EDWARD S. DABNEY

Pine Mountain Settlement School
Series 05: Administration – Board of Trustees
Series 09: Biography 

EDWARD S. DABNEY, Trustee 1945 – 1961


TAGS: Edward S. Dabney; First Security National Bank and Trust Company, Lexington, KY; Charles Manning; Board of Trustees, Pine Mountain Settlement School; Harlan County, KY; banking; finances; banking; treasurers; Katherine Pettit; endowments; financial leadership; mergers;


Edward S. Dabney became a member of the Pine Mountain Settlement School Board of Trustees in 1945, when Charles N. Manning retired from that position. Manning had headed First National Bank and Trust Company and Dabney succeeded him in that position and in the position of Treasurer and financial manager for Pine Mountain Settlement School. Katherine Pettit, the founder of the School, brought Manning and First National to the School at its founding in 1913, and Manning carried the financial responsibilities until 1945. Dabney, chosen as the successor to Manning, carried the leadership of the bank and the financial management of Pine Mountain Settlement School’s endowment until 1961. Between the two men, First Security National Bank and Trust Company had an association of nearly 58 years with the School.

The change in leadership of First National and of the Board of Trustees position from Manning to Dabney in 1945 marked a new era for the Board at the School but continued the long stability in the financial management of the School for another 16 years until the merger of the bank with First Security in 1961. The year before the founding of Pine Mountain Settlement School the financial company had become a member of the Federal Reserve System which brought the company under the supervision of both state and Federal authorities. It was this wise management and other safeguards that allowed the School to weather WWI, the Great Depression and WWII — no small feat. Many other schools and institutions across the country did not do so well.

Picnic at the Lean To with members of the Board of Trustees of the School. [X_100_workers_2553a_mod.jpg]

As President of First National and of Treasurer for Pine Mountain, Dabney, like his predecessor, shepherded the institutions through very tough times, including the Great Depression. During WWII Dabney served the Fayette County War Loan Committee and reportedly ” raised over sixteen million dollars, exceeding every goal …” set for the Committee. With comparable dedication, he and Manning provided the best possible financial guidance for Pine Mountain during the course of their long association.

The Security Trust & Safety Vault Company, called more commonly the Security Trust Company when its name was changed in 1907, was a Lexington financial company founded in 1885. It early on established a strong record in the financial investment field. The Lexington company was “the largest financial institution in Kentucky outside of Louisville and the only trust company in Lexington.” [Lexington History Museum. < http://lexhistory.org/wikilex/security-trust-safety-vault-company-1885-1961> Accessed 2016-09-04]

According to an article in the Lexington Herald, the company was never chartered to be a bank but operated for some customers by offering certificates of deposit for a specified period of time on which it paid interest and received deposits “subject to check.” Loans were available only to those that could be “secured by a mortgage or good collateral.”

Dabney was a regular attendee of the Pine Mountain Settlement School Board and a strong participant in its governance. He also apparently enjoyed the journey into the mountains just as had his predecessor, Charles Manning.

When Manning, the first Treasurer of the School, died in January of 1947, his memorial in the November Board minutes of that year recalls:

Through his wise and careful investment of our funds, his unflagging interest in even the smallest detail of our life at Pine Mountain, the school has been able to grow from its simple beginnings into a field of far-reaching usefulness. A child of the Kentucky mountains himself, Mr. Manning knew the talents, abilities and the sterling qualities of the mountain people. Understanding their lack of opportunity for education, medical facilities, and improved farming methods, he devoted a lifetime of service to their welfare.

The Board takes deep satisfaction in the fact that Mr. E.S. Dabney, Mr. Manning’s successor in the Security Trust Company of Lexington has consented to serve as our treasurer.

Edward S. Dabney, age 21. U.S. Passport Application to visit relatives in Mexico, 1921. [pmss_dabney_photo-1.jpg]

Dabney retained leadership of the Security Trust Company until 1961 at which time he encountered substantial legal challenge regarding the proposed consolidation with First National Bank and Trust Company of Lexington. It was not an easy ending to a long and distinguished career, but one that would be hard to match in today’s transient banking leadership.

Edward Settle Dabney was born in Hopkinsville, Kentucky, on September 13, 1897, to Frank W. Dabney, a “tobacconist,” and Mary Augusta (“Gussie”) Dabney. As of the 1910 U.S. Census, he was the middle child of 4 siblings: Frank W. Dabney, Jr. (age 20), Robert C. (17), Elizabeth (8) and John (6).

According to the 1940 U.S. Census, Dabney and his wife, Edith Railey Dabney (1911-1978), had at least one daughter, Betty Dabney, who was born c. 1932.

Edward S. Dabney died at age 84 on February 17, 1982, and was buried in the Lexington Cemetery.


See Also:

CHARLES N. MANNING

GUIDE TO PMSS BOARDS OF TRUSTEES

Title

Edward S. Dabney

Alt. Title

Edward Dabney

Identifier

EDWARD S. DABNEY

Creator

Pine Mountain Settlement School, Pine Mountain, KY

Alt. Creator

Ann Angel Eberhardt ; Helen Hayes Wykle ;

Subject Keyword

Edward S. Dabney; Charles N. Manning ; Pine Mountain Settlement School ; treasurers ; PMSS Board of Trustees ; Katherine Pettit ; Ethel de Long ; Security Trust Company ; Lexington, KY ; Mrs. J. R. Morton, Samuel M. WIlson ; Elizabeth Hench ; Articles of Incorporation ; General Advisory Board ; Glyn Morris ;

Subject LCSH

Dabney, Edward S., — 13 September 1897 – 17 February 1982.
Manning, Charles N., — 10 May 1875 – 12 January 1947.
Pine Mountain Settlement School (Pine Mountain, Ky.) — History.
Harlan County (Ky.) — History.
Education — Kentucky — Harlan County.
Rural schools — Kentucky — History.
Schools — Appalachian Region, Southern.

