Litchfield enquirer., 1861-01-31

of any kind against them.
 They have never made an assessment and dur ing the past year, have made dividend of 10 per 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, which, in any contingency, in 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 protec- tion against over insurance, the Company pay lhreefourhs 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, in any case of disagreement in relation to the loss or damage sustained by the in sured, the questions arising therein shall be sub mitted to three judicious and disinterested per- sons as arbitrators, selected in the usual way by both parties; or if either party neglects to ap- point it shall be the duty of the Judge 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 the Con- 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 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 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 they receive 5 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 responsl- ble for more than they would have paid in cash, in annual insurance. To estimate, therefore, cor recty, 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. 16. Deducting the losses and expenses, 1884,, 127 .Sl, and the balance, S151 ,1O9.45 has been saved-thus taking as an example, 8 detached risk, at 40 cents on $1O0, less than one-ffth of the premiums has been matchmaking the insur- 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- 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 emi- 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 lcgitfmately assumed by the Company.
 In behalf of the Directors,
 J. G. BECKWITH, President.
 OFFICERS OF THE COMPANY FOR 186O-61: J. c. Beck with. President; J. Whiting, Secretary G. al Agent
 Direetors-J G. Beckwith, Jason Whiting, Seth P. Beers, A. s. Lewis, Sheldon Osborn. Abiiah Catlin, Cha's Adams, H. R. Colt, Philip s. Beebe.
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