Minutes of the Meeting of the Board of Directors

Archive

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St. Mary's County Historical Society, Leonardtown, MD

Name/Title

Minutes of the Meeting of the Board of Directors

Entry/Object ID

2014.018.0111

Scope and Content

1 folder ; 11"h x 8 ½"w There are eleven typewritten sheets in a letter-sized folder. Each sheet has three ½" long rectangular punched holes on the left edge. On the left margin, 3" from the top, is stamped "AFA572 in medium blue ink. Each sheet is numbered in the upper right corner/upper left corner in the same color ink, except for the final sheet, which does not have the AFA stamp and is lighter weight paper. January 7, 1952 Minutes of previous directors' meetings were read, as were those of the Executive Committee. Many loans and mortgages were reviewed. The bank examiner's report was read and discussed in detail, as was the home office report on earnings and expenses. Assistant Cashier, Mr. Fenwick, was back at work half time until released by his doctor for full time work. The Board wanted to increase the interest paid on savings accounts from 1% to 2%, but had to get approval of the home office. The janitor had to be let go. Henry Pilkerton would take his place at $60/month. February 11, 1952 The Board considered and approved many, but not all, of the loan and mortgage applications. February 18, 1952 The Board considered and approved most of the loan and mortgage requests. February 25, 1952 The Board considered and approved most of the loan and mortgage requests. March 3, 1952 The Board considered and approved most of the many mortgage requests. There were also requests for installment loans, which were usually for furniture or appliances. March 10, 1952 The Board considered, but did not approve most of the mortgage requests. Loans were more kindly treated. March 17, 1952 Mortgages were still on shaky ground. March 24, 1952 The Board considered and approved all but one of the loan and mortgage requests. March 31, 1952 The Board considered and approved all but three of the loan and mortgage requests. April 7, 1952 This must have been a long meeting, because it took two closely typed pages to report. One man asked for a deferment on his mortgage until his tobacco could be sold. That was approved. Apparently, Mr. Pilkerton did not work out as the janitor, because the former janitor was invited back at a salary of $21/month. The Directors considered closing the bank on Saturday, but did not feel they could do that unless First National Bank also closed. The amount in reserve was $26,800 and cash on hand was $91,750. The checking accounts held $1,330,365 and the savings accounts contained $1,310,741. Overdue notes amounted to $2,473. There was over $946,000 at Cambridge.

Collection

County Trust Company Collection

Archive Items Details

Date(s) of Creation

1952

Location

Container

County Trust Collection, Box 3

Shelf

Rack 12, Shelf 4

Rack

Rack 12

Wall

East wall

Room

Archives 1

Building

Tudor Hall

Relationships

Related Person or Organization

Person or Organization

Curtis, Albert

Person or Organization

Fenwick, Charles Edward (1910-1993)

Person or Organization

Pilkerton, Henry F. (1896-1960)