Profile â„–15 BEHI-P015-AGG

A. G. Gaston

1892–1996

Insurance Founder · Funeral Services · Banking · Education · Hospitality

LIFE: July 4, 1892 · Demopolis, Alabama · January 19, 1996 · Birmingham, Alabama
GEOGRAPHIC REACH: Birmingham, Alabama · Alabama and the Southern United States

Economic Impact

TAKEAWAY: Employer requests, reported graduates, referrals, and verified hires are different measures. The inspected material does not establish a placement rate, wage effect, or verified employment total.

ECONOMIC IMPACT

Employee ownership plan — inspected federal filing extracts

1992 and 2009 Form 5500, Booker T. Washington Insurance Company, Inc. ESOP, EIN 63-0220465, plan 002, released under FOIA 2027-F-00524. Both report January 1, 1987 as effective date. Classification: inspected plan-reported figures, not an independently inspected audit.

MeasureReported valueLocator
1992 total / active participants296 / 205p. 2, item 7
1992 participants with account balances256p. 2, item 7g
Employer securities, beginning / end$4,395,855 / $4,402,6651992 p. 5, 31d(1)
Total assets, beginning / end$4,895,855 / $4,402,665p. 5, 31f
Total liabilities, beginning / end$1,278,155 / $888,319p. 5, 31k
Net assets, beginning / end$3,617,700 / $3,514,346p. 5, 31l
Employer contributions received or receivable$187,296p. 6, 32a
Direct benefit payments$229,083p. 6, 32e
Interest expense$54,858p. 6, 32f
Trustee expense / AmSouth compensation$15,1661992 p. 6, 32g; Schedule C p. 1
2009 total / active participants106 / 02009 p. 2, item 6
2009 receiving benefits / future benefits55 / 51p. 2, 6b–c
2009 participants with account balances51p. 2, 6g

Reconciliation: 1992 income $195,753 less expenses $299,107 equals a $103,354 decrease, reconciling opening and closing net assets. Schedule C names AmSouth Bank N.A. as trustee; its $15,166 fee matches the main form. The filing also reports sponsor-paid administrative expenses outside line 32g; listed plan expenses are not necessarily all administration costs.

Limits: Employer-security holdings are plan assets, not the whole company valuation or Gaston’s wealth. These filings do not establish original purchase price, ownership percentage, equal worker allocations or Gaston’s personal proceeds. Blank acquisition indebtedness does not prove an originally debt-free purchase. Zero active participants in 2009 does not alone establish termination.

Missing attachments: 1992 accountant opinion, financial statements/notes and investment schedule; 2009 Schedules H and R marked attached but not supplied. No 2009 asset totals are inferred. 1987–1990 filings remain unrecovered; EBSA reports no retained pre-1992 filings. Completeness clarification requested; legacy SPD referral to PBGC remains open. Source coverage.

Employment outcomes — evidence distinctions

Employer demand: Minnie L. Gaston's correspondence reported more than 250 requests for workers; these are requests for personnel, not a count of completed placements. Reported graduates: a contemporary 1965 account attributed more than 8,000 graduates to the college; this figure has not been reconciled with enrollment and graduation registers. Named placements: the 1966 Senate hearing points to a partial list of employers and graduates in the 1965 House H.R. 6468 hearing, pp. 104–107. The underlying pages, employer names, positions, and resulting employment outcomes await inspection.

BEHI will distinguish (1) employer inquiries, (2) referrals, (3) documentary evidence of hires, and (4) independently corroborated employment outcomes. No placement rate, wage impact or verified employment total can yet be calculated from the material inspected.

Measured economic activity — 1946 advertising evidence: Correspondence, advertising statements and receipts preserved in NAACP Records, Library of Congress, Box II:F4, document Booker T. Washington Business College's paid advertising relationship with The Crisis and related correspondence involving Smith & Gaston. These show a specific historical marketing activity and business administration, not a reliable measure of the college's total advertising expenditures, student recruitment, revenue, or employment outcomes. Several $4.90 entries require reconciliation before totals can be reported. See Receipts for the primary-source citation and limitations.

