Litchfield enquirer., 1861-03-07

The Company have 20 unpaid losses nor claims l of any kind against them.
 They have never made an assessment, and dur ing the past year, have made a dividend of 0 Der cent on their renewal of policies of insurance which they will continue through tie present year, and probably for the future
 They have iy-law which prevents tI.e assrr- ing of any risk which, ill any contingency, in wolves the loss of more than 2,00 of prul,, 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 c;tn be made available at arr ti,iic For the prevention of fraud, and as {; lrgtec tion against over insurance, the Company l.ay hrecJ Jo"Tths of tie cash value of bai!s!iigs which is usually, (dcducting the fQundltony tie fuIl value of the property deetroyed-ana also tile full cash value of ali partial losses cu buildings and OH all personal property contained therrl;l within amount Of the llisu:ilIce. Iie Company have insor ted in their steIeotype,, pu.y'' d pro vision, by Wuich ill any case of disagree nlc:.l ii. relation to the loss or damage sustained Ev the in. sured, the questions arising therein shall hc sub mittcd to three judieiuiS G!ld disl.teigsted r,r- sons as arhi Jratuis, selected il, tie us!al w,y ly both parties; or if either patty ,.r,ei"tts to al point, ii shall be he du!y uf til Ju;ta oi Probate. qualified to act to make such appoiatiucnt whose award in writing, after a fair lleaIinE .siai be final. l his has been found q just, prompt and very satisfactory method of adjusting all claims of doubtful Character, avoids all litigation, and is not expansive. The financial affairs Of .he Con- pany have been managed with the niost rigid economy. The expenses have been mostly fer re- newai of policies and the compensation to ageuts, (not exceeding 10 per ccnt) The incidental ex- penses of rent, postage, and other services have not exceeded seventy dollars per annim. The Lis tory of the Company exhibits the fact that stlen til and eminent responsibility arc necessary to render Company prosperous and give it the fall conl- dencc of tue public. Under the Five Years sys- tem, the Company barely existed with |, cash sur. plus but under the present system, and for t!.e last ten years, it has not expended 40 per cent ol its annual cash receipts, tid has become enc of the stronge;! Companies in the state Other n.u- tual Companies charge from to 10 per cent. ul, the property insured, on which u cv receive 5 Der cent. ill cash, and the balance in notcs-prcs .nt- ing large amount in notes capital. Our Com plny have contented themselves with charging only the amount usually charged by Stock Com panies, and have not made the insured rcspons- ble for moro than they would have paid in cash in annual Insurance. To estimate, therefore, coi- rcctly, the benefits which have rcsulte, to the in sured on the mutual principle, have only to add the cancelled and uncanceled prer iuns charged on the boe ks of the Company with tic cash notwithstanding an aggregate of S1S5- .16. Dcducting the losses and expenses, 1884, l21. ) and the balance, sl51, l09.45 has been Saved-thus taking example, a detached risk, at 40 cents on Sl00, less than one-iiith of
 
 ance cost less than cents on that sum for each year.
 The Financial Summary of the operations and condition of the Company after 27 years of expc- rience are tic 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 can be legitimately assumed by the Company. | In behalf of the Directors
 J. G. BECKWITH, President. | OFFICERS OF THE COMPANY FOR 1s6O-61: J. G. Beckwith. President; J. Whiting, Secretary G. | c. Woodruff, Treasurer; Sheldon Osborn, Gcner- al Agent
 1 Drectors-J. G. Beckwitl, Jason Whiting, Seth P. Beers, A. S. Lewis, Sheldon Osborn, Abiah Catlin, Cha's Adams, H. R. Colt, Philip s. Beebe 1 13