Litchfield enquirer., 1861-02-28

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 a bylaw which prevents the assur- ing of any risk, which, in any contingency, in wolves the loss of more than S2 800 of prop, rty 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 ar.y time.
 For the prevention of fraud. and as d prutec- tion against over insurance, the Compaiiy ,my
 three Jourths of the cash value of buildings which Is usually, (deducting the foundaion} the fnll value of the property destroyed-and also, the full cash value of all partial losses on buildings and on all personal property contained thrr, h. within amount of the insurance Tie Company have inserted in their screotyped policy" pro vision, by which, ill any case of disas emeut in relation to the loss or damage sustained by the in sured, the questions arising therein shall be sub mitted to three judicious and dsintcrcsted per sons as arbtrators, selected ill the usual way by both parties; or if either party ,eplccts to aI- point it shall be the duty of the Jutgc of Probat, qualified to act, to make such appointment, whose award in writing, after fair hearing. shall b., 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 atfails of he 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 ccnt) The incidental cx- 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 in and eminent responsibility necessary to render 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 Dot expended 40 Der cent of its 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 u ey receive per cent. in cash, and the balance in notes--pres .nt- ing large amount in notes as capital Our Com pany have contented themselves with charging only the amount usually charged by Stock Conl- panles, and have not made the insured respnnsl- b!e 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 $l85,- 236.76 Deducting the losses and expenses, 1884, l27.3l J and the balance, Sl5l ,1O9.45 has been saved-thus taking as an example, detached risk, at 40 cents $l00. less than one fifth of the premiums has been used making the insu,- ance cost less than s 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 judiciously managed, and at the same time. sustains the emf 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 iegitimately assumed by the Company.
 In behalf of the Directors.
 J. G. BECKWITH, President.
 OFFICERS OF THE COMPANY FOR 1660-61: J. c. Beckwith. President; J. Whiting, Secretary; G. C. Woodruff, Treasurer; Sheldon Osborn, Gener- al Agent.
 Directors-J. G. Beckwith, Jason Whiting, Seth r. Beers, A. s. Lewis, Sheldon Osborn. Abijah Catiin, Cha's Adams H. R. Colt, Philip s. Beebe.