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6 A Short Ristory of Standard Life ST e T e o) e \ 'g"“ &+ Beman E. Perry. President N THIS PAGE TO-DAY O is printed a true state ment of the finaneial econdition of the Standard Life Insurance Company, of Atlanta, Ga. First glance, per haps, reveals nothing more or less than a good healthy eon dition of a firmly established organization. Only a passing interest in this statement would be aroused were it not for the fact that this statement is made by a concern which only seven short years ago was but the germ of an idea in the mind of Heman E. Perry. On this page also is printed a photograph of Heman E. Perry as he looks to-day, seat ed at the President’s desk in the businesslike offices of the Standard Life. This is the man who conceived the idea of a solid, substantial life in suranee organization that should be a benefit and a help to thes entire colored race, Heman E. Perry is responsible for the birth of the Standard Life and Heman E. Perry is responsible for the constant and steady growth, through the darkness of business de pression and financial strin geney, into the brightness of solidarity. It stands to-day a rock-built monument to the genius of one man, a credit to his race and an example to all of his people of what one man with an idea and untiring en ergy can do in the face of prej ndice and almost insurmount able obstacles. From out of the broad ex gnmw of a Texas prairie came eman E. Perry. Life insur anceand its possibilities appeal ed to him at an early age. Every word written on the sub jeet was eagerly read by Per ry, until he knew life insurance in its every phase. It was but natural then that his efforts to gain a livelihood should have been along these lines. He sold life insurance for the Manhat tan Life, the Fidelity Mutual and the Equitable, and gained many friends both among his own race and the white people with whom he came in contact. As an employee in the offices of some of these companies in New York City, Perry gained at first-hand the facts and in formation which have stood him in such good stead in building up the business of the Standard Life here in Atlanta. After an almost unbelieva ble struggle to form a one hundred thousand dollar com pany, Perry succeeded in se euring a charter for the Stand ard Life Tn January, 1909. He traveled through the entire Southland at his own expense soliciting and securing stock and subseriptions in the Stand ard Life Insurance Company. The State of Georgia said when the charter was granted: ““Should you fail to begin busi ness within two years from the date of issuance of this char ter the money received for sub ‘seriptions shall be refunded to ~ the subseribers and this char ter shall be revoked.” Janu ary 28, 1911, was the last day - on which the Standard Life In surance Company could begin meu under that charter. two vears of the hardest Kinda of work and the greatest of sacrifices, in the closing days of 1910, there was little more than $60.000 in hand, and it needed $40,000 more before anything could be done. By herculean efforts within the next thirty days another #lO, 000 had been raised by this man whose faith in his idea had never been shaken. But when January, 1911, dawned and began to grow old it be came apparent even to him that the $£30,000 needed could not be raised from the sub. scribers themselves, so he be gan to try to borrow the nee esasry amount. From bank to bank and from trust company to trust company he went with, increasing agony of despair to be met with a laugh and a sneer — surely, this Negro must be erazy, trying to bor row $30,000 from a white bank —and finally, when they saw the evident sincerity, the ear nestness of intent and purpose, the absolute integrity and hon esty of the man, he was met with kindly words of sympa thy and pity, until finally, one bank president agreed that he would do what he could, but he needed time to consult his lawyer and his board, and the days were slipping rapidly to ward the 28th, when either business must be begun or the charter be surrendered. And so a trip was made to New York, where the whole project was laid before about twelve of the leading bankers of that city, Mr. Perkins, of J. P. Morgan & Co., being among the number. He gave more en couragement than the others; all of them listened intently, but the money was not forth coming. And so with unusual swiftness the days sped by to ward the fateful day; toward the shattering of a strong man’s dream, and toward the point which would have broken a weak man’s heart. During all those two years or more in which Heman E. Perry had been traveling through the South, selling stock in the Standard Life Insurance Com pany, enduring the abomina tions of ‘*Jim Crow’’ cars and stations, and in which he had collected $70,000 of other peo ple’s money, he had used not one cent of that money, but had served without pay, had defrayed his own ex penses, and had hired others to help him when his own strength failed, and paid office rent and prilzting bills, had used every cent in the world that he possessed and had gone deep into debt that he might build this institution that he would be a financial bulwark to the race. Then the charter expired and there be gan the sorrowful task of re turning to hundreds of sub scribers, scattered throughout ten States, this big sum of more than $70,000. The third day in February saw every subseriber with a check in his hands for the amount which he paid, with added interest of 4 per cent, and SEEMINGLY the end of the Standard Life Insurance Company. It would have been the end Tpio Progress and Pevelopment of an Institution of Inestimable/ Benefit to the Race % ! | : ; - i N 70 IMOH # B oy N .