October 2, 1864
Board of Trustees of Caldwell Institute met at the call of the President. Present - George F. Lee (President), Alexander Sneed, William Pawling, George W. Welsh, J.M. Meyer and Ormond Beatty.
Mr. Lee made a verbal report in relation to the debt of Mr. Sloan to the Board. The report was received, but Mr. Lee was requested to make a full and complete statement in writing in proper form to go upon the books and to report to the first meeting of the Board.
Mr. Welsh was appointed a committee to wait upon Mr. Sloan and get from him a full statement of the cost of that portion of the building erected by him and of the permanent fixtures, which he has put up in order to have it spread upon the records in accordance with the agreement between the Board and himself.
It is hereby ordered that Messrs. J.F. Bell and Mat Johnson, Esq., be employed by this Board in the suit now pending in relation to the property of the Institute to defend the interests of the Board. The Board agrees to pay three fourths of the cost of said defense. The committee of five men, viz George W. Welsh, George F. Lee, J.M. Meyer, J.E. Lee, and Charles Caldwell, having a personal interest in the school, and a majority of them, viz George W. Welsh, George F. Lee, and J.M. Meyer being present when this minute was adopted, agree to pay the remaining fourth. In order to secure the means on the part of the Board, Mr. Welsh was directed to raise the necessary amount from Mr. Sloan on the account of the debt due from Mr. Sloan to the Board. Adjourned.
Ormond Beatty, Secretary