Date

2017-09-22

Publisher

Pine Mountain Settlement School, Pine Mountain, KY

Contributor

n/a

Type

Collections ; text ; image ;

Format

Original and copies of documents and correspondence in file folders in filing cabinet.

Source

Series 05: Administration – Board of Trustees ; Series 09: Biography.

Language

English

Relation

Is related to: Pine Mountain Settlement School Collections, Series 05: Administration – Board of Trustees and Series 09: Biography.

Coverage Temporal

1913 – 1947

Coverage Spatial

Pine Mountain, KY ; Harlan County, KY ; Lexington, KY ; Manchester, KY ; Louisville, KY ;

Rights

Any display, publication, or public use must credit the Pine Mountain Settlement School. Copyright retained by the creators of certain items in the collection, or their descendants, as stipulated by United States copyright law.

Donor

n/a

Description

Core documents, correspondence, writings, and administrative papers of Edward S. Dabney ; clippings, photographs, books by or about Edward S. Dabney.

Acquisition

n/d

Citation

“[Identification of Item],” [Collection Name] [Series Number, if applicable]. Pine Mountain Settlement School Institutional Papers. Pine Mountain Settlement School, Pine Mountain, KY.

Processed By

Helen Hayes Wykle ; Ann Angel Eberhardt ;

Last Updated

2017-09-22 hhw ; 2017-09-23 aae ;

Bibliography

Sources

“Edward S. Dabney.” “Series 05: Administration – Board of Trustees and Series 09: Biography. Pine Mountain Settlement School Collections. Pine Mountain Settlement School Institutional Papers. Pine Mountain Settlement School, Pine Mountain, KY. Internet resource.

See: http://law.justia.com/cases/kentucky/court-of-appeals/1963/372-s-w-2d-401-1.html

372 S.W.2d 401 (1963)

SECURITY TRUST COMPANY, a Corporation, ex rel. Dages I. Boyle, Shareholder, Appellant, v. E. S. DABNEY et al., Appellees.

Court of Appeals of Kentucky.

June 21, 1963.
Rehearing Denied December 13, 1963.
*402 Frank S. Ginocchio, Lexington, for appellant.
Stoll, Keenon & Park, Harbison, Kessinger, Lisle & Bush, Lexington, for appellees.
PALMORE, Judge.

On January 10, 1961, pursuant to a resolution theretofore adopted by its board of directors, the shareholders of Security Trust Company, of Lexington, Kentucky, a state banking and trust company under KRS Chapter 287, approved an agreement of consolidation with First National Bank and Trust Company of Lexington. Seven days prior to this action one of Security’s shareholders, D. I. Boyle, acting derivatively (KRS 271.605) for and in the name of Security, brought suit against its officers and directors and against First National, demanding that the agreement and proposed consolidation be adjudged unlawful and the defendant officers and directors of Security be required personally to indemnify plaintiff against a loss of $360,000 (later amended to $660,000) which, through the proposed exchange for shares in the re-organized First Security National Bank and Trust Company of Lexington, allegedly would result to some 12,000 shares of Security’s own stock held by it in its various fiduciary capacities.

“Find A Grave Index,” database, FamilySearch (https://familysearch.org/ark:/61903/1:1:QVKB-LF7S : accessed 23 September 2017), Edward Settle Dabney, 1982; Burial, Lexington, Fayette, Kentucky, United States of America, Lexington Cemetery; citing record ID 58081769, Find a Grave, http://www.findagrave.com. Internet resource.

“United States Census, 1910,” database with images, FamilySearch (https://familysearch.org/ark:/61903/1:1:M28L-KZV : accessed 23 September 2017), Edward S Dabney in household of Frank W Dabney, Hopkinsville Ward 4, Christian, Kentucky, United States; citing enumeration district (ED) ED 3, sheet 10B, family 167, NARA microfilm publication T624 (Washington D.C.: National Archives and Records Administration, 1982), roll 470; FHL microfilm 1,374,483. Internet resource.

“United States Census, 1940,” database with images, FamilySearch (https://familysearch.org/ark:/61903/1:1:K7RL-4VB : accessed 23 September 2017), Edward Dabney, Ward 2, Lexington, Magisterial District 2, Fayette, Kentucky, United States; citing enumeration district (ED) 34-12, sheet 8A, line 3, family 196, Sixteenth Census of the United States, 1940, NARA digital publication T627. Records of the Bureau of the Census, 1790 – 2007, RG 29. Washington, D.C.: National Archives and Records Administration, 2012, roll 1302.

“United States Passport Applications, 1795-1925,” database with images, FamilySearch (https://familysearch.org/ark:/61903/1:1:QVJG-T1B4 : accessed 23 September 2017), Edward Settle Dabney, 1921; citing Passport Application, Texas, United States, source certificate #64471, Passport Applications, January 2, 1906 – March 31, 1925, 1687, NARA microfilm publications M1490 and M1372 (Washington D.C.: National Archives and Records Administration, n.d.); FHL microfilm 1,673. Internet resource.

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