Name/Title
Minute BookEntry/Object ID
2014.018.0105Description
14 ¼" h x 9"w x 1 ¼"d This book has heavy cardboard covers with black pebble over the board. It has a maroon five panel spine and corners. The second panel from the top says, "Minute Book," and the fourth panel says, "The Leonardtown Bank." On cover page two is a pink label saying the book was made by the Paul Company of Baltimore and was model 14129. Each page was numbered with the usual blue number. Very faint blue lines helped the person writing the minutes keep straight.
P. 1=Blank
P. 2-11=Stockholders meetings from 1913-1925
P. 12-17=Blank
P. 18=1912 stockholders meeting
P. 19-300=Directors meetings from 1912-1924
Board of Directors meetings--1912=3 meetings in September, 4 meetings in October, 4 meetings in November, 4 meetings in December
1913=5 meetings in January, 4 meetings in February, 4 meetings in March, 5 meetings in April, 3 meetings in May, 5 meetings in June, 4 meetings in July, 4 meetings in August, 2 meetings in September, 2 meetings in October, 3 meetings in November, 4 meetings in December
1914=3 meetings in January, 4 meetings in February, 5 meetings in March, 3 meetings in April, 2 meetings in May, 3 meetings in June, 1 meeting in July, 3 meetings in August, 2 meetings in September, 2 meetings in October, 2 meetings in November, 1 meeting in December
1915=1 meeting in January, 1 meeting in February, 1 meeting in March, 1 meeting in April, 2 meetings in May, 1 meeting in June, 2 meetings in July, 1 meeting in August, 1 meeting in September, 1 meeting in October, 2 meetings in November, 1 meeting in December
1916=1 meeting each month for January through June, 2 meetings in July, 2 meetings in August, 1 meeting each month for November and December
1917=1 meeting each month for January through August, no meeting in September, 1 meeting each month from October through December.
1918=1 meeting each month from January through March, 2 meetings in April, 2 meetings in May, 1 meeting each month from June through August, no meeting in September,1 meeting each month from October through December
1919=1 meeting each month from January through March, 2 meetings in April, 1 meeting in May, no meeting in June, 2 meetings in July, no meetings from August through November, 3 meetings in December
1920=1 meeting in January, no meeting in February, 1 meeting in March, no meeting in April, 1 meeting each month from May through August, no meeting in September or October, 1 meeting each month from November through December
1921=1 meeting in January in January, no meeting in either February or March, 1 meeting in April, no meetings from May through July, 1 meeting in August, no meeting in September, 1 meeting each month for October and November, no meeting in December
1922=1 meeting each month from January through May, no meeting in June, 1 meeting in July, 1 meeting each month from August through September, no meeting in October, 1 meeting in November, no meeting in December
1923=2 meetings in January, no meeting in February, 1 meeting in March, 2 meetings in April, 1 meeting each month from May through August, no meeting in September, 1 meeting each month from October through December
1924=1 meeting each month from January through April
Noticed in the minutes:
Dr. Charles V. Hayden was chair of the stockholders meeting in 1913.
Joseph Ching held the same position in 1914 and 1915, W. H. Mattingly was chair in 1916, Ching regained the position in 1917 and 1918 and was chair in 1921
There was an annual report for 1913-1915 that is separate from the book.
The bank paid for dinner for several 1915 meetings and bought lunch at Hotel Lawrence in 1918
The first Board of Directors consisted of Charles V. Hayden, Joseph S. Matthews, J.P. Greenwell, Joseph B. Drury, Stephen M. Jones, S. Paul Hayden, and J. J. Norris. Charles V. Hayden was elected chair. There was a bylaws committee and a discount committee. The Board planned to use acetylene lighting in the new building. On September 21, Norman S. Crouch was hired as the cashier at $720/yr. Each meeting approved or rejected loan applications.
On September 30, 1912, Brother Walter of Leonard Hall School borrowed $400.
In October, the Board let the contract for heating the bank building.
The first mention of a judgment was on October 21, 1912 and first mention of an audit was October 28.
Any financial papers mailed to the bank must be sent in a sealed envelope and any property assigned to the bank must be insured.
The Board rented out the stable and corn shed on the bank's property for $2/mo.
The first mention of a mortgage was on December 23, 1912.
The minutes for December 30, 1912 list the metes and bounds of the bank's lot.
No intoxicating beverages were to be sold on property sold to Lottie Greenwell.
New cashier on January 10, 1913. Stephen M. Jones hired on at $900/yr. as of January 13.
On January 27, 1913, the Board bought furniture for the new building.
In February, the Board paid off the bank contractor, gave a loan with the property Belvedere as collateral, and charged 5% and 6% for mortgages.
In March, Jones began using a tabular form for loan applications: Name of Borrower, Amount of Loan, and Length of Loan. Many loans were only for a few months.
On April 22, 1913, the Board organized for the coming year with Charles V. Hayden, Jr. as President. Mr. Drury resigned from the Discount Committee, but continued as secretary of the Board. J. J. Norris joined the Discount Committee.
