Museum: Proposed College Sale in 1903


Selected material relating to the proposed sale of the College in 1903

Summary: See above

Interpretive:
In 1903, the Board of Trustees decided to sell the college due to financial hardships. This decision did not sit well at all with the college’s many alumnae, one of whom was Nannie Lee Smith of the class of 1893. Miss Smith took the lead and was the driving force in raising the necessary $25,000 (primarily in pledges) in thirty days to keep the College open. Several years later, Miss Nannie Lee Smith became the first woman to sit on the College’s Board of Trustees.

Status: Non-Circulating

Notes:
Access to materials relating to the proposed sale of the College in 1903 is available through the Museum. For information regarding reproductions and/or use, please see Terms of Use .

Technical Notes:
The deeds listed below are in the form of PDF files. However, they are not keyword searchable. In order to view the following documents, you must have Adobe Acrobat Reader installed on your PC. If you do not have Acrobat Reader, click here to download it from Adobe.

Depending on individual monitor sizes and resolutions, it may be necessary to use the “zoom” tool in Adobe Acrobat Reader to achieve the cleanest text and easiest to read text.

Technical Specs:
Master images saved as uncompressed TIFF files in either true color (due to the amount of sepia toning) or grayscale at 300 dpi. – unaltered image size. Access images (PDF Files) created using Adobe Capture 3.0: image – exact, true color at either 300 or 150 dpi, JPEG compression – medium quality.

Select An Item:

Item
PDF File Size
Special Notes
Transcription
Documents from the June 1903 meeting of the Stockholders of the Greensboro Female College Association (Note: Paper “A” of this document is missing)
3.05 MB
Not keyword searchable
Yes
Pages 1-4 of five page PDF file – Page 5 is typewritten
Document from the July 1903 meeting of the Directors of the Greensboro Female College Association
851 KB
Not keyword searchable
Yes
Documents from the July 1903 meeting of the Stockholders of the Greensboro Female College Association
850 KB
Not keyword searchable

Yes
Pages 1-2 & 5-6 of PDF file
Pages 3-4 are typewritten

Alumnae proposal to the Western North Carolina Methodist Conference regarding Greensboro Female College – November 11, 1903
1.14 MB
Not keyword searchable
No – Item is mostly typewritten
A bill to be entitled, “An Act to Incorporate Greensboro Female College” – 1903
698 KB
Not keyword searchable
No – Item is typewritten
A bid from the City of Dunn, N.C. for the removal of G.F.C. to that city – 1904
448 KB
Not keyword searchable
No – Item is mostly typewritten

 

Transcription: Documents from the June 1903 meeting of the
Stockholders of the Greensboro Female College Association

(Note: Paper “A” of this document is missing)
Pages 1-4 of five page PDF file – Page 5 is typewritten
Handwritten text only is transcribed.
Handwriting is in blue.

The Stockholders of the G. F. College Assn. Met in called meeting in office Treas. at the College at 3:00 o’clock P.M. June 18, 1903, President W. R. Odell in the chair – The following shares represented in person: J. A. Odell 144 – J. M. Odell 23, W. R. Odell 5, Dred Peacock 12, C. H. Ireland 6, O. W. Carr 1, By Proxy, Mrs. C. L. Gray by R. T. Gray 8, H. W. Lilly, Trustee by J. A. Odell 10, B. N. Duke by J. M. Odell 35, Total Shares represented 244.

On motion of J. M. Odell it was ordered that the College be closed inasmuch as operating expenses so far exceed the income as to render the continuance of the College too burdensome on the few who have to assume the responsibility.

On motion of J. A. Odell the following preamble and resolutions were unanimously adopted: See paper “A.”

On motion of R. T. Gray the following resolution was unanimously adopted: See paper “B.”

On motion of J. M. Odell the following resolution was unanimously adopted – See paper “C.”

There being no further business, the meeting adjourned.


“B”

Resolved that the Directors of the Association are hereby authorized to negotiate a loan of ten thousand dollars from the City-National Bank for the purpose of paying all of the outstanding floating indebtedness of the association and to deposit as collateral security – for the repayment of said loan the three point mortgage made of $100 each now held in the Treasury together with all the accounts and notes receivable belonging to the Association.


