Ser.4 Swarthmore Stock Association, 1888-1954

The Swarthmore Stock Association, also known as the Swarthmore Stock Trust Association, was established in 1887 with the purpose of keeping Swarthmore College under the control and management of members of the Religious Society of Friends in sympathy with the objectives of its founders, and promoting the educational interests of the Society of Friends. All members of this Association were required to be members of the Religious Society Friends, to sign its Constitution, and to contribute to the Association at least twenty shares of the capital stock of Swarthmore College. The Board of Managers were pleased with the establishment of this body and recommended to the stockholders that they donate their stock to this newly established body.

In 1892 at the stated meeting of the Swarthmore Stock Trust Association it was resolved that a committee of three be appointed to co-operate with similar committees from the Board of Managers and the Corporators to propose a plan to amalgamate the Stock Trust Association with the Board of Corporators. At the same time, a similar resolution was passed by the Board of Corporators and a joint committee was formed.

In 1893 at a meeting of the Swarthmore College Stock Trust Association, a report from this newly appointed joint committee recommended that the Stock Trust Association transfer all stock held by them to the Board of Corporators. The Constitution for the Swarthmore College Stock Trust Association was hence amended on March 10, 1896 adopting a new name for the group: The Swarthmore College Trust Association. The old name, however, Swarthmore Stock Trust Association, continues to predominate in the minutes of the group. This group met before meetings of the Stockholders of Swarthmore College to nominate a slate of Quaker candidates to the Board of Managers. As majority holder of the shares of stock in Swarthmore College, this group was able to dominate the nominations of members to the Board of Managers.

On December 22, 1903, the Swarthmore Stock Association was incorporated by the Court of Common Pleas, No. 5, for the County of Philadelphia. The purpose of this group was to receive, hold and execute trusts of property of and for The Swarthmore Stock Trust Association. The surviving Trustees of the property of the Stock Trust Association were directed to assign, transfer and set unto the Corporation all of the stock certificates of the College for the same uses and purposes that were in their names at the time, as Trustees. After 1910, when a change in the College Charter eliminated the stockholders and the stockholders provision and transferred fiduciary responsibilities to the Board of Managers of Swarthmore College, and until its demise in 1924, this body was essentially a fund-raising support group with no governing powers.