Annual Meeting

    November, 1946

    THE Annual Meeting of the Society was held at the Algonquin Club, No. 217 Commonwealth Avenue, Boston, on Thursday, November 21, 1946, at a quarter after seven o’clock in the evening, the President, Charles Eliot Goodspeed, 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 16, 1946, of Henry Lefavour, a Resident Member, and that on October 6, 1946, of Allen French, a Resident Member.

    Mr. George Talbot Goodspeed, of Concord, and Mr. James Gore King, of Cambridge, were elected to Resident Membership in the Society.

    Mr. Zechariah Chafee, Jr., read the Annual Report of the Council.

    Report of the Council

    SINCE the last Annual Meeting the Society has had, as usual, three Stated Meetings: in December and February, at the Club of Odd Volumes; and in April, at the house of Mr. Augustus P. Loring, Jr. Papers were read by Messrs. Charles E. Mason, Jr., Richard Walden Hale, Jr., and William A. Jackson.

    The Society has elected the following members:

    Resident:

    • Ernest Stanley Dodge
    • Ellis Wethrell Brewster
    • Richard Walden Hale, Jr.
    • Russell Leigh Jackson

    Corresponding:

    • Herbert Ross Brown

    Associate:

    • Oscar Handlin

    With great regret, I announce the deaths during the past year of three of our members:

    Allen French, Resident, 1926, died October 6, 1946, in the seventy-sixth year of his age. Author of twenty-six books, many of them a scholar’s careful studies of the American Revolution and others transmuting laborious hours of research into stories about the Vikings and our colonial ancestors which inspired boys to share his love of the past. As footnotes in the papers of other members bear witness, his learning was gladly placed at the disposal of his friends.

    Henry Lefavour, Resident, 1906, died June 16, 1946, when nearly eighty-four. Trained in physics, he discovered in middle life his true career as president of institutions of learning. President of Simmons College for thirty-one years, President of this Society (almost as soon as he had joined it) from 1907 to 1914, and eventually retiring to become President of the Massachusetts Historical Society from 1938 until 1942. When he ceased his task of guiding our deliberations with “his uniform courtesy and urbanity,” George Lyman Kittredge declared:

    “We are thankful to our President for what he has done—still more thankful for what he has been. Under his leadership we have been happy and prosperous, and our confidence in the future is the measure of our debt.”

    As we meet tonight in one of the most troublous years which our nation has ever faced, except when it was threatened by armed enemies, we shall do well to remember these heartening sentences in his inaugural address nearly forty years ago:

    “It was [the men of Plymouth and Massachusetts Bay] who, unfettered by the traditions and restrictive influences of the autocratic and monarchical governments of Europe, found the chance here to study the real problems of society, to search for the laws and rules of human justice, and to elaborate those forms of political organization which should contribute most largely to human happiness. Their results—mistaken perhaps, in part, but largely wise—have been the foundations of our public policy, and we may well propose to ourselves the worthy task of making such studies and investigations as shall enable us to appreciate more justly the characters and motives of those men, to clarify the obscurity and confusion which surround many of the controversial points, and to secure a better foundation for future historical research.

    “We are all proud that our ancestors were of and among these men; but it is not a selfish pride, rather, it is a filial devotion, which leads us to strive, as best we may, to make their lives more effective and to perpetuate the influences of which they were the source.”

    Albert Matthews, Resident, 1896, a member for fifty years, whose work was by a lamentable accident on April 13, 1946, cut short at the age of eighty-five. The published volumes of our Society contain from his pen one hundred and forty-one contributions, which throw light on the most difficult problems in colonial history, literature, and philology. And through nineteen volumes of our Publications, the pages unsigned by him are yet in large measure his for he was our first professional Editor, for twenty years from 1904 to 1924. Seven years later he retired from giving us twenty-nine years of his character and judgment on the Council, the longest service of anyone except Edes and Cunningham. His influence kept the Society true to her best interests, yet alert for new opportunities of usefulness.

