San Francisco County
James Franklin Houghton
James Franklin Houghton, President of the Home Mutual Fire Insurance Company of California for the past sixteen years, is a native of Massachusetts, born at Cambridge, December 1, 1827. His father, Charles Houghton, was born in Lancaster, Massachusetts, a town which was founded by his ancestors in 1651. When they came to this country they purchased from the Indians a tract of land, two by ten miles in area, and on this Lancaster was built, and they named it after their old English town. The title to their lands was afterward confirmed by the State of Massachusetts, and there several generations of the family resided.
The subject of this brief sketch was educated at the Rensselaer Polytechnic School at Troy, New York, and graduated as Civil Engineer at that institution in 1848. He was employed soon after by the Boston Water Works Company, as an inspector of masonry, and had charge of three miles of their works.
In 1849 he took passage on the ship Richmond, bound for California, came around the Horn, and arrived in San Francisco on April 6, 1850, and entered the commission house of B. T. Baxter & Co., receivers of consignments from the Otis Rich line of Boston and California packets. After remaining with them a year, he purchased the Benicia business which turned out chiefly to be a lumber business, as their cargoes consisted largely of lumber. In 1853 he sold the business to his brother, C. B Houghton, who continues it to the present time. He then returned to San Francisco and engaged in the lumber business there.
In 1854 Mr. Houghton went East and was married, in Newton, Massachusetts, to Miss Caroline Sarphawk, a native of that State and a niece of Captain John Butram, of Salem. Their union has been blessed with four children, two sons and two daughters, all except one born in California. Their older son, Charles S., is married, and resides in Sacramento. Harry B. is in Oakland, and Fanny B. is the wife of Hon. Morgan G. Bulkeley, ex-Mayor of Hartford, and now Governor of the State of Connecticut. The younger daughter, Minnie B. resides with her parents at their home in San Francisco.
Mr. Houghton was twice elected Surveyor General of the State, serving six years during the administrations of Governors Stanford and Low, and during that time made the surveys which established the eastern boundary of the State. He has been for three years one of the Board of Regents of the State University, for five years president of the South San Francisco Dock Company, president of the Central Land Company of Oakland, a member of the Academy of Sciences, and of the State Geographical Society. He is also a member of the Pacific Union Club, and of the Territorial Pioneers. His political affiliations are with the Republican party. He was one of the organizers of the party, and has consistently adhered to it during its long and brilliant career.
Since 1874 Mr. Houghton has been president of the Home Mutual Insurance Company, and has made the interests of this company the paramount business of his life. The company was organized in 1864, and is one of the oldest in the State. Colonel George S. Mann, now ninety-two years of age, and still residing in San Francisco, was its first president. John H. Redington succeeded him, and then came the election of General Houghton. Charles R. Story, a State pioneer, has been its efficient secretary for over twenty years, and R. H. Magill, an underwriter since 1852, has for many years been its general agent. The Home Mutual is a most successful and conservative fire insurance company, occupying only such territory as will return it a fair profit on the capital invested. At first it included marine insurance, but soon after General Houghton’s election this branch of the business was discontinued, and since then the business of the company has proved eminently successful. Another feature of this company, and one peculiar to itself, is the establishment and maintenance of branches, somewhat of the character of local companies. These are located in Oakland, San Jose, Los Angeles, and Portland, Oregon. During the year 1890, the company paid for losses and expenses $142,338.90, and added $46,095.12 to is cash assets, increased its reserve fund, held for the exclusive protection of its outstanding policies, $14,860.91; paid $36,000 in dividends to its stockholders, and increased its net surplus $34,016.69; showing an increase over losses and expenses amounting to $84,877.60. It has paid losses since its organization, $3,175,759.21; its assets January 1, 1891, were $867,512.19; surplus for policy holders, $844,944.69; reserve, $266,043.59; capital paid up in gold, 300,000.00; and its net surplus over everything, $278,901.10. The company has paid $1 per month per share dividends, the last one, in 1890, being No.183; and during the last fourteen years has accumulated $297,050.19 additional assets. Its Board of Directors are L. L. Baker, H. L. Dodge, John Currey, J. F Houghton, C. Waterhouse, S. Huff, A. K. P. Harmon, C. T. Ryland, Chauncy Taylor, J. L. N. Shepard and I. L. Requa. The motto of the company is “Liberty and Justice.”
Transcribed
by David and Joyce Rugeroni.
Source: “The Bay of
San Francisco,” Vol. 2, Pages 345-346, Lewis Publishing Co, 1892.
©
2006 David Rugeroni.