Litchfield enquirer., 1861-06-20

The Company have no unpaid losses nor clai,nS of any kind against them.
 They have never made an assessment. ant, dur ing the past year, have made dividend of lU uy, cent. on their renewal Of policies of insurance which they will continue through the present year, and probably for the future
 They have a bylaw which prevents the assur- ing of any risk, Whi>h, ill any contingency in wolves the loss of nlore than s2, 300 of property Hence there can be no apprehension oi any future assessment. The funds of the Company are l;,u ed on bonds and mortgages, and other securities where they can be made available at aly time.
 For the prevention of llau;t, aDd as Il pr,tcu- tion against oyer insurance. the Company pi, Mree fo"rths of the cash value of buildings, which Is usually, (deductiny, the foundi.tion) the full value of the property dc>troyed-;,ild also, tn. full cash value of all partial losses on buildings and on all personal property contained therein. within amount of the insurance Ile Company have Inserted in their stcrcotypcd policy" il pro vision, by which, ill any case of disagreement ill relation to the loss Or damage sustained ny the in sured, the questions arising therein shall be sub mittcd 10 three jllitious and disinter,stcd per sons arbitiatorS, selected iii the usual way Ly both parties or if either party ncgiccts to ai.- point. it shall be the duty ot tn, Jus,. ot Probate qualified to act, to l,iitke such appointment whose award in writing, after q fair hearing, shall b,. final. This has been found a just, prompt, and very satisfactory method of adjusting all claims of a doubtful character, avoids ali litigation, an. is not expensive. The financial at1als of lhe Con- pany have been managed with the most rig, economy. The expenses have been mostly for re- newal of policies and the compensation to agents, mot exceeding 10 per cent.) The incidental ex- penses of rent, postage, and other services, have not exceeded seventy dollars per annuln. The lis tory of the Company exhibits the fact that stren tn and eminent responsibility are necessary to render a Company prosperous and give it the full conti- DU,ic ha Fiya tenn, the Company barely existed with cash sur. plus but under the present system, and for the last ten years, it has not expended 40 per cent of it's annual cash receipts, and has become one of the strongest Companies in the state. Other mr- tual Companies charge from to 10 per cent on the property insured which they receive per cent. in cash, and the balance in notes-pres snt- ing large amount in notes as capital. Our Con- pany have contented themselves with charging only the amount usually charged by Stock Com panies, and have not made the insured responsl- 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 n- sured on the mutual principle. we have only to add the cancelled and uncancelled premiums charged on the books of the Company with the | cash received-making an aggregate of S185,- 23676. Deducting the losses and expenses, (S34,- 127 .31 ) and the balance, S151 ,109.45 has been saved-thus taking as an example, detached | risk, at 40 cents on S100, less than one-ffth of the premiums has been matchmaking 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 best 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 jndiciously | and at the same time, sustains the emf nent responsibility of the Company, its claims to public confidence, and its adaptation to the cir eumstances 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 1e60-61: J. G. Beckwith, President; J. Whiting, Secretary G. | c. Woodruff, Treasurer Sheldon Osborn, Gener- al Agent.
 Drectors-J. G. Beckwith, Jason Whiting, Seth | P. Beers, A. S. Lewis, Sheldon Osborn. Abijah | Catlin, Chas Adams, H. R. Colt, Philip S. Beebe.
 13