    Of Albert Matthews, too, I shall let Kittredge express what we all feel:

    “The Society . . . has received many gifts from its members, but no gift that equals in value the prodigal expenditure of time, of learning, and of exact scholarship that the Editor has bestowed upon our publications. His wonderfully extensive knowledge of English and American history and literature, his accuracy, his independence in judgment, his sureness of touch, his good taste and sense of style, and his almost miraculous keenness on the trail of truant details and elusive evidence are equalled only by the modesty and tact which he has always shown, though with no lack of firmness, in dealing with the contributions that have passed under his editorial eye and through his editorial hands. ‘Here was a Caesar. When comes such another?’”

    To turn to pleasanter news. I am glad to speak of our oldest member, Charles F. Mason, who joined this Society with Mr. Matthews in 1896, a half century ago. The Council at its last meeting voted to extend to him the congratulations of the Society. Mr. Mason’s reply alludes to his prudence in choosing life membership and to his classmate and one of our three Honorary Members, Samuel Williston. He writes in part:

    “I have always had an antiquarian interest: ‘Up from the meadows rich with corn’ in High School days. Life member New England Historical Genealogical Society, etc., etc., and it involved no change of taste to accept the compliments of Colonial Society’s membership! Prosperity isn’t endless! Regards to Sam Williston, dear fellow!”

    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, 1946.

    Statement of Assets and Funds, November 14, 1946

    ASSETS

    Cash:

       

    Income

    $12,375.78

     

    Loan to Principal

    7,493.66

    $4,882.12

    Investments at Book Value:

       

    Bonds (Market Value $134,471.39)

    $132,950.28

     

    Stocks (Market Value $112,657.50)

    85,447.62

     

    Savings Bank Deposit

    3,180.78

    221,578.68

    Total Assets

     

    $226,460.80

    FUNDS

    Funds

     

    $210,128.24

    Unexpended Income

     

    16,332.56

    Total Funds

     

    $226,460.80

    Investments as of November 14, 1946

    BONDS Book Value  

    $5,000 Abitibi Power and Paper Company, Limited, First 5’s, 1965

    $5,000.98

     

    5,000 American Machine and Metals, Inc., Debenture 4½’s, 1959

    5,062.50

     

    5,000 American Tobacco Company Debenture 3’s, 1962

    5,101.10

     

    5,000 Celotex Corporation Debenture 3¼’s, 1960

    5,125.00

     

    1,294.07 Conveyancers Realty Company Debenture 4%—2% Fixed, 2% if Earned, 1957

    284.70

     

    5,000 Eastern Gas and Fuel Associates First and Collateral 3½’s, 1965

    5,108.50

     

    2,000 Florida Power and Light Company First 3½’s, 1974

    2,175.00

     

    5,000 Illinois Terminal Railroad Company First 4’s, Series A, 1970

    5,050.00

     

    5,000 New York Water Service Corporation First 5’s, 1951

    5,038.60

     

    3,000 Philadelphia, Baltimore and Washington Railroad Company General 5’s, 1974

    3,945.00

     

    5,000 Public Service Company of New Hampshire First 3¼’s, Series A, 1973

    5,400.00

     

    5,000 Scranton-Spring Brook Water Service Company First 2⅞’s, 1976

    5,125.00

     

    5,000 Selected Industries Incorporated Debenture 2⅞’s, 1961

    5,101.10

     

    5,000 Tennessee Gas and Transmission Company First 2¾’s, 1966

    5,201.10

     

    8,000 United States of America Savings Bonds, Series D, October 1, 1949

    7,040.00

     

    2,000 United States of America Savings Bonds, Series D, November 1, 1949

    1,760.00

     

    5,000 United States of America Savings Bonds, Series D, January 1, 1950

    4,350.00

     

    5,000 United States of America Savings Bonds, Series D, March 1, 1950

    4,350.00

     

    10,000 United States of America Defense Savings Bonds, Series F, July 1, 1953

    7,970.00

     

    8,000 United States of America Defense Savings Bonds, Series F, September 1, 1953

    6,376.00

     

    5,000 United States of America War Savings Bonds, Series F, May 1, 1954

    3,930.00

     

    10,000 United States of America War Savings Bonds, Series F, June 1, 1957

    7,420.00

     

