Litchfield enquirer., 1861-06-06
The Company have no unpaid losses nor claims of any kind against them.

The company nave no unpaid losses nor cIRlIlS of any kind against them.
 They have never made an assessment, and dur ing the past year, have made dividend of 10 Dc, 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, whi, in any contingency, in. wolves the loss of more than S2, ,5OO of property Hence there can be apprehension ui 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 prutcc- tion against over insurance, the Company la,,
 hrte fonrths of the cash value oi buildings which is usually, i.lcducting the foundation the full value of the property dcstrnyctl-and also, the full cash value ot all partial losses Oh buildings, and on all personal property contained tl,crein within amount of the insurance. TEe Company have inserted ill their 'stcrcutyped policy pro vision, by which, ill any case Uf dis.2 in relation to the loss or damage sustained by the in sured, the questions arising therein shall be sub mittcd to three ju.Iicious and disimtercsted per sons as aritrators, selected ill the usual way Ly both parties or if either patty I.egccts to al.- point it shall be the duty of the Jn,gc of Probate qualified to act to make such appointment, whose award in writing after a 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 Ihe 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 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 Company prosperous. and give it the full conh- dence of the public. Under the Five Years sys fnVrp hora a1S,c tad 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 in the state. Other mu- tual Companies charge from to 10 per cent. on the property insured. on which tLey receive per cent ili cash. and the balance in notes-pressnt-I ing large amount in notes as capital. Our Com. pany have contented themselves with charging only the amount usually charged by Stock Com panics 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 surcd 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 $l85,- 2S6. 76. Deducting the losses and expenses, 1884,, 127.31 J and the balance, $l51 ,109.45 has been saved-thus taking as an example, detached risk, at 40 cents on $100. less than one-ffth of the premiums has been used--making the insur- ancc 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- rience, arc 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 it's adaptation to the cir cumstances of our community, for such risks as can be legitimately assumed by the Company.
 In behalf of the Directors, l
 J. c. BECKWITH, President.
 OFFICERS OF THE COMPANY FOR 1o60-61: J. G. l Beckwith. President U. Whiting, Secretary c. l c. Woodruff, Treasurer; Sheldon Osborn, Gener- | al Agent.
 Directors-J. G. Beckwith, Jason Whiting, Seth l P. Beers, A. S. Lewis, Sheldon Osborn. Abijah | Catlin, Cha's Adams, H. R. Colt, Philip s. Beebe.