Overview
During President John R. Cunningham’s tenure, this YMCA Black homeownership initiative attempted to provide insured loans to eligible individuals in the Black Davidson community. Ultimately, the initiative failed. Nine individuals received loans. Remaining fund money was converted to scholarships for Black students.
Individuals involved: John R. Cunningham, D. Grier Martin, Samuel H. Magill, George Staples
Pdf scan of the File: YMCA – Negro Housing Fund (Cunningham Presidential Records), Archives and Special Collections, Davidson College, Davidson, NC.
Individuals involved: John R. Cunningham, D. Grier Martin, Samuel H. Magill, George Staples
Pdf scan of the File: YMCA – Negro Housing Fund (Cunningham Presidential Records), Archives and Special Collections, Davidson College, Davidson, NC.
Transcriptions
Document: D. Grier Martin, memorandum to J. R. Cunningham, December 9, 1953
D. Grier Martin’s memorandum to President Cunningham provides details the fund established for the YMCA homeownership initiative for increasing homeownership among Black Davidson residents.
Subject: Negro Home Ownership Fund of Y.M.C.A.
Following our conversation over the telephone about this subject I was finally able to locate the document prepared and signed by the Y.M.C.A. Cabinet in the fall of 1950 for the establishment of a $5,000 fund to insure loans to negro members of the community who were interested in purchasing homes for their own use.
With this $5,000 plus some indemnity bonds signed by local citizens the bank made loans to 9 negro citizens for the purchase of homes in Davidson. None of these loans has yet been paid off but all of them are being paid satisfactorily except 2.
The resolution of the Y.M.C.A. on this fund provided that it was to be used for this purpose and that the new houses were to be under the supervision of a Citizens Housing Committee. The Y.M.C.A. provided that this sum was to be used for the improvement in the living standards among the negro citizens of the community, after it was released from the guarantee of the house loans.
A Board of Trustees for the fund was established, which included the following members: The Y.M.C.A. Secretary, the President of the Y.M.C.A., the President of the Student Body, Dr. Hartness, and Mr. Frederickson. Successors to the latter two citizens on the Board of Trustees were to be elected by the Board of Control of the Y.M.C.A. (this is now known as the Board of Directors).
It was provided that when and if need for such assistance to the negro community is no longer needed the money is to be transferred to the Y.M.C.A. Cabinet for further improvement in negro activity in Davidson.
In addition to the initial $5,000 investment in government bonds the fund now has a savings account of $666.00 built up from interest received from the bonds.
Since Dr. Hartness is not now a resident of the community it would seem appropriate for the Board of Directors of the Y.M.C.A. to elect another citizen to succeed him on the Board of Trustees of the fund.
Cordially,
Document: J. R. Cunningham, letter to D. Grier Martin, December 11, 1953
President Cunningham replies to Martin’s previous memorandum regarding the YMCA homeownership effort for Black families.
My dear Grier:
I have read your letter on the Negro Home Ownership Fund of the Y.M.C.A. I agree with you that it is appropriate that the Y.M.C.A. Board of Directors should, at an early meeting, elect the members to serve on the Board of Trustees for the established Fund.
I note that if and when there is not further need for such assistance to the Negro community as has been then case thus far, the money is to be transferred to the Y.M.C.A. Cabinet for further improvement in Negro activity in Davidson. It is at this point that I think that Fund impinges upon the purposes of the Gift Fund of this year. Perhaps both Funds can be ultimately merged and used to good advantage.
Sincerely,
J. R. Cunningham
Document: D. Grier Martin, memorandum to J. R. Cunningham, November 29, 1956
D. Grier Martin’s memorandum to President Cunningham provides status update on the initiative designed to increase Black homeownership in Davidson. A copy of original commitment with the original signatories is included.
Subject: Y.M.C.A. Guarantee Fund for Loans for Negro Housing
I am attaching a copy of the commitment made by the Davidson College Y.M.C.A. when it established the fund in early 1951 for the promotion of home ownership among the people of Davidson.
I have been conferring with the bank about this fund for some time and have learned that they are willing to release from the guarantee commitment bonds which have a face value of $6,000 (a market value of about $5,450 at the present time). They will retain $1,345.95 in a savings account until the remainder of the loans are paid or until they have reached a point where they feel they can release this guarantee.
This raises a question of the best use of the money available. The bank does not wish to place any additional loans for negro housing at the present time. This is largely due, I believe, to the tight money market and their present level of investment in this type of loan. I do not believe there will be any enthusiasm on the part of the other lending agencies for a program of this type.
I believe that the intentions of the Y.M.C.A. at the time this fund was raised was clear, that “this fund shall continue to be used to raise the standard of housing among the negro citizens of the town” and that when there is apparently no further need for assistance in this way “the Y.M.C.A. Cabinet will then exercise its judgment in the final disposition of the fund for the further improvement of negro activity in Davidson.”
I would also call your attention to the fact that the Y.M.C.A. Board is empowered to elect successors to the two business men from the town who were appointed to the Board. Since Dr. Hartness no longer lives here it would be appropriate for another person to be elected to serve in his stead.