‘ ! ; e ‘_W nh . I ‘ % ? r.- » ' | | "8 g - | : N y | R ol | ot A e s 1 4, - ' = | | B | ! i ‘ | ¥ ‘ 4" to an ordinary man. It would have erushed a weak man. It would have convinced most people that raising capital in large amounts was a hopeless thing among colored people, that a SIOO,OOO company with its ecapital all paid up and a surplus on hand to write insur ance on Negro lives was an impossibility. But the man who had worked for two years making untold sacrifices was made of sterner stuff. He was made of the stuff that sue ceeds. After the sting of the erushing defeat had lost its pain, he set about the task of doing it all over again. Some who had been connected with the first company thought he was crazy sure enough. Others pitied him, and there were some who marveled at his nerve, who admired a game man and the fellow who ecould not be defeated. They sub seribed, and sent back the whole check they had just re ceived. Then for nearly two years more he performed. the same kind of labor, made the same kind of sacrifices, trav eled days and nights, talked to men and wemen in his quiet, unassuming, earnest way, and long before the time had ex pired he had sold every one of the 1,000 shares of stock at $125 to $l5O per share, collect ed over $50,000 in cash, had taken notes for the balance of 80,000-odd dollars, and with the co-operation of his associ ates in the organization had borrowed on the notes of the stockholders $50,000 more from a white bank in Atlanta, (ia., and assured the future of the Standard Life Insurance Company by purchasing and depositing with the treasurer of the State of Georgia SIOO,- 000 in bonds. He had begun the realization of the dream which he had had years ago on a Texas ranch. ' PERRY’'S ABLE ASSIST ANT, HARRY H. PACE. The success of all men in any line of business is depen dent upon the ability with which they select and sur round themselves with other men, capable of carrying out ideas to a successful ‘conchu sion. In Harry H. Pace, Perry found such a man. Young, energetic and trustworthy, he soon proved himself able and willing to follow in the foot steps of Perry. To grasp and handle the ideas that ema HEARST'S SUNDAY AMERICAN. ATLANTA, GA. SUNDAY. OCTOHER 24, 1915 nated from Perry, to relieve Perry of the hundred and one minor details of governing an organization of the size of the Standard Life. : As cashier of the Solvent Savings Bank and Trust Com pany of Memphis, Tenn., Pace received a training in business law that is proving itself of exceptional value in enabling him to eonduct the affairs of the office of which he is now in charge. Contaet with some of the shrewdest business men of the country has made this se rious young man a model to be followed by every young col ored man in the eountry. DOES BUSINESS IN SEVEN STATES. The Standard Life Insurance Com pany has connections, policyholders and agents in seven Southern States, namely, Georgia, Alabama, Tennes see, Kentucky, Missouri, Arkansas and Texas. Here is some comments from ex aminations of the Standard Life conducted by the Insurance Depart ment of the State of Georgia: “All expenses were found reason able and evidenced careful manage ment."” “Records show that claims are paid as promptly as consistent, and the company evidences every desire to treat the assured with equity.” “All records of the company were found in excellent condition and its affairs are carefully managed.” THE DIRECTORS OF STAN DARD LIFE. The Directors of Standard Life Insurance Company are ASSETS BONUE L.iinnienasves s «5108480.97 Cash on Hand and in BauhE . hansy laay Premium Notes ...... 1,349.62 Accrued Interest ...... 2,008.43 Premiums Deferred and Uncollected (Net)... 15,016.36 Total Admitted Assets $140,999.27 Total Amount of Insurance in Force .....