University of Virginia Library

University Advancement

Mr. Shannon concluded his
address with a brief survey of the
economic position of the University.
"Much of the University's
advancement the pace of which
has so noticeably quickened in the
past three years is owing to the
progressive leadership of Governor
Godwin and the forward thrust of
the economy and the outlook of
Virginia.

"The permanent private endowment
of the University now stands
at a market value of approximately
$87,000,000" said Mr. Shannon.
This money, apart from state
support, is not all from Virginia, as
"over 80 percent of this endowment
has been given by Alumni
residing outside the Commonwealth."