Litchfield enquirer., 1861-06-27

The Company have no unpaid losses nor claims | of any kind against them.
 They have never made an assessment, and dur ing the past yes.l, have made dividend of lU lcl cent on their renewal of policies of insurance,
 which they will continue through tie 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 than S2 ,50O of pruIrrty. Hence there can be apprehension nt any future 1 assessment The funds ot the Con,paily are loan
 ed on bonds and mortgages, and other securities 1 where they cun be made available at ally time. l For the prevention of fr:tud. and as a prutcc-
 tion against over insurailsc. thc Company pay
 fas fs as'g., f.4 yaHtts ef 1 the I onion u; M the full value of the property dc>troyesl-;,n,l also, the full cash value "l all partial losses buildings
 and on all pcrSollai property contained tIcr, in, within amount of the insurance. He Company have inserted in tliet stercot. ped policy a pro vision, by which. ill any case of dS.s srecncIt iii
 relation to the loss damage sustained by the in Sured the questions arising therein s,al lc sub
 mittcd to three iu,licious and disintcrcstcd per
 sons arbitraturs selected in the usual way by both parties; or if either party hegccts to al
 point, it shall be the duty of th Juge of Probate qualified to act. to make such appointment, whose award in writing, after a fair hearing shall be final. This has been found a just, prompt and
 very satisfactory method of duSting all claims of doubtful character, avoids all litigation and is not expensive. The financial affairs of the Com
 paliy have been managed with the most rigid
 economy. The expenses have been mostly for re-
 newal of policies and.the compensation to agents not exceeding 10 per cent.) The incidental ex-
 penses of rent, postage, and other services have
 not exceeded seventy dollars per annum The his-
 tory of the Company exhibits the fact that stren tn and eminent responsibility nee. ssary to render q Company prosperous and give it the full cont- dence of the public. Under the Five Years sys
 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 1 it's 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 5 per cent in cash, and the balance in notes-pressnt- ing large amount in notes capital. Our Con-
 pany have contented themselves with charging only the amount usually charged by Stock Com
 panies and have not made the insured respUnSl- 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- l 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 aggregate of SlS5,- 236.16. Deducting the losses and expenses ($34,- l21.3l,) and the balance, Sl5l, 109.4 45 has been | saved-thus taking as an example, detached
 risk, at 40 cents on S100, less than one-fifth of | the premiums has been matchmaking the insur- ance cost less than cents or that sum for each l year. 1 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 incretlulous, that it
 is both profitable and reliable, when jndiciousiy
 managed, and at the same time, sustans the emi nent responsibility of the Company, its 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. c. BECKWITH, President OFFICERS OF THE COMPANY FOR 136O-61: J. G.
 Beckwith. President; J. Whiting, Secretary G. c. Woodruff, Treasurer; Sheldon Osborn, Gener- al Agent.
 Direaors-J. G. Beekwith, Jason Whiting, Seth P. Beers, A. s. Lewis, Sheldon Osborn. Abjah Catlin, Chas Adams, H. R. Colt, Philip s. Beebe. | 13