-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 MDzMimNcODpnh6C0fI/q92nF/VYEzbzXlnE2BSP7v26bQyN/q8sh9dPcmCrDDy45
 oWeO3p4iynS50lbqMv6JYw==

<SEC-DOCUMENT>0001209191-05-033629.txt : 20050627
<SEC-HEADER>0001209191-05-033629.hdr.sgml : 20050627
<ACCEPTANCE-DATETIME>20050627182154
ACCESSION NUMBER:		0001209191-05-033629
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050623
FILED AS OF DATE:		20050627
DATE AS OF CHANGE:		20050627

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST CAROLINA INVESTORS INC
		CENTRAL INDEX KEY:			0000811040
		IRS NUMBER:				561005066
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		9347A FOUNDERS STREET
		CITY:			FORT MILL
		STATE:			SC
		ZIP:			29708
		BUSINESS PHONE:		8038020890

	MAIL ADDRESS:	
		STREET 1:		P O BOX 1827
		CITY:			FORT MILL
		STATE:			SC
		ZIP:			29716

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BAIRD BRENT D
		CENTRAL INDEX KEY:			0001082769

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-08942
		FILM NUMBER:		05918572

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		2168613300

	MAIL ADDRESS:	
		STREET 1:		C/O OGLEBAY NORTON CO
		STREET 2:		1100 SUPERIOR AVENUE
		CITY:			CLEVELAND
		STATE:			OH
		ZIP:			44114-2598
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bch96025_bch01bb.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-06-23</periodOfReport>

    <issuer>
        <issuerCik>0000811040</issuerCik>
        <issuerName>FIRST CAROLINA INVESTORS INC</issuerName>
        <issuerTradingSymbol>FCAR.OB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001082769</rptOwnerCik>
            <rptOwnerName>BAIRD BRENT D</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1350 ONE M&amp;T PLAZA</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BUFFALO</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>14203</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>First Carolina Investors, Inc,</value>
            </securityTitle>
            <transactionDate>
                <value>2005-06-23</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2005-06-23</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4708</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>57</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4708</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Brent D. Baird Retirement Fund</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>First Carolina Investors, Inc.</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>86176</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <ownerSignature>
        <signatureName>/s/ Brent D. Baird</signatureName>
        <signatureDate>2005-06-27</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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