$1,711,750.00 OFFICERS Heman E. Perry, President. Harry H. Pace, Secretary-Treasurer. Dr. C. C. Cater, Jr., Medical Director. h DIRECTORS A. L. Lewls Heman E. Perry R. L. Isaacs Walter S. Sco't Sol C. Johnson H. C. Dugas Wm. Driskell M. C. B. Mason B. J. Davis J. O. Ross Henry A. Boyd L. J. Garth N. B. Young Toombs MclLendon Harry H. Pace T. H. Hayes J. W. Huguley W. 8. Buchanan A. D. Hamilton J. F. Dugas Statement of Condition as of June 30th, 1915, of Standard Life Insurance Co. Atlanta, Ga. twenty well.known and pro gressive business men of the race. While the majority of them live in Georgia, there are several from the neighboring States. Their combined wealth taken from the lowest figures reported by Dun & Company is considerably over half a mil lion dollars. They are all large holders of the company’s stock for which they paid eash, and are intensely interested in the development of its business. A short sketeh concerning each follows: HENRY A. BOYD, Nash ville, Tenn., Assistant Secre tary of the National Baptist Publishing Board, and the brains behind that mammoth organization. Mr. Boyd is a man of many parts, and finds time to ably edit The Nash ville Globe, which he helped to establish. He is secretary of the National Negro Press As sociation, which organization owes much to his push and original ideas. Mr. Boyd or ganized the National Negro Doll Company, and has made negro dolls popular all over the land. In addition to his other duties, he is the chief moving spirit in the Young People’s Sunday School Con gress. WALTER S. BUCHANAN, Normal, Ala., President Agri cultural and Mechanical Col LIABILITIES Legal Reserve ....... $31,091.00 Medical Examiners' Fees and Bills Due or Accrued ......... 1,003.26 Taxes on Premium Due 72.15 Capital Stock ......$100,000.00 Unassigned Funds ...... 8,832.86 Net Surplus to Policy Holders ............$108,832.86 Total Liabilities ......$140,999.27 lege, Normal, Ala. This insti tution was for many years pre sided over by Prof. W. H. Councill, who enjoyed a nation al reputation as an educator and lecturer. Mr. Buchanan was a teacher in the school, and .at Professor Couneill’s death, he was chosento succeed him by the State Board of Coen trol. He married Professor Couneill’s daughter. The school is one of the land-grant colleges which have been es tablished in many of the Southern States. B. J. DAVIS, Atlanta, Ga., District Grand Seecretary of the Grand United Order of oOdd Fellows. Mr. Davis’ ac complishments in handling the affairs of the Georgia Odd Fel lows are mnationally known and regarded. He became Distriet Grand Secretary when the Order was almost bank rupt. In ten years’ time he increased the membership from ten to “sixty thousand, and the assets from nothing to over Five Hundred Thousand Dollars. The Odd Fellows’ block on Auburn avenue, which is the finest building of any sort owned by the race, is a monument to his construc tive ability. He has held high office in the national Councils of the Order, being Chief Jus tice of the Supreme Court for several years. WM. DRISKELL, Atlanta, (fa., Superintendent of Inspee tion Department. Mr. Dris kell founded the first health and accident insurance com pany operated by colored people in Georgia. ' For many years he was Secretary and Manager of the Union Mutual Association, which he devel oped from a company with himself as its only agent to a company covering the entire State, with over two hundred agents. At the beginning of Standard Life, he resigned to become Manager of it§ Indus trial Department. When that department was abolished in November, 1914, he became as sociated with Mr. W. H. King as State Agency Director for Georgia and Alabama. ' H. C. DUGAS, Augusta, Ga., Cashier of the Penny Savings, Loan and Investment Com pany, the only colored banksin Augusta. Mr. Dugas was one of the founders of the Geor gia Mutual Life and Health Insurance Company and was an officer in that company for —— I ™ ;-,qsfir%;;:y A i e it VALY o TR A SRS TTN S sk, eAN # o o 3 o o A ‘g?‘ 3 o A"‘ ~,;."‘Q : i“;&‘?’ xv *«4’ G ‘ 2¢b ¥ e h: R R Ay % By g LR ) 3 e ‘i‘ Ty %W’i ¥ # * g e, - . %%fi. oy y i ; HESs %‘4 -‘_*?‘,v" s A BBy o TN o L | * g 2 e 1 T %2i A B ‘ ' ks " A % : 2" s v.v ‘ : 2 e P % v ’ - ' b S &N «‘ ‘!l i 3“4",, ” \ & o goie. » L > g , p [ - s - - - P RS » o~ L (r e ’ - o - 5 . S S HBF?)’ [%:pdtev a@c;) .rt\jv a time, but subs?)uently with drew to devote his whole at tention to his banking busi ness. Immediately after finish ing school he engaged in Y. M. (. A. work in New York City, and later was called back to his Augusta home to take charge of Walker Baptist In stitute. He has, however, found his calling in the busi ness world, and is one of the most progressive young bank ers of the race. - J. F. DUGAS, Augusta, Ga,, undertaker. Mr. Dugas is a member of the firm of F. M. Dugas & Son, who conduct the largest undertaking establish ment in Augusta. . They have been eminently successful and have acquired considerable real estate, chief among which is the two-story brick strue ture on a prominent street in which the business of the firm is conducted. He is interested in various race enterprises of the city and is a capable and energetic young business man. L. J. GARTH, Decatur, Ala., coal and wood dealer. Mr. Garth owns and operates the largest coal and wood yard in Decatur and supplies many of the public buildings and small manufacturing plants with fuel. In addition to this busi ness, he operates a clothing es tablishment and handles a full line of eclothing, both custom and ready-made. He has made rapid progress in the accumu lation of this world’s goods and is generally regarded as a careful business man. A. D. HAMILTON, Atlanta, Ga., Contractor and Builder. Mr. Hamilton is one of the most suecessful men in his line in our race. The present busi ness was established many vears ago by his father, who later took his son into