Though the Boston and Albany Railroad was not completed until 1841, and not actually incorporated, as such, until 1867, the idea of a railroad from Boston to Albany was one of the earliest railway projects contemplated in this country.

There is one type of source material for business history to which members of the Society could and should make valuable contributions. This is in the recording of the significant facts concerning the development of their own business concerns. After a man has spent the best years of his life and much of his talent and energy in administering a business enterprise, it would be of great value if he could sit down and, as clearly as possible, describe all sides of every problem which led to the formulation of important decisions, along with the results of the policies based on those decisions.

The business papers of Frederic Tudor, who for half a century was known throughout the country as the Ice King, have recently been deposited in Baker Library by his grandson, also a Frederic Tudor. These business records comprise the story of one of the most unique business enterprises ever undertaken. The material includes account books, letter books, and unbound letters so absorbing in their interest that it is hard to turn away from them.

Along with the records of the general store of Alfred and Andres Lefebvre, which were given to the Society by Charles P. Howland and were mentioned in the May Bulletin, came a smaller group of accounts, those of the Hacienda de San Bartolomé del Monte, located in the Provincia de Tlaxcala, Mexico. This second group, which includes 27 volumes — journals, ledgers, and cash books — covers the period 1869–1905.

Among the collections of business records brought together by the Business Historical Society and Baker Library there is one which is outstanding for its size, its completeness, and for the fact that it represents a longer period of time than any other single collection. This is the Trotter collection, the records of a family of Quaker merchants of Philadelphia.

It is remarkable to see how the items of manuscript material in a particular field, coming in over a period of years and from numerous sources, do, in the final analysis, dovetail together to form one unified collection. The result is like a piece of mosaic. This is the thing which fascinates the collector. Each item alone may seem more or less insignificant, but the whole is more complete because of the least significant part.

Baker Library, with the assistance of the Business Historical Society, has brought together the first systematic collection of business manuscripts. Many libraries and historical societies have accumulated a few business manuscripts incidentally, but their chief interest, thus far, has been biographical source material or source material for political history. This is the first time business history has constituted the object in view.

Somewhat over a year ago the Society received, through the kindness of Mr. Charles P. Howland, Director of Research, Council of Foreign Relations, New York City, a fine collection of Mexican manuscripts. The material falls into two distinct groups—113 volumes, the records of Alfred and Andres Lefebvre, who were engaged in both retail and wholesale trade in Mexico City, and 27 volumes, the records of the Hacienda de San Bartolomé del Monte, Provincia de Tlaxcala, Mexico, which was owned by Don Manuel Fernandez del Castillo y de Mier. This article will concern the records of Alfred and Andres Lefebvre, which cover the years 1863–1900.

Mention has already been made in the Bulletin of the unusual collection of material which has been coming to the Society in the form of anniversary publications which are being put out by various companies. One such publication of special interest was the history of a Belgian company, La Société Cockerill, noted particularly for the manufacture of locomotives and other machinery.

From time to time articles have appeared in the Bulletin indicating the wealth of manuscript material on the textile industry which has been brought together at Baker Library. Not long ago there was discovered, tucked away in a fine collection on the Baltimore and Ohio Railroad, a very small but unique group of manuscripts on the early history of the textile industry. In 1927 the Maryland Historical Society deposited with Baker Library material relating to the building of the Baltimore and Ohio Railroad, known as the Stabler Collection.

Since the founding of the Society there has accumulated in its possession a large number of legal documents. These vary greatly in type and value. Among them may be found deeds, leases, business agreements such as articles of copartnership, etc., apprentice agreements, and wills. As it might be expected, those documents which throw some light on the customs of the people in the wide field of human relations are of the greatest value, and yet it is often difficult to follow a logical and reasonable standard in collecting such material.

America's first ship to enter the port at Canton was the Empress of China, a New York ship; Major Samuel Shaw of Boston was supercargo. Six months out from New York she arrived at Macao on August 23, 1784. Others of the earliest American visitors to China include Captain Robert Gray sailing the Columbia; ship Hope, James Magee, Master; and the Grand Turk of Salem, Ebenezer West, Master.

Dr. Abraham Flexner, a year ago, sought in his general criticism of American education to put the Harvard Graduate School of Business Administration in what he thought to be its true and lowly place, by stating that all the Business School was accomplishing was to short-cut experience. “Exactly,” says the Business School, “that is our aim. We hope to lay a foundation of principles by which the future business administrator may make decisions more keen than a lifetime of trial and error would have made possible.” But the function which Dr. Flexner so minimizes is recognized by the Business School as a colossal task, and the members of the faculty are ever seeking devices to aid them in their work.

In the October number of the Bulletin there appeared a sketch of the life of Albert Dibblee, a California commission merchant, whose business papers have been presented to the Society. A brief sketch of the history of Mr. Dibblee's business, as seen through these papers, was included in the December Bulletin. The actual material in these papers is of such excellent quality that it seemed desirable to indicate its character by printing a few selected transcripts.

For the first time, the American Economic Association, in its recent annual meeting, held in Washington, included on its program a joint session with members of the Business Historical Society. Professor E. L. Bogart of the University of Illinois was chairman of the session, which took the form of a round table conference on the subject, “Private Enterprise in Economic History.” Three of the six speakers at the conference were members of the Business Historical Society.