The American
January 10, 1903
Summary
An African American-owned Insurance company asks the black community of Richmond for their support.
Transcription
The American
Is the best - it is the Strongest.
The Most Reliable.
We make this claim because we have a clear knowledge of the condition of all the insurance companies. We are law abiding, because on the second day of the month we paid the state $200.00, the license for doing business this year.
As to the money being paid monthly to our beneficiaries, we lead all others in that. They say figures don’t lie, we ask the public to look at these figures; for the month of November and December we said for sickness and deaths $3030.28, and $3868.89 respectively or for the two months $6,899.17. Who can beat it? We are the only reliable. Then again we have the largest membership by thousands of any company doing our class of work, there in not another that has 13,000 benefited members, we have 17,000 paying members.
We employ 15 persons to do our work right here in Richmond.
What other company does that? We are the strongest because we have a much larger company of bonafide stockholders. The most of the others companies have only from 1 to 16 persons who own them, our company is backed by over 300 stock. Holders who have already put $6,700 in hard cash in the concern.
We propose to increase that until the entire $20,000 capital stock is paid in.
This is the only way to make a great, substantial company. We do business in a legitimate way. We do not divide the company that’s learned each month among the stockholders.
We are using both sick benefit and straight life policies. We insure persons for as high as $500.00. Persons who desire to take out policies with us may call at the office or have our polite agents to call upon you.
Why not come into this company and let us build it up until it becomes a great wealthy concern that shall be a blessing to the entire race? Our capital stock is now $20,000, but it is our purpose to increase it to $100,000, (One Hundred Thousand Dollars) And why? Simply because that is the only way to compete with the great white companies, put money behind a business. We do not sell stock to every body. We are careful to sell to those who are good citizens and who means business in life.
The colored people should unite and help us to have one strong insurance company in the land. The American is now leading the way and simply asks the continued support of the public.
Respectfully,’W.F. Graham, President,
B.H. Peyton, Secretary
JNO, W. Howard, Gen’l Sup’t.
Is the best - it is the Strongest.
The Most Reliable.
We make this claim because we have a clear knowledge of the condition of all the insurance companies. We are law abiding, because on the second day of the month we paid the state $200.00, the license for doing business this year.
As to the money being paid monthly to our beneficiaries, we lead all others in that. They say figures don’t lie, we ask the public to look at these figures; for the month of November and December we said for sickness and deaths $3030.28, and $3868.89 respectively or for the two months $6,899.17. Who can beat it? We are the only reliable. Then again we have the largest membership by thousands of any company doing our class of work, there in not another that has 13,000 benefited members, we have 17,000 paying members.
We employ 15 persons to do our work right here in Richmond.
What other company does that? We are the strongest because we have a much larger company of bonafide stockholders. The most of the others companies have only from 1 to 16 persons who own them, our company is backed by over 300 stock. Holders who have already put $6,700 in hard cash in the concern.
We propose to increase that until the entire $20,000 capital stock is paid in.
This is the only way to make a great, substantial company. We do business in a legitimate way. We do not divide the company that’s learned each month among the stockholders.
We are using both sick benefit and straight life policies. We insure persons for as high as $500.00. Persons who desire to take out policies with us may call at the office or have our polite agents to call upon you.
Why not come into this company and let us build it up until it becomes a great wealthy concern that shall be a blessing to the entire race? Our capital stock is now $20,000, but it is our purpose to increase it to $100,000, (One Hundred Thousand Dollars) And why? Simply because that is the only way to compete with the great white companies, put money behind a business. We do not sell stock to every body. We are careful to sell to those who are good citizens and who means business in life.
The colored people should unite and help us to have one strong insurance company in the land. The American is now leading the way and simply asks the continued support of the public.
Respectfully,’W.F. Graham, President,
B.H. Peyton, Secretary
JNO, W. Howard, Gen’l Sup’t.
About this article
Source
Location on Page
Upper Right Quadrant
Topic
Contributed By
Rose Williams
Citation
“The American,” Black Virginia: The Richmond Planet, 1894-1909, accessed February 19, 2026, https://blackvirginia.richmond.edu/items/show/188.