Litchfield enquirer., 1861-05-30

The Companvtave no unpaid losses nor claims
 of any kind aglnst them.
 1 They have ever made an assessment, and dur ing the past t/ear, have made dividend of lOpcr ] cent on thfr renewal of policies of insurance which the7 will continue through the present
 year, andprobably for the future
 They lave bylaw which prevents the assur- ing of .ny risk, which, in any contingency, in volyeJ the loss of more than S2, 800 of property
 Hepe 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 aLy time.
 For the prevention of fraud, and a prutec- tion against over insurance, the Company pay Mree fourhs 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. Tie Company have inserted in their stereotyped policy pro
 vision, by which, in any case of disagreement in relation to the loss or damage sustained by the in sured, the questions arising therein shall be sub mitted to three judieious and disnterested per sons arbitrators, selected ill the usual way by both parties; or if either party neglects to al.- point, it shall be the duty of the Judge of Probate qualified to act, to make such appointment, whose award in writing, after a 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 of the Con- pany 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 lis tory of the Company exhibits the fact that strcn tn and eminent responsibility are necessary to render Company prosperous, and give it the full coni- 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 it's annual cash receipts, and has become one of the strongest Companies in the state. Other mu- tual Companies charge from 5 to 10 per cent. on the property insured, on which they receive 5 per cent in cash, and the balance in notes--present- 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 respons- 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- 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, sl51, ,109.45 has been risk, at 40 cents on $100, less than ne-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 iucredulous, that it
 is both profitable and reliable, when judiciously
 managed, and at the same time, sustains the emi
 nent responsibility of the Company. its claims to public confidence, and it's adaptation to the cir cumstances of our community, for such risks as can be legitimately assumed by the Company. In behalf of the Directors
 J. G. BECKWITH, President OFFICERS or THE COMPANY FOR 1860-61: J. G. Beckwith. President; J. Whiting. Secretary G. Q. Woodruff, Treasurer Sheldon Osborn, Gener- | al Agent
 1 Direetors-J. G. Beckwith, Jason Whiting. Seth P. Beers, A. S. Lewis, Sheldon Osborn, Abiiah catlin, Cha's Adams, H. R. Colt, Philip s. Beebe l3