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Guide to the Wallace Realty Company Records ; Wallace Realty Company Records

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Guide to the Wallace Realty Company Records 1918-1973

Sponsor: Initial processing of this manuscript group was part of a project funded by the National Historical Publications and Records Commission.Funding for encoding this finding aid was provided through a grant awarded by the National Endowment for the Humanities.


Overview of the Collection

Title: Records
Creator: Wallace Realty Company
Dates: 1918-1973
Quantity: 2.5 cubic feet
Abstract:Minute books, stock records and financial records of the company formed to manage the Day family properties in Wallace and elsewhere. Also records of the sale of the Galena Home tracts in Osburn, Idaho.
Identification: MG311
Language: English
Repository: University of Idaho Library Special Collections and Archives
Moscow, ID 83844-2351

Arrangement and Description

The records of the Wallace Realty Company were in no discernible order when received. Therefore a series order was imposed during processing.The first series contains the minutes of meetings held from 1934 to 1973. The second series consists of a stock ledger and journal, 1918 to 1972, and two books of cancelled stock certificates. The third series comprises financial records for the years 1918-1973, and contains voucher registers, transfer binders, a general ledger, monthly or quarterly financial statements from 1936 to 1957, and two appraisements. The transfer binder for contracts receivable also contains employee records for the Tiger Hotel, Wallace Realty, and Osborn Utilities Co. for the years 1941-1944.Wallace Realty owned a portion of land near Osburn, Idaho known as the Galena Home Tracts. The records documenting the sale of this property are arranged alphabetically by purchaser.

Scope and Content

The records of the Wallace Realty Company span the years 1918 to 1973. Included are minute books, stock records, financial records, and records concerning the sale of the Galena Home Tracts in Osburn, Idaho.


Administrative/Biographical History

The Day family, with their various business interests, acquired a good deal of real estate, both commercial and residential. In order to manage these properties the Wallace Realty Company, Jerome Day, president, was incorporated in 1918. Its original capitalization was $110,000 divided into 2,200 shares, par value $50.00.

In 1934 the directors were Jerome Day, president, W.B. Heitfeld, Harry L. Day, F.M. Rothrock, and S.F. Heitfeld. After Jerome's death in 1941, Harry Day was elected president. But when he died a year later, in December 1942, Henry L. Day was elected to that office and remained president until the dissolution of the company in 1973.

Among the properties owned by the corporation in the 1940s were the Day Building in Wallace which housed the Morrow Retail Store on the first floor, and the offices of Day Mines, Inc., Henry L. Day, Lucy Mix Day Trust, and the Abot, Jupiter, Moonlight and Success Mining Companies on the second; the land on which the Silver Star Drive-In Theater was located, the building housing the Morrow store in Mullan, a garage adjoining the Wallace swimming pool, and tracts of land in several subdivisions. In 1948 the company purchased the Reding Building east of the Day Building on Cedar Street, and in 1953 the Castellan residence at 412 Cedar was purchased. In that year the company also began to sell parcels of its Osburn land, and by 1965 all lots in the Gray-Copper tract, plotted in 1956, were sold.

As various acquired properties were sold, the purposes for which the corporation was formed no longer existed. On June 19, 1972, the Day Building was sold to Day Mines, Inc., for DMI treasury stock, and on June 30, the directors, Henry L. Day, Henry D. Ellis, Leonard G. Gaffney, Norval K. Bue, and Dominic Peretti, met to plan for the complete liquidation of the corporation. All remaining property was to be sold and the assets, which consisted of 11,250 shares of Day Mines stock, 28 acres of land in Osburn, furniture and fixtures, and $1,600 rental from the Silver Star Drive-In Theater for the 1973 season, was to be divided among the 14 stockholders, all Day family members. Minutes for the final directors meeting, held May 16, 1973, showed the total liquidation distribution to be $214,692.63 or $102.82 per share.


Subjects

This collection is indexed under the following headings in the online catalog. Researchers desiring materials about related topics, persons, or places should search the catalog using these headings.

City Planning
Idaho

Wallace Realty Company (Wallace, Idaho)

Real property -- Idaho -- Osburn
Real property -- Idaho -- Wallace

Day family

Administrative Information

Source

The records of the Wallace Realty Company are part of the records of Day Mines, Inc., donated to the University of Idaho by Henry Day in 1984 and 1985.


Detailed Description of the Collection

Series I. Records of the Board of Directors and the Stockholders 1934-1973
box-folderbox-folder
1/1-21/1-2Minutes 1934-1973
Series II. Capital Stock Records 1918-1972
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1/31/3Stock ledger and journal 1918-1972
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1/4-51/4-5Cancelled stock certificates 1918-1972
Series III. Financial Records 1918-1973
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1/61/6Annual Statement of Domestic Corporations 1927
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os/7-11os/7-11Voucher registers 1918-1943
box-folderbox-folder
1/121/12Voucher register March 1944-July 1945
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os/13-14os/13-14Voucher registers 1944-1973
box-folderbox-folder
1/151/15General ledger 1951-1972
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1/161/16Transfer binder 1918-1957
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os/17os/17Transfer file, Contracts receivable 1945-1955
box-folderbox-folder
1/18-231/18-23Financial statements 1926-1957
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1/241/24Appraisement, Wallace Realty 1940
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1/251/25Appraisement, Garage 1950
Series IV. Galena Home Tracts 1946-1956
box-folderbox-folder
2/262/26Legal descriptions 1947
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2/27-372/27-37A-Z 1946-1956

Profile Description

Creation: Encoded by ArchProteus2003
Language: Finding aid is in English

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