The northwestern bulletin., 1923-11-24
New Insurance
Company Being
Backed by Pace
Board of Directors Comprises
Some of Nations Fore
most Financers.
(By the Associated Negro Press)


New York, N. Y, Nov. 24.-An-
nouncement has just been made OF
the organization of the Northeastern
Life Insurance Company with head
quarters at Newark, N. j., with an
authorized capital of s199,999 and an
authorized surplus of the same
amount. The incorporators of the
company are prominent New York
and New Jersey business men who
represent in the aggregate wealth Of
nearly $2.000,000.
The Northeastern Life Insurance
Company is the elimination of a
series of attempts to organize life
insurance company in the northeast
ern section of this country during the
past two or three years. Most of
these efforts were made by white pro-
moters who Immediately abandoned
the project as soon as they did not
earn the commissions which they
thought they should have earned. A
number of these organizations have
been gathered up and the men who
are interested in them have been
welded into one strong group who
are backing the Northeastern Life.
The company is being organized by
two of the most thoroughly expert
enced and best known insurance men
in the country. Harry H. Pace, the
president of the new organization,
was one of the organizers, and for a
number of years was secretary-treas-
urer of the Standard Life Insurance
Company of Atlanta, Ca, which has
grown to such big proportions during
its 10 years of activity. Much Of the
success Of that company is due to the
pioneer work which Mr.. Pace gave to
that organization when it needed eX-
perienced business men. Many of the
men who are now connected with it
were unable to see any future for the
organization until the results of his
work began to be apparent.
Associated with him is Mr.. T. A.
Dickson, who occupies the unique po-
sition of having written and paid for
more life insurance than any other
agent in the race. Mr.. Dickson has
had more than Is years of experience
in the insurance and banking busi-
ness and resigned an important posi-
ton with the Liberty Life of Chicago
to come East and assist in the organ
ization Of the Northeastern Life.
Organizers and Board.
Prominent among the board of di-
rectors and organizers are Mr.. Louis
c. Bulloch, who has served as mayor
of his home town in New Jersey, to-
gether with his brother, James H.
Bulloch, both of whom are retired
business men. Mr.. ]. w. Robertson
and Mr.. Charles J. Hilton are both
large real estate operators, DR.. C. S.
Donnell of Newark, brother Of DR..
Clyde Donnell, medical director of
the North Carolina Mutual, DR.. Louis
T. Wright of New York, who was
Madame C. ]. Walkers personal
physician, Mr.. Ellsworth Mercer and
DR.. S. G. Ebert of Wilmington, Del,
the latter of whom is regarded as one
Of the largest property owners in
Delaware, Mr.. G. T. Young of Phil
adelphia, proprietor of the Sophia
Beauty preparations, DR.. F. NJ. ia
cobs of Brooklyn, the only Negro
member of the Brooklyn Chamber OF
Commerce. and many other promi-
nent men and women.
The attitude Of the other colored
life insurance companies toward this
new organization might be well ex,
pressed by the statement of Mr.. ]. NJ
Avery, vice-president of the North
Carolina Mutual, who in congratulate.
ing Mr.. Pace on the formation of the
company, stated: There is room