{"id":37405,"date":"2017-09-22T10:45:10","date_gmt":"2017-09-22T14:45:10","guid":{"rendered":"http:\/\/staging.pinemountainsettlement.net\/?page_id=37405"},"modified":"2021-07-05T23:25:36","modified_gmt":"2021-07-06T03:25:36","slug":"edward-s-dabney","status":"publish","type":"page","link":"http:\/\/staging.pinemountainsettlement.net\/?page_id=37405","title":{"rendered":"EDWARD S. DABNEY Trustee"},"content":{"rendered":"

Pine Mountain Settlement School<\/strong>
\nSeries 05: Administration – Board of Trustees
\nSeries 09: Biography\u00a0<\/strong><\/p>\n

EDWARD S. DABNEY, Trustee 1945 – 1961<\/h2>\n
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TAGS:<\/strong> Edward S. Dabney; First Security National Bank and Trust\u00a0Company, Lexington, KY; Charles Manning; Board of Trustees, Pine Mountain Settlement School; Harlan County, KY; banking; finances; banking; treasurers; Katherine Pettit; endowments; financial leadership; mergers;<\/p>\n

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Edward S. Dabney became a member of the Pine Mountain Settlement School Board of Trustees in 1945, when Charles N. Manning<\/a>\u00a0retired 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<\/a>, 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.<\/p>\n

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.\u00a0The year before the founding of Pine Mountain Settlement School the financial company had become a member of the\u00a0Federal 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\u00a0<\/span>WWI, the Great<\/span>\u00a0<\/span>Depression\u00a0<\/span>and WWII — no small feat. Many other schools and institutions across the country did not do so well.<\/span><\/p>\n

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Picnic at the Lean To with members of the Board of Trustees of the School. [X_100_workers_2553a_mod.jpg]<\/p><\/div>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 ”\u00a0raised 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.<\/p>\n

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<\/a>> Accessed 2016-09-04]<\/p>\n

According to an article in the Lexington Herald,\u00a0<\/em>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\u00a0mortgage or good collateral.”<\/p>\n

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.<\/p>\n

When Manning, the first Treasurer of the School, died in January of 1947, his memorial in the November Board minutes of that year recalls:<\/p>\n

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\u00a0and 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.<\/em><\/p>\n

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

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Edward S. Dabney, age 21. U.S. Passport Application to visit relatives in Mexico, 1921. [pmss_dabney_photo-1.jpg]<\/p><\/div>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\u00a0transient banking leadership.<\/p>\n

Edward Settle Dabney was born in\u00a0Hopkinsville, 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).<\/span><\/p>\n

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.<\/span><\/p>\n

Edward S. Dabney died\u00a0at age 84 on February 17, 1982, and was buried in the Lexington Cemetery.<\/span><\/p>\n

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See Also:<\/strong><\/p>\n

CHARLES N. MANNING<\/strong><\/a><\/p>\n

GUIDE TO PMSS BOARDS OF TRUSTEES<\/strong><\/a><\/p>\n\n\n\n\n\n
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Title<\/p>\n<\/td>\n

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Edward S. Dabney<\/strong><\/p>\n<\/td>\n<\/tr>\n

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Alt. Title<\/p>\n<\/td>\n

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Edward Dabney<\/p>\n<\/td>\n<\/tr>\n

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Identifier<\/p>\n<\/td>\n

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EDWARD S. DABNEY Trustee<\/a><\/p><\/blockquote>\n