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The Annual Report Library Company of Philadelphia THE ANNUAL REPORT OF THE LIBRARY COMPANY OF PHILADELPHIA FOR THE YEAR 2012 PHILADELPHIA: The Library Company of Philadelphia 1314 Locust Street Philadelphia, Pennsylvania 19107 2013 as of December 31, 2012 President B. Robert DeMento TABLE OF CONTENTS Vice President Howell K. Rosenberg Secretary REPORT OF THE PRESIDENT 4 Helen S. Weary Treasurer REPORT OF THE TREASURER 6 Robert J. Christian Trustees REPORT OF THE DIRECTOR 8 Harry S. Cherken, Jr. Martha Hamilton Morris Robert J. Christian Stephen P. Mullin Nicholas D. Constan, Jr. Howell K. Rosenberg PETER COLLINSON, BENJAMIN FRANKLIN, AND 12 B. Robert DeMento Richard Wood Snowden THE LIBRARY COMPANY Maude de Schauensee Peter Stallybrass Davida T. Deutsch John C. Tuten Autumn Adkins Graves Ignatius C. Wang GIFTS FROM DR. CHARLES E. ROSENBERG 30 Charles B. Landreth Helen S. Weary John F. Meigs Clarence Wolf WOMEN’S HISTORY: READING, WRITING, AND Trustees Emeriti TESTIFYING IN COURT 42 Peter A. Benoliel Elizabeth P. McLean Lois G.Brodsky Susan O. Montgomery Beatrice W. B. Garvan Charles E. Rosenberg AFRICAN AMERICANA 53 William H. Helfand William H. Scheide Roger S. Hillas Carol E. Soltis VICTORIAN COMMERCIAL EPHEMERA 66 Gordon M. Marshall Seymour I. Toll David W. Maxey Michael Zinman 76 Director BENJAMIN BRADLEY BINDINGS John C. Van Horne James N. Green Librarian NEW IN THE PRINT DEPARTMENT 78 Molly D. Roth Development Director Krystal Appiah Reference Librarian and Curator of African Americana Linda August Reference Librarian and Curator of Art & Artifacts SERVICE AND ADMINISTRATION 86 Rachel D’Agostino Curator of Printed Books and Co-Director, Visual Culture Program Alfred Dallasta Chief of Maintenance and Security Erica Armstrong Dunbar Director, Program in African American History APPRECIATION 97 Cornelia S. King Chief of Reference and Curator of Women’s History Cathy Matson Director, Program in Early American Economy and Society Holly A. Phelps Chief of Cataloging THE JAMES RUSH SOCIETY 105 Erika Piola Associate Curator of Prints & Photographs and Co-Director, Visual Culture Program Jennifer W. Rosner Chief of Conservation UBLICATIONS 106 Nicole H. Scalessa Information Technology Manager P Sarah J. Weatherwax Curator of Prints & Photographs Cover: Henry Wadsworth Longfellow. Evangeline, A Tale of Acadie. Sixth Edition. Boston: William D. Ticknor & Company, 1848. See pp. 76-77. On a more somber note, we record the passing early in 2013 of Trust- REPORT OF THE PRESIDENT ee Emeritus and former Assistant Librarian Gordon M. Marshall. While on the staff from 1971 to 1993, he revived the exhibition program and I am pleased and proud to relate that individual contributions, mem- oversaw a major renovation of Library Company’s facilities in 1993. Af- bership support, and foundation support all grew in 2012, and that at the ter nine years of retirement Gordon joined the Board in 2002 and be- close of the year our endowment fund had reached almost $26,000,000. came Emeritus in 2012. He was dedicated to the Library Company and Noteworthy gifts received last year include a William Penn Founda- will be sorely missed. tion grant of $165,000 to support refurbishment of the Library Com- Detailed reports on acquisitions for the year appear in the following pany’s almost-fifty-year-old elevator. Judith Goffman Cutler and -Lau pages—those essays that have been so prized by scholars, librarians, col- rence S. Cutler of the National Museum of American Illustration made lectors, and our members for so many years—but I cannot conclude my a $100,000 contribution in recognition of Beatrice Garvan. Nancy and report for 2012 without offering some reflection on the meaning for this Theodate Coates continued their tradition of providing leadership an- institution of our purchase of Peter Collinson’s copy of Matitland’s His- nual support for facilities initiatives with a generous contribution of tory of London. Collinson played an enormous role in the life and career $100,000. And an anonymous donor gave $75,000 to support the acqui- of Benjamin Franklin and served as the Library Company’s first book sition, conservation, and comprehensive digitization of Peter Collinson’s purchasing agent. extra-illustrated copy of William Maitland’s History of London (1739), It was what Trustee Davida Deutsch characterized as serendipity, discussed at length later in this Annual Report. though, that brought the volume into our collection. John O’Mara of the The institution of term limits for Trustees in 2009 continued to London bookseller Maggs Bros., Ltd., who knew about the connection result in significant transitions for the Board in 2012. While it is hard between Peter Collinson and this institution, happened to see the book to watch dear friends and dedicated champions of the Library Compa- among the wares of another bookseller at the New York Antiquarian ny step down from the