Litchfield enquirer., 1860-03-22

ThesCompany have no unpaid losses nor claims of any kind against them
 They have never made 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 Il c future
 They have bylaw which prevents the assur- ing of any risk, which, in any contingency, in- wolves the loss of more than s2, 800 of property. Hence there be no apprehension of any flu. ture assessment. The funds of the G mpapy are loaned on bonds and mortgages, and other srcu- rites where they can be made available at any time.
 For the prevention of fraud and as . protection against oyer insurance the Company pay fhr"- ,ourths of the cash value of buildings which is usu ally, (deducting the foundation the fuil value of the property destrQyed-and also, the full cash value of all partial losses buildings and on all personal propertycontainedt therein, within mount ot the insurance. The Company have inserted iA their 'stereotyped policy provision by which in any case of disagreement in relation to he loss or damage sustained by the insured the questions arising therein shall besubmited to three malicious and disnterested persons arbitraors selected in the usual way by both parties; or if either party negects to appoint shall be the duty of the udRe of Probate qualified to act. to make such appoint ment, whosc award in writing. after fair hearing shall be final. This has been found just prompt and very satisfactory method of adjusting ali claims of doubtful character, avoids all litigation, and Is uOt eXPeDSlNe lhe HHanC lal aNQlrS Of the Com pany have been managed with the most rigid ccone- my. The expenses have been mostly for renewal of policies and the compensation to ascnts inot exceeding 10 pcrcent.) The incidental expenses of rent, postage and other services have not exceed ed seventy dollars per annum. The history of the Company exhibits the fact, that strength and mi nent responsibility are necessary to render Com- pany prosperous and give it the full confidence of the public. Under the Five Years system the Com- pany barely existed with a cash surplus but under
 the present system and for the last ten years 1t
 has not expended 40 per cent of it's annual cash
 ceipts and has become one of the strongest Cunpa,
 nies in the State Other mutual Companies charge from to 10 per cent on the property insured On which they receive per cent in cash and the bal. ance in notes-presenting large amount in notes as capital. Our Company have conteDted them selves with charging only the amount usuallv 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,5 we have only to add the cancelled and un. cancelled premiums charged on the books of the Company with the cash received-nakinr m aggregate of Sl70, $50 SO. Deductihg the iosses and expenses, tsSl,12S.75,) and the balance. S139. S22 05. has been saved-thus taking as au example, detached risk, at 40 cents oi slOO. less than one-6ftn of the premiums has bee1 used making the insurance cost less than q cents on that sum for each year, ' 8Ts
 The Financial Summary of the operations and condition. of the Conpany. after twenty six years oi experience. the best argume ents 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- tion to the circumstances of our cemmunity, fot such risks as can be legitimately assumed by the Company. ..-i.-., ...-f .-rf i..-s
 In behalf of the Directors, |, rl l,.,-l.,s..
 fI17 J. G. BEcKwrrh, Pfes't.s
 OFFICERS OF THE COMPANY FoR 1859-6O- y. a. Rect with. President; J. Whiting. Secretary (s' c Woodruff, Treasurer Sheldon Osborn, General 1birscsors-J. c. Beck with. Jason Whiting. s.th r. Beers, A. S. Lewis, sheldon Osborn. AbiiaE catlin, Cha's Adams, H. R. Colt, Philip S. Beebs