He also served as the head of the Armenian General Benevolent Union becoming its 4th president from 1943 to 1952, after Boghos Nubar, Calouste Gulbenkian and Zareh Nubar.
They were the only manufacturers of "Gulistan Rug" carpets, a style which they developed.
They were commissioned to make the carpet for Radio City Music Hall in 1932 and for the United States Supreme Court building in 1933.
The manufacturing plant was located in Freehold Borough, New Jersey, where it operated for 60 years before closing in 1964.
[citation needed] Arshag Karagheusian and his wife had the following children: Arshag Karagheusian died on September 24, 1963, in Larchmont, New York.