Annual Meeting

    November, 1938

    THE Annual Meeting of the Society was held at the Algonquin Club, No. 217 Commonwealth Avenue, Boston, on Monday, November 21, 1938, at a quarter after seven o’clock in the evening, the President, Samuel Eliot Morison, 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 June 12, 1938, of Arthur Prentice Rugg, a Resident Member; that on June 27, 1938, of George Lincoln Burr, a Corresponding Member; that on July 2, 1938, of Edgar Huidekoper Wells, a Corresponding Member; that on July 3, 1938, of Homer Gage, a Resident Member; and that on July 13, 1938, of Nathaniel Thayer Kidder, a Resident Member.

    The Corresponding Secretary reported the receipt of a letter from Mr. Charles Henry Taylor accepting his election to Resident Membership in the Society.

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

    Report of the Council.

    DURING the year 1937–1938 the Society held three stated meetings: on December 16, 1937, at the house of Mr. Augustus P. Loring, Jr.; on February 24, 1938, at the invitation of Mr. Hermann F. Clarke, at the Club of Odd Volumes; on April 21, 1938, at the invitation of the Hon. Robert Walcott, at the Signet Club in Cambridge.

    Only one election to membership has occurred since the last Annual Meeting: that of Charles Henry Taylor to Resident Membership.

    During the past year the Society has lost by death eight members:

    Wilberforce Eames, died December 6, 1937, senior Corresponding Member, elected May 14, 1898. He was the greatest figure in the field of bibliography America has produced. His faithful, painstaking labors have eased the path of every student of American history.

    Francis Russell Hart, Resident, 1915, died January 18, 1938. This great financier and executive head of a mammoth corporation was a diligent and vivid historian of the Caribbean Sea and Central America and a zealous collector of the literature pertaining to his subject. He was an active, interested, and generous member of this Society.

    Chester Noyes Greenough, Resident, 1912, died February 27, 1938, Vice-President of this Society, 1934–1937. Professor of English, former Dean of his Alma Mater and Master of Dunster House, he entered actively into the life of this Society and was a frequent contributor to its Transactions.

    Arthur Prentice Rugg, Resident, 1910, died June 12, 1938, Vice-President of the Society from 1918 until his death. This quiet, modest New England gentleman by his outstanding ability became the foremost jurist of Massachusetts. He was a faithful and interested member of this Society.

    George Lincoln Burr, Corresponding, 1927, died June 27, 1938. A versatile writer on the history of superstition and persecution, his hobby was witchcraft, and his published works on this subject show his real genius.

    Edgar Huidekoper Wells, Corresponding, 1913, died July 2, 1938. He was a collector of rare books. Perhaps his most brilliant work was done as General Secretary of the Harvard Alumni Association from 1907 to 1913. He was also Editor of the Harvard Alumni Bulletin. His great love of books is to be immortalized at the Harvard College Library by the Edgar Huidekoper Wells Memorial.

    Homer Gage, Resident, 1922, died July 3, 1938. Long rightly considered one of the outstanding surgeons of America, he was devoted to his patients and unsparing of his time and strength. Retiring in 1923 from active surgical practice because of the recognized age limit of sixty-one years, he devoted himself to finance and industry with remarkable success. The death of his only child, a son who had served in France during the World War, turned his passionate devotion to that republic. The University of Paris became his foster child, and he gave freely to its upbuilding. A grateful nation made him Commander of the Legion of Honor and eloquently mourned his death.

    Nathaniel Thayer Kidder, Resident, 1916, died July 13, 1938. From 1884 to 1895 he taught botany at the Bussey Institute. His love for trees and flowers remained with him throughout his long life. He was a patron of the Massachusetts Horticultural Society and Park Commissioner of the town of his adoption, Milton. His philanthropic activities were wide. He long and faithfully served the Massachusetts General Hospital, the Massachusetts Society for the Prevention of Cruelty to Children, and the Massachusetts Society for the Prevention of Cruelty to Animals.

    Since the last Annual Meeting there has been issued Volume XXXII of the Society’s publications containing the transactions from May 7, 1933, to April 22, 1937.

    The Society is coöperating with certain other organizations, such as the Massachusetts Historical Society, the American Antiquarian Society, the Harvard College Library, and the John Carter Brown Library, in preparing a formal bibliography of the Cambridge press in the seventeenth century by way of marking the three hundredth anniversary of that press, thus supplying a much needed tool to bibliographers. As this is being chiefly undertaken by members of this Society, it is proposed that the bibliography, when completed, constitute a volume of Collections in the Society’s series of publications.