Economic impact is best assessed through measurable business services, capital access, training and employment—not unverified estimates of one man's fortune. This section distinguishes observed records, reported figures and outcomes requiring original ledgers.

Separate measures—not interchangeable totals

MeasureAvailable evidenceHow BEHI interprets it
College enrollment473 students reported for fall 1986 in a federal directory.A point-in-time headcount, not cumulative graduates or tuition revenue.
Published college tuition$925 figure reported for 1987–88.Published tuition indicator, not collected fees or net income.
Employer demandMinnie Gaston reported 250-plus requests for clerical staff in 1966.Recruitment requests, not confirmed placements.
Reported alumniA contemporary report attributed 8,000-plus graduates to Minnie in 1965.Reported claim; audited graduate rosters pending.
Funeral financingA $50,000 arrangement is described in secondary accounts.Do not classify as confirmed loan before original mortgage.
Insurance statementsAlabama insurer examination reportCompany-level condition, ownership and accounting findings; not personal net worth.
ECONOMIC IMPACT at a Glance
Person:
A. G. Gaston · 1892–1996
Enterprise:
Insurance · Finance · Services · Education
Status:
Research in Progress

KEY ECONOMIC INDICATORS

Each measure identifies its entity, period, source and evidence limits. Dollar amounts are nominal historical U.S. dollars. Assets, revenue, profit, transaction amounts and employment measures are distinct. “Not yet established” identifies a research gap, not zero or “not applicable.”

MEASURE / VALUEENTITY / PERIODSOURCE / LOCATORCONTENT CONDITION / EVIDENCE CLASSIFICATIONINTERPRETATION / LIMITS
Total income
$11,597.66
Booker T. Washington Burial Society
1926
Alabama insurance report, 1926; printed p. 414 / PDF p. 415.Documented
VERIFIED
Inspected regulatory report; Society income, not Gaston’s personal earnings. Corporate continuity requires separate evidence.
Certificates in force
1,000
Booker T. Washington Burial Society
December 31, 1926
Alabama insurance report, 1926; printed p. 414 / PDF p. 415.Documented
VERIFIED
Certificates outstanding, not employment, profit or people enriched.
Admitted assets
$52,313.54
Booker T. Washington Burial Insurance Company
December 31, 1936
Alabama insurance report, 1936; printed p. 176 / PDF p. 181; HathiTrust hvd.hl2d7u.Documented
VERIFIED
Company assets, not personal wealth. Do not merge distinct corporate entities or periods.
Total income
$57,363.60
Booker T. Washington Burial Insurance Company
1936
Alabama insurance report, 1936; printed p. 176 / PDF p. 181; HathiTrust hvd.hl2d7u.Documented
VERIFIED
Income before disbursements; not net profit.
Verified employment placements
Not yet established
Booker T. Washington Business College
Reporting period not established
Research gap; see Evidence & Context and Receipts.Not yet established
Evidence classification: not assigned to an unresolved answer.
Reported employer requests and graduates do not establish hires, placement rates or wage outcomes.
Research Gap: Verified employment placements

For evidence-label definitions, see the Receipts evidence guide.

CHANNELS OF ECONOMIC IMPACT

Insurance-company figures

Regulatory reports identify admitted assets, revenue, obligations and certificates; different corporate identities and years must not be collapsed.

Educational opportunity

250-plus reported employer inquiries differ from hires; 8,000-plus reported graduates await institutional register reconciliation.

Banking scale

The 2002 SEC-filed statement reports assets, deposits and loans at the institution level, decades after founding.

EVIDENCE & CONTEXT

MeasureIllustrative evidenceCorrect interpretation
1926 certificates1,000 reported in forceCertificates outstanding, not customers personally enriched
1931 insurer admitted assets$9,511.46Insurer's admitted assets, not shareholder wealth
March 2002 bank assets$108 million reportedCFS corporate assets, not Gaston's estate
Employer requestsMore than 250 reportedStaff requests, not verified job placements
BEHI RESEARCH STANDARD
WHAT THE RECORD ALLOWS US TO SAY

Company assets, premium income, deposits, employment inquiries and personal net worth are five distinct quantities. Any chart must label entity, year, source and unit.

