Litchfield enquirer., 1861-04-11

of any kind against them.
 They have never made an assessment, and dur ing the past year, have made dividend of 10 Der cent. on their renewal of policies of insurance, which they will continue through the present year, and probably for the future
 They have by law which prevents the assur- ing of any risk, which, ill any contingency, in wolves the loss of more than S2, 500 of property Hence there can be no apprehension uf 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 prctec- tion against over insurance, the Company pay Mree to"rths 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 buildings and on all personal property contained therein, within amount of the insurance TEe 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 n sured, the questions arising therein shall be sub- mitted to three judicious and disnterested per sons arbitrators, selected in the usual way by both parties; or if either party neglects to al, point, it shall be the duty of the Juge of Probate qualified to act, to make such appointment whose award in writing after q 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
 
 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 serviccs have not exceeded seventy dollars per annum. The his tory of Company exhibits the fact that stren tn and eminent responsibility are necessary to render Company prosperous. and give it the full conti- 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
 .st ten years, it has not expended 40 per cent. of its 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 they receive 5per cent. in cash, and the balance in notes-pressnt- 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 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 notwithstanding an aggregate of Sl85,- 236.76. Deducting the losses and expenses, 1884, 127. .3l J and the balance, $l51, ,109.45 has been saved-tilus taking as an example, detached risk at 40 cents on $1O0. less than one-fitth of the premiums has been used making the insu ance cost less than 8 cents on that sum for each year.
 The Financial Summary of the operations and condition of the Company. after 27 years of expe- rience, 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 judiciously managed and at the same time, sustains the emf nent responsibility of the Company, its claims to public confidence. and it's adaptation to the cir cumstanees of our community, for such risks as can be legitimately assumed by the Company.
 In behalf of the Directors,
 J. G. BECKWFTH, President.
 OFFICERS OF THE COMPANY FOR 1S6O-61: J. c. Beckwith. President; J. Whiting. Secretary G. c. Woodruff, Treasurer; Sheldon Osborn, Gener- al Agent.
 Direetors-J. G. Beckwith, Jason Whiting, Seth P. Beers. A. s. Lewis, Sheldon Osborn. Abijah Catlin, Cha Adams, H. R. Colt, Philip S. Beebe.
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