    As in years past, the Society continues to be the chief supporter of the New England Quarterly.

    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, 1938.

    Statement of Assets and Funds Novemer 14, 1638

    ASSETS

    Cash:

       

    Income

    $12,034.15

     

    Loan to Principal

    11,224.49

    $809.66

    Investments at Book Value:

       

    Bonds (Market Value $98,053.75)

    $94,714.81

     

    Stocks (Market Value $48,216.88)

    45,407.94

     

    Mortgages

    10,500.00

     

    Savings Bank Deposit

    3,162.76

    153,785.51

    Total Assets

     

    $154,595.17

    FUNDS

    Funds:

     

    $142,398.26

    Income:

       

    General Income

    $12,034.15

     

    Martha Rebecca Hunt Fund Income

    162.76

    12,196.91

    Total Funds

     

    $154,595.17

    Investments as of November 14, 1938

    BONDS   Book Value  

    $5,000

    American Telephone and Telegraph Company Debenture 3¼’s, 1961

    $5,257.12

     

    5,000

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

    4,728.01

     

    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

    Central New England Railway Company First 4’s, 1961

    3,512.50

     

    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

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

    3,726.76

     

    5,000

    Commercial Credit Company Debenture 3½’s, 1951

    4,963.28

     

    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, Philadelphia and Norfolk Railroad 4% Stock Trust Certificates, 1948

    5,175.00

     

    5,000

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

    4,795.78

     

    5,000

    Ohio Public Service Company First 4’s, 1962

    5,231.25

     

    5,000

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

    5,382.12

     

    5,000

    Scranton Gas and Water Company First 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

     

    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

       

    $94,714.81

    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.

     

    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

    $45,407.94

    First Mortgages on improved property in Greater Boston

    $10,500.00

     

    Deposit in Warren Institution for Savings

    3,162.76

    13,662.76

    Total Investments

     

    $153,785.51

    Composition of Funds, November 14, 1938

    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

    30,109.26

    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

    5000.00

    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

    5000.00

    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 Leverett 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 Fund, 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

    6,289.00

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

    10,000.00

    Total Funds

    $142,398.26

    Changes in Principal of Funds

    Total Funds, November 13, 1937

       

    $144,189.48

    Add—Additions to General Fund:

         

    Admission Fee

     

    $10.00

     

    Commutation

     

    100.00

     

    Proceeds from partial sale of Henry H. Edes stamp collection

     

    85.76

     

    Profit from Sale of Securities:

         

    $5,000 Chicago and Western Indiana Railway Company Consolidated 4’s, 1952

    $844.62

       

    $5,000 Indianapolis Power and Light Company First 5’s, Series A,1957

    $606.25

       

    5,000 Oregon-Washington Railroad and Navigation Company First and Refunding 4’s, Series A, 1961

    1,004.51

       

    2,000 Tide Water Associated Oil Company Debenture S. F. 3½’s 1952

    75.63

       

    5,000 Toledo Edison Company First 5’s, 1962

    368.75

    $2,899.76

    $3,095.52

    Add—Additions to Special Funds:

         

    Henry H. Edes Memorial Fund

       

    269.09

         

    $147,554.09

    Deduct—Charges to General Fund:

         

    Loss on Sale of Securities:

         

    $5,000 Central Pacific Railway Company First and Refunding 4’s, 1949

     

    $127.77

     

    5,000 Grand Trunk Western Railway Company First 4’s, 1950

     

    275.07

     

    5,000 Virginian Railway Company First and Refunding 3¾’s, 1966

     

    2.99

     

    Reduction in book value of $ 5,000 Minneapolis, St. Paul and Sault Ste. Marie Railway First Refunding 6’s, Series A, 1946, to present estimated value of $50 per bond

     

    4,750.00

    5,155.83

    Total Funds, November 14, 1938

       

    $142,398.26

    Income Cash Receipts and Disbursements

    Balance, November 13, 1937

       

    $12,524.69

    RECEIPTS:

    Interest

     

    $4,794.08

     

    Dividends

     

    2,158.50

     

    Annual Assessments

     

    810.00

     

    Sales of the Society’s Publications

     

    263.00

     

    Total Receipts of Income

       

    8,025.58

         

    $20,550.27

    DISBURSEMENTS:

    Editor’s Salary

     

    $1,000.00

     

    Services to Editor

     

    250.00

     

    Secretarial Expense

     

    $100.00

     

    Clerical Expense

     

    100.00

     

    For Publications:

         

    Volume 32

    $2,253.34

       

