r of the
first and only old line legal reserve life insurance company operated
by and for Negroes. In his efforts to raise the $100,000 initial
capital required by the law of his State--Georgia--Mr. Perry had
tramped all over the United States at least three times. Finally,
having tried every conceivable source without securing the required
amount, he returned to all the subscribers of capital stock the money
they had paid in plus 4 per cent. interest. This action so inspired
the confidence of the subscribers that almost without exception they
not only returned the money, but subscribed for additional stock with
the result that the initial capital stock was oversubscribed. When
examined by the State Insurance Department three years after it opened
business this company was found to have a gross income of almost
$77,000 and admitted assets of almost $160,000. Each subsequent
examination by the State Department has showed a healthy growth, low
mortality, good judgment in the selection of risks, prompt payment of
claims, careful management, and a sound financial condition. By means
of this company, known as the Standard Life Insurance Company, life
insurance may be had by any Negro under the same conditions, with the
same degree of security, and at the same rates as a white man.

Among the other notably successful Negro business men who have told
their stories at meetings of the league are the following: Victor H.
Tulane, of Montgomery, Ala., whose story of small beginnings and
present success stirred his fellows at a meeting of the league. Mr.
Tulane entered the grocery business twenty-five years ago, a business
that any ambitious man of his race may enter, requiring small capital
but unlimited patience and close attention to business. He now owns
considerable property, and is a factor in all matters that concern his
race in Montgomery, being regarded by white and colored citizens alike
as Montgomery's first colored citizen. Mr. Tulane says: "Twenty-five
years ago I was a renter; to-day I am landlord of not a few tenants.
Twenty-five years ago my stock represented less than a hundred
dollars; at the present time it values several thousands. Twenty-five
years ago I had but one helper--a small boy; to-day I employ on an
average of seven assistants the year round, excluding my wife and
self. Twenty-five years ago I bought lard in five-pound quantities;
to-day I purchase by the barrel. Twenty-five years ago I bought salt
in