P.W. Chavers (1876–1933) born Pearl William Chavers, was a banker, entrepreneur, industrialist, philanthropist, African-American journalist, and real estate developer in Chicago, Illinois. He devoted his life to the establishment of a black economy in Chicago, Illinois and in Columbus, Ohio.
P.W. Chavers
Born
1876
Columbus, Ohio
Died
1933
Spouse
Millie Calloway
Children
Helen Madrue Chavers
He started the first National Bank in Chicago for African Americans called the Douglass Bank was the author of a Congressional Bill introduced in 1924 to provide Federal guarantee of bank deposits, known today as the Federal Deposit Insurance Corporation.[1]
Chavers was born in Columbus, Ohio, where his father died when he was a young boy, and at an early age he became an entrepreneur. He worked to help his mother and family financially. He was known to be an ambitious young man. He invested in newspapers by purchasing large supplies of newspapers and set up routes for other boys and make a profit from his investment. He attended Hudson College a business school in Columbus, Ohio. Where he learned how to structure a business, how to form a corporation, and how to market and use stocks and bonds. In 1900 he attended the 1900 Republican National Convention, and met Booker T. Washington.
Careeredit
P.W.'s first enterprise after graduation from Hudson College was the founding of the Columbus Standard newspaper. He was the founder and editor. He advocated for black business development, black voting power, self-help, and industry. The Columbus Standard was later renamed The Ohio Standard World. The Columbus Standard was an African American weekly newspaper from 1898 to 1901.[2][3]
In 1905 Chavers started a women's garment factory in Columbus, Ohio. In 1917 he moved his garment factory to Chicago, Illinois. In 1907 he organized the Lincoln Ohio Industrial Training School for Colored Youth.
After the Red Summer of 1919 and growing bank movement within the African American community,[4] Chavers founded the first nationally chartered Black bank, the Douglass National Bank that received its charter on June 27, 1922. The bank opened on June 29, 1922, after securing the charter in Washington, D.C., a few days prior. Anthony Overton was the president of the bank and the board.[5] There were other Black owned banks in Chicago at the time including the bank owned Jesse Binga who founded the first privately owned African-American bank in Chicago in 1908. The bank later became the Binga State Bank in 1921. The Douglass National Bank and the Binga State Bank became the two most prominent Black banks owned by and servicing the Black Belt of Chicago before the Wall Street Crash of 1929.
In 1908 he wrote, "Conditions that Confront the Colored Race".[6]
In 1926 P.W. Chavers purchased 6,000 acres of land in Langlade County, Wisconsin to create a respite for urban children living in slums. After the 1929 Wall Street economic crash it became difficult for Camp Madrue to survive the economic crash. In June 1930 the economic condition had worsened. In 1930 the Citizen Trust and Savings Bank which funded Chavers land purchase closed. The bank closed due to a "run on the bank", by depositors that feared losing their money. The run on the bank depleted the bank's reserves.
Legacyedit
In 1987 Madrue Chavers-Wright his daughter wrote a family biography called "The Guarantee" which documents the life of her father and family.[7][8]
^Weems, Robert Jr.; Chambers, Jason (10 August 2017). Building the Black Metropolis: African American Entrepreneurship in Chicago. University of Illinois Press. ISBN9780252050022. Retrieved 8 November 2017 – via Google Books.
^Weems, Robert E. (2017). "Contested Terrain". Cite this item. Jstor. pp. 80–98. doi:10.5406/j.ctt1t89kkq.8. ISBN9780252050022. JSTOR 10.5406/j.ctt1t89kkq.8. {{cite book}}: |journal= ignored (help)
^"Old Money from The Douglass National Bank Of Chicago - 12227 - Antique Money". www.antiquemoney.com. 12 June 2013. Retrieved 8 November 2017.
^Office, Copyright (8 November 2017). "Catalogue of copyright entries: Books, dramatic compositions, maps and charts". Retrieved 8 November 2017 – via Google Books.
^Chavers-Wright, Madrue (1 February 1987). The guarantee: P.W. Chavers, banker, entrepreneur, philanthropist in Chicago's Black Belt of the twenties. Wright-Armstead Associates. ISBN9780931505058. Retrieved 8 November 2017 – via Google Books.
^"Bronx Women's History - bronx river sankofa". bronxriversankofa.wordpress.com. 8 March 2014. Retrieved 8 November 2017.