Board, it is thrilling to add accomplished new Book Fair in the spring of 2012. He was sure that the Library Company Trustees. In 2012, we had the excellent fortune to welcome Rebecca W. would jump at the chance to own this document of Collinson’s ency- Bushnell, Michael B. Mann, and Randall M. Miller. Rebecca Bushnell is clopedic knowledge and interests. Mr. O’Mara happened to know that School of Arts and Sciences Overseers Professor of English at the Uni- Mrs. Deutsch was a Library Company Trustee; also at the Fair was her versity of Pennsylvania. Michael Mann is a founding partner of Mann fellow Trustee Clarence Wolf, and together they were able to arrange the Mann Jensen Partners LP. Randall Miller is the William Dirk Warren purchase within minutes. This volume is now back in the family thanks ’50 Sesquicentennial Chair and Professor of History at Saint Joseph’s to the quick action of our network of loyal friends, volunteers, and fans University and also serves on the Advisory Council of our Program in who made this connection. African American History. B. Robert DeMento The Board has already benefitted enormously from the experience President and expertise of these newest members. We were additionally pleased to reelect Charles B. Landreth, who chairs our Nominating and Gov- ernance Committee, for a second term. Martha Hamilton Morris and Howell K. Rosenberg, both wise and thoughtful Trustees and generous donors to the institution, reached the limit for their terms of service and were elected Trustees Emeriti. 4 5 REPORT OF THE TREASURER Year Ended December 31, 2012 Unrestricted Temporarily Restricted Permanently Restricted Total REVENUES, GAINS, & OTHER SUPPORT Contributions $ 345,128 $ 45,566 $ 145,743 $ 536,437 Dues 96,693 - - 96,693 Grants 493,751 217,000 - 710,751 Interest & dividends 129,735 - 551,738 681,473 Realized gain on sales of marketable investment securities 197,903 - 837,638 1,035,541 Unrealized gain on marketable investment securities 264,838 - 1,118,525 1,383,363 Library Services 224,498 - - 224,498 1,752,546 262,566 2,653,644 4,668,756 Net assets released from restrictions 1,483,832 (356,189) (1,127,643) - TOTAL REVENUES, GAINS, & OTHER SUPPORT 3,236,378 (93,623) 1,526,001 4,668,756 EXPENSES Program 2,259,916 - - 2,259,916 Management & general 396,840 - - 396,840 Fundraising 227,890 - - 227,890 TOTAL EXPENSES 2,884,646 - - 2,884,646 CHANGE IN NET ASSETS 351,732 (93,623) 1,526,001 1,784,110 NET ASSETS, BEGINNING OF YEAR 9,822,008 2,376,536 21,700,635 33,899,179 NET ASSETS, END OF YEAR $ 10,173,740 $2,282,913 $23,226,636 $35,683,289 The complete financial statements, along with the report of our certified public accountants, are available at the Library Company. Robert J. Christian, Treasurer 6 7 REPORT OF THE DIRECTOR While 2012 was not my last year in the corner office, it will be the last year on which it is my pleasure to report in these pages, as the report for 2013 will be issued by my successor in 2014. Preparing this report has prompted me to reflect on how much has changed since my appoint- ment in 1985. Of course, there are the basic measures of sustained in- stitutional growth: budget, endowment, members, staff, and programs. But that framework has undergirded a coming-of-age that is qualitative as well. The Library Company has grown into its role as a cultural orga- nization—America’s oldest—in whole new ways over these many years, fulfilling BenjaminWorking Franklin’s on basic the understanding of theWorking role of a library on the Working on the in serving theRailroads needs and enhancing the lives of citizens.Railroads Today we offer Railroads a robust array of exhibitions, fellowships, conferences, and lectures that engage scholarsPlease and join the us public for the with our collections and thePlease research join us for con the- Please join us for the 1314 LOCUST STREET LOCUST 1314 PROGRAM IN EARLY AMERICAN ECONOMY AND SOCIETY AND ECONOMY AMERICAN EARLY IN PROGRAM Exhibition Opening Reception Exhibition Opening Reception Exhibition Opening Reception PHILADELPHIA, PA 19107-5698 PHILADELPHIA OF COMPANY LIBRARY ducted in them, all the while building those collections through tightly E D ABOUT THE CONFERENCE CO-SPONSORS ER EU D M N E U S Monday, September 24, 2012 Monday, September 24, 2012This conference is a collaborative effort betweenMonday, the Library September 24, 2012F T O focused acquisitions and maintaining them to the highest standards for R P Company’s Program in Early American Economy and Society C FOREIGN CONFIDENCE: O A M 5:30–7:30 p.m. 5:30–7:30 p.m. (PEAES) and The Rothschild Archive, London. 5:30–7:30 p.m. N M O B U R N E I cataloging and conservation. These myriad activities are described at T International Investment in Program at 6:15 Program at 6:15 PEAES is dedicated to promoting scholarship Programand public at 6:15 understanding of the early American economy, broadly conceived.
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