Annual Meeting

    November, 1940

    THE Annual Meeting of the Society was held at the Algonquin Club, No. 217 Commonwealth Avenue, Boston, on Thursday, November 21, 1940, 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 of Robert Grant, a Resident Member, on May 19, 1940; that of Matt Bushnell Jones, a Resident Member and a Vice-President of the Society, on July 1, 1940; that of Albert Harrison Hall, a Corresponding Member, on August 12, 1940; and that of Howard Millar Chapin, a Corresponding Member, on September 18, 1940.

    The Corresponding Secretary reported the receipt of letters from Mr. Frederick Scouller Allis, Jr., Mr. Edmund Sears Morgan, Mr. Peter Oliver, and Mr. Walter Muir Whitehill, accepting Resident Membership in the Society; and from the Reverend Charles Leslie Glenn and Mr. John Lydenberg, accepting Associate Membership.

    Mr. William Roberts Carlton of Springfield, Mr. Stephen Phillips of Salem, and Mr. Harry Andrew Wright of Springfield were elected to Resident Membership in the Society.

    The following amendment to the By-laws was submitted by the Council and unanimously adopted by the Society:

    Chapter II, Art. 1, insert a new paragraph after the second paragraph as follows:

    The provisions of this Article limiting the number of Corresponding Members to fifty shall not apply when the Council in accordance with the By-laws transfers a Resident Member to Corresponding Membership upon his residence or place of business having ceased in Massachusetts, and thereafter the number of Corresponding Members may exceed the limit of fifty members; but no Corresponding Member shall thereafter be elected to the Society until the number of Corresponding Members shall be less than fifty.

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

    Report of the Council

    IN the year past the Society has held, as usual, three stated meetings: on December 19, 1940, at the house of Mr. Augustus P. Loring, Jr.; on February 27, 1941, at the invitation of Mr. Stephen W. Phillips, at the Club of Odd Volumes; and on April 24, 1941, at the house of Mr. Richard M. Gummere in Cambridge. The attendance has been about the same as during the past years.

    The following members have been elected to the Society:

    Resident:

    • Frederick Scouller Allis, Jr.
    • Edmund Sears Morgan
    • Peter Oliver
    • Walter Muir Whitehill

    Corresponding:

    • Theodore Hornberger

    Associate:

    • Rev. Charles Leslie Glenn
    • John Lydenberg

    During the past year we have lost five members by death:

    John Woodbury, Resident, 1910, died January 4, 1940. A graduate of Harvard and the Harvard Law School, he was ever a student of colonial history. He collected rare books and loved them. Always one of the most faithful attendants at the meetings of this Society, his presence will be greatly missed.

    Robert Grant, Resident, 1912, died May 19, 1940. He was a distinguished judge, a well-known author, writing both prose and verse, a keen, vivid Bostonian up to the very last.

    Matt Bushnell Jones, Resident, 1930, Vice-President of the Society from December, 1937, until his death on July 1, 1940. A lawyer, then President of the New England Telephone and Telegraph Company, he was deeply interested in the history of New England, particularly that of his native state. His volume, Vermont in the Making, will remain an enduring monument to his great historical ability.

    Albert Harrison Hall, a Resident Member, 1934–1937, a Corresponding Member from the latter date until his death on August 12, 1940. Active in Cambridge politics, he was also a successful merchant of books. He was a member of the Massachusetts General Court for five years, and in 1929 was appointed Archivist of the State of Massachusetts, a position he filled with distinction until his retirement in 1937.

    Howard Millar Chapin, Corresponding, 1933, died September 18, 1940. Keenly interested in colonial history, particularly that pertaining to Rhode Island, he became Librarian and Editor of the Rhode Island Historical Society in 1912. He wrote extensively on historical subjects, especially in regard to colonial military flags, ships, and privateering.

    During the past year the Society has published and distributed Volume XXXIII of its Publications, containing Charles Morton’s Compendium Physicae, edited by our fellow member, Theodore Hornberger, with a biographical sketch of Morton by Samuel E. Morison.

    The Society has continued its generous support of the New England Quarterly.

    The Treasurer submitted 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, 1940.

