February 6, 1865
Board of Trustees of the Caldwell Institute met at the public call of the Chairman. Present - George W. Welsh, J.M. Meyer, Thomas Barbee, Alexander Sneed, and Ormond Beatty. Mr. Welsh was appointed Chairman pro tem.
After a full conversation on the subject, the Board agreed to accept the proposition of the Cincinnati Mechanics and Material Men, viz that the Board would pay the sum of $5,500 for the entire claims of these parties both on the front and rear building. The following are the claims referred to, viz
On the Front Building:
| Miles Greenwood's bill | $1,948.80 |
| John McNeal's bill | $1,344.17 |
| McHenry & Carson bill | $702.95 |
| $3,995.92 | |
| Interest on above to February 1, 1865 | $919.06 |
| $4,914.98 |
On the Rear Building:
| Miles Greenwood's bill | $2,071.87 |
| John McNeal | $2,060.41 |
| McHenry & Carson | $297.05 |
| Midway & Burton | $537.00 |
| $4,966.33 | |
| Interest on same to February 1, 1865 | $1,142.25 |
| $6,108.58 |
These together with whatever additional interest may occur before the final settlement shall be effected.
It was ordered by the Board that the Secretary be directed to see that the entire building, both Front & Rear, be kept insured for an amount not less than $20,000, in accordance with the original contract with Mr. Sloan of the 29th of December 1859. He is further directed to have the furniture insured for not less that $5,000, for the benefit of the Board. This insurance is to be continued from year to year until the debt for which it was mortgaged by Mr. Sloan to the Board shall be paid. As long as the Board forbears to foreclose the mortgage, and allows the debt to remain uncollected it claims, and directs the Secretary to urge this claim with Mr. Sloan, that it is but just that he should pay the insurance premium as by his contract he was required to make the debt secure.
The premium of the entire building must also be paid by Mr. Sloan, and the Secretary is directed to collect from him the required sums for both of these objects.
The Secretary is directed to report to the next meeting of the Board, and from time to time, so as to keep the Board fully advised in relation to this business.
Board adjourned to meet on Friday next to hear reports from George W. Welsh & George F. Lee on matters referred to them.
Ormond Beatty, Secretary
February 10, 1865
Board of Trustees of the Caldwell Institute met pursuant to adjournment. Present - George F. Lee (President), George W. Welsh, Alexander Sneed, Thomas Barbee, Ormond Beatty, and J.M. Meyer.
Mr. Welsh made a report from Mr. Sloan in relation to the cost of the Rear Building and of the permanent fixtures in Front Building which according to the original contract with the Board he erected. The report was received; and Mr. Welsh was directed to complete the report and have it prepared in suitable form to be spread on the minutes of the Board.
Mr. Lee also presented a report in relation to Mr. Sloan's indebtedness to the Board. The report was received and directed to be spread on the minutes and is as follows.
The following notes represent the sums originally borrowed and loaned to Mr. Sloan in accordance with the original contract with him, together with interest which has accrued upon some of them and which has been added to the principal.
| [unclear: Mrs. Pursel?] due January 1st 1864 | $1,544.00 |
| [crossed out] | $2,123.38 |
| Interest on the above two notes | $238.37 |
| Mary Barkley due March 1st 1864 | $2,844.58 |
| R.A. Johnston | $3,003.72 |
| Interest on the above two notes | $321.65 |
| Mr. Quisinberry due December 9th 1862 | $1,664.18 |
| Interest on same | $208.00 |
| B. Forman now 2nd Church | $672.35 |
| $12,620.23 | |
| Cash in hand | $150.00 |
| $12,470.23 |
Mr. Lee was requested by the Board to prepare a full and exact history of this whole business from the beginning in a condensed form, suitable to spread upon the books of the Secretary.
Messrs. Beatty, Barbee, and Sneed were appointed a committee to confer with the committee who held the 2nd mortgage on the furniture, etc., and report to the Board at its next meeting a proposition for an adjustment of their respective claims.
Messrs. Thomas Barbee, George W. Welsh, and Ormond Beatty were appointed a committee to borrow $5,500, and apply it to the purchase of the claims of the Cincinnati Mechanics & Material Men in accordance with the order of the Board adopted at their meeting February 6th 1865, and the faith and property of the Board is pledged for this as for all other debts made by the direction and under the authority of the Board.
Adjourned to meet on Friday February 24th 1865.
Ormond Beatty, Secretary
February 24, 1865
Board of Trustees of Caldwell Institute met pursuant to adjournment. Present - George F. Lee (President), George W. Welsh, Thomas Barbee, J. Givens, and Ormond Beatty.
