Annual Meeting

    November, 1939

    THE Annual Meeting of the Society was held at the Algonquin Club, No. 217 Commonwealth Avenue, Boston, on Tuesday, November 21, 1939, at a quarter after seven o’clock in the evening, the President, Kenneth Ballard Murdock, in the chair.

    With the consent of those present, the reading of the records of the last Stated Meeting was omitted.

    The Corresponding Secretary reported the death on September 24, 1939, of William Otis Sawtelle, a Corresponding Member.

    The Corresponding Secretary reported the receipt of letters from the Reverend Palfrey Perkins, Mr. Morton Peabody Prince, Mr. Frederick Morton Smith, and Mr. Robert Walcott, Jr., accepting Resident Membership in the Society; from Dr. Ernest Caulfield, accepting Corresponding Membership; and from the Reverend Arthur Joseph Riley, accepting Associate Membership.

    Dr. James L. Huntington read the Annual Report of the Council.

    Report of the Council

    DURING the past year the Society has held, as usual, three stated meetings: on December 15, 1938, at the house of Mr. Augustus P. Loring, Jr.; on February 23, 1939, through the hospitality of Mr. Stephen W. Phillips, at the Club of Odd Volumes; and on April 20, 1939, at the Signet Club, Cambridge, where Mr. Philip P. Chase was our host. The attendance has, perhaps, not been quite up to the average of the past decade and certainly has never approached the rich outpouring that heralds the Annual Feast. We must remember that, unlike the army, the Colonial Society should not travel on its stomach.

    The Society has, during the past twelve months, elected the following members:

    Resident:

    • William Greene Roelker
    • Hon. Marcus Morton
    • Austin Warren
    • William Alexander Jackson
    • Rev. Palfrey Perkins
    • Morton Peabody Prince
    • Frederick Morton Smith
    • Robert Walcott, Jr.

    Corresponding:

    • Dr. Ernest Caulfield

    Associate:

    • Rev. Arthur Joseph Riley

    Since the last Annual Meeting we have lost by death from our membership four members:

    Harold Robert Shurtleff, Resident, 1937, died December 6, 1938. Through his connection with the project for the reconstruction of Williamsburg, Virginia, his early interest in American colonial history received a new stimulus, and he spent the last years of his life in systematic study in that field. His book on the “log cabin myth,” which was finished after his death by our fellow member Samuel E. Morison, is shortly to be published.

    Marcus Morton, Resident, 1938, died March 20, 1939. This quiet, kindly gentleman and eminent judge came from a distinguished judicial line. His grandfather was a Justice of the Supreme Judicial Court of Massachusetts and later Governor of the Commonwealth. His father was a Justice of the same court from 1869 to 1891, being Chief Justice during the last nine of these years. Our Marcus Morton was a graduate of Yale and of the Harvard Law School. He practised law in Boston until his appointment to the Superior Court of Massachusetts, of which he had been the senior Justice for several years before his death.

    William Macdonald, Corresponding, 1907, died December 15, 1938. A graduate of Harvard College in the Class of 1892, he was successively professor of history at the Worcester Polytechnic Institute, Bowdoin College, and Brown University. After a period of lecturing at the University of California and at Yale he devoted his energies to writing and reviewing from 1926 until his death.

    William Otis Sawtelle, Corresponding, 1924, died September 24, 1939. A physicist by profession, he gave unsparingly of his energies to his historical avocation: the establishment of a museum which should perpetuate the life, history, industries, and customs of the people on the Maine Coast. This he accomplished on Cranberry Isle, and the results of his efforts will prove an enduring monument to his devoted effort.

    The editor has in progress a new volume of the Society’s publications, which will contain the first printed text of Charles Morton’s Compendium Physicae, a. textbook used in manuscript form at Harvard College in the late seventeenth and early eighteenth century.

    As has been our custom in recent years, the Society has generously supported the New England Quarterly and has this past year made an added donation to make possible an index for the first ten volumes of this valuable publication.

    The Treasurer presented his Annual Report as follows:

    Report of the Treasurer

    In accordance with the requirements of the By-laws, the Treasurer submits his Annual Report for the year ending November 14, 1939.

