Litchfield enquirer., 1861-07-11

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 per cent on their renewal of policies of insurance. which they will continue through the present year, and probably for the future
 They have by-laM which prevents the assur- ing of any rick, whi> h, n any contingency, in yolu.- enc loss of more than S2 5UU of property. ftence there can be apprehension ot any future assessment The funds of the Company are loan ed OH bonds and mortgages and other securities where they can be made available at a,.y lime For the prevention of fraud, and as n pr,,tec- tion against over Insurance. the Company pay hrte to"rths of the casif value ot buildings which is usually, ldeducting the founCation.l the full Salus e,s rg a ptssgT % s Taal Iosss % ba l and on all personal piopcrty contained therein within amount of the lsu, ance Tie Cmn,,r. have inserted in tl'eif' stcreotypcd trifcy a Ino vision. by w:,ich ill any ease of disagreement in relation to the loss O damage sustained by the in 1 sured the questions arising therein shall be sub mitted to thrse juitious and tlisntercstcd per sons as arbitr,tnls. selected in the usual Way by both parties pr if either party hc=lccts to ai point, it shall be the duty of th J,hsc of Probate qualified to acs to make suc! appointment, whose award in writing after d iair hearing, shall be final. This lsS been found just, prompt, and very satstactoy method of adjusting all claims of a doubtful chaacter. avoids ali litigation, and is | not expenSivcI The financial affairs of he Com pany have bcfn managed with the most rigid economy. The expenses have been mostly for re- newal uf 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 are necessary to render a 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 Comraiies in the state. Other mu- ! tual Companies char;e from to 10 per cent. on the property insured on which tLev receive per cent. in cash. and tie balance in notes--present ing large amount l, notes as capital. Our Con- pany have contented themselves with charging only the amount usually charged by Stock Com panies, and have ngt made the insured rcsponsi- ble for more than tley would have paid in cash, in annual insurance TG estimate, therefore, cor rectly, the benefits which have resulted to the in- surctl on the mutual principle. we have only to add the cancelled and uncancelled premiums charged on the boess of the Company with the cash received-malfng an aggregate of SlS5,- 236.76. Deductingthe losses and expenses, ($34,- 127. .31 ) and the btlanoe, Sl51 ,109.45 has been saved-thus taking as an example, detached risk, at 40 cents ol Sl00. less than fifth of the premiums has iccn ,iscd--rnaking the insul- ance cost less thanS cents oh that sum for each l year.
 The Financial Summary of the operations and condition of the Company. after 27 years of expe- rience. are the bes argument which can be ad- | duced in favor of tie system of Mutual Insurance, and should satisfy the most incrcdulous, that it
 is both profitable md reliable, when jndiciously managed, and at tie same timc sustains the emi nent responsibiitlof of tie Company its claims to public confidence, land Its adaptation to the cir cumstances of our community, for such risks as can be legitimatek assumed by the Company.
 In behalf of theDirec;ors,
 Jl c. HECKWITH, President.
 OFFICERS OF THi COMPANY FOR 1360-61: J. G. Beckwith. Presidhy; J Whiting. Secretary G. C. Woodruff, Trealreri Sheldon Osborn, Gener- al Agent.
 Directors-J. G. Feckvith, Jason Whiting Seth P. Beers, A. S. Hwis, Sheldon Osborn. Abijah Catln, Cha's Adam, H, R. Colt, Philip s. Beebe.
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