Yalobusha Historical Society Minutes – June 19, 2008
The Yalobusha Historical Society (our official name) held its monthly meeting June 19 in the Presbyterian Church in Coffeeville. There were 46 members and guests present, representing six counties. One couple, the Carsons, hail from Dallas, TX. It was good to have our Dist. 24 Representative, Dr. Bondurant, with us again. There were several other first-times, and we are excited about the interest being shown in our Society and cordially invite any and everyone to our meetings, which are always at 2:00 p. m. on the third Thursday of the month. The meetings are held in the beautiful sanctuary of the Presbyterian Church, now the home of the Society. The fellowship period following the meeting gives everyone the opportunity to talk with the speaker, exchange genealogical information, and just enjoy the camaraderie. President Mike Worsham welcomed everyone, especially the visitors.
Chaplain John Moorman said the opening prayer. The only business was the report on the updated CONSTITUTION & BY-LAWS and RULES, approved by the Board just prior to the meeting. Committee members Joy Herron, Opal Wright and Betty Miller had met with the Board on June 10, at which time they presented their recommendations on new CONSTITUTION & BY-LAWS and RULES. All Board members were present at the June 10 meeting, as well as today’s meeting, and after going over all aspects of the documents, came up with a revision. Copies of these documents were handed out to members to study before the July meeting, at which time the membership will vote whether to accept the new documents. The Board of Directors is composed of the four Society officers and three elected Board members: Mike Worsham, President; John Moorman, Vice-president; Pat Brooks, Treasurer; Betty Miller, Secretary; Tom Moorman, Joy Herron and Harold Jones.
The Society four 2007 issues of THE PIONEER covered the entire history of Jeff Davis School, from 1920 until its closing in 1958. Extra copies were printed, and the demand has been great for these issues. The cost is $16.00 for the four, or $20.00 if shipped. To place an order, contact Mike Worsham at 662-623-7360, or write YHS, Box 258, Coffeeville, MS 38922. Membership in the Society is $15.00, and four issue of THE PIONEER are included.
Program Chairman Opal Wright, prior to introducing the day’s speaker, Mr. Keith Bloodworth of the Edward Jones Firm in Grenada, stated that the July program will be given by Dr. Harry Owens, retired teacher of Civil War History at Ole Miss after 36 years. He will talk about Capt. Thomas B. Leathers and the steamboat “Natchez.” Dr. Owens was born in Alabama, is married and has two children, both living in Oxford.
The subject of Keith’s program was “The History of the Stock Market,” a subject he covered very capably.Keith joined Edward Jones as a financial advisor in January of 2003, following two extensive careers in retail and wholesale. He has continued his education while at Jones, earning both his AAMS (Accredited Asset Management Specialist) and CRPC (Chartered Retirement Planning Counselor). He is currently vice president of the Grenada Chamber of Commerce and past president of the Charleston Rotary Club. He is currently active in Rotary International, the Exchange Club of Grenada, Kiwanis International and Toastmasters International. He is an Elder in the First Presbyterian Church in Charleston and a Gideon in the Charleston Camp.
Keith’s parents are Marie Bloodworth and the late Brooks Bloodworth of Tallahatchie County.
Keith has been married to his wife, the former Nell Wiggins, for over 30 years. They live near Charleston and have two daughters, Paige and Ashley. Paige is married to Brad McCardle and they live in Laurel. Paige works for the American Cancer Society. Brad and she are the parents of Ieith’s and Nell’s only two grandchildren, Mary Bradley, three years and Brooks, three months. Ashley is married to Ed Bianchi and they live in Memphis. Ashley works for Rhodes College.
The history of the stock market covers a period of over 215 years, back to 1792, when George Washington was President. A group of 24 merchant-brokers met, and because they met under a buttonwood tree, the result of that meeting was called “The Buttonwood Agreement”. It set forth the standard of trading stock: fairness, responsibility and trust. Wall Street, in NYC, the seat of the stock market, goes back even further. The Dutch explorers had claimed lower Manhattan, naming it “New Amsterdam.” They built a wall, 12 feet high, to keep the Indians out, and also the British, who had made their presence felt in the New World. A British survey in 1685 resulted in the area along the wall being named “Wall Street.” Then, the Revolutionary War erupted in the 1770s, resulting in a victory for the 13 colonies who had rebelled against British rule. The fledgeling nation, 80 million dollars in debt, needed a means of raising funds to pay off that debt, and to function as a nation. Treasury Secretary Alexander Hamilton turned to the newly-created organization, the New York Stock and Exchange Board, on Wall Street, of course. Secretary Hamilton took an 80 million dollar bond issue to the Board, to obtain money to pay the war debt. (It is now the New York Stock Exchange) This bond issue was the first actively traded security in the history of the Stock Exchange and was the real beginning of capitalism in the United States. The rest, as they say, is history.
Keith went on to speak of the creation of the Securities and Exchange Commission, the Federal Reserve Board, and other facts associated with this historic financial institution. He told of the “ups and downs” of the stock market through the years and of how the market is affected by national or world events – the Yellow Fever epidemic in the 1800s, the Civil War, the World Wars and other conflicts. He touched on the Great Depression, the Great Flood of 1927, and in later years, hurricanes and oils and gas prices. He displayed graphs showing the rise and fall of trading through the years. He also displayed his sources, as required by the S. E. C. He was very thorough in his presentation, and this account cannot do justice to his wonderful program. We do thank you, Keith, for the effort put fort in bringing this program to us, and invite you to come visit us again, whenever you can.
(NOTE – the Society has received several donations in memory of the late Wayne Harrison Chapman, which are very much appreciated)
ATTENDING: Tom Moorman, John Moorman, Bill and Ruth Upchurch, Opal Wright, Dot Criss, Peggy Boyett, Betty R. Miller, Joy Herron, Joy Tippit, Sarah Williams, Keith Bloodworth, Marie Hardy, Frances Stewart, Mike Worsham, S. W. Bondurant, M.D., Robert and Pat Brooks, Dale and Carolyn Carson, Gilbert Sullivan, Helen Jones, Joe Moorman, Ruth Richmond, Pauline L. Hughes, Yola Bailey, Nan Cottingham, Joyce Williams, Ann G. Weaver Russel, Kathryn Tierce, Martha Short, Bill Adams, Sandra Ebertowski, Sue Fly, Hugh Bill McGuire, Dave Hovey, James Person, Jimmie Pinnix, Carl and Mae Vick, Natalie Kinder, Isabella Kinder, Katrina Kinder, Harlan Kinder, Harold and Lena Jones.
Betty R. Miller