North
Carolina
Business
History
Raleigh, NC (1843 - 1865)
The North Carolina Mutual Insurance Company was established by legislative charter in 1843, becoming operational in 1845. The word Fire was added to the company's title in 1859. There is evidence that the firm operated throughout the Civil War, but failed to survive the failure of
The firm provided fire insurance throughout the state, although most business was in the Raleigh area. When the firm opened in 1845, its offices were in B. B. Smith's brick building at Fayetteville & Hargett streets in Raleigh. The building burned in 1851.
During its existence, there were competing mutual fire insurance companies in many North Carolina cities — Fayetteville, Greensborough, Milton, Salem, etc.
Its fire insurance policies were written on all property, except steam mills and turpentine distilleries.
Officers & Board (note dates are confirmed, additional service possible)
| President | Josiah O. Watson | 1845 - |
| J. G. B. Roulhae | 1853? - 1859 | |
| T. H. Selby | 1859 - 1863 | |
| Vice President | Henry. D. Turner | (<1853 - 1863) |
| Treasurer | S. W. Whiting | - 1859 |
| Secretary | J. C. Partridge | - 1859 |
| Secretary & Treasurer | Hamden S. Smith | 1859 - 1863 |
| General Counsel | John H. Bryan | <1858 - 1863 |
| General Agent | J. Hersman | <1853 - 1859 |
| Directors | ||
| Raleigh | ||
| Kemp P. Battle | (1861 - 1863) | |
| C. W. D. Hutchings | (1861 - 1863) | |
| George Little | (1861 - 1863) | |
| Thomas Loring | 1845 - | |
| George Mordecai | 1845 - | |
| William Peace | 1845 - | |
| John Primrose | 1845 - | |
| T. H. Selby | (1861 - 1863) | |
| Richard Smith | 1845 - | |
| Sylvester Smith | 1845 - | |
| Albert Stith | 1845 - | |
| James M. Towles | (1861 - 1863) | |
| Henry D. Turner | (1861 - 1863) | |
| J. R. Williams | (1861 - 1863) | |
| Anson County | Joseph White | (1861 - 1863) |
| Asheville | A. T. Summy | (1861 - 1863) |
| Charlotte | H. B. Williams | (1861 - 1863) |
| Edenton | John M. Jones | (1861 - 1863) |
| Elizabeth City | George W. Charles | (1861 - 1863) |
| Fayetteville | A. W. Steel | (1861 - 1863) |
| Milton | Samuel Watkins | (1861 - 1863) |
| Murfreesborough | J. W. Harrell | (1861 - 1863) |
| New Bern | Alexander Mitchell | (1861 - 1863) |
| Plymouth | Hoseph Ramsey | (1861 - 1863) |
| Salem | Joshua Bonner | (1861 - 1863) |
| Washington | James E. Hoyt | (1861 - 1863) |
| Wilmington | Joshua G. Wright | (1861 - 1863) |
Annual
Operating Statements
1858
As of Nov. 30, 1858
Property Insured
$4,567,315.08
Premium Notes
$ 680,882.27
Annual Receipts
$ 14,534.72
Annual Assessments
$ 22,221.78
Annual Losses
$ 41,784.30
1861
As of Nov. 30, 1861
Property Insured
$8,293,782.98
Premium Notes
$ 444,617.99
Annual Receipts
$ 24,815.48
Annual Losses
$ 19,090.54
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