| | Description: | A special meeting of the Board of Visitors was held on this date at 11 o'clock a.m. in the
office of the President with the following members present; Visitors A. D. Barksdale, C. B. Garnett, Mrs.
J. M. H. Willis, Thomas B. Gay, E. C. Anderson, Mrs. A. O. Calcott, Mrs. Ben Wailes, R. A. Carrington, Jr.
President Newcomb, and President Combs of Mary Washington College. In the absence of the Rector, R.
Gray Williams, Mr. Garnett was elected Rector pro tem. BE IT RESOLVED that interest on all fraternity loans be reduced to 4% as of January 1, 1942, and
in the instance where a fraternity has paid more than 4% in the period from January 1, 1942, to
July 1, 1946, the average above 4% shall be credited upon the principal of the loans of such fraternities.
In addition, there shall be added to all fraternity loans these sums expended by the University of
Virginia for taxes, insurance and repairs, and also sums owed the University for unpaid interest. |
