The North-Carolina standard., 1850-08-07

4H NORTH CAROLINA WEDNESDAY MORNING, AUGUST T. 1850
FIRST ANNUAL REPORT,
Of THE NORTH CAROLINA MUTUAL LIFE
INSURANCE COMPANY, made july I, 1850.

VI IIE NOflH CAhOLlNA MUTUAL LIFE
INSURANCE COMPANY, made July l, 1850.
The following statement will show the operations of
the Company since its organization the lst Of April
1S49, the Goth June, 1850, when the Books of the
Company were closed.
Whole number of Policies issued, 6l5
Whole number of Policies cancell-
ed and expired,
Whole number of Policies in force, elo
Amount Insured in the above Poll
cies, ss7,2se 90
Amount Cancelled and Expired ALSO 90
Total Liabilities, $sss.ose co
RECEIPTS.
Nett Premiums Reed dunng
the wear, 3l,4l7 40
Interest Received on Renew
ais, &c. l60 80 3l.57s 4e
DlsBuRsEMENTs.
Amt paid Salaries, Commis-
sions to Agents. Medical Ex-
aminer's fees, Printing, Ad-
vertising, Books, Blanks,
Stationery, Postage, Office
Rent, and Office Furniture, 6,6l3 Is
Amt paid Losses, by DEATH 400 90 s,Ol3 Is
Nett proceeds, Sas,5e5 SO
ASSETS.
Cape Fear Bank Stock and
Premium Notes, l4,262 81
Amt in hands of Treasurer, S,5l9 SO
Amount in hands of Agents, 1872 6s 23.665 35
In presenting to the Members of the North Carolina
Mutual Life Insurance Company at their first annual
meeting the accompanying exhibit of the transactions of
the Company for the first year, together with its present
financial condition, the Board Of Directors deem it
necessary to enter into any calculations to show the
benefits of Life Insurance.
1t will be by reference this exhibit that the
Company is in remarkably sound and prosperous
dition and that there is hand amount of Cash
quite sufficient to meet extraordinary losses This
results from the uncommon success that has attended
upon labors far; and from the additional circum
stance, that the Directors, although abundanty able to
do so from the financial Of the affairs of the Com
pany have not declared any dividend for this year.
jealous regard for the future welfare and best interest Of
the Company dictated such course.
As to the expenses Of the past year. which may, with
out due reflection, uneasonaby large must I've
remembered that TO put in operation Institution like
required something of outfit, which necessarily
became charge upon the first years transactions Ma
ny of these expenses therefore, will be incurred only in
part hereafter.
In conclusion the Board of Directors take great pleas
in assuring the members that Company. which
constantly increasing in public confidence and favor
has entered upon its second years with cheering
indications of prosperity and success
DIRECTORS COMPANY.
Fred c. Hill, William H. Jones.
r. b. Haywood, James F. Jordan,
Perrin Busbee, Charles B. Root,
H. w. Hustled, Charles f. Johnson, Jr.
William H. Mckee, VIM. D. Haywood,
William W. Holden, William r. Scott
William d. Cooke,
OFFICERS THE COMFANI.
DR.. Chas e. Johnson, President
VIM. ID. Haywood, Vice President,
James F. Jordan, Secretary,
%;:% ;'!;:% ( s:s;:, sss<S' rses"';re Com.
Charles B. Root
Charles E. Johnson, NJ D. Medical Board
u P' II: H.SwooI ] NJ W. y D. (of Consultation.
VIM. H. Mckee, NJ. D., Medical Examiner.
WIN. H. Jones, Treasurer,
Perrin Busbee, Attorney.
- All letters on business OF Insurance should be
addressed to the Secretary, post paid.
July 81, 1850. $40