May 9, 1874
Board met at the request of the Principal of the Institute. Rev. Lewis G. Barbour. Members present - George F. Lee, Jackson Givens, S.V. Rowland, Dr. Alexander R. McKee, Thomas Barbee, Speed S. Fry, and Ormond Beatty. Mr. Barbour stated that he desired, if agreeable to the Board, to confer with it in relation to the surrender at the close of the present term of his lease, and suggested the appointment of a committee by the Board which after conference with himself might report some plan or basis of a settlement with him. Messrs. S. V. Rowland & Jackson Givens from the 1st [Presbyterian] Church and 0rmond Beatty and George E. Wiseman from the 2nd [Presbyterian Church] were appointed a committee to confer with Mr. Barbour and report to the Board - the same committee was requested to examine and report in the acts of the Treasurer.
Adjourned to meet on Friday the 15th at 3 o'clock p.m.
Ormond Beatty, Secretary
May 15, 1874
Board met pursuant to adjournment. George F. Lee, Chairman; Jackson Givens, S. Warren, J.B. Caldwell, Alexander R. McKee, S.V. Roland, George W. Welsh & George E. Wiseman and Ormond Beatty.
Mr. Barbour stated that he had received a call to a Professorship in Central University, and, if it met the approbation of the Board, that he desired to surrender his lease of the Caldwell Institute at the close of the present term. After discussing a proposition for a settlement made by Mr. Barbour, the Board submitted for his consideration modified terms. The Board then adjourned to meet in the Session room of the 2nd Presbyterian Church on tomorrow at 4 o'clock p.m.
Ormond Beatty, Secretary
1874 May 16th
Board met pursuant to adjournment. Present - George F. Lee President, Josiah E. Lee, James M. Meyer, S.V. Rowland, Ormond Beatty, & Speed S. Fry. As so small a number of members were present, nothing was done except to appoint Mr. Josiah E. Lee a committee to consult in connection with Mr. Barbour, R.P. Jacobs, Esq., in order to learn in what way a sale of the furniture now in Mr. Barbour's possession would be best effected so as to secure Mr. Barbour's interest therein.
Adjourned to meet Tuesday next at 10 o'clock a.m. in the Lecture room of the 2nd P. Church.
May 19, 1874
Board of Trustees met pursuant to adjournment. Members present - George F. Lee, President, Josiah E. Lee, George W. Welsh, Jackson Givens, S.V. Rowland, Speed S. Fry, James M. Meyer, S. Warren, Alexander R. McKee & Ormond Beatty.
The following paper in relation to the release of Mr. Barbour from his obligations as Principal was adopted.
Rev. Lewis G. Barbour, Principal of the Caldwell Institute, having expressed a desire to this Board to be released from his contract with the Board that he may accept a Professorship tendered him in Central University, the Board proposes to release him upon the following terms:
The contract entered unto between said Barbour & George F. Lee, President of the Board, to terminate 20 July 1874, instead of 20th July 1876 as expressed therein; the furniture named in the contract and the stable to be appraised according to the terms thereof. The Board to pay Barbour as follows: $2,500 on October 1st 1874, and one half the remainder 1st October 1875, and the other half the October 1st 1876 - the last two payments to bear interest at the rate of 6% per annum from October 1st 1874.
The Board further proposes that after the appraisement of the property and before the sale thereof, the Board will take all necessary steps to secure the proceeds of the sale of said furniture to the payment of the indebtedness of the Board to Mr. Barbour on account of his furniture; should the sale of the furniture not realize an amount sufficient to pay the debt of the Board to Mr. Barbour, the Board agrees to execute to Mr. Barbour a note for the deficit.
Signed, George F. Lee, President, Lewis G. Barbour, Principal, Caldwell Institute
The above paper was signed as above, was adopted, and notified by the Board. Mr. Barbour being present and signifying his acquiescence therein.
In carrying out the above resolution, Messrs. R.W. Graham, Joe McJames & J.R. Nichols were selected and requested to act in this capacity.
A committee consisting of Messrs. Josiah E. Lee, George W. Welsh, & S. Warren was appointed to superintend the appraisement, the advertisement, and the sale of the furniture.
A committee to whom the subject was referred having reported it was resolved that it is the sense of this Board that immediate steps ought to be taken to release the Board of the heavy debt under which it is now laboring.
The President & the Secretary were appointed a committee of correspondence to receive proposals for the purchase of the lease of the school.
The auditing committee appointed to examine and audit the Treasurer's account reported that they had done so, & found it correct to page 5 new book. Report received and adopted. Board then adjourned.
July 31, 1874
Pursuant to motion given, Board of Trustees met & organized. Present - Josiah E. Lee, Chairman, James M. Meyer, Sidney V. Rowland, S.W. Warren, George W. Welsh, George E. Wiseman, Speed S. Fry, Thomas Barbee, & Ormond Beatty.
After conference in regard to the interests of the Institute, the Secretary was requested to write to Prof. J.F. Tarrant of Crab Orchard and ask him to attend a meeting of the Board on Wednesday next August 5.
