Litchfield enquirer., 1860-10-18

l The 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
 which they will continue through the present year, and probably for the future
 They have b, law which prevents the aSsur | ing of any risk, which, i'll any contingency, in-
 wolves the loss of than s2, 800 of prop rty. Hence there can be nu apprehension of any future | assessment. The funds of the Company are l,an
 el on bonds and mortg gases, and other securities | where they can be made available at aI.y tune. For the prevention of fraud, and 'protcc- l ton against over insurance, the Company pay Mr.c to"rhs of the cash value of buildings, which
 is usually, (deducting the foundation,} the full
 value of the property de>troyed-and also, tn,
 full cash value of all partial losses on buildings, and on all personal property contained therein,
 within nulount of the insurance. IEe Company
 have inserted in their stercotyped policy apro
 viSi"n by which, ill any case of dis.g grccment l.,
 relation to the loss damage sustained by the in
 sure, the questions arising therein shall be sub
 mittcu to three judicOus and disnterested per sons arbitrators, selected ill the usual Way by both parties or if either party nylccts to az point, it shall be the duty of tiv Jutge o Probate qualified to act, to make such appointment, whose award i'll writing, after t,sir hearing, shall be inal. This has been found just, prompt, and very satisfactory method of ad usting all claims oi | doubtful character, avoids ull litgation and is not expensive. The financial affairs of he Com lMny have been managed with the most rg' ! ecoIlomy. The expenses have been mostly for re- ncwal of policies and the compensation to agents (nut exceeding 10 per ccnt.) The incidental ex- penscs of rent, postage, and other services, have not exceeded seventy dollars per annum. The bis tory of the Company exhibits the fact that strcn tn 1 and eminent responsibility necessary to render
 d Company prosperous and give it the full conll- dcncs of the public. Under the Five Years sys- tenn, the Company barely existed with c;.sh sur. plus but under the present system, and for the i.st ten years it has not expended 40 per cent o1 it's annual cash receipts, and has become one oi l the strongest Companies in the state. Other mu- tual Companies charge from to 10 per cent on the property insured, on which tie! receive 5 per cent. in cash and the balance in notes--present- ing q large amount ill notes as capital. Our Com pany have cuntented themselves with charging only the amount usually charged by Stock Com p.nieS, and have not made the insured rcsponsl- blc for more than they would have paid in cash, 1 in annual insurance. To estimate, therefore, COT rcctly, the benefits which have resulted to the in surcl on the mutual principle. We have only to add the cancelled and uncancclled premiums charged on the books of the Company with the clsh received making an aggregate of Sl85,- 1 23676 Deducting the losses and expenses, t$34,- 127.3l J and the balance, Sl5l lO9.4 45 has been saved-tlus taking as an example, d detachel risk, at 40 cents on $lOO less than one-ttth of the premiums has been used- making the iIleu, alcc cost less than cents Oh that sum for each year.
 The Financial Summary of the operations and condition of the Company, after ~ years of expe- rience, are the best argument which can be ad- | duce.i in favor of the system of Mutual Insurance, and should satisfy the most incredulous, that it is both profitable and reliable, when judiciously managed, and at the same time, sustains the emi nent 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 uf the Directors 1
 J. G. BECkWTTH, President l
 OFFICERS OF THE COMPANY Fon 1S60-61: J. G. l Bcckwith. President; J. Whiting, Secretary; c. l C. Woodruff, Treasurer; Sheldon Osborn, Gener- l al Agent
 Directo,s-J. G. Beckwith, Jason Whiting, Seth l F. Beers, A. s. Lewis, Sheldon Osborn. Abijah Catlin, Cha Adams, H. R. Coit Philip s. Becbc.