    Statements of Assets and Funds, November 14, 1940

    ASSETS

    Cash:

       

    Income

    $12,624.33

     

    Loan to Principal

    10,358.16

    $2,266.17

    Investments at Book Value:

       

    Bonds (Market Value $93,398.75)

    $88,132.36

     

    Stocks (Market Value $52,066.25)

    52,807.94

     

    Mortgages

    3,500.00

     

    Savings Bank Deposit

    3,291.18

    147,731.48

    Total Assets

     

    $149,997.65

    FUNDS

    Funds

    $137,002.14

    Unexpended Income

    12,995.51

    Total Funds

    $149,997.65

    Investments as of November 14, 1940

    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

    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

    Continental Gas and Electric Corporation Debenture 5’s, Series A, 1958

    4,663.28

     

    5,000

    Iowa Southern Utilities Company General Mortgage 4½’s, 1950

    5,050.00

     

    5,000

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

    250.00

     

    5,000

    Montana Power Company First and Refunding 3¾’s, 1966

    5,125.87

     

    5,000

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

    4,795.78

     

    5,000

    Northwestern Public Service Company First 4’s, 1970

    5,168.75

     

    5,000

    Public Service Company of Indiana First 4’s, Series A, 1969

    5,325.00

     

    5,000

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

    5,148.75

     

    5,000

    Remington-Rand, Inc., w. w., Debenture 4¼’s, 1956

    5,013.28

     

    5,000

    Scranton Gas and Water Company First 4½’s, 1958

    5,068.75

     

    5,000

    Texas Electric Service Company First 5’s, 1960

    4,437.50

     

    8,000

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

    6,080.00

     

    2,000

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

    1,500.00

     

    5,000

    United States Savings Bonds, Series D, January 1, 1950

    3,750.00

     

    5,000

    United States Savings Bonds, Series D, March 1, 1950

    3,750.00

     

    Total Bonds

    $88,132.36

    STOCKS

     

    Book Value

     

    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 shares

    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.

     

    100 shares

    State Street Investment Corporation

    7,900.00

     

    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

    Total Stocks

     

    $52,807.94

    First Mortgages on improved property in Greater Boston

    $3,500.00

     

    Deposit in Warren Institution for Savings

    3,291.18

    6,791.18

    Total Investments

     

    $147,731.48

    Composition of Funds, November 14, 1940

    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

    $10000.00

    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

    24,137.68

    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 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

    6,864.46

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

    10,000.00

    Total Funds

    $137,002.14

    Changes in Principal of Funds

    Total Funds, November 14, 1939

    $137,178.65

    Add—Additions to Special Funds:

     

    Henry H. Edes Memorial Fund

    298.74

    Add—Additions to General Fund:

     

    Admission Fees

    $70.00

     

    Profit from Sale of Securities:

     

    $ 5,000

    Chester Water Service Company First 4½’s, 1958

    1,725.00

     

    5,000

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

    1,237.50

     

    5,000

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

    227.39

     

    5,000

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

    366.75

     

    2,500

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

    75.00

     

    4,000

    United States Cold Storage Corporation First 6’s, 1945

    40.00

     

    105 shares

    Wickwire Spencer Steel Company Common

    $118.84

     

    Received from the assignment of Heid Alum mortgage charged off as uncollectible in 1939

    50.00

    $3,910.48

         

    $141,387.87

    Deduct—Charges to General Fund:

     

    Loss from Sale of Securities:

     

    $5,000

    Southern California Water Company First 4½’s, 1960

    $50.00

     

    5,000

    United States Steel Corporation Debenture 3¼’s, 1948

    82.12

     

    5,000

    Western Union Telegraph Company 5’s, 1960

    1,690.26

     

    Balance of Max Brown mortgage charged off as uncollectible as per vote of the Council

    2,563.35

    4,385.73

    Total Funds, November 14, 1940

     

    $137,002.14

    Income Cash Receipts and Disbursements

    Balance, November 14, 1939

    $13,481.79

    RECEIPTS:

    Interest

    $3,916.93

     

    Dividends

    2,733.50

     

    Annual Assessments

    790.00

     

