April 17, 1866
Board of Trustees of Caldwell Institute met at the call of the Chairman.
Present - Lee, Welsh, Barbee, Fry, Beatty. The minutes of the last meeting were read and approved. Messrs. Welsh and Beatty reported that they had bought in the Building (which had been put up to public sale in accordance with a decree of the court) for $1,200. Previous to the sale, however, terms of arrangement had been affected with almost everyone of the lien-holders and all their claims bought in for amounts as follows, viz
| George W. Welsh liens | $140.65 |
| current lot | $500.00 |
| Samuel Messick | $132.40 |
| Mrs. [illegible word] | $32.62 |
| S. Fields | $48.29 |
| M.P. Jacobs expenses | $15.00 |
| and others not yet settled |
Young & Cloyd have been paid in full except the tuition allowed them. Board adjourned to meet next Monday at 4 o'clock p.m.
Ormond Beatty, Clerk
April 23, 1866
Board met pursuant to adjournment. Present - Lee, Meyer, Sneed, Barbee, Welsh & Beatty.
The subject of the election of a Principal for the School was discussed, and it was determined to make nominations which should lie over for two weeks. The following names were suggested. Rev. William J. McKnight, Rev. Thomas Cleland, Prof. Campbell of Lexington, Virginia, & George N. Edgar of Salem, Roanoke Co., Virginia.
Adjourned to meet two weeks from tomorrow the 8th of May at 3 o'clock p.m.
Ormond Beatty, Secretary
May 8, 1866
Board met pursuant to adjournment. Present - Lee, Sneed, Pawling, Russel, Barbee, Meyer, Fry, Welsh, & Beatty. Minutes of the last meeting were read and approved. On motion, Messrs. Welsh, Josiah E. Lee, Thomas Barbee were appointed a committee to receive the Building of furniture at the close of the present term, in accordance with the contract with Mr. Hart, and to provide for its preservation and safety during the vacation.
A ballot was then taken for Principal and Mr. McKnight (Rev. William), was elected and the election declared unanimous by the Board; and the Chairman directed to appoint a committee to inform him of his election & to confer with him on the terms of his acceptance. Dr. Meyer & Mr. Welsh were appointed on this committee. Adjourned to meet on next Saturday at 4 o'clock p.m.
Ormond Beatty, Secretary
June 11, 1866
Board of Trustees of the Caldwell Institute met at the call of the Chairman. Members Present - Lee, Russel, Pawling, Meyer, Sneed, Welsh & Beatty.
The committee appointed to inform Mr. McKnight of his election reported by submitting to the Board Mr. McKnight's letter in response to theirs. The report was received and the Board resolved to proceed to answer the question in his letter as follows, viz
The Board is willing to lease the building separate from the furniture for a period of from five to ten years. The rent shall be fixed at $1,500 a year, payable semi-annually. The Board will agree to pay out of this rent the insurance & cost of annual repairs, which shall all be made under the direction of the Board.
Pending the further consideration of this report Messrs. Lee & Meyer made the following request which they asked to have spread on the minutes, viz
We the undersigned having been appointed a committee to borrow money necessary to comply with their contract with Mr. A.E. Sloan, having attended to this up to this time, we now ask the Board to be released from this liability.
George F. Lee, J.M. Meyer
It was moved and carried to request these gentlemen to lay before the Board at their first convenience a detailed report of the debts to which they allude in their request. Adjourned to meet on tomorrow at 3 o'clock p.m.
Ormond Beatty, Secretary
June 12, 1866
Board met pursuant to adjournment. Members present - Lee, Sneed, Pawling, Russel, Welsh, Meyer, & Beatty.
It was moved and carried that a committee be appointed to visit Mrs. Caldwell, and ascertain what arrangement could be made with her in relation to the relinquishment by her of the interest which she held in the furniture of the Caldwell Institute. This committee shall consist of Dr. Pawling, Mr. McKnight & Mr. Beatty. Adjourned to meet at 8 o'clock on Thursday morning.
Ormond Beatty, Secretary
June 14, 1866
Board met pursuant to adjournment. Present - Lee, Russel, Meyer, Pawling, Welsh, Beatty.
The committee appointed to see Mrs. Caldwell made a verbal report through the chairman and were discharged.
In further answer to Mr. McKnight's question, the following minute was adopted viz. That there are claims upon the furniture, which the Board is not in a condition to meet, and which will render its sale necessary. Its lease under the circumstances is out of our power.
Mr. Beatty reported that he was authorized to state on the part of Mr. McKnight, that he would respectfully decline the appointment tendered to him. Adjourned to meet on Saturday at 2 1/2 o'clock p.m.
Ormond Beatty, Secretary
June 16, 1866
Board met pursuant to adjournment. Members present - Lee, Russel, Pawling, Welsh, Givens, Meyer, Sneed & Beatty. It was moved and carried that we now proceed to an election. The Rev. Thomas Cleland & the Rev. W.H. Mitchell, D.D., of Florence, Alabama, were put in nomination. A ballot was taken which resulted as follows: for Mitchell five, for Cleland three. It was moved and carried that a committee be appointed to correspond with Mr. Mitchell and inform him of his election.
