5 Forgotten early twentieth century Black-owned companies

1. Afro American Funding Firm

The 1925 plat of West Augustine’s Afro American Subdivision. | State of Florida

The Afro American Funding Firm was organized by Abraham Lincoln Lewis and William H. Lee throughout the top of the Twenties Florida Land Growth. Initially a subsidiary of the bigger Afro-American Life Insurance coverage Firm, the corporate invested a few of its sources in actual property, buying heaps from tax gross sales and redividing older subdivisions for resurgent development in black communities

In 1925, the corporate developed the biggest funding within the West Augustine neighborhood in St. Augustine. Containing 33 blocks and tons of of small heaps, the Afro-American Subdivision of the Dancy Tract, St. Augustine, Florida” was formally filed in March 1925. By the Nineteen Forties, the event firm had opened a number of residential subdivisions in Jacksonville and in West Augustine.

In 1935, after his retirement, Lewis started directing the acquisition and growth of American Seashore as a seaside resort on Amelia Island in Nassau County.

2. Capital Belief & Funding Firm

A portrait of Sylvanus Henry Hart. | College of North Florida

Sylvanus Henry Hart was born in Darlington, South Carolina on August 29, 1860. A Civil Struggle veteran, his father Eli Hart, moved the household to Jacksonville after the Emancipation. Rising up in Hansontown, Hart labored as a brick mason and constructing contractor earlier than launching the Capital Belief & Funding Firm on October 6, 1902.

Positioned at 11 Cedar (now Pearl) Avenue, the Capital Belief & Funding Firm was Florida’s first Black-owned financial institution and commenced enterprise with a capital of $10,000. Its authentic officers have been Hart serving as president, E.W. Robinson as secretary, George H. Mays as treasurer, and Charles C. Davis, H.H. Inexperienced of Jacksonville and J.N. Clinton of Gainesville as administrators. This endeavor proved profitable and by 1904 it held $20,000 in paid-in-capital. By then it had 500 depositors, twenty of whom have been white.

By 1907, the financial institution had established change relations with a number of of the massive New York banks and belonged to the Bankers’ Cash Order Affiliation, issuing cash orders which might be payable wherever in or out of this nation.

Monetary success led to Hart being value over $100,000 in 1912 (equal to $3,253,660 in 2025) and the household residing in a big construction situated at 512 West Ashley Avenue in LaVilla.

Profiting from his wealth, Hart spent six months in Europe in 1913 and in 1922, spent appreciable time in Cuba and Mexico for pleasure. By 1924, Hart additionally owned a New York residence at 76 Edgecombe Avenue in Harlem. When Hart closed his financial institution in 1926, all of his depositors obtained their cash in full. Hart’s early twentieth century pioneering paved the best way for 2 further Black-owned banks, the Woodman Banking Firm and Anderson & Firm Bankers, to open in Jacksonville earlier than World Struggle I. Sylvanus Henry Hart died on the age of 73 in 1933.

3. Citizen’s Industrial Insurance coverage Firm

W.W. Parker’s regulation follow was situated at 322.5 Broad Avenue in LaVilla. | Ennis Davis, AICP

Born in Nassau, Bahamas, Walter Wilfred Parker got here to america as a pupil in August 1903. Settling in Jacksonville, he landed a job as an insurance coverage agent for the Union Mutual Insurance coverage Firm in 1908. After passing the bar examination, he resigned from his administration place at Union Mutual to follow regulation.

Nonetheless, inspired to return to the native insurance coverage business, Parker organized Citizen’s Industrial Insurance coverage Firm in Jacksonville in 1922 with J.A. Colyer, E. Vaughn, I.E. Williams, S.D. McGill, Rosa B. Matthews, L.F. Armitage, F.J. Thorington and I.A. White.

The corporate, situated at 610 Broad Avenue, quickly grew to incorporate twenty staff at its dwelling workplace and 175 subject power staff in 1928 and internet belongings in extra of $75,000, capital of $25,000 and over 25,000 policyholders in 1929.

