Litchfield enquirer., 1860-02-09

The..Company have no unpaid losses nor claims of any kiLd 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 present. year, and probably for tle future
 They have bylaw which prevents the assur- ing of any risk, which, in any contingency in- wolves the loss of more than S2, 500 of property. Hence there can be no apprehension of any fli- 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 protection against over insurance, the Company pay thJss- iourhs of the cash value of buildings which is usu ally, deducting the foundation) the full value of the property destroycd-and also, the full cash value of all partial losses buildings and on all personal prOpertyicontainedt therein, within amount of the insurance. The Company have inserted in their " stereotyped policy"a provision. by which. ill any of disagreement in relation to the loss or damage sustained by the insured the questions arising therein shall besubmitted to three malicious and disnterestcd persons arbtrators selected in the usual way by both parties or if either party ncglects to appoint shall be the duty of the Judge of Probate qualified to act, to make such appoint ment, whose award in writing after fair hearing, shall be final This has been found just, prompt, and very satisfactory method of sli of doubtful character, avoids all litigation. and is not expensive. The financial affairs of the Com pany have been managed with the most rigid ecopo- my. The expenses have been mostly for renewal of policies and the compensation to agents, (aOt exceeding 10 percent.) The incidental expenses of rent, postage and other services have not excecd- ed seventy dollars per annum. The history of the Company exhibits the fact, that strength and emi- nent responsibility are necessary to render Com pany prosperous, and give it the full confidence of the public. Under the Five Years system the< om. pany barely existed with cash surplus but under the present system, and for the last ten years it has not expended 40 per cent of it's annual cash re- ceipts and has become one of the strongest Compa- nies in the State. Other mutual Companies charge from 5 to 10 per cent on the property insured, on which they receive per cent in cash, and the bal. ance in notes-presenting large amountin notes as capital. Our Company have contented them selves 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 csti- mate, therefore, correctly, the benefits which have resulted to the insured on the mutual prin- cple,. we have only to add the cancelled and un- cancelled premiums charged on the books of the Company with the cash received-making m of $170,55OS 30. Deductng the lossex and expenses, ($3l ,12S.75) and the balance. $l39. .O5. has been saved-thus taking as an example, a detached risk, at 40 cents on s1O0, less than one-ffth of the premiums has been the insurance cost less than g 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- ous, that it is both profitable and reliable, when udiciously managed, and at the same time, sus- .ins the eminent responsibility of the Company, ts claims to public confidence, and it's adapta- ion to the circumstances of our community, for uch risks as can be legitimately assumed by the Company.
 In behalf of the Directors,
 J. G. BEcKwrrH, Pres't.
 OFFICERS OF THE COMPANY FOR 1859-6O-J. a. ,ockwith, President; J. Whiting. Secretary; e. }. Woodruff, Treasurer Sheldon Osborn. General Agent.
 D5ectors-J. G. Beckwith Jason Whiting. Seth ,. Beers, A. s. Lewis, Sheldon Osborn. Xbi;sh atlin, Cha's Adams, H. R. Colt, Philip s. Beebs