BOARD OF DIRECTORS MEETING
September 26, 1952
The meeting was called to order by the President, Dr. H.D. Cogswell, at 8: P.M. Members present were:
H.D. Cogswell, President L.E. Beaton
W.R. Manning, Vice President O.J. Farness
W.B. Steen, Secretary-Treasurer Leo J. Kent
E. M. Hayden Donald Lewis
R.W. Rudolph Dennis Bernstein
H.E. Thompson D.E. Engle
Guests present were: Dr. Stuart Sanger and Dr. George L. Dixon.
Dr. Cogswell introduced Dr. Sanger, who stated that he was here on behalf of Dr. Jeremiah Metzger because he could not personally be present. Dr. Sanger said that Dr. Metzger had proposition to offer, that although he is not a philanthropist he wants to give the Medical Society something, namely the house which he owns on North Main Street. This house is nice, has a large lot, and a converted garage at the back of the property which is rented, and the property is now free and clear. Dr. Metzger's idea is that he would mortgage the property for about 1/4 or 1/5 of its value, and deed the entire property to the Medical Society with the understanding that he is to live in it as long as he lives--Mrs. Metzger would not wish to live in it after his death--with the further understanding that the Medical Society will pay the upkeep of the property as long as he lives and the amortization as long as he lives. Dr. Sanger stated that Dr. Metzger is now about 75 years of age.
Dr. Cogswell inquired as to approximately what the upkeep cost would be.
Dr. Sanger said that the ultimate accrual to the Society, were this plan to go through, and Dr. Metzger were to die next year, would be to the extent of from $30,000 to $50,000.00; the expense to the Society would be about $600.00 a year for taxes and insurance and the amortization of the mortgage; if for instance the mortgage were to be fore $15,000.00, it would be on 20 year basis and would amount to very little, and no strings attached at all.
Dr. Cogswell queried whether this building could be remodeled to be used as a meeting place for the Society, should the occasion arise.
Dr. Sanger did not think it would be large enough for this purpose, but said that it is a valuable property and it seemed to him the Society would be getting something for nothing; that there are two rentals and no reason why this does not offer many possibilities.
Dr. Steen remarked that this had been discussed before the Society moved to its present office, and that the Society had then had a chance to rent it for five years; that there is adequate space for parking around this property.
Dr. Bernstein wondered about zoning restrictions and Dr. Sanger did not know about this.
Dr. Cogswell suggested that it might be well to have a committee go into this matter and find out what should be done and how much it would cost to swing it. He thought it very generous of Dr. Metzger.
Dr. Lewis moved that Dr. Cogswell select a committee to look into this property and obtain costs to the Society, etc. Motion seconded by Dr. Bernstein and carried.
Dr. Beaton suggested that Dr. Metzger be written a letter of appreciation.
Dr. Sanger thought this offered many possibilities, that if Dr. Metzger made this gift to the Society, other member might feel obligated or inspired to do something along the same lines. He said that the represents assets which would never go to