    “ 34

    39.50

    2,292.84

     

    New England Quarterly

     

    2,500.00

     

    New England Quarterly Index

     

    450.00

     

    Annual Dinner

     

    404.03

     

    Notices and Other Expenses of Meeting

     

    84.00

     

    Accounting Services

     

    125.00

     

    Storage on Stock

     

    300.76

     

    Accrued Interest on Securities Purchased

     

    293.54

     

    Fire and Sprinkler Insurance

     

    122.10

     

    Rent of Safe Deposit Box

     

    22.00

     

    Contribution to Writings on American History

     

    50.00

     

    Postage and Mailing

     

    117.16

     

    Dies for Bindings

     

    35.00

     

    Collection Charges

     

    .60

     

    Interest on Henry H. Edes Memorial Fund added to Principal

     

    269.09

     

    Total Disbursements of Income

       

    $8,516.12

    Balance of Income Cash, November 14,1938

       

    $12,034.15

    Principal Cash Receipts and Disbursements

    Loan to Principal, November 13, 1937

       

    $10,864.05

    RECEIPTS:

    $5,000

    Central Pacific Railway Company First and Refunding 4’s, 1949

    $3,634.73

       

    5,000

    Chicago and Western Indiana Railway Company Consolidated 4’s, 1952

    4,484.62

       

    5,000

    Grand Trunk Western Railway Company First 4’s, 1950

    4.331.96

       

    5,000

    Indianapolis Power & Light Company First 5’s, Series A, 1957

    5,200.00

       

    5,000

    Oregon-Washington Railroad and Navigation Company First and Refunding 4’s, Series A, 1961

    5,109.51

       

    $2,000

    Tide Water Associated Oil Company Debenture S. F. 3½’s, 1952

    $2,091.14

       

    5,000

    Toledo Edison Company First 5’s, 1962

    5,250.00

       

    5,000

    Virginian Railway Company First and Refunding 3¾’s, 1966

    5,209.15

    $35,311.47

     

    Admission Fee

     

    10.00

     

    Commutation

     

    100.00

     

    Proceeds from partial sale of Henry H. Edes stamp collection

     

    85.76

     

    Transferred from Income to Principal

         

    Henry H. Edes Memorial Fund Income

     

    269.09

    $35,776.32

    Total Receipts of Principal

       

    $24,912.27

    DISBURSEMENTS:

    $5,000

    American Telephone and Telegraph company Debenture 3¾’s, 1961

    $5,257.12

     

    5,000

    Consolidated Oil Company Debenture 3½’s, 1951

    5,169.62

     

    5,000

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

    4,795.78

     

    5,000

    Ohio Public Service Company First 4’s, 1962

    5,231.25

     

    5,000

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

    5,382.12

     

    5,000

    Scranton Gas and Water Company first 4½’s, 1958

    5,068.75

     

    5,000

    United States Steel Corporation Debenture 3¼’s, 1948

    5,232.12

     

    Total Disbursements of Principal

    $36,136.76

    Loan to Principal, November 14, 1938

    $11,224.49

    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, 1938, 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 1052–E in the Union Safe Deposit Vaults.

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

    Henry L. Shattuck

    George G. Wolklins

    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 Robert Ephraim Peabody

    The following minute on the retirement of Samuel Eliot Morison from the presidency of the Society was read by the Corresponding Secretary and was unanimously adopted:

    The Colonial Society of Massachusetts at its Annual Meeting on November 21, 1938, would record its grateful appreciation of the leadership it has enjoyed through thirteen years under the presidency now brought to a close by the retirement of Samuel Eliot Morison. No other president has held the office for so long a term. The previous place of the Society in the immediate and larger community to which it is related has been fortified and extended by his powers of direction. To his initiative the Society is indebted for the fruitful addition of Associate Members to its rolls. Its meetings have been enriched by many contributions of scholarship from his pen. Its annual dinners have been enlivened by the blending of his wit with his wisdom. So it is (if words used by him in this place may be paraphrased without irreverence) that the Society he has blessed now blesses him.

    After the meeting was dissolved, dinner was served. The guests of the Society were Mr. Frederick S. Allis, Jr., Professor Paul H. Buck, Mr. Arthur H. Cole, Professor S. Foster Damon, Mr. William A. Jackson, Mr. Ralph Ladd, Mr. Edmund S. Morgan, the Hon. Marcus Morton, Mr. George C. Northrop, and Mr. William G. Roelker.

    After the dinner Professor Paul H. Buck addressed the Society and its guests.