The Sessions of the two churches were also requested to hold separate meetings to report the terms upon which they would agree each to sell its own, or to purchase the interest of the adverse party. Adjournment to meet at 9 o'clock on Wednesday next (August 5) in the basement of the 2nd Presbyterian Church.
Ormond Beatty, Secretary
August 5, 1874
Board met pursuant to adjournment. Members present - Lee President, James M. Meyer, Alexander R. McKee, S.W. Warren, George W. Welsh, George E. Wiseman, S.V. Roland, Jackson Givens, Josiah E. Lee, Thomas Barbee, & Ormond Beatty. The minutes of the last meeting were read & approved.
The members of the 1st [Presbyterian] Church having been called to say whether they had in accordance with the minute adopted at the last meeting any proposition to make in regard to the purchase of the interest of the 2nd [Presbyterian] Church or sale of the interest of the 1st [Presbyterian Church] , it was stated by one of the members of the 1st [Presbyterian Church] Church and acquiesced in by the others that they had no proposition to make.
The members of the 2nd [Presbyterian] Church being there in like manner called on, they stated that they were ready, with the good will & consent of the 1st [Presbyterian] Church, to assume all the responsibilities of the Institution, upon condition of having the exclusive control & management of it.
The Elders of the 1st [Presbyterian] Church then asked leave to retire in order to consider the proposition from the 2nd [Presbyterian] Church. Leave was granted & recess of the Board to 2 o'clock.
2 o'clock P.M. Board reassembled.
Elders from the 1st [Presbyterian] Church reported that they had concluded to accept the proposition from the 2nd [Presbyterian] Church.
The Elders from the 2nd [Presbyterian] Church then asked leave to retire for a few moments. Upon their return, they reaffirmed their willingness to execute their proposition and for the sake of the entire control of the Institution were willing to assume the position & responsibilities of the entire Board in regard to its debts.
Thereupon George F. Lee & Ormond Beatty were appointed a committee to consult a lawyer & have the proper papers prepared for the transfer of the property.
The Board then adjourned.
Ormond Beatty, Secretary
October 7, 1874
At a meeting of the Board of Trustees of the Caldwell Institute held at the 1st Presbyterian Church in Danville, October the 7th, 1874. Present - George F. Lee, Sidney V. Rowland, James M. Meyer, Jackson Givens, S.W. Warren, and [blank] Bright, Elders of the First Presbyterian Church of Danville, Kentucky, and George W. Welsh, Thomas Barbee, Speed S. Fry, Alexander R. McKee, George E. Wiseman, & Ormond Beatty, Elders from the Second Presbyterian Church of Danville, Kentucky. The following agreement was unanimously entered into, and each member of both benches of Elders requested to attach his name thereunto upon the books of the Board.
Whereas it is the unanimous sense of the Board that the best interests of the Caldwell Female Institute requires that it should be under the exclusive control and management of the bench of Elders of one of said Churches, and whereas under an agreement made by the two benches of Elders at a meeting of said Board of Trustees held on August 5, 1874, said Elders of said Second Presbyterian Church have assumed the indebtedness of said Institution amounting to about the sum of $21,000, in consideration of the agreement of said Elders of said First Presbyterian Church to assign and transfer to said Elders of 2nd Presbyterian Church and their successors in office the exclusive management and control of said Institution and its entire property real and personal. Now for and in consideration of the premises, said Elders of said First Presbyterian Church of Danville, Kentucky, for themselves and their successors in office, assign, transfer, and convey unto said Elders of the Second Presbyterian in Danville, Kentucky, and their successors in office all their rights, title, and interest in the real estate of said Caldwell Female Institute located on Lexington Street in the town of Danville, Kentucky, improvements thereon and appurtenances thereunto belonging, also in all furniture, school musical instruments, and all chores in action and all other properties and effects of every sort and kind, and do hereby surrender to said Elders the exclusive management & control of said Institute, and said Elders of the First Presbyterian Church hereby agree for themselves and their successors in office to unite in a petition to the General Assembly of the Commonwealth of Kentucky to so amend the charter of said Institute as to vest the entire property of said Institute and the exclusive control and management thereof in said Elders of said Second Presbyterian Church. If for any reason (said Elders of said Second Presbyterian Church and other persons associated with them having already assigned & given their obligations for the indebtedness of said Institute and said Elders having taken control of said Institute) there should be a failure to vest the entire property of said Institute in said Elders of the said Second Presbyterian Church, the property thereof is to be and continue to be liable for said indebtedness assumed as aforesaid and any future indebtedness incurred by said Elders of the 2nd Presbyterian Church or their successors in office in the management of said Institute.
Witness our hands this [blank] day of October 1874.
Elders of First Presbyterian Church
George F. Lee, James M. Meyer, S.W. Warren, Jackson Givens, S.V. Rowland, J.R. Bright, William B. Holmes, Josiah E. Lee
Elders of Second Presbyterian Church
Ormond Beatty, George E. Wiseman, George W. Welsh, Alexander R. McKee, Thomas Barbee, J.B. Caldwell