I am sending a copy of this letter and of the commitment statement to George Staples.
Cordially,
Signed: DGM
Attachment:
COMMITMENT OF THE DAVIDSON COLLEGE Y.M.C.A. GIFT FUND TO THE PROMOTION OF HOME OWNERSHIP AMONG NEGRO CITIZENS OF DAVIDSON.
The Davidson College Y.M.C.A., being interested in the efforts of the citizens of the community in better housing among the negro residents, wishes to share in the financial support of this worthy endeavor. Each year the students of the college, under the guidance of the Y.M.C.A. Cabinet, make a benevolent gift to some good cause, either in this country or abroad. This is known as “The Christmas Gift Fund” inasmuch as this special campaign is launched at the Christmas season.
The Y.M.C.A. Cabinet hereby commits “The Christmas Gift Fund” of 1950-51 to the promotion of home ownership among the negro people of Davidson. For the past two years the students have contributed at least five thousand ($5,000) to this fund. It is the belief and intention of the “Y” Cabinet that the same amount will be raised in the coming year. It is the understanding of the Cabinet that the citizens of the community will join in contributing to this fund also, under the leadership of the Citizens Housing Committee.
It is understood by the Cabinet that the new houses to be built under this plan will be supervised by the Citizens Housing Committee. The Cabinet further understands that the sum which is raised in this campaign will be committed to the supervision of a Board of Trustees. This Board is to consist of the Secretary of the Y.M.C.A., the President of the Y.M.C.A., the President of the Student Body, Dr. J. F. Hartness and Mr. F. W. Frederickson) are to be elected by the Board of Control of the Y.M.C.A.
It shall be the duty of this Board of Trustees to purchase U.S. Government Boards with “The Christmas Gift Fund” and place them in escrow with the bank which lends the money on the houses included in this project. It is the intention of the “Y” Cabinet that this fund shall continue to be used to raise the standard of housing among the negro citizens of the town. When and if the need for such assistance no longer exists in the judgment of the Board of Trustees, the money is to be transferred to the Y.M.C.A. which is then directing the work of the “Y.” This Cabinet will then exercise its judgment in the final disposition of the fund for further improvement of negro activity in Davidson.
Signed:
Neil C. Leach, President of the “Y” Sam B. Joyner
Bryan W. Robinson Donald W. Shriver, Jr.
Watt Jeffries J. Thomas Mann
George H. Cornelson Robert M. Henry
Irving R. Stubbs James N. Murray
John D. Kelton Robert G. Grigsby
Thomas B. Stockton Richard Stockton
Randy Taylor S. Yorke Pharr, Jr.
W. R. Smith III Malcolm McLean
Bill Adams William T. Cassels, Jr.
Eugene D. Morton Robert C. Gay
Thomas A. Langford
Citation
Hilary Green, “YMCA Black Homeownership Program,” hngreenphd.com, 2023. Updated August 5, 2023.
D. Grier Martin’s memorandum to President Cunningham provides details the fund established for the YMCA homeownership initiative for increasing homeownership among Black Davidson residents.
Subject: Negro Home Ownership Fund of Y.M.C.A.
Following our conversation over the telephone about this subject I was finally able to locate the document prepared and signed by the Y.M.C.A. Cabinet in the fall of 1950 for the establishment of a $5,000 fund to insure loans to negro members of the community who were interested in purchasing homes for their own use.
With this $5,000 plus some indemnity bonds signed by local citizens the bank made loans to 9 negro citizens for the purchase of homes in Davidson. None of these loans has yet been paid off but all of them are being paid satisfactorily except 2.
The resolution of the Y.M.C.A. on this fund provided that it was to be used for this purpose and that the new houses were to be under the supervision of a Citizens Housing Committee. The Y.M.C.A. provided that this sum was to be used for the improvement in the living standards among the negro citizens of the community, after it was released from the guarantee of the house loans.
A Board of Trustees for the fund was established, which included the following members: The Y.M.C.A. Secretary, the President of the Y.M.C.A., the President of the Student Body, Dr. Hartness, and Mr. Frederickson. Successors to the latter two citizens on the Board of Trustees were to be elected by the Board of Control of the Y.M.C.A. (this is now known as the Board of Directors).
It was provided that when and if need for such assistance to the negro community is no longer needed the money is to be transferred to the Y.M.C.A. Cabinet for further improvement in negro activity in Davidson.
In addition to the initial $5,000 investment in government bonds the fund now has a savings account of $666.00 built up from interest received from the bonds.
Since Dr. Hartness is not now a resident of the community it would seem appropriate for the Board of Directors of the Y.M.C.A. to elect another citizen to succeed him on the Board of Trustees of the fund.
Cordially,
Document: J. R. Cunningham, letter to D. Grier Martin, December 11, 1953
President Cunningham replies to Martin’s previous memorandum regarding the YMCA homeownership effort for Black families.
