jatlin, Chas Adams, H. R. Colt, Philip S. .s,eebe. F sAoLG11l no Hna Q4~-