Danville March 26, 1860
The Trustees of the Henderson Female Institute met. Present - George F. Lee, President, Alexander Sneed, Ormond Beatty, J.M. Meyer, George W. Welsh, Robert Russel, and David A. Russel.
On motion, George F. Lee and J.M. Meyer were appointed a committee to borrow money and sign their names to notes in behalf of the Board of Trustees to comply with their contract with Mr. Sloan to loan him $10,000.
On motion the Treasurer is requested to make a report at the next meeting of the Board of the present state of the funds of the Institution. Adjourned.
David A. Russel, Secretary
Danville August 27, 1860
In a meeting of the Board of Trustees of the Henderson Female Institute, here at the office of Messrs. Bell and Cowan, George F. Lee, President in the chair, Charles H. Rochester, Robert Russel, Ormond Beatty, George W. Welsh, Speed S. Fry, and George W. Welsh. The Secretary David A. Russel being absent, Speed S. Fry was appointed Secretary pro tem.
On motion of Mr. Beatty the following order was passed, and the Secretary directed to place the same on the minutes of the Board.
Whereas George W. Welsh, Ormond Beatty, and Dr. J.M. Meyer were appointed by this Board a Building Committee, and were authorized and directed to make contracts for the erection and completion of a building for the purpose of a first class school, and whereas said Committee have gone forward in accordance with the order of this Board of 31st March 1859, and in fulfillment of the contract with A.E. Sloan of 30th December 1859, and made contracts with various parties for the necessary work in the completion of said building, and whereas it appears from a statement made before this Board that the funds arising from the subscriptions to purchase a lot and the erection of a suitable building are not sufficient for the purpose.
Wherefore it is hereby ordered that the President of the Board, George F. Lee, is authorized and directed to make to said committee George W. Welsh, 0rmond Beatty, and Dr. J.M. Meyer a mortgage of the building and lot in such manner and form as to secure to them the sum amounting to about two thousand nine hundred dollars which they have expended or which may be absorbed in their contracts for said building or which it may be necessary for them yet to expend in the completion of said building, the aforesaid building upon which said mortgage is to be given is the front four story building upon the Henderson Female Institute grounds.
On motion George F. Lee and J.M. Meyer, the committee appointed to borrow the ten thousand dollars which the Board agreed under contract to loan Mr. Sloan, he and they are directed to procure from Mr. Sloan a mortgage to them as agents of the Board on the property as set forth in his contract with the Board, to secure the payment of said ten thousand dollars. On motion the Board adjourned.
Speed S. Fry, Secretary pro tem