As of June 16, 1913, C. V. Hayden was paid $25/mo for his service as chair.
On June 23, 1913, W. H. Mattingly joined the Board in place of J. S. Matthews.
On July 28, 1913, H. F. Burroughs appeared on the list of the Board of Directors.
Brother Walter renewed his note several times. There was lots of loan activity in the last quarter of 1913.
In January 1914, S.M. Jones became treasurer of Saint Mary's Female Seminary. Willard Foxwell became Jones' assistant at $20/mo.
Lots of discussion at several meetings about loaning to the contractor for the State road.
All Saints Parish vestry took out a loan in October 1914.
Many loans or notes were endorsed by others, bringing a cascade of pain when there was a default.
The bank bought space in both the Enterprise and the Beacon.
In February 1915, the bank decided to fence its lot.
In the April 2015 organization meeting, Joseph Ching was added as the bank's attorney.
In May 1915, Director Hayden was authorized for a signature loan up to $1600, J. P. Greenwell could borrow up to $10,000, and S.M. Jones could borrow $1100. These amounts were revised upward from time to time.
In July 1914, the bank borrowed $3,000 from National Bank of Commerce for 30 days at 5%. Why? There was a similar loan at the beginning of 1915.
In October 1914, the Directors allowed J. H. Brown four months to repay $5.35.
At the beginning of 1916, the meeting cycle switched to monthly.
In March 1916, there were 2 ½ pages of loan applications.
In the annual reorganization in April, Elbert Drury appears as Jones' assistant and in September his pay went to $30/mo.
In September 1916, the auditor came from Cambridge.
In January 1917, a $6,000 judgment was resolved.
Loan activity continued to be brisk in 1917.
In January 1918, Liberty Bonds were acceptable as collateral.
The directors considered how they might be helpful to packers and canners in 1918
In April 1918, S.M. Jones received $100/mo. And his assistant, W. E. Drury received $40/mo.
All the Directors were able to get unsecured loans.
J. Allan Coad joined the Board of Directors in April 1919. W. E. Drury received $50/mo. The bank purchased a posting machine.
Beginning in July 1919, each Director received $1/meeting attended. The cashier was advanced to $125/mo. retroactive to January 1919.
There was a long gap between meetings. The Board resolved to charge ½ of 1% on all loans over $1,000 to provide a fund for surveying property.
In December 1919, the cashier's salary was raised to $150/mo. and his assistant to $65/mo.
In May 1920, Hayden tried to resign, but the Board talked him out of it. J. Allan Coad was elected vice chair.
In November of 1920, the bank was advised to cut back on loans and to get serious about collecting overdue notes, so in December, the bank sent out a letter to that effect.
In April of 1921, the bank hired Benedict Drury as bookkeeper.
In October 1921, the Bank Examiner insisted the Board have monthly meetings and control debt.
The Directors looked around for someone to represent north county interests, settled on Henry Fowler, Jr.
A burglar alarm was installed on the building in 1922.
The bank leaned on Leonardtown Implement Company to pay off some its substantial indebtedness. Theodore Dent shows up for the first time.
Improvements to the building were planned, such as a ladies' toilet, electric and water service.
In September 1922, H. E. Drury resigned as assistant cashier.
In 1923, L. P. Williams was chair at the shareholders meeting. Savings were up, but ready cash was down. The Directors were to be paid $2/meeting attended. W.H.B. Wise was assistant cashier and Stuart Bennett was the head bookkeeper; each made $70/mo. The Cashier received a $25/mo raise.
J. Allan Coad was again chair of the shareholders meeting in 1924. Both savings and cash increased. The Directors wanted to generate business in the 8th District.
April 7, 1924 was the last meeting in the minute book.
L. P. Williams chair at the shareholders meeting in 1925. The bank was doing well.Collection
County Trust Company CollectionLocation
Container
County Trust Collection, Box 5Shelf
Rack 12, Shelf 4Rack
Rack 12Wall
East wallRoom
Archives 1Building
Tudor HallRelationships
Related Person or Organization
Person or Organization
Bennett, Stuart B.Person or Organization
Brown, J. H.Person or Organization
Burroughs, H. F.Person or Organization
Crouch, Norman S.Person or Organization
Dent, Theodore W.Person or Organization
Drury, Benedict2Person or Organization
Drury, ElbertPerson or Organization
Drury, Joseph B.Person or Organization
Fowler, Henry2Person or Organization
Foxwell, Willard S.Person or Organization
Greenwell, CharlottePerson or Organization
Greenwell, John P.Person or Organization
Hayden, Charles V.Person or Organization
Hayden, S. PaulPerson or Organization
Jones, Stephen McKennyPerson or Organization
Matthews, Joseph S.Person or Organization
Mattingly, William H.Person or Organization
Norris, J. J.Person or Organization
Walter, BrotherPerson or Organization
Williams, L. P.Person or Organization
Wise, W. H. B.Person or Organization
Coad, J. Allan (Joseph Allan), 1884-1963