The minutes of the last two meetings were read and approved.
Mr. Beatty reported that he had directed the insurance policy to be taken on the furniture to the amount of $5,000 for the benefit of the Trustees. The Board ordered it to be incurred to the sum of $10,000.
Messrs. Barbee and Welsh & Beatty reported that they had borrowed the sum of $5,500, and paid the claims of the Cincinnati Mechanics and Material men as directed by the Board. An account and a memorandum of this business is recorded in the Treasurer's book (fore part of this volume) on pages 55 and 96. The report was received and approved.
Mr. Welsh reported from Mr. Sloan a statement showing the expense the latter was at in the erection of the wing building, and in furnishing the whole building - front and rear - with apparatus for heating it -- for gas, and supplying it with water in accordance with the original contract - 29th December 1859 - with Mr. Sloan. The statement was ordered to be spread on the minutes of the Board and the paper itself to be filed. It is as follows, viz
| S.H. Gregory & Co. bill for wall paper | $415.19 |
| Appleton's & Graham's bill gas apparatus about | $1,450.00 |
| N.C. Cosby's bill plastering | $1,491.19 |
| Malcolm's bill plastering | $950.00 |
| Jas. Dunlap & Co. bill lumber | $144.00 |
| Alex Ellis & Co. | $91.17 |
| G.W. Collins bill roofing | $1,803.00 |
| Jno. Tompkins bill stone work | $1,200.00 |
| R. & E. Russel's bill brick work | $6,175.31 |
| Miles Greenwood bill | $4,131.69 |
| Jno. McNeil bill | $3443.96 |
| Redroy and Burton bill | $525.90 |
| McHenry and Carson bill | $1,500.00 |
| Cloyd & Young bill carpentry | $9,500.00 |
| Sheons & [unclear: Gsatrymuller] | $928.00 |
| Mr. Springers bill about | $200.00 |
| Mr. Carters bill about | $350.00 |
| Mr. Wiehl bill about | $700.00 |
| Dr. Downton bill fencing, etc. | $85.00 |
| Welsh & Co. Lumber, nails, etc. | $850.00 |
| [unclear: Mahis] [unclear: curbing], etc. | $85.00 |
| Clevis & Lankhart | $260.00 |
| $35,279.45 |
Most of the above assets, I think, are exact; others probably differ a little, but only slightly, I think from the original bills.
A.E. Sloan
It is hereby ordered that immediate steps be taken to foreclose the mortgage which the Board holds against Mr. Sloan's furniture, etc., etc.
Adjourned to meet at 3 o'clock on Friday the 10th of March.
Ormond Beatty, Secretary
1865 April 21st
Board of Trustees of the Caldwell Institute at the call of the Chairman. Present George F. Lee (President), George W. Welsh, Thomas Barbee, Dr. J.M. Meyer, and Ormond Beatty. The minutes of the last meeting were read and approved. Mr. Beatty was authorized to visit Mr. Johnston and consult with him in reference to the suit now pending before the court at Harrodsburg. He was also authorized to take Robert Jacobs with him. All at the cost of the Board. Adjourned to meet this day week.
Ormond Beatty, Secretary
July 1865
Board of Trustees of Caldwell Institute met. Present - Lee, Welsh, Givens, Barbee, & Beatty.
The following minute was adopted. Mr. A.E. Sloan, the Principal of this Institute, having at the close of the recent term expressed both publicly & privately to the members of the Board a doubt as to whether he would again open his school in Danville. He is hereby earnestly solicited not to abandon his post. In this the Board expresses not its own wishes only, but represents, as we believe, the views of all the patrons of the school. The interests of the school, however, demand an early decision of the question by Mr. Sloan. The Board desires to know whether and upon what conditions he will return.
As an answer to their suggestions and to a request of the Board, a letter of which the following is a copy was received.
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To this letter by order of the Board a reply was returned to the effect that it was out of the power of the Board to accede to his terms and asking whether he intended to turn over the Building to the Board.
Meantime, and before an answer to this letter was received, at the suggestion of his brother-in-law Mr. Buhford, another proposition was made to Mr. Sloan by the Board. The Trustees and the committee who held the 2nd mortgage on the furniture agreed jointly to conduct the school and employ Mr. Sloan at a fixed salary. These two bodies agreed to share equally the burdens of the school, to pay Mr. Sloan and his wife $2,000 a year with their board free, to guarantee the salaries of all the teachers, to maintain all the expenses of the school and to keep the Building in repair and insured.
