The American Beneficial Insurance Company Still in the Lead

Stockholders celebrate the success of the black-owned business and discuss government bond investments.

Thursday night, December 29th at Price’s Hall on Leigh Street more than two-hundred stock-holders of the American Beneficial Insurance Company met to hear the condition of the Company from its officers. President W. F. Graham made an address which showed the company in a most healthy condition, and when he told the stock-holders that the American had purchases ten thousand dollars worth of bonds to deposit with the state were was a general expression of approval and delight. He assured the stock-holders that the American would not combine, consolidate or merge with any other company, since she is fully able to take care of herself.
The Hon. Adolphus Humbles and Prof. Winston Bell of Lynchburg were present and made most excellent speeches, in fact they carried the house by storm. Mr. Humbles assured the stock-holders that he was first and last and always for his race, and that he was willing to spend and be spent for their advancement.
Prof. Bell made a speech that will be long remembered by those who heard him. Dr. H. L. Harris was the third and last speaker, and so delighted were the stockholders with his able address that they did not want him to stop. Sec’y Peyton was on hand with his books to satisfy all present that the company was doing business on high business grounds. Mr. A. D. Price was present along with many others too numerous to name, showing to the people that the American is the greatest Negro insurance company in the world. It is the strongest because of its large number of substantial stock-holders, it great membership, [illegible]... and its universal prestige. This is the company to join.

“The American Beneficial Insurance Company Still in the Lead,” Black Virginia: The Richmond Planet, 1894-1909, accessed September 14, 2026, https://blackvirginia.richmond.edu/items/show/208.