Litchfield enquirer., 1861-01-10

The Company have no unpaid losses nor claims of any kind against them.
 They have never made an assessment, and dur ing the past year, have made dividend of 10 Der 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, ill any contingency, in wolves the loss of more than $2, 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 aly time.
 For the prevention of fraud, and as a protec- ton against over insurance the Company pay Mree fourths of the cash value of buildings which is usually, (deducting the foundation,) the full value of the property destroyei--and also, the full cash value of all partial losses on buildings and on all personal property contained therein within amount of the insurance. Tkc Company have inserted in their stcreotyped policy" a pro vision, by which, in any case of disagreement in relation to the loss damage sustained by the in sured, the questions arising therein shall be sub mtted to three malicious and disinterested per sons as arbtrators, selected in the Us ual way Ly both parties; or if either party neglects to ap- point it shall be the duty of the 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 of
 
 not expensive. The financial affairs of the Com pany have been managed with the most rigid economy. The expenses have been mostly for re- ncwal 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 the Company exhibits the fact that stren tn and eminent responsibility are necessary to render a Company prosperous and give it the full conti- dencs of the public. Under the Five Years sys- tenn, the Company barely existed with a cash sur plus :, but under the present system, and for the last ten years, it has not expended 40 per cent ot it's annual cash recei pts, and has become one of the strongest Companies in tbe 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--prcsent- ing large amount in notes as capital. Our Con- pany have contcnted themselves with charging only the amount usually charged by Stock Com panics, 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 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 cesh received-making an aggregate of S1S5,- 236.76. Deducting the losses and expenses, 1884, 127.31, J and the balance, Sl51, 45 has been saved-thus taking as an example, detached risk, at 40 cents on S10G. less than one-ffth of the premiums has been used making the lnSuI- 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- ricuce, the bost 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, its claims to public confidence and its adaptation to the cir cumstances of our community, for such risks as can be lcgtimately assumed by tine Company.
 In behalf of the Directors
 J. G. BECKWITH, President.
 OFFICERS OF THE COMPANY FOR 1s6O-61: J. G. BccEwith. 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.
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