The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-04-23
TO INSURE At HOME
North Carolina Will Have New
Fire Insurance Co.
Leading Business Men Of The State to 0rgan'z:
With 100000 Capital and $4,000
Surplus.

The business men of North Carolina are
preparing to do more fire insurance bust
ness in the State.
A strong and reliable company is in
the process of being organized. 1t is the
Citizens Fire Insurance Company OF
North arolina," and the home office is to
be in Raleigh.
The stockholders in the company are
among the leading business men, and they
will be the backbone of the company,
which is to be thoroughly organized at
an early date. In charge of it will be the
best of insurance men, thoroughly famil-
lar with underwriting and in touch with
the people of the State.
There was a preliminary organization
meeting held here yesterday in the office
of Mr.. Robert G. Strong At this meet
ing there were present twenty stockhold-
ers in the new company, while twelve
others were represented by proxy, and all
OF these are known as reliable business
men.
The company is. to start with capital
stock of 100000 with $4,000 surplus. At
the meeting yesterday $4,000 of the cap
ital, this covering $4,000 of the surplus,
or 100000 in all was subscribed. There
was left open $4,000 of capital stock,
$4,000 of surplus to be taken by promi-
nent men in various sections of the State,
for while the company is being organized
here it is to be essentially State insti-
tuition.
The object of the meeting yesterday
was to mature plans for the organization
of the company, and to elect a commit
tee which will arrange all details pre-
limary to taking out the charter. The
capital stock and surplus subscribed was
in cash money and not in notes, and this
makes certain that the company will start
out on solid financial basis
The meeting was presided over by Mr.
John Blue, of Aberdeen, while Mr.. p "
Albright of Raleigh, was the secretary.
The meeting named an executive com
mittee of five with Mr.. Robert G. Strong,
of this city as chairman. This committee
will draft the charter and prepare the ne
cessary bylaws, these to be submitted
to the next meeting of the stockholders,
to be called when the committee deems
proper, which is expected to be in the
early fall, when the organization will be
perfected
In charge OF the company will be placed
experienced and able insurance men,
while tho etnckholdere viii h taken frcr,
Hing business men ID the state, known
n their section as reliable ana conserva-
tive. At IL meeting yesterday the f1f-
loving stocllholders were present, either
81 person or By proxy: MessFa. w w.
Mills president. Carolina Trus. Com
pany. Robt. c. Strong, Jesse G. Ball w
f. Manor, ]. d. Riggan, p. r. Albright,
John A. Mills, John c. Drewry, A. w
Goodwin, Leo. D. Heartt, Charles D.
Hart, j. r. Chamberlain, T. T.. Green,
Frank T. Ward. T. K Bruner r. E.
Lumsden, all of Raleigh; Ashley Horne,
of Clayton; Henry A. Page, of Aberdeen;
j. A. Brown, OF Chadbourn; j. M. Childs,
of Hickory; ]. A. Long, of Roxboro;
Henry r. Fries, of Winston; T. j. Mar
tin, of Hickory; John Blue, of Aberdeen;
John S. Cunningham, of Cuningham; II
We'll & Bros, of Goldsboro; X. G.
Briggs. of Wilson; VIM E. Holt of Char
Iotte; E. NJ Armf1eld, of High Point;
Henry Perry, of Henderson: DR.. ]. G.
Hunt, of oxford: Julian S. arr, of Dur
ham; w l.. Holt. of Fayetteville; C. j.
Cooper, of Fayetteville; and Jonas Oettin
ger. Of Wilson.