THE YEAR 1842
SPAN OF A CENTURY
COMPILED FROM NOTES ANDS DATA
March 12, 1841 the Camden Mutual Fire Insurance Company was chartered.
It continued as a mutual association until July 1, 1870, when it was
converted into a stock company, although it was not until 1881 that the
word "Mutual" was dropped from the name and the name Camden
Fire Insurance Association was adopted. The original office building was
erected at the southwest corner of Fifth and Federal Streets in 1858.
Prior to that time the Director's meetings had been held until 1853 at
Parson's Hotel; at the Federal Street Ferry.
From 1853 to 1858 the "home office" was located in the general store kept by Jonathan Burr at the northeast corner of Third and Plum (Arch) Streets, where the Post Office building was erected at the turn of the century. In 1899 a new building, designed by noted architect Arthur Truscott, was erected at the site of the original location, the southwest corner of Fifth and Federal Streets.
Fire insurance was introduced to Camden as early as 1832. On March 16 of that year the Legislature passed an act incorporating "The Camden Insurance Company" with a capital stock of $50,000 and the privilege to increase to $150,000. after some years the management fell into the hands of persons who did not act in accordance with the provisions of the charter, and the legislature, on March 2, 1849, appointed Abraham Browning, Thomas H. Dudley, and Isaiah Toy as trustees to settle the affairs of the company.
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