“C”

Resolved that the Treasurer be and he is hereby authorized to sell and dispose of all the hogs, cows poultry etc and perishable property belonging to the Association, except the horse used at the College, on the best terms possible and also to take such measures and employ such agents as may be necessary to preserve the property of the association from injury and pillage until the further order of the Association, and further, to obtain and submit to the Association any offers of lease or purchase of the property.

 


 

Transcription: Document from the July 1903 meeting of the
Directors of the Greensboro Female College Association

Handwriting is in blue.

The Directors of Greensboro Female College Association met, all being present, in the Treasurers Office of the College July 1st l903 and passed the following Resolution. (See insertation and record here)

“Resolved by the Directors of the Greensboro Female College Association that in the judgment of the board of Directors it is deemed advisable and most for the benefit of the corporation that the property of the association be sold and that the corporation shall be dissolved, and to that end it is ordered that a meeting of the stockholders be held at 3 o’clock, p. m. on Wednesday, the 5th day of August, 1903, at the office of the Treasurer, at the Greensboro Female College building in Greensboro, N. C., to take action on this resolution; and, further, that the Secretary forthwith give notice of said meeting and of the adoption of this resolution, within ten days from this date by publishing the said resolution with a notice of its adoption in the Telegram newspaper published in Greensboro, N. C., for at least four weeks, once a week, successively, and by mailing a written or printed copy of the same to each and every stockholder of this company in the United States.”

No further business the Directors adjourned.

W R Odell [signature] President
J A Odell [signature] Secry


Transcription: Documents from the July 1903 meeting of the
Stockholders of the Greensboro Female College Association

Pages 1-2 & 5-6 of PDF file – Paper “A” (pages 3-4) is typewritten
Handwriting is in blue.

The Stockholders of the Greensboro Female College Association met in Called Session at the College July 1st 1903 W R Odell President in the Chair. The Secretary was requested to read the Call for the Meeting. The following Shares of Stock were represented.

J. A. Odell l44 shares
W R Odell 5 shares
J M Odell 23 shares
Dred Peacock 12 shares
C H Ireland 6 shares
O W Carr l share
Mrs C L Gray 8 shares Proxy by R T Gra
C W Lilly Trustee l0 shares Proxy by R T Gray
B N Duke 35 shares Proxy by J A Odell

[Total] 244

All the stock was found to be represented except 5 shares held by Mrs. Mary H. Rose.

A Committee from The Alumnae Association of The College presented to the Stockholders the following paper. (See paper marked “A” and record here.

After due consideration the Stockholders made the following reply to the Committee. (See paper marked B and record here)

There being no further business the meeting adjourned.

W.R. Odell [signature] Pres.
J.A. Odell [signature] Secy


Miss Nannie Lee Smith
Secretary of Alumnae Asso. of Greensboro F. College

“B”

The stockholders of Greensboro Female College Association have considered the communication from your committee of the Greensboro Female College Alumnae Association requesting the Directors of the College to name a minimum price at which they will dispose of all the property to the Alumnae Association and grant an option for ninety days at such price, coupled with the promise that the Alumnae Association shall raise a cash endowment of $50,000. in addition to the purchase price, within said 90 days, for a college to be conducted at the present location of G. F. College in Greensboro in the interest and under the auspices of the U Methodist Episcopal Church, South. In reply the stockholders of the Association now present beg to say that under the circumstances now surrounding them, which it is unnecessary to detail, and especially in view of the fact that this meeting is not so constituted as to make or accept a proposition for the sale of the property that would be binding upon every stockholder (whose consent to a sale is necessary) they are unable to grant an option at any price at present.

If, however, your Association can make a definite proposition to purchase the property for cash within a short while, we will gladly endeavor to convene a full meeting of the stockholders to consider the same. But the circumstances are such as to render it imperative to dispose of the property at a very early date, in some way.

Very respectfully,

J A Odell [signature] Secry

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