Litchfield enquirer., 1860-03-01

lnesCompahy nave no unpaid losses nor cIatfBS of any kind 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 pJescLt year, and probably for tie future.
 They have bylaw which prevents the assuT- ing of any rick, which, in any contingency. in- wolves the loss of more than $2 500 of property. 4 Hence there can be no apprehension of any fy
 ture assessment. The funds of the Company { 5pap 1 loaned on bonds and mortgages, and other thFouI ritics where they can be made available aoolv ma time. "y " For the prevention of fraud, and as protowlsdgs against over insurance, the Company pay
 ,01rths of the cash value of bnildings. which
 ally, (deductng the foundation. ] the full vaIlg' the property destroyed-and also, the full eAoa't value of all partial losses on buildings and on personal propertyicontnined therein within amOu,onn of the insurance. The Company have inserted | their stereotyped policy a provision by which,
 in any of disagreement in relation to the losS or damage sustained by the insured, the questions arising therein shall submitted to three judicious and disnterestcd persons arbtrators, selected a the usual way by both parties or If either party of Probate qualified to act, to make such appoint ment, whose award in writing aftera 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 not expensive. The financial affairs 0f the CoSs- pany have been managed with the mostSigid econO- my. The expenses have been mostly for renewal of policies and the compensation to agents, (not exceeding 10 percent.) The incidental expenses of rent postage and other services, have not excetd. 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 t the full confidence of the public Under the Five Years system, the Com pany barely existed with cash surplus but under the present system, and for the last ten yeaSs tt has responded 40 per cent of it's annual cnah re- cepts, and has become one of the strongest COmps- nies in the State. Other mutual Companies charge from 5 to 10 per cent. on the property insured en which they receive per cent in cash and the bal. ance in notes-prcsenting 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 esti- mate, therefore, correctly, the benefits which have resulted to the insured on the mutual prin- ciple, we have only te add the cancelled and us. cancelled premiums charged on the books of the Company with the cash received--maEinx es aggregate of $l70 $50 80. Deducting the iossea and expenses, 1881 128,75,) and the balance. $139. 205. has been saved-thus taking as aa example, a'detached risk, at 40 cents cS e100, less than one-ffth of the premiums has bssn matchmaking the insurance cost less than cents on that sum for each year.
 The Financial Summary of the operations and condition of the Company, after twspty-sIx years o1 experience, are the best arguments which can be adduced in favor of the system of Mutual Insurance, and should satisfy the most incrcdu~ lous, that it is both profitable and reliable, when judiciously managed, and at the same time, sus- aims the eminent responsibility of the Company, it's claims to public confidence. and It's edspta- ton to the circumstances of our community, tog such risks as can be legitimateIy assumed by the Company.
 AA '-' J. c. BEcKvITu, PSes't.
 orrrcERs OF THE COMPANY FOR 1659-60-J. c. pacIw J with. President; J. Whiting, Secretary; O.. = woodruff, Treasurer Sheldon Osborn, General - Dirsctors-J G. Beckwith, Jason Whiting, Seth r. Beers A. s. Lewis, Sheldon Osborn, Abjiah, Catlin, Chas Adams, H. R. Colt, Philip s. Bssbs.