Escheator

At that time it was ordered that this matter be left to the President of the University and to Mr. Victor Bryant, Senior, the Escheator General, who died in 1920 and was succeeded by Joseph B. Cheshire, Jr., of Raleigh.

The History of Escheats Blackwell Pierce 1955

Two years later, in April, 1929, Mr. Walter Murphy, reporting from the Escheats Committee, consisting of himself, Mr.W. Lunsford Long, and Mr. Charles Whedbee, recommended to the Executive Committee of the Board the employment on a ten per cent basis of a suitable person to be selected as the Escheator, to secure monies in the office of the clerks of the courts due the University from escheats.

The History of Escheats Blackwell Pierce 1955

On June 12, 1922, Mr. Cheshire reported to the Board that the records he had been able to secure from the estate of the late Victor S. Bryant, the former Escheator, "were very meager."

The History of Escheats Blackwell Pierce 1955

To correct this situation they recommended that the Treasurer of the University be appointed "principal Escheator for the State" and that he be authorized to appoint "a suitable person in each County Escheator for such County."

The History of Escheats Blackwell Pierce 1955

As a matter of fact, Mr. Cheshire appears to have been the first Escheator to go deeply into the problem of unclaimed dividends on stocks of North Carolina corporations -- which was later to be a source of much revenue.

The History of Escheats Blackwell Pierce 1955

Beginning in 1922, however, a renewed interest in escheats was manifested by the Board of Trustees and by Mr. Cheshire, the Escheator General.

The History of Escheats Blackwell Pierce 1955

Also the Escheator would claim only 2% for his trouble on the amount collected by Mr. Grimes -- instead of the usual 5%.

The History of Escheats Blackwell Pierce 1955

The facts of the case were presented to the Executive Committee of the Board of Trustees August 4, 1921, by Joseph B. Cheshire, Jr., the Escheator.

The History of Escheats Blackwell Pierce 1955

After making this final report, Mr. Cheshire resigned as Escheator and received the thanks of the Board of Trustees for his many years of valued service.

The History of Escheats Blackwell Pierce 1955

As a result, the Treasurer became "Principal Escheator, or Escheator-General," at a salary of $1000 per year and county escheators, who were to receive 10% of their receipts as compensation, were appointed for each county.

The History of Escheats Blackwell Pierce 1955