Records (1938-1953) including correspondence, minutes of stockholders' and directors' meetings, and related documents.
This company was founded in 1875 and was primarily a shipbuilding and boat-building operation. The repair of ships and boats and the sale of marine supplies and related material were other important facets of the business. In 1939 the company was divided into three divisions: Iron Works Division, Mill and Marine Supply Division, and Shipyard Division.
Financial records reflect company activities for the period from 1938 through 1940. Following the parent company's balance sheets and profit and loss statements (1938, Jan. - Mar., 1939), financial records of each division are arranged separately. Mill and Marine Supply Division records consist of monthly statements of income and balance sheets (Mar.-Dec., 1939), summary statements of income (Jan.-Sept., 1940), a statement of income (1940), an expense sheet (1940), and balance sheets (June, Sept., Dec., 1940). Iron works Division records consist of monthly income statements and balance sheets (Mar.-Dec., 1939), summary statements of income (Jan.-Sept., 1940), and balance sheets (June, Sept., 1940). Elizabeth City Shipyard records consist of monthly statements of income and balance sheets (Mar.-Dec., 1939), statements of income (Jan.-Sept., 1940), and balance sheets (June, Sept., 1940).
Additional material includes minutes of stockholders' meetings (Feb. 28, 1939-Dec. 5, 1953) and minutes of directors' meetings (Feb. 28, 1939 - Dec. 30, 1949). The minutes, which are fairly routine in nature, reflect the company's dealings with financial institutions and clients, including the United States government. During World War II,government contracts called for the construction of harbor tugs and submarine chasers for the Navy and aircraft rescue boats and oil barges for the Army. The stockholders' meeting minutes are interspersed with correspondence, proxies, bylaws (Jan., 1942), an annual report (1943), an account of shares (1945), and related documents. Of particular interest are minutes that pertain to the division of the company (Feb. 28, 1939), financial troubles, bankruptcy, and reorganization (Nov. 24, Dec. 5, 1953). Minutes of directors' meetings are interspersed with resolutions, reports, and legal documents. Of particular interest in the minutes is a discussion of the disclosure that the Navy had given the company an ultimatum either to stop work on Army projects or have its Navy contracts canceled (Mar. 6, 1943). This topic is also reflected in a file of correspondence (1943).
Gift of Thorpe Sanders, May 25, 2011
Loaned by Capt. Ernest Sanders, April 29, 1982
Processed by A. Cavenaugh, March 1983
Encoded by Apex Data Services
Literary rights to specific documents are retained by the authors or their descendants in accordance with U.S. copyright law.