    8,000 United States of America Treasury Bonds 2’s, 1951/1953

    8,000.00

     

    5,000 United States of America Treasury Bonds 2’s, 1952/1954

    5,000.00

     

    10,000 United States of America Treasury Bonds 2¼’s, 1959/1962

    10,000.00

     

    4,000 Wilson and Company, Inc., First 3’s, 1958

    4,035.70

     

    Total Bonds

     

    $132,950.28

    STOCKS Book Value  

    75 shares American Telephone and Telegraph Company

    $12,599.76

     

    3 shares Christiana Securities Company

    8,295.00

     

    25/10 shares Conveyancers Realty Company V.T.C., Class A, Common

    3.13

     

    100 shares First National Bank of Boston

    4,595.27

     

    200 shares General Electric Company

    4,766.26

     

    15 shares Guaranty Trust Company of New York

    5,232.77

     

    125 shares Insurance Company of North America

    7,610.27

     

    500 shares Lehman Corporation

    16,100.03

     

    400 shares State Street Investment Corporation

    10,239.00

     

    150 shares United Fruit Company

    4,388.53

     

    100 shares United States Cold Storage Corporation Prior Preference Participating

     

    100 shares United States Cold Storage Corporation Common

    200 shares Westinghouse Electric Corporation

    5,617.60

     

    Total Stocks

     

    85,447.62

    Deposit in Warren Institution for Savings

     

    3,180.78

    Total Investments

     

    $221,578.68

    Composition of Funds, November 14, 1946

    Sarah Louisa Edes Fund, established under the will of Henry H. Edes. One half of the gross income to be added semi-annually to the principal of the fund; the remaining half of the income of the fund shall be used towards defraying the cost of the Society’s Publications other than the Transactions with certain qualifications as to the methods of publication

    $62,637.57

    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 added to Principal, Gains on Sales of Securities, etc. Income only to be used for Current Expense

    19,108.57

    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 in 1924 by $2,000 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 Mr. Henry H. Edes as the “Henry H. Edes Bequest” to accumulate until it reached the maximum 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

    8,482.10

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

    10,000.00

    Commutation Fund, established by crediting all commutations received from 1893 to date. Income to be used for Current Expense

    8,900.00

    Samuel Henshaw Fund, established in 1942 under his will without restriction as to use

    5,000.00

    Total Funds

    $210,128.24

    Changes in Principal of Funds

    Total Funds, November 14, 1945

       

    $207,717.70

    Add—Additions to Special Funds:

         

    Sarah Louisa Edes Fund Income

    $754.60

       

    Henry H. Edes Fund Income

    183.32

       

    Commutation Fund

    400.00

    $1,337.92

     

    Add—Additions to General Fund:

         

    Admission Fees

     

    50.00

     

    Profit from Sale of Securities:

         

    $5,000 Gatineau Power Company First 3¾’s, 1969

    $23.90

       

    4,000 Iowa Southern Utilities Company S. F. Debenture 4½’s, 1966

    160.00

       

    5,000 Northwestern Public Service Company First 4’s, 1970

    93.75

       

    5,000 Tennessee Gas and Transmission Company First 3’s, 1965

    98.90

       

    40 shares Radio Corporation of America Common

    664.82

    1,041.37

    2,429.29

         

    $210,146.99

    Deduct—Charges to General Fund:

         

    Loss from Sale of Securities:

         

    $5,000 Scranton Gas and Water Company First 4½’s, 1958

       

    18.75

    Total Funds, November 14, 1946

       

    $210,128.24

    Income Cash Receipts and Disbursements

    Balance, November 14, 1945

       

    $13,223.97

    RECEIPTS:

    Interest

     

    $2,754.33

     

    Dividends

     

    4,101.65

     

    Annual Assessments

     

    770.00

     

    Sales of Publications

     

    226.00

    7,851.98

    Total Receipts of Income

       

    $21,075.95

    DISBURSEMENTS:

    New England Quarterly

     

    $2,600.00

     

    Editor’s Salary

     

    1,000.00

     

    Secretarial Expense

     

    650.00

     

    Annual Dinner

     

    464.69

     

    Storage

     

    300.76

     

    Notices and Expenses of Meetings

     