External linksedit
The Great Migration
January 01, 1970
chavers, this, article, needs, additional, citations, verification, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, find, sources, news, newspapers, books, scholar, jstor, february, 2018, le. This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources P W Chavers news newspapers books scholar JSTOR February 2018 Learn how and when to remove this message P W Chavers 1876 1933 born Pearl William Chavers was a banker entrepreneur industrialist philanthropist African American journalist and real estate developer in Chicago Illinois He devoted his life to the establishment of a black economy in Chicago Illinois and in Columbus Ohio P W ChaversBorn1876Columbus OhioDied1933SpouseMillie CallowayChildrenHelen Madrue Chavers He started the first National Bank in Chicago for African Americans called the Douglass Bank was the author of a Congressional Bill introduced in 1924 to provide Federal guarantee of bank deposits known today as the Federal Deposit Insurance Corporation 1 Contents 1 Early life 2 Career 3 Legacy 4 See also 5 References 6 External linksEarly life editChavers was born in Columbus Ohio where his father died when he was a young boy and at an early age he became an entrepreneur He worked to help his mother and family financially He was known to be an ambitious young man He invested in newspapers by purchasing large supplies of newspapers and set up routes for other boys and make a profit from his investment He attended Hudson College a business school in Columbus Ohio Where he learned how to structure a business how to form a corporation and how to market and use stocks and bonds In 1900 he attended the 1900 Republican National Convention and met Booker T Washington Career editP W s first enterprise after graduation from Hudson College was the founding of the Columbus Standard newspaper He was the founder and editor He advocated for black business development black voting power self help and industry The Columbus Standard was later renamed The Ohio Standard World The Columbus Standard was an African American weekly newspaper from 1898 to 1901 2 3 In 1905 Chavers started a women s garment factory in Columbus Ohio In 1917 he moved his garment factory to Chicago Illinois In 1907 he organized the Lincoln Ohio Industrial Training School for Colored Youth After the Red Summer of 1919 and growing bank movement within the African American community 4 Chavers founded the first nationally chartered Black bank the Douglass National Bank that received its charter on June 27 1922 The bank opened on June 29 1922 after securing the charter in Washington D C a few days prior Anthony Overton was the president of the bank and the board 5 There were other Black owned banks in Chicago at the time including the bank owned Jesse Binga who founded the first privately owned African American bank in Chicago in 1908 The bank later became the Binga State Bank in 1921 The Douglass National Bank and the Binga State Bank became the two most prominent Black banks owned by and servicing the Black Belt of Chicago before the Wall Street Crash of 1929 In 1908 he wrote Conditions that Confront the Colored Race 6 In 1926 P W Chavers purchased 6 000 acres of land in Langlade County Wisconsin to create a respite for urban children living in slums After the 1929 Wall Street economic crash it became difficult for Camp Madrue to survive the economic crash In June 1930 the economic condition had worsened In 1930 the Citizen Trust and Savings Bank which funded Chavers land purchase closed The bank closed due to a run on the bank by depositors that feared losing their money The run on the bank depleted the bank s reserves Legacy editIn 1987 Madrue Chavers Wright his daughter wrote a family biography called The Guarantee which documents the life of her father and family 7 8 See also editChicago Black Renaissance Chicago Race Riot of 1919 Great Migration African American History of Chicago Political history of Chicago Racial segregation in the United States History of African Americans in ChicagoReferences edit New York Black Literature bronx river sankofa bronxriversankofa wordpress com 8 March 2014 Retrieved 8 November 2017 Columbus standard Library of Congress Weems Robert Jr Chambers Jason 10 August 2017 Building the Black Metropolis African American Entrepreneurship in Chicago University of Illinois Press ISBN 9780252050022 Retrieved 8 November 2017 via Google Books Weems Robert E 2017 Contested Terrain Cite this item Jstor pp 80 98 doi 10 5406 j ctt1t89kkq 8 ISBN 9780252050022 JSTOR 10 5406 j ctt1t89kkq 8 a href Template Cite book html title Template Cite book cite book a journal ignored help Old Money from The Douglass National Bank Of Chicago 12227 Antique Money www antiquemoney com 12 June 2013 Retrieved 8 November 2017 Office Copyright 8 November 2017 Catalogue of copyright entries Books dramatic compositions maps and charts Retrieved 8 November 2017 via Google Books Chavers Wright Madrue 1 February 1987 The guarantee P W Chavers banker entrepreneur philanthropist in Chicago s Black Belt of the twenties Wright Armstead Associates ISBN 9780931505058 Retrieved 8 November 2017 via Google Books Bronx Women s History bronx river sankofa bronxriversankofa wordpress com 8 March 2014 Retrieved 8 November 2017 External links editThe Great Migration Retrieved from https en wikipedia org w index php title P W Chavers amp oldid 1174855090, wikipedia, wiki, book, books, library,
