Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1870-01-21

is behind in establishing Life Insurance
Companies, but then, like everything else
she does, it will be we'll done when it is
undertaken. The recent organization OF
the WILMINGTON, North CAROLINA, LIFE
INSURANCE COMPANY, to which we have re-
f8rred several times, is the first substantial
effort that has been made to establish this
branch of business i'll this State. We are
glad to know that the effort has met with
success and that the Company has begun
under auspices which will place it on a
firm foundation. A large proportion of
the stock has been subscribed for by sub
stantial citizens, and its affairs have been
placed under gentlemen of recognized
business capacity and experience. The
President, JOHN E. SPEARMAN, has long
experience in the life insurance business,
and is as familiar with its practical work.
ings as any man in the State. Mr.. B. f.
GRADY, Vice-President and Treasurer, is
recognized as one of the most prudent and
reliable business men in our city. Mr.
ALEXANDER JOHNSON, the Secretary, is we'll
known by the people of the Cape Fear
section for his business qualifications. The
other members of the Board of Directors
are equally well and favorably known. Mr..
Ell. B. EILERs is one of our Oldest and most
successful merchants; Captain T. B. GRAIN
GER, of the Banking House of James Daw-
son, is regarded as one of the best financiers
in the State DIR. @. l.. MURPHY, and Mr..
T.. A. POWELL, of Sampson, are reliable
and substantial gentlemen of unblemished
social and business characters.
We have been thus particular in naming
these officers that our people may see into
whose hands the stockholders have placed
the affairs of this young company, as an
evidence of their earnestness, and as the
assurance of the Judgment, prudence and
capacity with which it will be managed.
The best business talent has been called
into the councils of the company, and
public confidence must follow.
In doing what we can to build up this
home enterprise we do not intend, nor will
be led into, any injustice to foreign COM
panies represented in our midst. We have
the utmost confidence in them, and hold
policies in several of them, but We are
glad to know that there is room enough
for all, and that duty and interest demands
that we encourage and support our own.
1t would be an insult to the intelligence of
our people to attempt to explain the ad
vantages of supporting our own business
enterprises and keeping our money at
home. They occur to every one.
This home Company, thus ably organ
lied, is about ready to begin business. In
a few days it will make the deposit re-
quired by its charter with the State
Treasurer, and its agents will begin to
solicit applications. The General Agent,
Rev. B. F. MARABLE, of Sampson county,
will soon be able to begin his labors, and
his name is sufficient to give confidence
and bring business to the Company.
The stock Of the Wilmington Lilo In
sur&nce Company is not yet all taken. It
is desired that the balance should be sub
scribed at once, SO that there shall be no
delay in beginning operations. We do not
believe our people could invest in anything
moro safe or profitable, or help to estab
hsh any business which will confer greater
public benefit. We hope to learn soon
that not a share remains, but that all have
been taken, and the Company is fully at
work.