Litchfield enquirer., 1861-05-02

of any kind against them.
 They have never made an assessment, and dur ing the past year, have made dividend of 0 per cent. on their renewal of policies of insurance which 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 g 800 of property Hence there can be no apprehension of any future assessment. The funds of the Company are loan ed on bonds and mortgages, and other securities where they can be made available at al.y time
 For the prevention of fraud, and as d prutec tion against over insurance. the Company pa, hrec to"rths of the cash value of buildings which is usually, (deducting the foundation.) the full value of the property destroyed-and also, the full cash value of all partial losses on buildings and on all personal property contained therein, within amount of the insurance. TEe Company have inserted in their stereotyped policy" a pro vision, by which, in any case of disagreement in relation to the loss damage sustained by the ill sured, the questions arising therein shall be sub mitted to three judcious and dsinterested per sons as arbitrators, selected in the usual way by both parties; or if either party neglects to al- point, it shall be the duty of ths Judge of Probate qualified to act, to make such appointment, whose award in writing, after fair hearing, shall be final This has been found just, prompt, and very satisfactory method of adjusting all claims oi doubtful character avoids all litigation, and is not expensive. The financial affairs of the Com pany have been managed with the most rigid economy. The expenses have been mostly for newal of policies and the compensation to agents, (not exceeding 10 per ccnt.) The incidental ex- penses of rent, postage, and other services, have not exceeded seventy dollars perannum The Lis tory of the Company exhibits the fact that stren th and eminent responsibility are necessary to render Company prosperous, and give it the full conti- depce of the public. Under the Five Years sys-
 
 plus but under the present system, and for the 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 tLey receive 5 per cent. in cash, and the balance in notes--present ing & large amount in notes as capital. Our Com 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 recty, the benefits which have resulted to the in 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 notwithstanding an aggregate of S165,- 23676 Deducting the losses and expenses, 1884, l27 .3l , and the balance, $151 ,10945 has been saved-thus taking as an example, detached risk, at 40 cents on $1O0, less than one-ftth of
  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 judiciously managed, and at the same time, sustains the emi nent responsibility of the Company. it's claims to public confidence, and its adaptation to the cir cumstances of our community, for such risks as can be lcgitimately assumed by the Company. In behalf of the Directors,
 J. G. BECKWITH, President. l OFFICERS OF THE COMPANY FOR 1o6O-61: J. G. Beckwith. President; J. Whiting, Secretary G.. c. Woodruff, Treasurer; Sheldon Osborn, Gener- al Agent
 Direetors-J. G. Beckwith, Jason Whiting, Seth P. Beers, A. s. Lewis, Sheldon Osborn Abijah Catlin, Cha's Adams, H. R. Colt, Philip S. Beebe.