The broad ax., 1910-09-03
STEADY ADVANCE
IN BUSINESS
North Carolina Mutual and Prov
dent Association Succeeds.
OFFICERED BY CAPABLE MEN,

Thrifty Organization, Which Started
Few Years Ago In q Small Way,
Gives Employment to Hundreds Of
Psrsons-Vies President sPauIdins
IN Expert
One OF the most successful business
concerns organized as the direct result
Of the inspiration and encouragement
which its promoters received from the
National Negro Business league is the
North Carolina Mutual and Provident
association OF Durham. n. O.
There is nothing so apt to make
strong sentiment for the black man,
nothing that will do more to ameliorate
southern conditions or TO even give the
Negro greater confidence In himself,
than the successful manipulation OF
large concerns.
The officials OF the association rec
ognize the importance OF solidity, safe
" and conservatism In all OF their
business transactions One Of their
pet theories is that a goodly portion
Of every dime collected must eventual
ly ind its way into the reserve fund,
which is for the protection Of fits poll
cy holders
As a reward for this conservatism
the concern has grown to such an e1-
tent that its volume Of business has
increased in eleven years from $40 In
1890 to 500. 100 in 1909.
It is not such an easy matter now to
begin insurance companies as 1t once
was. The state authorities are be-
ginning to see that some protection
must be guaranteed the policy hold
ers and the people who place their
trust in the statements Of insurance
officers
To this end the state of North
Carolina must have reports made
TO fits insurance officials, which re-
ports are verified by an exami-
nation made by Representatives Of
the state department In such an
examination all the mutual indus
trial insurance companies, doing busi-
ness In the state Of North Carolina,
had assets to protect their policy hold
ers amounting to $91.164-27. OF this
amount the North Carolina Mutual
and Provident association has ST.
sO667.
The company has likewise on depos-
It with the insurance commissioner OF
South Carolina $4,000 to protect its
policy holders In that state and owns
valuable property In Columbia. s. c.;
Wilmington and Durham. N. @.
It's records show that $4,000 have
been paid in the last six months In
premiums, and writes sick and acct
dent policies, purely accidental poll
cies, Industrial insurance policies, and
straight Life and endowment policies.
The office force numbers twenty-one
clerks and stenographers, and includ-
ings agents, managers Of districts and
travelling men, II gives employment 70
$50 persons. The present officers are
John Merrick. founder and president;
Dr.. A n. Moore. secretary and treas
urer. and c. c. Spaulding. vice presi-
dent and general manager.
Much Of the real success Of the
North Carolina Mutual and Provident
association is due to the efforts Of
Mr.. Spaulding. who has made a def
mite study Of insurance. In many re-
spects Mr.. Spaulding is regarded as
one Of the best authorities on insur-
ance in the country, and he knows
every detail Of the complicated ma
ehinery in the North Carolina Mutual
ONCE. Mr.. Spaulding is ably assisted
in the management Of the concern by
Mr.. J. n. Avery.
At the Business league meeting In
New York Mr. Spaulding gave from
the ten years experience he has
had in the insurance business some
valuable facts with reference to the
management Of the work His subject
was Some Benefits and Dangers In
Negro Insurance Business"