The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-11-11
NEW INSURANCE CO.
Was incorporated With
$250,000 Capital.
The Organizing fand Financing Com.
pany of Raleigh Chartered. 0rgani-
zation Meeting viii be Held
Soon.

Yesterday d certificate of incorpora-
ion was granted by the Secretary OF
state to the Organizing and Financing
Company, and the sole purpose for
which this company is formed is to
organize and finance a life insurance
ompany, Offering to the people of the
State the opportunity of subscribing
for the capital stock in the life in
;urance company in such amounts as
will meet with the convenience of the
ordinary salary, wage or income.
I. The Organizing Company will soon
organize under it's charter and will
1t once investigate the best conscr-
vative. but modern forms of policies,
which will be offered to the stock
subscribers in the life insurance com
1any upon the basis of a certain
mount of stock with each $1,000 of
insurance. This proposition Wni, of
curse terminate upon the organiza-
ion of the life insurance company,
Before any subscriber will be entitled
o his stock or policy of insurance,
ne will have to stand a physical eX-
animation, satisfactory from an in
urance standpoint. After its organi-
:ation, the life insurance company
yill be conducted upon the lines of
afe and conservative nature, so as
insure absolute security. The Or
anizing Company will name, when
he time comes, the capital stock OF
,he life insurance company and will
make the capital stock, with its own
subscription, what it should be.
The authorized capital stock of the
Organizing and Financing Company is
S25O,OOO. and it will start in business
with sufficient funds to work out the
details of the life insurance company,
which it is hoped, will be in the next
few months. AS these details require
considerable investigation and thought
it will require some time to satisfac-
torily work them out.
Another strong feature of the
charter is the localiZing of investments
and designating local repositories, so
that each locality will get the benefits,
as far as practicable, of its own in
surance money.
While there are many more inter-
ested than those named as incorpOra-
tors, and from various places in the
state, yet the incOrpOrators are all
we'll known people and financial men.
as follows: G. 3. Root, secretary
North Carolina Home Insurance Com
pany; Jesse G.. Ball, wholesale grocer;
Teachers Bureau; F. X. Ellington,
vice-president Raleigh Real Estate
and Trust Company: DIR. A. w. Goode
win, Robert G. Strong, ex-governor
c. B. Aycock, of Goldsboro; w. a.
Hunt. cashier Citizens Bank, Hender-
son; w. H. Hunt, cashier First Ma
tional Bank, oxford; Fl. G. Smith,
cashier Savings Bank Goldsboro;
Charles f. Johnson cotton merchant;
VIM II. Williamson, cotton manufac
turer; Joseph T.. Pogue, secretary
North Carolina Agricultural Society;
j. Y. Joyner, State superintendent
Public Instruction; Norman H. John
son, Attorney Retail Merchants AssO
citation; NJ. r. Leach.
Other interpretations.
The Louisburg Wagon Company,
with 100000 authorized and 49, 900
subscribed capital stock was charter
ed The incorporators are: G. H.
Cooper. r. G. Perry, Ivey Allen, S. p.
Burt, T. w. Rickett and w. M. Bailey
and Others all of LouiSburg.
The w. r. Sears and Company,
of Wilmington, was granted a
charter The object Of the concern
is to conduct a general lumber bust
ness. The total authorized capital
stock is $4,000, with $4,000 sub
scribed. The incorporators are: w.
T. Sears, Wilmington P II. Sears,
Whitevile, and $. M. Lloyd, of Nor
folk, Va.