My dear Grier:
I have read your letter on the Negro Home Ownership Fund of the Y.M.C.A. I agree with you that it is appropriate that the Y.M.C.A. Board of Directors should, at an early meeting, elect the members to serve on the Board of Trustees for the established Fund.
I note that if and when there is not further need for such assistance to the Negro community as has been then case thus far, the money is to be transferred to the Y.M.C.A. Cabinet for further improvement in Negro activity in Davidson. It is at this point that I think that Fund impinges upon the purposes of the Gift Fund of this year. Perhaps both Funds can be ultimately merged and used to good advantage.
Sincerely,
J. R. Cunningham
Document: D. Grier Martin, memorandum to J. R. Cunningham, November 29, 1956
D. Grier Martin’s memorandum to President Cunningham provides status update on the initiative designed to increase Black homeownership in Davidson. A copy of original commitment with the original signatories is included.
Subject: Y.M.C.A. Guarantee Fund for Loans for Negro Housing
I am attaching a copy of the commitment made by the Davidson College Y.M.C.A. when it established the fund in early 1951 for the promotion of home ownership among the people of Davidson.
I have been conferring with the bank about this fund for some time and have learned that they are willing to release from the guarantee commitment bonds which have a face value of $6,000 (a market value of about $5,450 at the present time). They will retain $1,345.95 in a savings account until the remainder of the loans are paid or until they have reached a point where they feel they can release this guarantee.
This raises a question of the best use of the money available. The bank does not wish to place any additional loans for negro housing at the present time. This is largely due, I believe, to the tight money market and their present level of investment in this type of loan. I do not believe there will be any enthusiasm on the part of the other lending agencies for a program of this type.
I believe that the intentions of the Y.M.C.A. at the time this fund was raised was clear, that “this fund shall continue to be used to raise the standard of housing among the negro citizens of the town” and that when there is apparently no further need for assistance in this way “the Y.M.C.A. Cabinet will then exercise its judgment in the final disposition of the fund for the further improvement of negro activity in Davidson.”
I would also call your attention to the fact that the Y.M.C.A. Board is empowered to elect successors to the two business men from the town who were appointed to the Board. Since Dr. Hartness no longer lives here it would be appropriate for another person to be elected to serve in his stead.
I am sending a copy of this letter and of the commitment statement to George Staples.
Cordially,
Signed: DGM
Attachment:
COMMITMENT OF THE DAVIDSON COLLEGE Y.M.C.A. GIFT FUND TO THE PROMOTION OF HOME OWNERSHIP AMONG NEGRO CITIZENS OF DAVIDSON.
The Davidson College Y.M.C.A., being interested in the efforts of the citizens of the community in better housing among the negro residents, wishes to share in the financial support of this worthy endeavor. Each year the students of the college, under the guidance of the Y.M.C.A. Cabinet, make a benevolent gift to some good cause, either in this country or abroad. This is known as “The Christmas Gift Fund” inasmuch as this special campaign is launched at the Christmas season.
The Y.M.C.A. Cabinet hereby commits “The Christmas Gift Fund” of 1950-51 to the promotion of home ownership among the negro people of Davidson. For the past two years the students have contributed at least five thousand ($5,000) to this fund. It is the belief and intention of the “Y” Cabinet that the same amount will be raised in the coming year. It is the understanding of the Cabinet that the citizens of the community will join in contributing to this fund also, under the leadership of the Citizens Housing Committee.
It is understood by the Cabinet that the new houses to be built under this plan will be supervised by the Citizens Housing Committee. The Cabinet further understands that the sum which is raised in this campaign will be committed to the supervision of a Board of Trustees. This Board is to consist of the Secretary of the Y.M.C.A., the President of the Y.M.C.A., the President of the Student Body, Dr. J. F. Hartness and Mr. F. W. Frederickson) are to be elected by the Board of Control of the Y.M.C.A.
It shall be the duty of this Board of Trustees to purchase U.S. Government Boards with “The Christmas Gift Fund” and place them in escrow with the bank which lends the money on the houses included in this project. It is the intention of the “Y” Cabinet that this fund shall continue to be used to raise the standard of housing among the negro citizens of the town. When and if the need for such assistance no longer exists in the judgment of the Board of Trustees, the money is to be transferred to the Y.M.C.A. which is then directing the work of the “Y.” This Cabinet will then exercise its judgment in the final disposition of the fund for further improvement of negro activity in Davidson.
Signed:
Neil C. Leach, President of the “Y” Sam B. Joyner
Bryan W. Robinson Donald W. Shriver, Jr.
Watt Jeffries J. Thomas Mann
George H. Cornelson Robert M. Henry
Irving R. Stubbs James N. Murray
John D. Kelton Robert G. Grigsby
Thomas B. Stockton Richard Stockton
Randy Taylor S. Yorke Pharr, Jr.
W. R. Smith III Malcolm McLean
Bill Adams William T. Cassels, Jr.
Eugene D. Morton Robert C. Gay
Thomas A. Langford
Citation
Hilary Green, “YMCA Black Homeownership Program,” hngreenphd.com, 2023. Updated August 5, 2023.