| | Description: | A special meeting of the Board was held on this date at 8 o'clock P. M.,
with the Rector, Fred W. Scott, and Visitors Buchanan, Carson, Hall, Munford, Rinehart,
Shackelford, Walker and Williams, and Acting President Newcomb, present. The Building Committee wishes to report as follows: Under date of October 28th, 1929, Messrs. Kieffer & Woodward,
Attorneys of 31 Nassau Street, New York City, acting for the Estate of
Thomas F. Ryan, deceased, addressed a letter to Mr. Newcomb, in which
these gentlemen stated that since the provision of paragraph X of
ARTICLE FIRST of Mr. Ryan's will, giving a net income of $3000.00 per
year for the Thomas F. Ryan Scholarships was educational in its nature,
and therefore perpetual, the Trustees under Mr. Ryan's will,
namely— Messrs. William C. Potter and Clendennin J. Ryan, were
anxious to be relieved of the duties of administering the capital
fund from which this income is to be produced, and they have
asked that Mr. Newcomb would consider the advisability of having
The Rector and Visitors of the University of Virginia substituted
as Trustee of said fund in the place and stead of the Trustees named
in said will. |