    STATEMENT OF ASSETS AND FUNDS, NOVEMBER 14, 1939

    ASSETS

    Cash:

       

    Income

    $13,481.79

     

    Loan to Principal

    6,049.71

    $7,432.08

    Investments at Book Value:

       

    Bonds (Market Value $89,792.50)

    $83,170.42

     

    Stocks (Market Value $52,819.37)

    49,557.94

     

    Mortgages

    7,500.00

     

    Savings Bank Deposit

    3,226.33

    143,454.69

    Total Assets

     

    $150,886.77

    FUNDS

    Funds

     

    $137,178.65

    Income:

       

    General Income

    $13,481.79

     

    Martha Rebecca Hunt Fund Income

    226.33

    13,708.12

    Total Funds

     

    $150,886.77

    Investments as of November 14, 1939

    BONDS

     

    Book Value

     

    $5,000

    Bell Telephone Company of Canada First 5’s, Series B, 1957

    $4,062.50

     

    5,000

    Canadian Pacific Railway Equipment Trust 5’s, 1944

    3,872.50

     

    5,000

    Chester Water Service Company First 4½’s, 1958

    3,375.00

     

    $5,000

    Chicago Junction Railways and Union Stock Yards Company Mortgage and Collateral Trust Refunding 5’s, 1940

    $3,762.50

     

    5,000

    Columbia Gas and Electric Corporation Debenture 5’s, 1952

    4,763.28

     

    5,000

    Community Public Service Company First 4’s, 1964

    5,137.50

     

    5,000

    Consolidated Oil Company Convertible Debenture 3½’s, 1951

    5,169.62

     

    5,000

    Minneapolis, St. Paul and Sault Ste. Marie Railway Company First Refunding 6’s, Series A, 1946

    250.00

     

    5,000

    New York State Electric and Gas Corporation First 4½’s, 1980

    4,795.78

     

    5,000

    Pacific Gas and Electric Company First and Refunding 3¾’s, Series H, 1961

    5,382.12

     

    5,000

    Public Service Company of New Hampshire First 3¼’s, Series F, 1966

    5,148.75

     

    5,000

    Scranton Gas and Water Company Firs 4½’s, 1958

    5,068.75

     

    5,000

    Southern California Edison Company First and Refunding 3¾’s, Series B, 1960

    5,075.00

     

    5,000

    Texas Electric Service Company First 5’s, 1960

    4,437.50

     

    2,500

    United States Cold Storage Corporation First 6’s, Series A, 1946

    2,500.00

     

    4,000

    United States Cold Storage Corporation First 6’s, 1945

    4,000.00

     

    8,000

    United States Savings Bonds, Series D, October 1, 1949

    6,000.00

     

    5,000

    United States Steel Corporation Debenture 3¼’s, 1948

    5,232.12

     

    5,000

    Western Union Telegraph Company 5’s, 1960

    5,137.50

     

    Total Bonds

       

    $83,170.42

    STOCKS

    50

    shares American Telephone and Telegraph Company

     

    $8,593.63

     

    50

    shares Consolidated Edison Company of New York Common

     

    3,077.50

     

    100

    shares Electric Bond and Share Company $6.00 Preferred

     

    10,600.00

     

    50

    shares E. I. du Pont de Nemours and Company

     

    2,683.75

     

    50

    shares First National Bank of Boston

     

    1,750.00

     

    1

    share First National Bank of the City of New York

     

    $1,544.81

     

    240

    shares General Electric Company Common

     

    5,719.50

     

    50

    shares Insurance Company of North America

     

    1,963.75

     

    40

    shares Radio Corporation of America Common

     

    0.

     

    50

    shares State Street Investment Corporation

     

    4,150.00

     

    5

    shares Travelers Insurance Company

     

    2,225.00

     

    50

    shares United States Cold Storage Corporation 7% Preferred “A”

    6,750.00

     

    50

    shares United States Cold Storage Corporation Common

       

    105

    shares Wickwire Spencer Steel Company Common V. T. C.

