Julian Price
Encyclopedia
Julian Price was an insurance executive who made his fortune in the first part of the twentieth century by developing the Jefferson Standard Life Insurance Company, at the time the largest corporation in North Carolina.
. His parents were Joseph Jones Price and Margaret (Hill) Price. He was educated in the Virginia public schools. Price married Ethel Clay, the daughter of Henry De Bois Feuillet Clay, in Meehum River, Virginia on August 22, 1897. They had two children: Kathleen Marshall, who married Joseph McKinley Bryan
, and Ralph Clay Price.
for the Greensboro Life Insurance Company of North Carolina. He became their secretary and later agency manager of that company from 1909 until 1912. In 1912 it merged with the Security Life & Annuity Company of Greensboro
and became the Jefferson Standard Life Insurance Company of Raleigh, North Carolina
, named for Thomas Jefferson
. Price was their vice president as well as their agency manager of the new organization which moved to Greensboro, North Carolina
.
In 1912 it absorbed Security Life and Annuity Company and Greensboro Life Insurance Company. Under Price's leadership its sales increased to almost $10 million by 1919, when he was then promoted, succeeding George A. Grimsley as its president. The Board of Directors remarked The record is a success unparalleled in the history of southern life insurance companies and one beyond our most sanguine expectations. Price continued in that position until 1946 and thereafter was chairman of the board of directors until his death.
In 1923 Jefferson Standard Life Insurance built a 17 story skyscraper
. This building
was the tallest building in North Carolina for several years. After the company moved into its new headquarters under the direction of Julian Price and his "top-notch skills" in salesmenship it increased its sales to $300 million before the Great Depression
. Price became one of the most respected Chief Executive Officer
s in the United States during the 1930s and '40s. His company was a national leader in the insurance industry.
In 1987 Pilot Life Insurance Company no longer existed when Jefferson Standard Life Insurance, who had the controlling interest in it under the directorship of Price since 1930, merged that company into themselves. The newly formed Fortune 500
Jefferson-Pilot Life Insurance Company was then one of the nation's largest shareholder-owned life insurance companies. In 2006 it was bought out by Lincoln National Corporation
.
In 1919 Price bought the Greensboro Daily Record newspaper.
on October 25, 1946 in an automobile accident. His son took over leadership of Jefferson Standard Life Insurance Company for the next four years as its president. The insurance company that Julian Price developed ultimately became a Fortune 500
company.
The 4200 acres (17 km²) of the Julian Price Memorial Park
acquired by Price in the 1930s and '40s for his own recreational use is directly adjacent to the 3500 acres (14.2 km²) of Moses H. Cone Memorial Park
obtained by Moses H. Cone
. Together they are now the largest developed recreational areas for public use on the Blue Ridge Parkway
. The man made lake within Julian Price Memorial Park is called Price Lake and they were both developed out in Price's honor for public use.
Childhood to midlife
Price was born on November 25, 1867, in Richmond, VirginiaRichmond, Virginia
Richmond is the capital of the Commonwealth of Virginia, in the United States. It is an independent city and not part of any county. Richmond is the center of the Richmond Metropolitan Statistical Area and the Greater Richmond area...
. His parents were Joseph Jones Price and Margaret (Hill) Price. He was educated in the Virginia public schools. Price married Ethel Clay, the daughter of Henry De Bois Feuillet Clay, in Meehum River, Virginia on August 22, 1897. They had two children: Kathleen Marshall, who married Joseph McKinley Bryan
Joseph M. Bryan
Joseph McKinley Bryan was an American insurance executive, broadcast pioneer, and philanthropist.Born in Elyria, Ohio, Bryan was the second son of Bart and Caroline Ebert Bryan. After serving overseas in World War I, he returned to New York City to take a job with a cotton firm. In 1923 he became...
, and Ralph Clay Price.
Adult and career
Price entered the insurance field as an insurance salesman solicitor from 1905 to 1909 in Norfolk, VirginiaNorfolk, Virginia
Norfolk is an independent city in the Commonwealth of Virginia in the United States. With a population of 242,803 as of the 2010 Census, it is Virginia's second-largest city behind neighboring Virginia Beach....
for the Greensboro Life Insurance Company of North Carolina. He became their secretary and later agency manager of that company from 1909 until 1912. In 1912 it merged with the Security Life & Annuity Company of Greensboro
Greensboro, North Carolina
Greensboro is a city in the U.S. state of North Carolina. It is the third-largest city by population in North Carolina and the largest city in Guilford County and the surrounding Piedmont Triad metropolitan region. According to the 2010 U.S...
and became the Jefferson Standard Life Insurance Company of Raleigh, North Carolina
Raleigh, North Carolina
Raleigh is the capital and the second largest city in the state of North Carolina as well as the seat of Wake County. Raleigh is known as the "City of Oaks" for its many oak trees. According to the U.S. Census Bureau, the city's 2010 population was 403,892, over an area of , making Raleigh...
