Litchfield enquirer., 1861-05-09

l 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 0 pel cent on their renewal of policies of insurance which they will continue through the present year, and probably for the future
 They have bylaw which prevents the assur- ing of any risk which, ill any contingency, ill wolves the loss of more than S2, 500 of property. 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 any time.
 For the prevention of fraud. and as a prvtec- tion against over insurance, the Company pa, three to"rths of the cash value of buildings whc, is usually, (deducting the foundation,) the full value of the property destroyed-and also, the full cash value of all partial losses on buildings and on all personal property contained therein, within amount of the insurance. Tie Company have inscr ted in their "stcreutypeC policy pro vision, by which, in any case of disagreement in relation to the loss damage sustained by the in. sured, the questions arising therein shall be sub mitted to three judicious and dsinterested per sons as arbitrators selected in the usual way by both parties; or if either party heglects to ai' point, it shall be the duty of th Juge of Probate qualified to act, to make such appointment, whose award in writingr after fair hearing, shall be tinaI. This has been found iust prompt, and very satisfactory method of adjusting all claims oi doubtful character, avoids all litigation, and is not expensive. The financial affairs of the Con- pany have been managed with the most rigid l economy. The expenses have been mostly for re- newal of policies and the compensation to agents, 1 (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 conii- dencs of the public. Under the Five Years sys- thn hare. iSta with q plus; but under the present system and for the last ten years, it has not expended 40 per cent o | its annual cash receipts, and has become one ot the strongest Companies in the state. Other mu- tual Companies charge from to 10 per cent. Oh the property insured on which tLev receive per cent. in cash and the balance in notes--pres sent 1 ing a large amount in notes as capital. Our Com 1 pany have contented themselves with charging only the amount usually charged by Stock Com panies, and have not made the insured responsl-
 ble for more than they would have paid in cash, i 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 S1S5,-
 236.76. Deductng the losses and expenses, (S34, :
 l27. .3l j and the balance, $l51, ,1O9.45 has been
 saved-tl,us taking as an example, a detached risk. at 40 cents on $100 less than one-fifth Of the premiums has been used making the insui-
 ance cost less than cents or that sum for each
 year.
 The Financial Summary of the operations and condition of the Company. after H 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 it
 is both profitable and reliable, when judiciously managed, and at the same time, sustains the emi nent responsibility of the Company. its claims to public confidence. and its adaptation to the cir cumstances of our community, for such risks as Lean be lcgitimately assumed by the Company. } In behalf of the Directors,
 ] J. c. BECKWITH, President. OFFICERS or THE COMPANY FOR l86O-61: J. G Beckwith. President J. Whiting, Secretary G , c. Woodruff, Treasurer; Sheldon Osborn, Gcncr al Agent.
 Directors-J. G. Beckwith, Jason Whiting, Setf
 P. Beers, A. S. Lewis, Sheldon Osborn. Abiial
 Catlin, Cha s Adams, H. R. Colt, Philip s. Becbe
 13