Litchfield enquirer., 1861-06-13

1S43 to 1S4S 4098.63 15,4706l 743.320 lS4s to 1851. s.1o9.91 6,23006 e00,9-6 1851 to 1854. 9,gl3.30 19.S62G1 1.Sl5,217 1854 to 1857 14, 4,339.59 2S,679l9 2,520 952 1857 to 1860 14,345.31 27,4l670 2,74l ,67e
 s54.14617 s1s1 G9o. .5s s9. .so6, 15s Of the amount of Cash received for
 Premiums S54, l46.17 There has been paid for
 losses and expenses to
 this time. S54, lZI .ol Dividends of 10 per ct.
 paid on years renewals 641 .80-S34 769.11 Which deducted from the Cash receipts Amount received for in-
 terest on loans last year S1, ,1o7.OO
 Due from Agents and
 Cash deposited. ..... 4,563.3O- s5,75O 30 Cash Funds. s25. .456. 36 Of the amount charged on the books sl3I ,O9O 95
 there has been cancelled. ........ iG3 ,4G9 S8 Which with the Cash funds. ........ !s27, ,62l. Or And money loaned as a ove. e.......... 25, ,4o6 36 Makes an available Capital to meet
 losses. s....................... s53. or 4s RECEIPTS AND EXPENDITURES FOR THE YEAR 1o59-6O Received for premiums, dcducting
 -diVlaena ...'. .-.''.... si' ooo-Jo Interest account. ................. ,lS1 co
 . s5, 572 96 Deduct losses and expenses. .......... 7, 9o6.oo Balance resulting to Fund. ........ s2. 564. 40 Of the Property insured. ........... S9 9O6, l 5 There has been surrendered. ...... 24o, ,9.J
 Leaving still insured. . S2. .G57 174
 Tine 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 0 De! 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, which ill any contingency in, wolves the loss Of more than S2 ,oO0 oi property. Hence there can De np apprehension ot any Juturc assessment The funds ot the Company are lan ed on bonds and mortgage and other securities where they can be made available Ut aiy time. For the prevention Of i!ullI. aud as d truteu- tion against over iitsitEstilee, the Company pay hrtc foa1iiS of the casli value oI buildings which is usla!y, (sledHctiug the founlatoiI) the full Value ot the property des estruyed-;t!id a.sO, tEc full cash value oi !tii partial losses buildings, and on all personal property contained tH~rein,
  have inserted in their " stcrcu. yFed pucy' q pro visiun by w!lic ill any case of dsag leculent i.. relation to the loss damage sustained by the in- sured. the questions arising therein slai G,e sHb- mittcd to three udiriuus and disi.ltGrt stcd per sons as arbitratars, selected in tlIe usual way by both parties if either party ncglccts to at.- point, it shall be the duty of th Jusc Of Probate qualified to act, to make such appointment, whose award in writing, after q fair hearing, shall be final Ihs has been found 2 just, prompt, and very satisfactory method of adjusting all claims of doubtful charactef, avoids all litigation, and is not expensive. The financial affairs of he Com pany have been managed with the most ligid l economy The expenses have been mostly for rc- 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 pert annum The his tory 0f the Company exhibits the fact that sren th and eminent responsibility are necs ssary to render a Company prosperous, and give it the full conii- dence 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 10 per cent of it's annual cash receipts, and has become one of the strongest Companies ill the state. Other mu- tual Companies charge from to 10 per cent on | the property insured, on which tLev receive per cent in cash, and the balance in notes--pres ent- ing large amount in notes capital. Our Com pany have contented themselves with charging only tue amount usually charged by Stock Com panies, and have not made the insured responsI- 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- surcd on the mutual principle. we have only to 1 add the cancelled and uncancellcd premiums | charged on the books of the Company with the cash received-making an aggregate of $l95,- 236I6. Deducting the losses and expenses (S34, 127 .3l, J and the balance, Sl51, ,1O9 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 on that sum for each | year.
 | The Financial Summary of the operations and condition of the Company. after 27 years of expe- | rience, are tie 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 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 OF THE COMPANY FOR 1S60-61: J. G. Beckwith, President J. Whiting, Secretary G.. c. Woodruff, Treasurer; Sheldon Osborn, Gener- al Agent.
 | Directors-J. G. Beckwith Jason Whiting, Seth P. Beers, A. s. Lewis, Sheldon Osborn Abijah Catlin, Cha's Adams, H. R. Colt, Philip $. Beebe. The Early Lights of the Litcil-
 field Bar.