, named for Thomas Jefferson
Thomas Jefferson
Thomas Jefferson was the principal author of the United States Declaration of Independence and the Statute of Virginia for Religious Freedom , the third President of the United States and founder of the University of Virginia...
. Price was their vice president as well as their agency manager of the new organization which moved to Greensboro, North Carolina
Greensboro, North Carolina
Greensboro is a city in the U.S. state of North Carolina. It is the third-largest city by population in North Carolina and the largest city in Guilford County and the surrounding Piedmont Triad metropolitan region. According to the 2010 U.S...
.
In 1912 it absorbed Security Life and Annuity Company and Greensboro Life Insurance Company. Under Price's leadership its sales increased to almost $10 million by 1919, when he was then promoted, succeeding George A. Grimsley as its president. The Board of Directors remarked The record is a success unparalleled in the history of southern life insurance companies and one beyond our most sanguine expectations. Price continued in that position until 1946 and thereafter was chairman of the board of directors until his death.
In 1923 Jefferson Standard Life Insurance built a 17 story skyscraper
Skyscraper
A skyscraper is a tall, continuously habitable building of many stories, often designed for office and commercial use. There is no official definition or height above which a building may be classified as a skyscraper...
. This building
Jefferson Standard Building
The Jefferson Standard Building is a 233 ft skyscraper in Greensboro, North Carolina. It was completed in 1923 as the headquarters for Jefferson Standard Life Insurance Co. and has 18 floors...
was the tallest building in North Carolina for several years. After the company moved into its new headquarters under the direction of Julian Price and his "top-notch skills" in salesmenship it increased its sales to $300 million before the Great Depression
Great Depression
The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...
. Price became one of the most respected Chief Executive Officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
s in the United States during the 1930s and '40s. His company was a national leader in the insurance industry.
In 1987 Pilot Life Insurance Company no longer existed when Jefferson Standard Life Insurance, who had the controlling interest in it under the directorship of Price since 1930, merged that company into themselves. The newly formed Fortune 500
Fortune 500
The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...
Jefferson-Pilot Life Insurance Company was then one of the nation's largest shareholder-owned life insurance companies. In 2006 it was bought out by Lincoln National Corporation
Lincoln National Corporation
Lincoln National Corporation is a Fortune 200 American holding company, which operates multiple insurance and investment management businesses through subsidiary companies...
.
In 1919 Price bought the Greensboro Daily Record newspaper.
Death and after
Julian Price died in North Wilkesboro, North CarolinaNorth Wilkesboro, North Carolina
North Wilkesboro is a town in Wilkes County, North Carolina, United States. The population was approximately 4,116 at the 2000 census and is now 4,245 as of the 2010 census. North Wilkesboro is the birthplace and original home of Lowe's Home Improvement, which continues to have a major presence in...
on October 25, 1946 in an automobile accident. His son took over leadership of Jefferson Standard Life Insurance Company for the next four years as its president. The insurance company that Julian Price developed ultimately became a Fortune 500
Fortune 500
The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...
company.
The 4200 acres (17 km²) of the Julian Price Memorial Park
Julian Price Memorial Park
Julian Price Memorial Park is a park of at the foot of Grandfather Mountain in North Carolina, named in honor of Julian Price. It is at milepost 297 on the Blue Ridge Parkway and directly adjacent to the Moses H. Cone Memorial Park. Together these parks comprise the largest developed area set...
acquired by Price in the 1930s and '40s for his own recreational use is directly adjacent to the 3500 acres (14.2 km²) of Moses H. Cone Memorial Park
Moses H. Cone Memorial Park
The Moses H. Cone Memorial Park is a country estate in honor of Moses H. Cone in Blowing Rock, North Carolina. It is on the Blue Ridge Parkway between mileposts 292 and 295 with access at Milepost 294. Most locals call it Cone Park. The park is run by the National Park Service and is open to the...
obtained by Moses H. Cone
Moses H. Cone
Moses Herman Cone was an American textile entrepreneur, conservationist, and philanthropist of the Gilded Age who was active in the southern United States...
. Together they are now the largest developed recreational areas for public use on the Blue Ridge Parkway
Blue Ridge Parkway
The Blue Ridge Parkway is a National Parkway and All-American Road in the United States, noted for its scenic beauty. It runs for 469 miles , mostly along the famous Blue Ridge, a major mountain chain that is part of the Appalachian Mountains...
