Yeah. S-A-U-L. Saul B. Ackerman. A-C-K-E-R-M-A-N. And this was about
three weeks before school closed. He made an announcement that he was
going to do something that he had never done before, and it was to have
exemptions from the final examination. And there were four students who
qualified for exemption. And he read the names, and I was one of them.
And when the class was over, he asked me what I was going to do after
class. I told him I had to go to the post office; I had to be there at
six o'clock. He said, "Well, I'd like
very much for you to drop by my office. There's a matter
I'd like to discuss with you." I said I'd
be happy to. So, I went in and he asked me to be seated. His first
remark was: he knew he had learned of my connection with North Carolina
Mutual, of my working there during
Page 41 the summer. He
had had that much interest to get some background on me. And I guess
being a black student and all, he wanted to get some background on it,
too. He said, "I'd like to take you and make you the
first Negro actuary in America. You can work in my office and get your
practical experience, and I'll teach you the theory on the
job." In other words, on the job training. The thought had
never entered my mind. Because I was there to be a CPA, and the courses
I had taken were to prepare for that. This presented a challenge. And I
always responded favorably to challenges, and I said, "Gee, I
appreciate that. But the officers of North Carolina Mutual are expecting
me to come back there the first of June, full time." He said,
"Well, I'll be glad to go down there and talk with
them, and tell them what I'd like to do." Well,
without belaboring it, I mentioned it to them, and they said
they'd be glad to have him come. And he came. Took the train,
came down in the morning, and went back that afternoon. Met with the
exec. committee and told them just what I told you. Of course, C.C.
Spaulding was president then, and they expressed their proper
appreciation and so forth, for the interest he had shown, and
they'd take it under consideration, and hear from them. So,
Mr. Spaulding went over to Raleigh to see the insurance commissioner,
Dan C. Boney. Well, there was a question in their minds whether or not,
if I went and got the training, I'd be able to practice it.
Because North Carolina Mutual was operating principally in Southern
states. And the actuary society being a closed society anyhow, whether
it would be time wasted or not. So, anyway, Mr. Spaulding went over
there, and they met with him. And he was very open and very fair about
it. He said, "Your company has reached a point in its
development, where it needs its own actuary." See, up to that
time, we had used all consulting actuaries, all white consulting
actuaries. As a matter of fact, the actuary for the Durham Life
Insurance Company,
Page 42 E.T. Burr, was consulting
actuary at that time. He had been the actuary for the insurance
department before he went to the Durham Life Insurance Company. And he
and Mr. F.B. Dilts, who was then actuary for the Home Security, had come
to the Home Security from the insurance department. And he was a
consulting actuary, too. So he told him, "Your company has
reached the point where it needs its own resident actuary. If you have
anyone in your organization who has the appitude for it, and the
interest in it, by all means I would recommend that you encourage it.
The only difference I would make was, instead of him following the
course that has been suggested, that he go to the University of
Michigan." Because the University of Michigan was one of the
two schools in the country then that was preparing, scholastically, the
actuaries. See, some of the insurance companies, like Metropolitan, were
training their own actuaries. They'd take a liberal arts
person, finish his liberal arts course, and bring him in there and carry
him through
[unclear] . It so happened at
that time, that the actuary for the North Carolina Insurance Department
was a Michigan product, too. So he had a double reason for suggesting
the University of Michigan. "If he goes there, he'll
get all the formal training and everything else, and will do it quicker,
than going through this on-the-job training. Naturally it'll
be to the benefit of the company to get it as soon as
possible." So he came on back and told me what had happened.
And I applied to Michigan immediately—the next day. And
fortunately I was accepted, and went there in September.