Litchfield enquirer., 1861-02-21

 of any kind against them.
 They have never made an assessment, and dur ing the past year, have made dividend of 10 per 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, in any contingency, in 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 protec- tion against over insurance, the Company pay hree fourLhs of the cash value of buildings, which 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. Tke Company have inserted in their stereotyped 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- mitted to three judicious and disinterested per sons arbtrators, selected iii the usual way by both parties; or if either party neglects to ap- point, it shall Lc the duty of tue Judge of Probate qualified to act to make such appointment, whose award in writing, after fair hearing, shall be final. This has been found a just, prompt and very satisfactory method of adjusting all claims of doubtful character, avoids all litigation, and is not expansive. The financial affairs of the 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 cent.) The incidental ex- penses of rent, postage, and other services, have not exceeded seventy dollars per annum The his tory the Company exhibits the fact that stren and eminent responsibility are nect ssary to render a Company prosperous, and give it the fall conii- 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 not expended 40 per cent of its annual cash receipts, aud 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 per cent. in cash, and the balance ill notes-presant- ing large amount in notes as capital. Our Con- pany have contented themselves with charging only the amount usually charged by Stock Com panies, and have not made the insured respons- 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 uncancelIcd premiums charged on the books of the Company with the cash received-making an aggresate of SlS5.- 23676. Deducting the losses and expenses, tS34.- l27 J and the balance, $l51, ,109.45 has been saved-thus taking as an example, detached risk, at 40 cents on Sl00, less than one-ffth of Ihe PfeihiuuS Lts been uSeo--maklng the inSur- ance cost less than cents on that sum for each year. M }l, saa5s 4s,,el 8ss. ...s fl z.=aa ..,
 The Financial Summary of the operations and condition of the Company, after,27 years of expe- rience, are the bcit argument which can be ad- duced in favor of the system of Mutual Insurance, and should satisfy the most increlulous, that it
 is both profitable and reliable, when iudiciously 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 can be icgitimately assumed by the Company.
 In behalf of the Directors, J. G. BECKWITH, President.
 OFFICERS OF THE COMPANY. FOR 1860 -61: J. G. Beckwith President; J. Whiting. Secretary G. c. Woodruff, Treasurer; Sheldon Osborn, Gener- al Agent. fi s.st5 &933
 Direetors-J. G. Beckwith, Jason Whiting, Seth P. Beers, A. s. Lewis, Sheldon Osborn. Abijah Catlin, Chas Adams, H. R. Colt, Philip s. Beebe
 13