THE RECORD & ITS LIMITS

Financial analysis must distinguish corporation from owner; premiums from earnings; asset values from profits; applications from enrolled students; and referrals from hired graduates.

1936 regulatory financial statement — Booker T. Washington Burial Insurance Company

Inspected state report, printed p. 176 (PDF page 181) and insurance-activity comparison, printed p. 146 (PDF page 151). Values below represent the company, in nominal dollars.

Measure1936 reported figure
Capital stock$6,050.00
Total income$57,363.60
Total disbursements$49,807.34
Admitted assets$52,313.54
Liabilities$28,755.52
Surplus over liabilities and capital$17,508.02
Insurance in force at year-end$1,450,742.00

1935 comparative correction: The 1936 regulator's activity table shows $1,127,321.00 of insurance in force at December 31, 1935, for the Booker T. Washington Burial Insurance Company. A previously published $278,190.00 figure was attached to the wrong company row and must not be treated as Gaston's insurer's 1935 coverage. The other previously displayed 1935 values have been withdrawn pending line-by-line rereading of the 1935 tables; the 1936 comparative year-end figure is not a substitute for all financial statements.

Primary source: Alabama Superintendent of Insurance, Annual Report for the Year Ending December 31, 1936, print pp. 146 and 176; digitized HathiTrust volume hvd.hl2d7u. Regulatory company income, insurance in force, assets, and surplus are not Gaston's personal income or wealth.

1926 regulatory financial baseline — Booker T. Washington Burial Society

Alabama's published annual report records the early activities of the burial society headed by A. G. Gaston. Values are 1926 nominal U.S. dollars and refer to the Society, not Gaston's personal finances or the distinct Booker T. Washington Life Insurance Company.

Reported measure1926 amount
Total income$11,597.66
Total disbursements$12,103.24
Admitted assets at December 31$1,345.17
Liabilities, excluding capital$531.64
Reported surplus over liabilities$813.53
Certificates in force, December 311,000

Interpretation: The report demonstrates a functioning burial-assistance enterprise with stated service activity and contemporaneous financial reporting. Income, expenditure, surplus, asset value and insurance coverage are different measures; none is a statement of A. G. Gaston's personal net worth. Do not assume this 1925-chartered Society is legally identical to the enterprise later described as incorporated in 1931 without the underlying corporate chain.

Primary source: Alabama Superintendent of Insurance, Annual Report for the Year Ending December 31, 1926, printed p. 414 / digital PDF p. 415 (Gerry Waters research transmission, October 2026); Alabama Department of Archives and History, State Publications Database. Read the document locator and evidence qualifications in the Receipts tab.

1935 company comparison — historical correction

Prior 1935 numerical table withdrawn: The old comparative entry incorrectly attributed $278,190 insurance in force and associated amounts to Booker T. Washington Burial Insurance Company. The 1936 Alabama report instead records $1,127,321 of insurance in force at December 31, 1935, for the Booker T. Washington company. Other 1935 accounting figures previously displayed here are withheld until the 1935 source tables can be checked against the correct company row. The withdrawn table is not evidence of Gaston company financial condition.

See the corrected 1936 regulator statement and the Receipts correction log. 1936 regulatory source, printed p. 146, PDF p. 151. Original 1935 reproduction preserved pending reconciliation.

Early insurance-company financial snapshots

YearCapitalIncomeDisbursementsAdmitted assetsLiabilities*Surplus
1931$5,000.00$32,485.16$32,586.94$9,511.46$4,406.00Not stated in cited table
1933$5,000.00$29,022.47$26,976.52$19,002.73$5,554.49$8,448.24

*Liabilities excluding capital stock. These figures are company-level regulatory data and should not be treated as Gaston’s personal income, wealth, or ownership percentage.

HISTORY WITH RECEIPTS™

Claims remain subject to individual source review. Additional archival material will be added as evidence is recovered.

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