After considerable discussion the vote electing Dr. Mitchell was reconsidered and upon motion Rev. L.G. Barbour was unanimously elected. The Secretary was requested to notify Mr. Barbour by telegraph of his election and to request him to come to Danville immediately.
June 20, 1866
On motion the board agreed to accept a proposition made by Messrs. George E. Lee & George W. Welsh, who offered their entire interest in and all claims upon the furniture of the Institute for the sum of $1,000.00 each. Also a proposition of George F. Lee, who offered his entire interest in, and all claims upon, the same furniture together with $400 each, if the Board would agree to release him from all further responsibility of borrowing money or giving his name as security for same, sixty days time is given the Board to effect the release of his name from papers already signed. Also a proposition of Dr. J.M. Meyer who in like manner offered all his interest in and claims upon the furniture for $1,000 in money & for $500 in tuition to be taken out at the rate of not more than $100 per year.
The Board offered to rent the Building to Mr. Barbour at the same rate at which it was offered to Mr. McKnight and as seconded in the minutes of the meeting of the 11th of the present month.
They also offered to lease the furniture to him for $2,000 per annum and insurance of $100.00 payable semi-annually, the lease to run for five to ten years.
Or if he preferred it, to sell the whole of the furniture to him at the appraised value, the interest of the whole sum & $2,000 of the principal to be paid annually, in semi-annual payments. At the expiration of the lease, the Board would take back the furniture at its then appraised value if Mr. Barbour so desired. Adjourned.
Ormond Beatty, Secretary
July 7, 1866
Board of Trustees met at the call of the Chairman. Present - Lee, Russel, Givens, Barbee, Pawling, Meyer, Welsh, & Beatty.
A correspondence having carried between Mr. Barbour and the Board in reference to the terms on which he would consent to take charge of the school, the whole subject was considered by the Board & Mr. Barbour was invited to come before the Board, that a conference might be held in reference to the whole matter. A proposition was made to Mr. Barbour to sell to him all the furniture except the pianos, chapel furniture, and coach, and to [unclear: lien] to him the remainder of the furniture & the building. Adjourned to meet at 3 o'clock on Monday next.
Ormond Beatty, Secretary
July 9, 1866
Board met pursuant to adjournment. Present - Lee, Meyer, Pawling, Barbee, Welsh & Beatty. The proposition made to Mr. Barbour in the last meeting was substantially accepted, and Mr. Beatty appointed a committee to have a contract prepared according to the terms of agreement.
Mr. Beatty was also appointed a committee to see Mr. R.P. Jacobs, who had been appointed by the court a trustee, to order and effect a sale of the furniture, and to take the necessary steps to have this business attended to.
Ormond Beatty, Secretary
September 29, 1866
Pursuant to a call the Trustees of the Caldwell Institute met at George W. Welsh's store. Present - Barbee, Meyer, Welsh & Lee. A motion was made & carried that 0rmond Beatty, the Treasurer, be ordered to receive the payments of Mr. Barbour on his contract, and pay off Mr. Quisenberry's debt, and the balance apply to any other debt most pressing. Adjourned sine die.
Ormond Beatty, Secretary
October 22, 1866
Board met pursuant to public call of the Chairman. Present - Lee, Russel, Pawling, Fry, Sneed, Barbee, Welsh & Beatty. Minutes of the last three meetings (July 7th, July 9th & Septembe 29th) were read and approved. Mr. Beatty, who had been appointed to see to the selling of the furniture in accordance with the decree of the court, reported that such sale had been effected & that Mr. Welsh had bought the furniture for the Trustees at its appraised value of about $12,000.
Mr. Beatty also reported that a contract between Mr. Barbour and the Trustees had been prepared as ordered and was now ready for signature. The Secretary was directed after it shall be signed to spread a copy upon the minute book and also to have it recorded in the clerk's office. Mr. Beatty also reported that he had paid the note due to Mr. Quisenberry, which with accrued interest amounted (the balance) to $1475.11.
Messrs. Welsh & Barbee were appointed a committee of repairs, whose duty it shall be to superintend all repairs of all property belonging to Caldwell Institute, and to audit all accounts for payment by the Treasurer.
The following is a list of furniture reserved by the Trustees for themselves in the sale, which was made to Mr. Barbour viz.
| 8 | Hazlett & Davis pianos | $325 | $2,600 |
| 4 | Hazlett & Comstock pianos | $285 | $1,140 |
| 1 | Steinway piano | $400 | $400 |
| 13 | Piano stools | $6 | $78 |
| 8 | Piano covers ($4,258) | $5 | $40 |
| Coach & 4 sets of harness | $350 | ||
| 58 | Large arm chairs in chapel | $3.50 | $203 |
| 24 | Green bottomed chairs | $3 | $72 |
| 144 | School desks & chairs | $5 | $720 |
| 1 | Clock in chapel | $25 | |
| 1 | Book case | $20 | |
| 1 | Organ ($2190) | $800 | |
| $6,448 |
At his request Messrs. Welsh & Barbee were appointed to examine the Treasurer's accounts up to the present date.
