Financial Series
Series
Scope and Contents
From the Collection:
The Fay documents consist primarily of financial ledgers which provide detailed accounts of the family and business income and expenses from approximately 1923 to 1960. Some of the ledgers are very detailed, especially the farm accounts from the 1930s and 1940s. Few ledgers exist from this time period, and it is very rare to find the kind of detailed accounting that Fay provides in his financial records. In addition to the farm records, Fay also kept records on two of his businesses: Emerson/Fay (a threshing partnership with a neighbor), and The Rugby Coop Shipping Association (owned by Fay). There are also a few tax documents from 1917-1919 and documents on Fay’s participation in the Federal shelterbelt program. The collection has been organized into two series: Financial and Subject.
The Financial Series is organized chronologically and contains the following: income tax returns for 1917-1919 (John Fay and Frank Fay); financial ledger on the Emerson/Fay partnership, 1923-1943 (see biographical folder for information on Elmer Emerson), farm record books (1935-1938), farm accounts (1934-1944), business accounts for the Rugby Coop. Shipping Association (1944-1960), and shelterbelt documents (1935-1936).
The accounting in the Emerson/Fay ledger includes detailed lists of expenses: repairs and oil, cooking costs, and labor. The entries also indicate that Fay was often paid for his threshing services in cash, but sometimes his neighbors would pay with eggs or labor. There are also entries on livestock, notes payable, insurance coverage, and breeding records.
The farm record books include crop maps, inventory records (horses and machinery), and balance sheets.
In the farm account books, Fay provided detailed accounting of both personal and farm income and expenses. He itemizes such things as gas and oil, groceries, telephone bills, harness snaps, coal, oyster shells, spark plugs, seed grain, repairs, sheep shearing, feed, plow sharpening, taxes, breeding fees, insurance, clothing, allowances for his children, “play day” expenses, church donations, stamps, and Christmas cash. He also includes income such as eggs, cream, livestock, wool, and grain sold.
The business account for the Rugby Coop Shipping Association itemize expenses such as feed and seed, supplies, repairs and maintenance, veterinary and medicine, taxes, gas and oil, automobile upkeep, and labor. The income is itemized as well and includes prices for livestock, grain, cream, and eggs. The ledgers also include inventory records and some family expenses
The Subject Series contains one file on Fay’s participation in the Federal shelterbelt program (1935-1936). There is correspondence with F.E. Cobb, director of the Plains Shelterbelt Project in North Dakota; lease and option contract; easement contract; and an agreement for the rent of Fay’s equipment to prepare land for shelterbelt tree planting. There is also a “Report of Conditions of Hong Farmers Elevator Company” as of May 31, 1919. The notebook appears to have been kept by Mr. Fay’s mother documenting butter, cream and eggs sold in the period 1903 to 1907, although it is not complete for the entire time period. This series also contains two diaries/journals from 1907-1908, math homework circa 1911 and letters dated between 1896 and 1931.
Dates
- 1903-1986
Access
The collection is open under the rules and regulations of the Institute.
Extent
From the Collection: 0.4 Linear Feet (0.4 linear feet)
Language of Materials
From the Collection: English
Creator
- From the Collection: Fay, Francis John, 1889-1967. (Person)
- From the Collection: Rugby Coop Shipping Association (N.D.) (Organization)
- From the Collection: Hong Farmers Elevator Company. (Organization)
Repository Details
Part of the Institute for Regional Studies Repository
Contact:
West Building N
3551 7th Avenue North
Fargo North Dakota 58102 United States
ndsu.archives@ndsu.edu
West Building N
3551 7th Avenue North
Fargo North Dakota 58102 United States
ndsu.archives@ndsu.edu