     

    500.00

     

    Total Stocks

       

    $49,557.94

    First Mortgages on improved property in Greater Boston

     

    $7,500.00

     

    Deposit in Warren Institution for Savings

     

    3,226.33

    10,726.33

    Total Investments

       

    $143,454.69

    Composition of Funds, November 14, 1979

    Publication Fund, established in 1893 by gift of $ 100 from Quincy Adams Shaw: composed of sundry small gifts and portions of the Income which were added from year to year. Income only to be used for Publications

    $10,000.00

    General Fund, established in 1893: composed of Admission Fees and Commutations added to Principal, Gains on Sales of Securities, etc. Income only to be used for Current Expense

    24,612.93

    Benjamin Apthorp Gould Memorial Fund, established in 1897 and 1898 by subscriptions in his memory. Income only to be used

    10,000.00

    Edward Wheelwright Fund, established in 1900 under his will without restriction as to use

    20,000.00

    Robert Charles Billings Fund, established in 1903 under his will. Income only to be used for Publications

    10,000.00

    Robert Noxon Toppan Fund, established in 1904 by a gift in his memory from his widow. Income only to be used

    5,000.00

    Robert Charles Winthrop, Jr., Fund, established in 1905 under his will. Increased by $2,000 in 1924 under the will of Elizabeth Winthrop. Income only to be used

    5,000.00

    Andrew McFarland Davis Fund, established in 1908 by a gift from him to be added to the permanent publication funds. Income only to be used

    2,000.00

    William Watson Fund, established in 1916 under his will without restriction as to use

    1,000.00

    George Vasmer Leveren Fund, established in 1920 under his will. Income only to be used for Publications

    $30,000.00

    Martha Rebecca Hunt Fund, established in 1923 under the will of Henry H. Edes as the “Henry H. Edes Bequest” to accumulate until it reached the sum of $3,000 when it would become a permanent fund to be known as the Martha Rebecca Hunt Fund. Income only to be used for special purposes

    3,000.00

    Henry H. Edes Memorial rund, established by sundry subscriptions from 1923 to 1925. To accumulate until it reaches the sum of $10,000. Income only to be used for Publications

    6,565.72

    George Nixon Black Fund, established in 1929 under his will without restriction as to use

    10,000.00

    Total Funds

    $137,178.65

    Changes in Principal of Funds

    Total Funds, November 14, 1938

     

    $142,398.26

    Add—Additions to General Fund:

       

    Admission Fees

    $80.00

     

    Proceeds from partial sale of Henry H. Edes stamp collection

    146.24

     

    Profit from Sale of Securities:

       

    $5,000 American Telephone and Telegraph Company Debenture 3¼’s, 1961

    89.89

     

    5,000 Atchison, Topeka and Santa Fe Railway Company General 4’s, 1995

    519.01

     

    5,000 Commercial Credit Company Debenture

    211.72

     

    5,000 Ohio Public Service Company First 4’s, 1962

    178.27

    1,225.13

    Add—Additions to Special Funds:

       

    Henry H. Edes Memorial Fund

     

    276.72

    Deduct—Charges to General Fund:

     

    $143,900.11

    Loss on Sale of Securities:

       

    $5,000 Central New England Railway Company First 4’s, 1961

    $2,127.54

     

    5,000 Cleveland, Cincinnati, Chicago and St. Louis Railway Company Refunding and Improvement 4½’s, Series E, 1977

    891.92

     

    5,000 New York, Philadelphia and Norfolk Railroad 4% Stock Trust Certificates, 1948

    702.00

     

    Heid Alum Mortgage charged off as uncollectible as per vote of the Council

    3,000.00

    6,721.46

    Total Funds, November 14, 1939

     

    $137,178.65

    Income Cash Receipts and Disbursements

    Balance, November 14, 1938

     

    $12,034.15

    RECEIPTS:

    Interest

    $4,267.20

     

    Dividends

    2,253.50

     

    Annual Assessments

    720.00

     

    Sales of the Society’s Publications

    35.00

     

    Total Receipts of Income

     

    7,276.20

       

    $19,310.35

    DISBURSEMENTS:

    Editor’s Salary

    $1,000.00

     

    Secretarial Expense

    350.00

     

    New England Quarterly

    2,500.00

     

    New England Quarterly Index

    300.00

     

    Annual Dinner

    490.10

     