    Sales of the Society’s Publications

    199.00

    7,639.43

    Total Receipts of Income

     

    $21,121.22

    DISBURSEMENTS:

    New England Quarterly

    $2,000.00

     

    Publications, Volume 33

    2,977.70

     

    Editor’s Salary

    1,000.00

     

    Annual Dinner

    516.90

     

    Preliminary Check List of Cambridge Imprints

    420.25440

     

    Storage on Stock

    300.76

     

    Secretarial Expense

    350.00

     

    Auditing Services

    125.00

     

    Notices and Expenses of Meetings

    112.00

     

    Contribution to Writings on American History

    50.00

     

    Postage, Office Supplies, and Miscellaneous

    68.05

     

    Rent of Safe Deposit Box

    22.00

     

    Accrued Interest on Securities Purchased

    255.49

     

    Interest on Henry H. Edes Memorial Fund added to Principal

    $298.74

     

    Total Disbursements of Income

     

    $8,496.89

    Balance of Income, November 14, 1940

     

    $12,624.33

    Principal Cash Receipts and Disbursements

    Loan to Principal, November 14, 1940

    $6,049.71

    RECEIPTS:

    $ 5,000

    Chester Water Service Company First 4½’s, Series A, 1958

    $5,100.00

     

    5,000

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

    5,000.00

     

    5,000

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

    5,609.51

     

    2,500

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

    2,575.00

     

    4,000

    United States Cold Storage Corporation First 6’s, 1945

    4,040.00

     

    5,000

    United States Steel Corporation Debenture 3¼’s, 1948

    5,150.00

     

    5,000

    Western Union Telegraph Company 5’s, 1960

    3,447.24

     

    5,000

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

    5,441.75

     

    5,000

    Southern California Water Company First 4½’s, 1960

    5,200.00

     

    105 shares

    Wickwire Spencer Steel Company Common

    618.84

     

    Admission Fees

    70.00

     

    Max Brown Mortgage Note, on account

    1,436.65

     

    Proceeds from the Assignment of Heid Alum mortgage charged off as uncollectible in 1939

    50.00

     

    Estate of Horace E. Ware, legacy

    51.79

     

    Transferred from Income to Principal:

       

    Henry H. Edes Memorial Fund Income

    298.74

     

    Total Receipts of Principal

     

    44,089.52

       

    $38,039.81

    DISBURSEMENTS:

    $5,000

    Continental Gas and Electric Corporation Debenture 5’s, Series A, 1958

    $4,663.28

     

    5,000

    Iowa Southern Utilities Company General Mortgage 4½’s, 1950

    5,050.00

     

    $5,000

    Montana Power Company First and Refunding 3¾’s, 1966

    $5,125.87

     

    5,000

    Northwestern Public Service Company First 4’s, 1970

    5,168.75

     

    5,000

    Public Service Company of Indiana First 4’s, Series A, 1969

    5,325.00

     

    5,000

    Remington-Rand, Inc., w. w., Debenture 4¼’s, 1956

    5,013.28

     

    5,000

    Southern California Water Company First 4½’s, 1960

    5,250.00

     

    2,000

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

    1,500.00

     

    5,000

    United States Savings Bonds, Series D, January 1, 1950

    3,750.00

     

    5,000

    United States Savings Bonds, Series D, March 1, 1950

    3,750.00

     

    50 shares

    State Street Investment Corporation

    3,750.00

     

    First Church in Boston—legacy received from the Estate of Horace E. Ware

    51.79

     

    Total Disbursements of Principal

     

    $48,397.97

    Loan to Principal, November 14, 1940

     

    $10,358.16

    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, 1940, 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 hereby 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
      • Hon. Robert Walcott
    • 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 Tears Zechariah Chafee, Jr.

    After the meeting was dissolved, dinner was served. The guests of the Society were Mr. Ellis W. Brewster, Mr. Bernard deVoto, the Reverend Oliver J. Hart, Señor Pedro Henriquez-Ureña, Mr. Harold Larrabee, Mr. David McCord, and Mr. Benjamin F. Wright, Jr.

    After the dinner Mr. McCord read some of his verses, and Mr. deVoto addressed the Society and its guests.