From the net proceeds of the school after repairs and insurance were paid, the interest on the debt due to the Trustees and to the committee was then to be paid and all profits, if any, should accrue were to be equally divided between them. Mr. Buhford was authorized to bear this proposition to Mr. Sloan.
An order was adopted by the Board to buy in all claims of lien holders at a rate not exceeding 40 cents on the dollar. Messrs. Beatty, Welsh & Barbee are appointed a committee to execute this order, and they are empowered with all the authority of the Board to act in this matter.
Ordered that an immediate effort be made to raise the sum of $10,000 and that our pastors and Dr. Humphrey be requested to present this subject to our congregations at an early date. Messrs Beatty, J.E. Lee, Dr. Downton, McKnight, J. Givens, and Dr. Bosly were appointed a committee to carry out this order.
Adjourned.
Ormond Beatty, Secretary
August 1865
Board of Trustee met. Present - Lee, Meyer, Givens, Barbee, Welsh, & Beatty.
A letter was received from Mr. Sloan declining the last proposition which was made to him by the Trustees. The letter was directed to be filed.
Ordered that Messrs. Beatty, Welsh, & Lee be appointed and authorized by this Board to make the best arrangements which they may be able to effect with Mr. Hart for carrying on the school during the ensuing year. Adjourned.
Ormond Beatty, Secretary
August 27, 1865
Board met. Present - Lee, Meyer, Givens, Sneed, Barbee, Welsh, & Beatty.
It was ordered that appraisers be appointed by the Board and the committee who hold the 2nd mortgage on the furniture, who shall be requested to appraise all the furniture on which the Board & said committee hold mortgages. Messrs. Graham, Nichols, and Joseph M. James were appointed to act with Mr. R. Jacobs, who was requested to take an inventory.
After appraisement it is agreed on the part of the committee that the Board shall take such property as they may select at the appraisement, which shall enter as a credit upon their claim upon their mortgage on the property. If the value of the property which they may select shall be equal to the entire amount of their claim against Mr. Sloan, they will relinquish all claim upon the remainder to the 2nd mortgage holders. If, for less than the full amount of their claim, the remaining furniture to be sold, and after the full claim of the first mortgage is satisfied, the remainder to go to satisfy the 2nd mortgage. It is understood that the Board must select before they know the appraised value of any piece of furniture, but they may know its value as soon as selected, and they are required to take no more than they may desire.
Messrs. Beatty, Barbee and Fry were to designate the furniture which the Board would take.
A contract with Mr. Hart was submitted and accepted by the Board and the committee directed to satisfy it. The contract was left at Central Bank to be kept for the use of the parties. Adjourned.
Ormond Beatty, Secretary
September 30, 1865
Board assembled. Present - Lee, Sneed, Barbee, Fry & Beatty. Minutes of the last two meetings were read and approved. It was reported that Messrs Beatty, Lee and Welsh had executed their notes to R. & E.B. Russel for the following amounts in consideration of the relinquishment of their claims against the Institution viz.
| One note to R. Russel for | $1,310.87 |
| E.B. Russel for | $1,310.87 |
Also George F. Lee, as President of the Board, executed two notes to the same parties, one to each for $327 to be paid in tuition. The Board now fully notified approves and assumes the responsibility of these acts of its agents.
Messrs. Welsh, Beatty, & Lee were appointed to make arrangements for the purchase of Mr. Cloyd's claim against the Institute; they were authorized to settle with him allowing him 40 cents to the dollar on his claim against the Institute, & tuition not to exceed 7 1/2 cents on the dollar. Adjourned.
Ormond Beatty, Secretary
November 13, 1865
Board met pursuant to call. It was ordered that Mr. Beatty be directed to collect all subscriptions in favor of the Caldwell Institute and to pay as far as the means would go all the mechanics claims for liens, and all obligations of the committees of the Board incurred in the purchase of these claims.
Messrs. Beatty & Welsh were also authorized at their discretion to purchase any outstanding claims of mechanics. It was also ordered that the outstanding claim of Mr. Welsh for the current lot in bought.
Mr. Beatty also reported that the committee of the Board had executed their note to the Trustees of the 1st Presbyterian Church for $2160.00 borrowed and entered due October 24th 1866, and the money used in paying claims against the Institute.
Also that the claims of S.W. Cloyd amounting to $1759.49 and H.R. Young, amounting to $935.49, has been bought in; also that the President of the Board had issued his certificate to Cloyd for $329.90 to be paid in tuition and to H.R. Young for $175.44. The Board approves and ratifies and hereby assumes the responsibility of the same. Adjourned.
Ormond Beatty, Clerk