Litchfield enquirer., 1861-05-23

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 10 pcl cent. on their renewal of policies of insurance, which they will continue through the present year, and probably for the future
 They have a bylaw which prevents the assur- ing of any risk, which, in any contingency, in wolves the loss of more than S2, ,50O of property. 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 a1.y time.
 For the prevention of fraud. and as a prvtcc- tion against over insurance, the Company pay three to"rths of the cash value of buildings, which is usually, (deducting the foundation) the fuli value of the property dcstroyed-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 inserted in their "stereotypcd 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 mittcd to three judicous and dsintercsted per sons as arbitrators selected in the usual way by both parties; or if either party ncglccts Co al point it shall be the duty of the Judge of Probate qualified to act, to make such appointment, whose award in writing, after fair hearing shall be final This has been found just, prompt, and very satisfactory method of adjusting all claims oi doubtful character, avoids all litigation, and is not expensive. The financial affairs of lie Com pany have been managed with the most rigid economy The expenses have been mostly for rc- newal of policies and the compensation to agents, (not exceeding 10 per cent.) The incidental ex- 4enses of rent, postage, and other services, have not exceeded seventy dollars per annum The Lis tory of Company exhibits the fact that stren tn and eminent responsibility necessary to render a Company prosperous. and give it the full conti- 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 per cent oi its annual cash receipts, and has become one of the strongest Companies in the state. Other m,i- tual Companies charge from to 10 per cent on the property insured, on which they receive per cent. in cash, and the balance in notes--present- ing large amount in notes capital. Our Com 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, 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 notwithstanding an aggregate of $165,- 236.76. Deducting the losses and expenses (s34, : 127 .31 J and the balance, Sl51 ,1O9.45 has been saved-thus taking as an example, detached risk at 40 cents on $1O0, less than one fifth 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 expe- rlence, are tEe 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 jutliciously managed, and at the same time, sustains the emf nent responsibility of the Company, it's claims to public confidence and its adaptation to the cir | ckn ,of1, c---
 can be legitimately assumed by the Company.
 In behalf of the Directors.
 | J. G. BECKWITH, President
 OFFICERS OF THE COMPANY FOR 1e6O-61: J. G. Beckwith, President; J. Whiting, Secretary; G. c. Woodruff, Treasurer; Sheldon Osborn Gener- al Agent.
 Directors-J. G. Beckwith, Jason Whiting Seth P. Beers, A. s. Lewis Sheldon Osborn. Abiiah Catlin, Cha's Adams, H. R. Colt, Philip S. Beebe.