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Library
To Sell
Stocks
By SHARON KILPATRICK
Rappahannock News Staff Writer
In a specially called meeting last Wednesday the Library Board again directed the treasurer to sell stocks owned by the library and valued at $7,360. *
Over the years the board acquired the stocks as gifts from individuals.
At the regular meeting in February Treasurer Helen Platt told Library Board members that the stockbroker at Wheat First Securities, where the board had recently opened an account, suggested that the library sell all the small stock holdings except some shares in Exxon. The board voted to accept the broker’s advice, but did not set a specify a time frame.
At a meeting early this month to discuss library policies Mrs. Platt told the board members she had not sold the stock. Some of the members were angry and voted to hold last week’s meeting just on that issue.
At last week’s meeting board member Mary Jamieson submitted a letter noting that between February and the end of May the stocks had increased in value by $652 and had paid $78 in dividends. She said she had to leave the meeting before a vote but said she would favor keeping the stocks.
See Library, Page A-8
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