January 12, 1872
Board met & again adjourned until tomorrow at 3 o'clock p.m.
Saturday January 13, 1872
Board met. Present - George F. Lee, James M. Meyer, Josiah E. Lee, S.R. Roland, William Holmes, Thomas Barbee, William Pawling, George W. Welsh, Camillus W. Metcalfe, & Ormond Beatty.
On motion it was ordered that the paper prepared by the Secretary exhibiting the financial condition of the Institute be spread on the minutes, including the list of the present liabilities of the Board, and by a unanimous vote of the Board it was declared that it recognized the justice of the claims and its obligation to meet them as they were created in the interest of and for the sole benefit of the Institute, and it hereby declares that the entire property of the Institute is and shall be, held bound for these claims and for any other that may be created in their just liquidation.
The following is the paper presented by the Secretary.
Debts created in the settlement of Mechanics, Liens & other claims against Caldwell Institute
| Cincinnati Mechanics | Settled | $5,500.00 | |
| Robert Russel | Settled | $1,310.87 | |
| E.B. Russel | Settled | $1,310.87 | |
| Robert Russel for tuition partially | Settled | $327.71 | |
| E.B. Russel for tuition partially | Settled | $327.71 | |
| Tompkin's Heirs | Settled | $431.21 | |
| S.W. Cloyd | Settled | $1,759.49 | |
| S.W. Cloyd for tuition | Settled | $329.90 | |
| H.R. Young | Settled | $935.49 | |
| H.R. Young for tuition | Settled | $175.44 | |
| George W. Welsh for interest in several liens | $140.65 | ||
| Couvert lot | Settled | $640.00 | |
| S. Merrick | Settled | $132.40 | |
| Mrs. McRoy | Settled | $32.60 | |
| Mr. Levinson | Settled | $30.80 | |
| Mr. Merritt | Settled | $122.00 | |
| S. Fields | Settled | $48.29 | |
| Gsatzmuller settled in part - in full since | $128.62 | ||
| Taxes, stamps, expenses, etc. | Settled | $32.68 | |
| Robert Russel for work on Front Building | $557.57 | ||
| E.B. Russel for work on Front Building | $557.57 | ||
| $14,831.87 | |||
Debts created in purchase of furniture
| George W. Welsh | $880.00 | ||
| George F. Lee | $1,000.00 |
Debts of Merchandise
| Debts for furniture | settled | $1,880.00 | |
| Debts James M. Meyer | partially settled | $1,500.00 | |
| Debts Mrs. Caldwell | unsettled | $1,000.00 | |
| Debts Josiah E. Lee | settled | $1,000.00 | |
| $5,380.00 | |||
| Debt for money borrowed to loan to A.E. Sloan about (exact amount unknown) | $12,000.00 | ||
| Total debt assumed by Board | $32,211.87 | ||
| Amount collected by subscription | $7,615.00 | ||
| Amount from furniture sold to Mr. Barbour | $7,758.21 | $15,373.21 | |
| TOTAL | $16,838.66 | ||
The above represents what the debt would be if the rents, etc., paid by Mr. Barbour had just paid the interest. This does not include Mrs. Caldwell's claim for furniture.
Present Liabilities as far as ascertained:
| C. Rodes due January 4, 1872 | $1,854.75 |
| Note originally given to 2d Presbyterian Church now in the hands of Mr. Holmes February 10, 1872 | $672.00 |
| Miss Jane Whelon due March 27, 1872 | $4,000.00 |
| Mrs. E.S. Russel (3 notes) in paid to July 1, 1871 | $5,044.00 |
| Mrs. Taylor now Mrs. Owsley due September 1st | $3,881.20 |
| Mrs. Young Ladies Working Society (about) | $100.00 |
| E.B. Russel unsettled claims (about) | $100.00 |
| Robert Russel unsettled claims for tuition (about) | $40.00 |
| Dr. George W. Welsh unsettled claims for tuition (about) | $500.00 |
| Due Treasurer | $108.76 |
| Mrs. Caldwell's claim for furniture | $1,000.00 |
| Total liabilities of Board | $17,300.71 |
Mr. Barbour still owes $2,000 on furniture purchased by him and a legacy of $2,000 will be due from the estate of Mr. C. Caldwell.
Messrs. Welsh, Josiah E. Lee, Roland, & Beatty were appointed a committee to confer with Mr. Barbour in regard to the extension of his lease of the Institute Building for a term of years.
Mr. Josiah E. Lee was added to the Committee of Repairs (which now consists of Thomas Barbee, George W. Welsh, & Josiah E. Lee) and it was ordered that no repairs should be allowed unless under the direction and with the sanction of this committee.
Messrs. Roland and Metcalfe were appointed a committee to examine and report upon the lien of Dr. Meyer against the Institute.
Messrs. Metcalfe & Roland reported that they had examined the accounts of the Treasurer & had endorsed upon his book that they had found the accounts correct to the date on page 89 of this book. The report was received and adopted.
The Board then adjourned to meet at the call of the Chairman.
Ormond Beatty, Secretary