Name/Title
Minute Book No. 2 Leonardtown Bank of the E[astern] S[hore] Tr[ust] Co.Entry/Object ID
2014.018.0107Description
14 ¼"h x 9"w x 1 ¼"d Black pebbled finish covers with maroon spine and corners with Greek key bands of gold for decoration. The spine has five panels: "Ledger" is barely visible in panel two, "3" is in a stripe near the very bottom. On the center front is a 3 ¼"h x 5"w panel. This book covers April 1932--August 1933.
P. 1-2=found elsewhere and brought back to the book
P. 3-8=blank
P. 9-10=torn out
P. 12-13=blank
P. 14-58=Board of Directors meetings
P. 59-60=torn, but present
P. 61-96=more minutes
P. 97-99=blank
P. 100-107=Stock certificates brought for exchange in 1935 + many loose sheets about the exchange of shares
P. 108-300=blank
There were monthly meetings from April to December of 1932, January to April 1933, and August 1933. There were long lists of 30, 60, and 90 day loans, most of which were under $200.
At the stockholders meeting of April 18, 1932, there were 222 shares represented in person and by proxy. Charles Hayden did not stand for re-election. J. Allan Coad, J. J. Norris, Joseph A. Saunders, Joseph B. Drury, W. H. Mattingly, H. F. Burroughs, Z. M. Fowler, J. G. Nuthall, and S. M. Jones were elected by acclimation. There was no discussion at all.
April 18, 1932 The new board met. J. Allan Coad was elected President. W. H. Mattingly was chosen as vice president, with Stephen Jones as cashier. J. J. Norris was chosen as secretary, J. H. T. Briscoe was selected as the attorney. W. H. B. Wise was the assistant cashier, J. T. Wilkinson was the bookkeeper and Catherine M. Love was his assistant. The Deputy Bank Commissioner told all banks to set up policies to cut the directors' liability to the bank. The Executive committee consisted of J. Allan Coad, J. A. Saunders, and J. J. Norris. Each member was to be paid $3 per meeting. The bank's cash and reserves were $31,300, with checking, savings, and Christmas club at $632,500.
May 2, 1932 Three and half pages of loans. The board authorized the rental of buildings at Miller's Wharf and the Hughes property.
June 6, 1932 Nearly six pages of loans. The board reduced the interest paid on savings accounts from 4% to 3 ½% beginning in July. Stuart Bennett wanted to come back to his position, but not yet. The cashier was to go to Cambridge for a meeting and to close the books for the 1st six months of 1932.
July 5, 1932 Four pages of loans, etc. Cash and reserves=$32,500, cash, saving, and Christmas Club=$637,600. Overdue notes, etc. was around $5,000. Cashier Jones presented the state of the bank, but there were no details. Mr. Wilkinson received two weeks paid vacation, with Stuart Bennett filling in for him.
August 1, 1932 Cash and reserves=$20,000, checking, savings, and Christmas Club=$640,000, overdue notes=$4,046. J. T. Wilkinson resigned, effective September 1. Bennett would return on the same day.
September 6, 1932 Cash and reserves=$56,000, checking, savings, and Christmas club=662,000, overdue notes, $,4,300. Mrs. Love, without being specific, asked for a raise, but no luck. The board decided to take a second mortgage on Greenbrier. Board of Directors meetings would begin at 8 pm.
October 3, 1932 Cash and reserves=$60,000, checking, savings, and Christmas Club=$688,000. Despite the previous agreement, the meeting did not begin until 8:30 pm. Mrs. Love asked for $5 per month raise, but the board said no.
November 7, 1932 Demand notes were to be examined and as many as possible converted to time notes.
December 5, 1932 Cash and reserves=$35,800, checking, savings, and Christmas Club=$670,000. State of the bank was presented, again without details.
January 2, 1933 The State Bank Examiner's report was presented without details. The cashier was directed to fix all deficiencies. The Auditor's report was next. Mrs. Love received her raise. J. J. Norris of the board, was given an extra $1 per meeting for his service as secretary.
March 23, 1933 The Board of Education asked for $7675 loan to pay teachers. The board agreed with a plan for reorganization put together by the parent company in Cambridge. There were no details.
April 24, 1933 No employee may handle cash unless bonded. The next meeting was not until
BANK HOLIDAY
August 21, 1933 There were 21 pages of loans.
New name? County Trust Company of Maryland as a black stamp at the top of p. 94Collection
County Trust Company CollectionLocation
Container
County Trust Collection, Box 3Shelf
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
Briscoe, John H. T.Person or Organization
Burroughs, H. F.Person or Organization
Drury, Joseph B.Person or Organization
Fowler, Zachariah M.Person or Organization
Hayden, Charles V.Person or Organization
Jones, Stephen McKennyPerson or Organization
Love, Catherine M.Person or Organization
Mattingly, William H.Person or Organization
Norris, J. J.Person or Organization
Nuthall, J. G.Person or Organization
Saunders, Joseph A.Person or Organization
Wilkinson, J. G.Person or Organization
Wise, W. H. B.Person or Organization
Coad, J. Allan (Joseph Allan), 1884-1963