. The man made lake within Julian Price Memorial Park is called Price Lake and they were both developed out in Price's honor for public use.
Positions and posts
Julian Price was employed by, associated with, or a member of the following:- Member Life Insurance Association of America.
- Director of the Mooresville Mills of North CarolinaMooresville Mill VillageMooresville Mill Village, located in Mooresville, North Carolina, USA was built by the Mooresville Cotton Mills in the early 20th century. Like many mill villages of the south, Mooresville Mill Village was a self-sufficient village within the town limits of Mooresville...
. - Member of the International Acquaintance League.
- Member of Benevolent and Protective Order of ElksBenevolent and Protective Order of ElksThe Benevolent and Protective Order of Elks is an American fraternal order and social club founded in 1868...
. - Member of the Institute of Life Insurance Association.
- Member of the Masonic order (Knight Templar, Shriner).
- Member of the Association of Life Insurance Presidents.
- Member of the Greensboro Merchants and Manufacturers.
- Member of the Rotary ClubRotary InternationalRotary International is an organization of service clubs known as Rotary Clubs located all over the world. The stated purpose of the organization is to bring together business and professional leaders to provide humanitarian service, encourage high ethical standards in all vocations, and help...
of Greensboro, North Carolina. - Member of the National Council of National Economic League.
- Member of the Congressional Country ClubCongressional Country ClubThe Congressional Country Club is a country club and golf course in Bethesda, Maryland, USA. Congressional opened in 1924 and has hosted three U.S. Opens and a PGA Championship, and is an annual stop on the PGA Tour, with the AT&T National, hosted by Tiger Woods. The tournament was first...
of Washington, D.C.Washington, D.C.Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution.... - Member of Country and Sedgefield Country ClubCountry clubA country club is a private club, often with a closed membership, that typically offers a variety of recreational sports facilities and is located in city outskirts or rural areas. Activities may include, for example, any of golf, tennis, swimming or polo...
s of Greensboro. - President of Atlantic and Yadkin RailwayAtlantic and Yadkin RailwayThe Atlantic and Yadkin Railway was a short line railroad within North Carolina from 1899-1950. It ran from Mount Airy southeast to Sanford, primarily serving the Piedmont region...
from 1919 until his death. - Headed North Carolina state salary and wage commission 1924-28.
- Solicitor for American Tobacco CompanyAmerican Tobacco CompanyThe American Tobacco Company was a tobacco company founded in 1890 by J. B. Duke through a merger between a number of U.S. tobacco manufacturers including Allen and Ginter and Goodwin & Company...
from 1903 to about 1905. - Southern Railway 1887-1903 as telegraph operator and ticket agent.
- Solicitor for Jefferson Standard Life Insurance Company 1905 - 1909.
- President of the Jefferson Standard Life Insurance Company from 1919.
- Chief Executive Officer/Director Pilot Life Insurance CompanyLincoln National CorporationLincoln National Corporation is a Fortune 200 American holding company, which operates multiple insurance and investment management businesses through subsidiary companies...
from 1919.
- Trustee of the North Carolina Agricultural and Technical State UniversityNorth Carolina Agricultural and Technical State UniversityNorth Carolina Agricultural and Technical State University is a land-grant university located in Greensboro, North Carolina, United States. It is the largest publicly funded historically black college in the state of North Carolina.NC A&T is a constituent institution of the University of North...
. - Member / Director GreensboroGreensboro, North CarolinaGreensboro is a city in the U.S. state of North Carolina. It is the third-largest city by population in North Carolina and the largest city in Guilford County and the surrounding Piedmont Triad metropolitan region. According to the 2010 U.S...
Chamber of CommerceChamber of commerceA chamber of commerce is a form of business network, e.g., a local organization of businesses whose goal is to further the interests of businesses. Business owners in towns and cities form these local societies to advocate on behalf of the business community...
and City Council. - Trustee for Richardson Memorial Hospital of Greensboro, North Carolina.
- Member of the national advisory committee of 1939 New York World's Fair1939 New York World's FairThe 1939–40 New York World's Fair, which covered the of Flushing Meadows-Corona Park , was the second largest American world's fair of all time, exceeded only by St. Louis's Louisiana Purchase Exposition of 1904. Many countries around the world participated in it, and over 44 million people...
. - President Federal Home Loan Bank of Winston-Salem, North CarolinaWinston-Salem, North CarolinaWinston-Salem is a city in the U.S. state of North Carolina, with a 2010 population of 229,617. Winston-Salem is the county seat and largest city of Forsyth County and the fourth-largest city in the state. Winston-Salem is the second largest municipality in the Piedmont Triad region and is home to...
1932-33.