Litchfield enquirer., 1861-04-18

of any kind against them
 They have never made an assessment, and dur ing the past year, have made q dividend of 10 per cent on their renewal of pe4icies 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 a1y time.
 For the prevention of fraud. and as a rrutec- tion against over insurance, tie Company pay Mre fonrts 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. Tie Company have inserted in their stereotyped policy a pro , vision, by which, i'll any of disagreement in relation to the loss damage sustained ny the in sured, the questions arising therein shall be sub mitted to three judicious and disintercsted per sons as arbitrators, selected in tue usual way by both parties if eith.r party ncglccts to 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 of doubtful character, avoids all litigation, and is not expensive. The financial affairs of the Com- 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 ccnt.) The incidental ex- penses of rent, postage, and otAer services, have not exceeded seventy dollars per annum The Lis tory of Company exhibits the fact, that stren tn and eminent responsibility are necessary to render Company prosperous. and give it the full coni- 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 it's annual cash receipts and has become one of the strongest Companies ill the state. Other mu- 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 as capital. Our Com 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 uncancelled premiums charged on the books of the Company with the cash received-making an aggregate of S1S5,- 236.76. Deducting the losses and expenses, ($34,- 127.31,) and the balance, Sl51 ,109.45 has been saved-thus taking an example, detached risk, at 40 cents on S1O0 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 v years of expe- riencc, 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 juliciously managed, and at the same time, sustains the emf ncnt responsibility of the Company, its claims to public confidence, and it's adaptation to the cir cumstances of our community, for such risks as can be lcgitimately assumed by the Company.
 In behalf of the Directors,
 J. C.. BECKWITH, President
 OFFICERS OF THE COMPANY FOR 1S6O-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. Abijah Catlin, Cha's Adams, H. R. Colt, Philip s. Beebe.