CROSBY COMPANY:

An Inventory of Its Records at the Minnesota Historical Society

Manuscripts Collection

OVERVIEW


	Creator:	Crosby Company, creator.
	Title:	Crosby Company records.
	Dates:	1891-2008 (bulk 1916-1989).
	Language:	Materials in English.
	Abstract:	Corporate records of the Crosby Company (formerly S.T. McKnight Company), which were holding companies for the assets of Sumner T. McKnight and Franklin M. Crosby family members and descendants. They include a company history, bylaws, minutes, a few Crosby Company annual reports, income tax returns, audit and other financial reports, stock and investment data, property management files, files on holdings of the Weyerhaeuser Timber Company, and records documenting the merger of the Crosby Company (Minnesota) with the Crosby Company (Delaware) and the sale of some of its assets to Crosby & Case.
	Quantity:	4.0 cubic feet (4 boxes).
	Location:	See Detailed Description for shelf locations.

The S.T. McKnight Company was incorporated in Minnesota on October 29, 1903, by Sumner T. McKnight, Sr. and his two sons-in-law, Franklin M. Crosby and George C. Christian. Its name was changed to the Crosby Company in November 1964. Crosby Delaware was incorporated on November 29, 1979 and merged with Crosby Minnesota to become the surviving corporation. Crosby Minnesota sold its real estate management contracts to the newly formed Crosby & Case prior to this merger. Crosby & Case also became investment advisor to Crosby Delaware. In 1986 the Crosby Company's assets were transferred to the Investment Company of America in exchange for ICA voting stock.

At its formation, about one-fourth of the company's assets consisted of real estate holdings, about one-fourth consisted of Weyerhaeuser Company stock, and the remainder comprised other stocks, bonds, mortgages, and miscellaneous assets. Considered speculative when initially purchased, the Weyerhaeuser stock flourished and became the company's single most important holding, and there was a long and close relationship between the McKnight Company and the Weyerhaeuser Timber Company. During the McKnight Company's first 25 years, it also concentrated on acquiring and developing Minneapolis real estate investments, including the McKnight Building, the Produce Bank Building, and the First National-Soo Line Building. Following World War II the company liquidated its real estate holdings, reinvesting largely in common stocks; sold a substantial amount of its Weyerhaeuser stock; invested in oil, gas, and mineral exploration; briefly invested in a project to develop a tract of Carver County land; and remained in the Minneapolis real estate market as a property manager.

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ADMINISTRATIVE INFORMATION

Availability:

The collection is open for research use.

Preferred Citation:

[Indicate the cited item and/or series here]. Crosby Company Records. Minnesota Historical Society.

See the Chicago Manual of Style for additional examples.

Accession Information:

Accession number: 17,194

Processing Information:

Catalog ID number: 008910734

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DETAILED DESCRIPTION


Location	Box
141.D.9.7B	1	Crosby Company history, 1978.


		S.T. McKnight Company bylaws, 1946, 1955, 1963.


		S.T. McKnight Company corporate minutes, 1931-November 1964. 11 folders.
			Minutes of quarterly and special meetings of the board of directors and stockholders; financial reports; occasional other documents being acted upon; shareholder proxies.


		Crosby Company corporate minutes, December 1964-1979. 4 folders.
			Culminating in the December 1979 meeting at which the stockholders approved the merger with the Delaware company and the sale of certain assets to Crosby & Case.


		Agenda materials, Crosby Company meetings, 1973-1975.


		Crosby Company annual reports, 1974-1978.


		Crosby Company articles of incorporation, amendment to Article V, June 7, 1969.


		Crosby Companies merger:
			Documents relating to merger of Crosby Companies, 1979. 1 volume.
			Crosby Company (Delaware) corporate documents, 1979. 1 volume.
Location	Box
141.D.9.8F	2		Change of name information, 1979.
				Mainly lists of stockholders and of the shares owned by each that were surrendered and re-issued upon the merger.
			Corporate reorganization December 31, 1979, First Bank of New Haven, 1979-1982.
			Corporate relocation, Connecticut to Delaware, 1984-1985.


Crosby Company (Delaware):
	Minutes and bylaws, 1983-1985.
	Crosby Company meeting materials, 1982-1986. 4 folders.
		Mainly analyses and discussions of investments and of revisions to bylaws.
	Crosby Company general correspondence, 1983-1986.
	ICA merger, 1986. 3 folders.
		Correspondence, investment analyses, request for IRS ruling, related documents.


Investments:
	S.T. McKnight Company assets, June 1, 1916.
	Brooks-Scanlan Corp. stock, 1924-1944.
		Correspondence and stockholder notices.
	S.T. McKnight Company, Report on Review of Nature and Amounts of Investments, Fourteen Years Ended December 31, 1959, by Touche, Ross, Bailey & Smart, May 17, 1960.
	Stock certificates transfers of the Crosby Company, 1951-2008.
	Crosby Company investment recommendations, 1962-1979. 2 folders.
	Background information and analyses for cost basis of stock owned by stockholders. 4 folders.


Weyerhaeuser Timber Company:
	S.T. McKnight Company - Weyerhaeuser Timber Company holdings, 1903-1967.
		Tabulations, analyses, correspondence.
	Basic Study, Weyerhaeuser Company, by Duff, Anderson & Clark, December 4, 1962.
	Correspondence and miscellany, 1891-1929. 5 folders.
	Audit report, basis of Weyerhaeuser Timber Company stock for federal and Minnesota income tax purposes, December 31, 1945.


Location	Box
141.D.9.9B	3	Audit reports:
			S.T. McKnight Company balance sheet, November 1903.
			S.T. McKnight Company report on accounts, December 31, 1915.
			S.T. McKnight Company audit reports, 1924, 1930-1963. 29 folders.
				Incomplete.
			Crosby Company audit reports, 1964-1986. 23 folders.
				Complete.
			S.T. McKnight Company analyses of surplus, 1937-1945. 5 folders.
			S.T. McKnight Company survey of accounting records and procedures, November 29, 1946.
			Standard Clothing Company survey, 1939.


		Newspaper clippings, McKnight family.


Location	Box
141.D.9.10F	4	S.T. McKnight Company corporation income tax returns, 1909-1945. 12 folders.


		Miscellaneous financial reports, S.T. McKnight Company:
			Capital stock returns, 1916-1944.
			Articles of reduction of stated capital, 1938, 1943.
			Tax basis for stock, 1952, 1955. 3 folders.


		Crosby & Case:
			Corporate documents, 1979.
			Investment advisory agreement, 1979-1985.
			Annual report, 1982.
			Meeting notices, 1985.


		Property management files:
			Appraisals, 7th & Marquette and 8th & Marquette, July 23, 1953.
			Management contract, Farmers & Mechanics Bank Building, 1961-1984. 2 folders.
			Property management agreement, First National Bank, 1955-1984. 3 folders.
			Property management agreement, Soo Line Building, 1957-1984. 2 folders.
			Contract, storage space, Soo Line Building, 1987-1989.

CATALOG HEADINGS

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

Topics:: Holding companies.

Organizations:: S.T. McKnight Company, author.; Weyerhaeuser Timber Company.

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CROSBY COMPANY:

OVERVIEW

HISTORICAL NOTE

ADMINISTRATIVE INFORMATION

DETAILED DESCRIPTION

CATALOG HEADINGS