    137.00

     

    Postage, Office Supplies and Miscellaneous

     

    118.98

     

    Auditing Services

     

    125.00

     

    Publications

     

    236.82

     

    Safe Deposit Box

     

    24.00

     

    Transferred to Principal Funds:

         

    Capital Gain Dividends Received Year Ended November 14, 1945:

         

    500 shares Lehman Corporation

    $1,205.00

       

    400 shares State Street Investment Corporation

    900.00

       

    Income from Funds:

         

    Henry H. Edes Memorial Fund

    183.32

       

    Sarah Louisa Edes Fund

    754.60

    3,042.92

     

    Total Disbursements

       

    8,700.17

    Balance of Income, November 14, 1946

       

    $12,375.78

    Principal Cash Receipts and Disbursements

    Loan to Principal, November 14, 1945

       

    $9,883.22

    RECEIPTS:

    $5,000 Gatineau Power Company First 3¾’s, Series A, 1969

    $5,225.00

       

    4,000 Iowa Southern Utilities Company S. F. Debenture 4½’s, 1966

    4,160.00

       

    5,000 Northwestern Public Service Company First 4’s, 1970

    5,262.50

       

    5,000 Scranton Gas and Water Company First 4½’s, 1958

    5,050.00

       

    5,000 Tennessee Gas and Transmission Company First 3’s, 1965

    5,225.00

       

    40 shares Radio Corporation of America Common

    664.82

       

    Capital Gain Dividends Received:

         

    500 shares Lehman Corporation

    2,500.00

       

    400 shares State Street Investment Corporation

    2,260.00

       

    Sale of Rights—400 State Street Investment Corporation

    90.00

    $30,437.32

     

    Admission Fees

     

    50.00

     

    Commutations

     

    400.00

     

    Transjerred from Income to Principal:

         

    Capital Dividends Received:

         

    500 shares Lehman Corporation

    $1,205.00

       

    400 shares State Street Investment Corporation

    900.00

       

    Henry H. Edes Memorial Fund Income

    183.32

       

    Sarah Louisa Edes Memorial Fund Income

    754.60

    3,042.92

    33,930.24

    Total Receipts of Principal

       

    $24,047.02

    DISBURSEMENTS:

    $5,000 Abitibi Power and Paper Company, Limited First 5’s, June 1, 1965

     

    $5,000.98

     

    5,000 American Machine and Metals, Inc., Debenture 4½’s, July 1, 1959

     

    5,062.50

     

    5,000 Illinois Terminal Railroad Company First 4’s, Series A, July 1, 1970

     

    5,050.00

     

    5,000 Scranton-Spring Brook Water Service Company First 2⅞’s, March 15, 1976

     

    5,125.00

     

    5,000 Selected Industries, Incorporated, Debenture 2⅞’s, April 1, 1961

     

    5,101.10

     

    5,000 Tennessee Gas and Transmission Company First 2¾’s, April 1, 1966

     

    5,201.10

     

    25 shares Insurance Company of North America

     

    1,000.00

     

    Total Disbursements of Principal

       

    31,540.68

    Loan to Principal, November 14, 1946

       

    $7,493.66

    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, 1946, 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 New England Trust Company. We herewith submit their report, which has been examined and accepted by the Committee.

    Allston Burr

    Hermann F. Clarke

    Auditing Committee

    The several reports were accepted and referred to the Committee on 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 Augustus Peabody Loring, Jr.
    • Vice-Presidents Hon. Fred Tarbell Field
    • Hon. Robert Walcott
    • Recording Secretary Robert Ephraim Peabody
    • Corresponding Secretary Zechariah Chafee, Jr.
    • Treasurer James Melville Hunnewell
    • Registrar Robert Dickson Weston
    • Member of the Council for Three Years Samuel Eliot Morison

    After the meeting was dissolved, dinner was served. The guests of the Society were Professor Myles Dillon, Messrs. William B. Harvey, David McCord and Cameron Thompson. The Reverend Henry Wilder Foote said grace.

    After the dinner Mr. McCord read some of his poems, and Captain Samuel Eliot Morison addressed the Society and its guests.