    Storage on Stock

    300.76

     

    Notices and Other Expenses of Meetings

    101.50

     

    Expense of Dr. Morison’s Farewell Message

    185.52

     

    Auditing Services

    125.00

     

    Contribution to Writings on American History

    50.00

     

    Rent of Safe Deposit Box

    22.00

     

    Postage, Office Supplies, and Miscellaneous

    33.57

     

    Accrued Interest on Securities Purchased

    93.39

     

    Interest on Henry H. Edes Memorial Fund added to Principal

    276.72

     

    Total Disbursements of Income

     

    5,828.56

    Balance of Income, November 14, 1939

     

    $13,481.79

    Principal cash receipts and disbursements:

    Loan to Principal, November 14, 1938

     

    $11,224.49

    RECEIPTS:

    $5,000 American Telephone and Telegraph Company Debenture 3¼’s, 1961

    $5,347.01

     

    5,000 Atchison, Topeka and Santa Fe Railway Company General 4’s, 1995

    5,247.02

     

    5,000 Central New England Railway Company First 4’s, 1961

    1,384.96

     

    5,000 Cleveland, Cincinnati, Chicago and St. Louis Railway Company Refunding and Improvement 4½’s, Series E, 1977

    2,834.84

     

    $5000 Commercial Credit Company Debenture 3¼’s, 1951

    $5,175.00

     

    5,000 New York, Philadelphia and Norfolk Railroad 4% Stock Trust Certificates, 1948

    4,473.00

     

    5,000 Ohio Public Service Company First 4’s, 1962

    5,409.52

     

    Admission Fees

    80.00

     

    Proceeds from partial sale of Henry H. Edes stamp collection

    146.24

     

    Transferred from Income to Principal:

       

    Henry H. Edes Memorial Fund Income

    276.72

     

    Total Receipts of Principal

     

    30,374.31

       

    $19,149.82

    DISBURSEMENTS:

    $5,000 Columbia Gas and Electric Corporation Debenture 5’s, 1952

    $4,763.28

     

    5,000 Community Public Service Company First 4’s, 1964

    5,137.50

     

    5,000 Public Service Company of New Hampshire First 3%’s, Series F, 1966

    5,148.75

     

    8,000 United States Savings Bonds, Series D, October I, 1949

    6,000.00

     

    50 shares State Street Investment Corporation

    4,150.00

     

    Total Disbursements of Principal

     

    25,199.53

    Loan to Principal, November 14, 1939

     

    $6,049.71

    James M. Hunnewell

    Treasurer

    Report of the Auditing Committee

    The undersigned, a Committee appointed to examine the accounts of the Treasurer for the year ended November 14, 1939, have attended to their duty by employing Messrs. Stewart, Watts and Bollong, Public Accountants and Auditors, who have made an audit of the accounts and examined the securities on deposit in Box 91 in the vaults of the New England Trust Company.

    We herewith submit their report which has been examined and accepted by the Committee.

    Stephen W. Phillips

    Hermann F. Clarke

    Auditing Committee

    The several reports were accepted and referred to the Committee of Publication.

    On behalf of the committee appointed to nominate officers for the ensuing year the following list was presented; and a ballot having been taken, these gentlemen were unanimously elected:

    • President Kenneth Ballard Murdock
    • Vice-Presidents Hon. Fred Tarbell Field
      • Matt Bushnell Jones
    • Recording Secretary Augustus Peabody Loring, Jr.
    • Corresponding Secretary Dr. James Lincoln Huntington
    • Treasurer James Melville Hunnewell
    • Registrar Robert Dickson Weston
    • Member of the Council for Three Years Dr. Harold Bowditch

    After the meeting was dissolved, dinner was served. The guests of the Society were Mr. William R. Carlton, Mr. Robert Frost, Mr. Kenneth H. Jackson, Mr. John Lydenberg, Mr. Charles Miller, Mr. Peter Oliver, Mr. Waldo E. Palmer, Professor George Sherburn, Mr. Fred Sallish, Professor Theodore Spencer, and Mr. Harry A. Wright.

    After the dinner Mr. Frost read several of his poems, and Professor282 Sherburn addressed the Society and its guests.