Litchfield enquirer., 1860-12-27

They have never made an assessment and dur ing the past year, have made dividend of 10 Der cent on their renewal of policies of insurance winch they Will continue through the present year, and probably for the 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 nrortrtv Hence there can be no apprehension of any future assessment. The funds of the Company are loan cd on bonds and mortgages, and other securities where they can be made available at any time
 For the prevention of fraud, and as q prutcc- ton against over insurance. the Comp my pay !hrc jonrf"s of the cash value of buildings, which IS usually, cdeductinS the foundation} the full value ot the property destroyed-and also. the full cash value of all partial losses on buildings. ana on all personal property contained therein, within amount Of the insurance. Tte Cunpanv nave inserted in their 'stereotyped policy" |. pro vision, by which, ill any case of disagreement in relation to the loss or damage sustained by the in- Sared, the questions arising therein shall b. sub mittcd to three judcious and disinterested per sons as arbitratoIs. selected in the usual way by both parties or if either party ncglccts to al- point, it shall be the duty of the Judge of Probate qualified to act, to make such appointment whose award Tn writing, after a fair hearing, shall be lnal. This has been found just, prompt and very satisfactory method of adjusting all claims of doubtful character, avoids all litigation and is not eNpenslve The financial affairs of the Com pany have been managed with the most rigid economy. The expenses have been mostly for re- aewal Of policies and the compensation to agents, (not exceeding 10 per ccnt.) The incidental ex- pcnses of rent, postage, and other services, have not exceeded seventy dollars per annum. The Lis toryot the Company exhibits the fact that strength and eminent responsibility necessary to render a Company prosperous, and give it the full confi- dence of the public. Under the Five Years sys tenn, the Company barely existed with a cash sur. n fha nyf f>. Sl,.
 last ten years it has not expended 40 per cent. of its annual cash receipts, and has become one of the strongest Companies in the state. Other mu- tual Companies charge from to 10 per cent. on the property insured, on which they receive per cent. in cash and the balance in notes--pressnt ing large amount in notes as capital. Our Con- pany have contented themselves with charging only the amount usually charged by Stock Con- panies, and have not made the insured rcsponsl- ble for more than they would have paid in cash, in annual insurance To estimate, therefore, cor rectly, the benefits which have resulted to the in- s9rcd on the mutual principle. we have only to add the cancelled and uncancelled premiums charged on the boek ks of the Company with the cash reccived-making an aggregate of $1S5,- 236.16. Deducting the losses and expenses, 1884 l21 .Sl,) and the balance, $l51, lO9 45 has been saved-thus taking as an example, detached risk, at 40 cents on $100, less than one-fifth of the premiums has been used making the insur. ance cost less than cents on that sum for each year.
 The Financial Summary of the operations and condition of the Company, after 27 years of expe- rience, are the bost argument which can be ad- duced 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 sane time, sustains the emi nent responsibility of the Company, its claims to public confidence, and its adaptation to the cir cumstaaces of our community, for such risks as can be lcgitimately assumed by the Company. In behalf of the Directors,
 | J. G. BECKWTTH, President OFFICERS OF THE COMPANY FOR 156O-61: J. G. Beckwith. President; J. Whiting, Secretary G. c. Woodruff, Treasurer; Sheldon Osborn Gener. al Agent.
 Directors-J. G. Beckwith, Jason Whiting Seth P. Beers, A. $. Lewis, Sheldon Osborn. Abiah Catlin, Cha's Adams, H. R. Colt, Philip s. Beebe. 13