The Board having failed to fulfill its engagements with George F. Lee as expressed in the minute adopted June 20th of the present year, with the consent of Mr. Lee, the agreement herein recorded was annulled; and the Board agreed to give him, for his entire interest in the furniture the same sum, viz $1,000, which had been given to Mr. Josiah E. Lee & George W. Welsh.
The attention of the Trustees was called to their obligations to Mr. McKnight for procuring subscriptions amounting to about $8,000 to pay off the debt of the Institute. It was understood that the Trustees had agreed to give him five percent of the amount he should raise to be paid in tuition without interest as he might choose to take it out in schooling his own children. The Board hereby recognizes its obligation as above.
Mr. R.P. Jacobs, having rendered gratuitously very great and valuable service to the Board by his legal advice and by his careful & laborious attention to the business of the Institute during the progress of the litigation in which the Board was unfortunately engaged. Therefore, resolved that the Board hereby expresses its most grateful sense of both the extent and value of Mr. Jacob's service in a time of deep trouble and anxiety.
Ormond Beatty, Secretary
Agreement between L.G. Barbour and Trustees of Caldwell Institute.
This agreement made and entered into by and between the Board of Trustees of the Caldwell Female Institute of Danville, Kentucky of the first part and L.G. Barbour, Principal elect of said Institute, of the other part this day of July 1866 witnesseth.
- That said Board of Trustees have this day leased to said L.G. Barbour the entire premises of the said Caldwell Female Institute at Danville, Kentucky, with all the appertinences thereunto belonging, for the period of five years from the 20th day of July 1866; and said L.G. Barbour in consideration of said lease hereby binds himself, his heirs, and personal representatives to pay said Board of Trustees at the rate of fifteen hundred dollars per annum, payable semi-annually in equal payments of $750.00 on the 1st day of March and the 1st day of October of each year. But it is understood and agreed between the parties hereto, that said L.G. Barbour, if he elects so to do, at the end of the said period of five years, shall have the privilege of continuing his possession and lease of said premises five years longer, making the whole period ten years from the 20th day of July 1866. Upon the same terms and conditions as for the first five years.
- In consideration of the sum of $3,000.00 to be paid the 1st of October 1866 and the balance, to wit $6,758.21, to be paid in installments of $500.00 except the first payment of $758.21 on the first day of March and the 1st day of October of each year, with interest at 6 per cent per annum from the date hereof, the first payment to be made on the 1st day of March 1867 and the whole sum to be paid within seven years, have bargained and sold to said Barbour all the articles of furniture, etc., set out in a memorandum filed, marked A and made part of this contract; and now on the premises of said Caldwell Female Institute. And said Barbour to secure said Board of Trustees in the payment of the purchase price hereby mortgages to said Board of Trustees the whole of said articles embraced in said memorandum marked "A".
- The Board of Trustees hereby rent to said L.G. Barbour all the articles of furniture, etc., which have been reserved by them, and set forth in a memorandum marked B filed and made part of this contract, and for the use of which said Barbour agrees to pay 12 percent per annum on its valuation as stated in said memorandum B, or said Barbour may for the use of the pianos pay to the Board the fees received by him from the scholars for the use of the instruments. And it is hereby agreed between said parties that said Barbour may at any time take any or all of said reserved articles at a valuation to be made at the time by two disinterested persons, one to be selected by each party, and said Board retains a lien on such articles taken for the payment of the purchase price.
- The Board of Trustees aforesaid agree and bind themselves and their successors to keep all the buildings on said premises in repair and insured. The repairs to be made under the direction and as thought proper by the Board.
- L.G. Barbour agrees and binds himself to have all the furniture, etc., both that which he has purchased and that which is reserved and set forth in said memorandums A and B, insured in one or more good and reliable insurance companies, and to expend yearly $100.00 in procuring such insurance. In case of loss or accident whereby said policy or policies become payable, the proceeds are to be divided between the parties in exact proportion to their respective interest in the furniture at the time of the loss or accident, but upon the share thereof going to said Barbour, a lien is hereby declared by him in favor of said Board for any unpaid balance of the purchase price of the furniture bought by him or to be hereafter bought. And the same is transferred to said Board to secure said debt or debts for the furniture.
- It is agreed that L.G. Barbour may expend in repairs on the furniture not purchased annually a sum not to exceed $50.00 and for the amount expended in such repairs he is to receive a credit on the annual rent for the furniture.
- If at the end of two years said L.G. Barbour shall find that he has lost money on the enterprise, he shall at his own request be released from this contract for the lease of said premises, or in case of death or permanent disability of said Barbour before the expiration of his lease, said Barbour or his heirs or representatives in case of death, are to be released from said contract and the premises surrendered to said Board.
- It is hereby agreed by said Board of Trustees that at the expiration of the lease of said Barbour or in case of permanent disability or death, said Board will take back the furniture bought or to be hereafter bought by said Barbour at an appraisement to be made by three disinterested persons, one to be chosen by each party and the third elected by the chosen men. But in case of his death, the heirs and representatives of said Barbour, if they so prefer, may keep said furniture.
George F. Lee President, L.G. Barbour