Litchfield enquirer., 1861-03-28
s54.14e s1s1 .O9o. 59 se. eo6, 15s


 Of the amount of Cash received for
 Premiums. ....................... S54, l46 r There has been paid for
 losses and expenses to
 this time. S34, l27 .31
 2 Dividends of 10 per ct
 paid on years renewals 641 .8O-S34 7G9. II Which deducted from the Cash receipts
 leaves. .....................S Sl9 BIT O6 Amount received for n-
 terest on loans last year $1,187 co
 Due from Agents and
 Cash deposited. ..... 4 ,563. 3o- S5,75O 30 Cash Funds. ......................s s25456 S6 Of the amount charged on the books, $l3i OoO e5
 there hes been cancelled. d......... !O3, ,469. SS Which with the Cash funds. s........ s27. .621 O7 And money loaned as a ove. ......... 25.4o6 36 Makes an available Capital to meet
 losses. s5s o77 4s RECEIPTS AND EXPENDITURES FOR THE YEAR 1S59-6O Received for premiums, dcducting
 dividend .. ................... S4 3S5 .96 Interest account. .................. 1,lS7. .UU
 S5572 9G Deduct losses and expcnscs.. 29o8. .56
 Balance resulting to Fund.- s2 5s4. 40 Of the Property insured. red..... &. .9O6. l53 1here has Deen surrendered. ......... ,243, ,97J
 Leaving still insured. ............ S2 657 IA
 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 a dividend of 10 pel cent. on their renewal of policies of insurance. which they will consinue through the present year, and probably for the future
 They have bylaw which prevents the assur- ing of any risk, whilh, ill any contingency, in wolves the loss of more than S2, 800 of prolprty. Hence there can be no apprehension ot 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 al.y timc
 For the prevention of fraud, and as d ur,tec- tion against over insurance. the Company pay 'hree o"rths of the cash value or buildings, which is usually, (leducting the foundation the full Value of the property de.tUyed-and also, the full cash value ot all partial losses OH buildings. and on all personal property contained ther, Ili, within amount of the insui ance IEe Company have inserted in their " "stcreoiyped policy pro vision, by which. in any Case of disagreement in relation to the loss Or damage sustained by the in sured, the questions arising therein shall be sub mtted to three jmdicious and disiuter,sted per sons as arbitratuls selected in the usual way by both parties; ur if either party ne.iects to a,- point it shall be the duty of th JuIge of Probate qualified to act. to make such appointment, whose award in writing, after a fair hearing, shall be final. This has been found a just, prompt, aud very satisfactory method of adjusting all claims of d doubtful character, avoids all litigation and is not expansive. The financial atfals of .he Con- pany have been managed with the most rigid The expenses have been mostly for c. newal of policies and the compensation to agents, not exceeding 10 per cent.) The incidental cx- penses of rent, postage, and other services, have not exceeded seventy dollars per annum The Li,- tory of the Company exhibits the fact that sren tn in eminent responsibility are nec, ssary to render Il Company prosperous and give it the full cuntl- lence 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 Der cent ot it's annual cash receipts, and has become one of the strongest Companies in the state. Other m,l- tual Companies charge from 5 to 10 per cent on the property insured. on which tLev receive Der cent. in c.sh. and the balance in notes--pres snt- ing large amount in notes as capital. Our Com panv have contented themselves with charging | ,nly the amount usually charged by Stock Com nnies, and have not made the iilsared respnnsl- ole for more than they would have paid iu cash, in annual insurance. To estimate, therefore, cu. recty. the benefits which have resulted to the n- iured on the mutual principle. We have only to | sdd the cancelled and uncancelled pren iums charged on the books of the Company with the ;ash notwithstanding an aggregate of sl85,- 236.76. Deducting the losses and expenses, 1884, l27.3l and the balance, Sl5l, lOy. .45 has been 'aved-thus taking as an example, detached risk. at 40 cents on $1O0. less than one filth of the premiums has been used making the insu ance cost less than cents on that sum for each 1 year. The Financial Summary of the operations and condition of the Company. after v years of expe. riehce are tLe best argument which can be ad- duced Tn favor of the system of Mutual Insurance. ana snouid satisfy the most incredulous, that it is both profitable and reliable, when iudiciousIy managed, and at the same time, sustains the emf nent 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 icgitinately assumed by the Company. In behalf of the Directors,
 J. C. BECKWTTH, President. OFFICERS OF THE COMPANY FOR lS6O-61: J. c. Beckwlth. President: J. Whiting, Secretary: G. C. Woodruff, Treasurer; Sheldon Osborn, Gener- al Agent.
 Directors-J. G. Beckwith. Jason Whiting. Seth [. Beers. A. s. Lewis, Sheldon Osborn, Abiah Cat!in, Cha's Adams H. k. Colt, Philip s. Beebe.