Litchfield enquirer., 1861-05-16
S54.146 s131. .O9O. .59 s

Of the amount of Cash received for
 Premiums. s54, 146.l1 There has been paid for
 losses and expenses to
 this time. ........... S34 l27.31
 ? Dividends of 10 per ct.
 paid on years renewals 1.SO-s34 7e9 II Which deducted from the Cash receipts Amount received for in
 rerest on loans last year S1, ,1S7CO
 Due from Agents and
 Cash deposited . 4 5G3 80 s5,75O sO Cash Funds. ........ S25.456 3G Of the amount charged on the books, Sl3l 0o0 e5
 there has been cancelled ........ l03 ,469 S6 Which with the Cash funds. ......... so7 .621 O7 Ana money loaned as a~oVe. ........ p, ,456 3G Makes an available Capital to meet
 losses. ...................,..s5 s53 or 43 RECEIPTS AND EXPENDITURES FOR THE YEAR IS59-6O Received for premiums, deducting
 ulVluenu S4 3So. .90 Interest account. ................ lS7 %
 s5,572 9G Deduct losses and expenses . Z 9oS. .56
 Balance resulting to Fund. . s2 Js4 40 Of the Property insured ..... $. .gG6 IJ2 There has been surrendered. ......... ,243, ,J7@
 Leaving still insured. ........s s2 ,G57 ,1?i
 Tine Company have unpaid losses nor claims of any kind against them.
 They have never made an assessm ent, and dur ing the past year, have made a dividend of 0 pGl cent. 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 5UO of i,repeIty. Hence there can be no apprehension ot any Iutr, assessment The funds of the Company are loan l ed on bonds and mortgages, and other securities | where they can be made available at any time For the prevention of fraud, and as |; rrotec- tion against insurance, tie Company ra> Mrte foarths of the cash value of buildings which is usually, (.leductng the toundaion,) the fuli | value of the property destroyed--and a!so tht full cash value of all partial losses on buildings and on all perSol,al property contained th,rtiIs: | within amount of the insurance. Tie Company have inserted in their stercoyped policy pro vision, by wn!ch, ill any of disagreement in relation to the loss or damage sustained by the in sured, the questions arising therein shall he sub mitted to three judicous and dsinter. sted per sons as arbitrators selected in the usual way by both parties or if cititr party nesiccts to ai point, it shall be the duty of thu Juge of Probate qualified to act, to make such appointment, whose award in writing, after d fair hearing, shall be final. This has been found just, prompt, and very satisfactory method of adjusting all claims ot doubtful character. avoids all litigation, and is not expensive. The financial affairs of he Cum- pany have been managed with the most rigid l economy. The expenses have been mostly for re- newal of policies and the compensation to agents, (not exceeding 10 per ccnt.) The incidental cx- penses ot rent, postage, and other services, have l Il TI, tory of the Company exhibits the fact that sren lh and eminent responsibility ssary to render Company prosperous and give it the full conh- 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 t.e last ten years, it has not expended 40 per cent ot its annual cash receipts, and has become one of 1 the strongest Companies in the state. Other mu- tual Companies charge from to 10 per cent on l the property insured, on which tEey receive per cent. in cash, and the balance in notcs--presellt | ing large amount in notes capital. Our Con- pany have contented themselves with charging | only the amount usually charged by Stock Com panies, and have not made the insared 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 SlS5,- 76. Deducting the losses and expenses, 1854, ;, 127 .31 ) and the balance, $l5l 109. .45 las been saved-thus taking as an example, a detached risk. at 40 cents S100. less than one-fth of the premiums has been used making the nsur- 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 tie best argument which can be ad- duced in favor of the system of Mutual Insurance and should satisfy the most incretluluus that it is both profitable and reliable when iutliciousIy managed, and at the time, sustains the emf 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 legtimately assumed by the Company l In behalf of the Directors,
 | J. G. BECKWITH, President | OFFICERS OF THE COMPANY FOR 1o6O-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 l 13
 The Early Lights Of the Litch-
 field Bar. l A NEAT PAMPHLET, 40 pages, octave, con. l "A tainipu olceof of,bo tl, f,1I