Litchfield enquirer., 1861-03-21

The Company have no unpaid losses nor claims
 of any kind against them. '''''i>
 1ney nave never made an assessment and 1pr-
 Ing the past year, have made dividend of l0 na,
 cent on thelr renewal of policies of insurance.
 WHICH Ihey VIII continue through the present
 year, and probably for the future
 They have bylaw which prevents the ass,r.
 ing or any risk, which, in any contipgencv in
 volVes the loss of more than S2, ,5OU of uruimrtv
 Hence there can be no apprehension of any ,ut,y.
 assessment: The funds of the Company are lu;.n
 ed on bonds and mortgages, and other secnr;tia.
 where they can be made available at a,v tin,s
 For the prevention of fraud, and as 2 nr.t.,.
 tioh against over Insurance. the Com1ai;v ,,a,
 hreeJonrhs ot the cash value of buildings. wIici Is usnaliy, (deducting the foundation, the t,il Value or the property de>troyed--and also. the fuii cash value of all partial losses Oh bnildinas and on all personal property contained tbrr.HIn' . miii ils a1unt @ t. of the insurance Tie Company vision, by which, ill any case of disagreement in | relation to the loss or damage sustained by tie in snred, the questions arising therein shall be sub- mitted to three jHdieious and disinterrstcd per sons arbitratots, selected ill the usual way ly i both parties; or if either party neglccts to aI- point it shall be the duty of the JuGge of Probate qualified to act, to make such appointment, whose award in writing, after q fair hearing, shall be final This has been found just, prompt, and very satisfactory method of adjusting all claims of a doubtful character avoids all litigation, and is not expansive. The financial affairs of the Com 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 ex- penses ot rent, postage, and other services, have not exceeded seventy dollars per a,lnum T he Li,- tory of the Company exhibits the fact that stren th and eminent responsibility are necessary 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 40 Der cent o it's 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 tLey receive Der cent in cash. and the balance in notes-pres.nt- ing large amount in notes as capital. Our Con- pany have contented themselves with charging only the amount usually charged by Stock Com panles, and have not made the insared respunsI- . 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 $l85,- 236.76. Deducting the losses and expenses ($34 l2.31,) and the balance, Sl5l, ,1G9 45 has been sayed-thus taking an example, a detached risk, at 40 cents on Sl00. less than oneftth of the premiums has been used making the insul- ance cost less than cents on that sum for each year.
 The Financial Summary of the operations and 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 incredulous. that if is both profitable and reliable, when iudicioasly managed, and at the same time, sustains the emf ncnt responsibility of the Company, it's 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. c BECKWITH, President
 OFFICERS OF THE COMPANY FOR 1s6O-61: J. G. c. Woodruff, Treasurer; Sheldon Osborn. Gener- al Agent. -
 Directors-J G. Bcckwith, Jason Whiting Seth r. Beers. A. S. Lewis, Sheldon Osborn, Abijah Catlin, Cha's Adams, H. R. Coit Philip s. Beebe.
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