part nership with him. Upon his father’s death, Mr. Hamilton continued the conduct of the business along the same care ful and conservative lines. It is interesting to mnote that many of his customers have been with the firm since its original establishment years ago. He has erected many beautiful homes in and around Atlanta and a number of pub lic buildings. He lives in a beautiful home of his own de sign and construetion in an ex cellent section of Atlanta. THOS.H. HAYES, Memphis, Tenn., Undertaker, Vice Presi dent Solvent Savings Bank and Trust Company. Mr. Hayes began his undertaking business after having failed in the grocery business, losing the accumulations of years. His success as an undertaker has been phenomenal, the records of the city showing that his busi ness for many years was more than all other Memphis colored under takers combined. He owns valua ble Memphis city property, includ ing a two-story brick building housing his business, and a hand some residence in an excellent sec tion of the city. He is interested in a number of race enterprises in various parts of the country. J. W. HUGULEY, Americus, Ga., Physician and Surgeon. Dr. Hugu ley represents the type of success ful physician who was not afraid to go into the smaller city, and who have profited by their choice. He {s one of the founders and is at present head of the Supreme Cir cle of Benevolence, a fraternal or ganization which is very strong in the southern portion of Georgla. *He has acquired considerable prop erty and enjoys a very lucrative practice. R. L. ISAACS, Prairie View, Texas, Professor of Mathematics, Prairie View Normal and Indus trial College. Mr. Isaacs has been a very potent factor in the upbuild ing of this Institution, which is one of the largest educational insti tutions for our people in the South west. He was also one of the or ganizers and is now Cashier of the College Bank and Trust Company, conducted by the teachers and stu dents. He is local treasurer of the school, and has shown marked busi ness ability in his work. SOL C. JOHNSON, Savannah, Ga., Editor and Owner of The Sa vannah Tribune. Mr. Johnson was associated with the late Col. John H. Deveaux in the establishment of The Savammah Tribune. After Colonel Deveaux's death he as sumed complete control of the pa per. He moved his plant into a better section of town, erected a two-story brick building and in stalled new presses and linotype machines. Aside from his publish ing business, Mr. Johnson is an officer and director in the Wage Earners’ Bank, the Royal Under taking Company, and other race en terprises. A. L. LEWIS, Jacksonville, Fla,, Secretary and General Manager of the Afro-American Industrial In surance Company, the largest con cern of its kind in the State of Flor ida, and with branches all over the State. Mr. Lewls is identified with various financial enterprises of the race, and is one of the wealthlest and most successful business men in the South. He lives in an ele gant home in a choice residence section. J. C. ROSS, Atlanta, Ga., Presi dent Atlanta State Savings Bank. Mr. Ross for a number of years con ducted a large ‘grocery store and meat market, furnishing several of the schools and colleges around At lanta. He was instrumental in or ganizing the Atlanta State Savings Bank and became its president. He retired from the grocery business and now devotes all of his time to his banking and farming interests. He cultivates a large tract of land near the city limits, supplying fresh vegetables to hotels and resi dences. He owns considerable property In the western portion of Atlanta, and is one of the city's most successful business men. WALTER 8. SCOTT, Savannah, Ga., President and General Mana ger of the Guaranty Mutual Life and Health Insurance Company, which does a large siok and accl dent business throughout Georgia. Mr. Scott was for many years Sec retary and Treasurer of the Wage- Earners Bank, and was instrument al in bullding t@eat splendid insti tution to its present high standing. He lis also associated with his brothers in the dry goods business, conducting the only store of its kind in Savannah. N. B. YOUNG, Tallahassee, Fla., President of the Agricultural and Mechanical College of Florida, one of the land-grant colleges of the Southern States. President Young is widely known in educational cir cles, and has been president of botk State and national educational or ganizations. He is interested in a number of race enterprises, having investments In several banks in the South. His school .is generally spoken of as one of the most effi ciently conducted of any college of similar type in.the country. TOOMBS McLENDON, Washing ton, Ga., General Merchant, Far mer, and Minister. Mr. McLendon conducts a general store from which he furnishes the many ten ants on his farms the various ar ticles of food, clothing and imple ments that they desire. He is one of the largest property owners in Wilkes County, and is interested in several lines of business aside from those directly connected with his farming interests. He is a type of the progressive and shrewd business man and farmer. Advertisement.