These belongings included a two-story brick workplace constructing at Broad and Duval Streets in LaVilla. The higher flooring was workplaces rented to African American tenants, together with the house workplaces of the corporate. The bottom flooring was leased to white tenants working a dry items retailer, a meat market and a confectionery. The corporate additionally owned $2,000 value of rental property in one other part of town, $1,500 in rental property in West Palm Seashore, and $1,200 in actual property in Bartow, FL. Whereas very profitable, stress with the enterprise proved to be detrimental to Parker’s well being. Throughout these years of fast development, Parker additionally continued to function a separate regulation enterprise. In 1931, trying to achieve a greater work life steadiness, Parker chosen to proceed training regulation and bought his Citizen’s Industrial Insurance coverage Firm as a way to cut back his workload

4. Florida Residence and Funding Company (Union Funding Firm)

An early twentieth century Union Funding Firm Florida Sentinel commercial. | Jerry Urso

The Florida Residence and Funding Company was established in 19xx. A Black-owned actual property growth agency, the company was also called the Union Funding Firm. The true property growth agency owned 10,000 acres in Bradford County that was subdivided and bought as 5, ten, twenty and forty acre farms. Producing backyard greens and citrus was very worthwhile throughout the early twentieth century. The company additionally owned massive quantities of land inside town limits as part of its holdings.

In 1916, its officers and administrators included a number of outstanding Jaxsons and enterprise colleagues dwelling in Tampa, Durham, NC, Rome, GA, Washington, GA, Opelika, AL, and Springfield, MA. Charles H. Anderson, president of the Anderson & Firm Financial institution, was one of many largest stockholders within the company. As well as, between 1917 and 1920, the corporate developed three separate subdivisions in St. Augustine.

For a few years, the event agency’s headquarters was situated at 441.5 Broad Avenue (1916). The affect of the Union Funding Firm prolonged past Florida. Investor G.H. Bowden relocated from Jacksonville to Savannah and by 1913 was recognized in that city as “The Actual Property Man,” routinely operating adverts within the Savannah Tribune paper claiming that there isn’t a higher funding on Earth than the Earth itself.

5. Union Mutual Insurance coverage Firm

An early twentieth century Union Mutual Insurance coverage Firm commercial. | Jerry Urso

*“It’s our goal to construct an establishment that may allow the educated coloured youth to search out employment that provides him a chance to benefit from his coaching.”

• Henrietta Albertina Ewart Sumter, 1919*

William and Henrietta Sumter relocated from Savannah, GA to Jacksonville after the Nice Fireplace of 1901. By 1902, the Sumters resided at 718 Bridge Avenue in LaVilla and William was employed as a brick mason. In 1903, William Sumter had partnered in the actual property enterprise with W. B. Watson. Their Watson & Firm actual property enterprise was situated on the northeast nook of Bridge and Adams Streets.

On February 1, 1904, the Union Mutual Insurance coverage Firm was established with ten staff. By 1910, Sumter’s Union Mutual Insurance coverage Firm was thought-about to be one of many stanchest Afro-American corporations within the south with hundreds of coverage holders amongst all lessons of individuals.

Two years later, Sumter was an influential determine with the Jacksonville Negro Enterprise League. Together with Joseph Blodgett, A.L. Lewis, Charles Anderson, Lawton Pratt and others, the Jacksonville Negro Enterprise League organized for Tuskeegee’s Booker T. Washington to conduct a Florida tour ending in Jacksonville.Arriving by particular prepare from Daytona Seashore, Washington visited a number of faculties and factors of curiosity and attended a banquet in Outdated Fellows Corridor. He additionally gave a speech to 2,500 residents on the Duval Theatre.

As well as, Sumter was treasurer of St. Philips Episcopal Church on Pearl Avenue and secretary-manager of the Florida Residence & Funding Company. With the insurance coverage firm and actual property funding companies booming, Sumter by 1916 the Sumter household had relocated from 534 West Church Avenue in LaVilla to the Sugar Hill neighborhood.

On August 27, 1918, William S. Sumter unexpectedly handed. His spouse, Henrietta Albertina Ewart Sumter, a graduate of Cookman Institute, was elected by the board of administrators to function the following president. By 1919, beneath her management, the insurance coverage firm had grown to make use of 125 staff and greater than forty businesses all through the state.

Through the Nineteen Thirties, the Union Mutual Insurance coverage Firm merged with the Individuals’s Industrial Insurance coverage Firm. Individuals’s Industrial Insurance coverage Firm was one other massive Black-owned firm headquartered in Jacksonville. After the merger, Henrietta Sumter served as the corporate’s assistant secretary. After that firm was acquired by the Afro-American Life Insurance coverage Firm in 1934, Mrs. Sumter ultimately retired to her Sugar Hill property situated at 1934 Jefferson Avenue. Whereas she left the enterprise, her youngsters continued to be employed with the Afro-American Life Insurance coverage Firm.

Editorial by Ennis Davis, AICP. Contact Ennis at edavis@moderncities.com