University of Virginia Library

RALEIGH C. MINOR SCHOLARSHIP

The President reported that shortly after the death of Professor Raleigh C. Minor in 1923, a
group of his friends established a trust in The Peoples National Bank of Charlottesville, Virginia.
The trust instrument provides that the income from the trust be paid to the widow of Professor
Raleigh Colston Minor so long as she lives and to her estate six months after her death. The immediate
concern of the donors was to be of aid to Mrs. Minor. Consequently, the trust instrument defines
income quite broadly as including any stock dividends and any profits derived from the sale of securities
in investing and reinvesting the fund. The instrument provides further that any loss shall
not be charged against the income of the life tenant. The Trustee is given absolute discretion in
making investments and reinvestments.

The trust instrument further provides that six months after the death of Mrs. Raleigh C. Minor,
the whole of the principal of the fund then in the hands of the Trustee, shall be delivered by the
Trustee to The Rector and Visitors of the University of Virginia, and that the fund then be used by
The Rector and Visitors in the establishment of a memorial to John B. Minor and his son, Raleigh C.
Minor. The trust instrument specifies that memorial or memorials are to be of "such character as the
said Rector and Visitors of the University of Virginia may deem appropriate, it being distinctly understood
that no restrictions of any kind are placed upon said Rector and Visitors of the University of
Virginia in this respect."

The President further reported that consultations with Mrs. Minor's two children, Charles Venable
Minor and Mrs. Walter Klingman, indicated that each of them was strongly in favor of establishing a
scholarship in the School of Law of the University of Virginia to be known as the Raleigh C. Minor
Scholarship.

The President proposed and the Board adopted the following resolution

WHEREAS, on the death of Professor Raleigh C. Minor in 1923 certain of his friends established as
a memorial, a trust in The Peoples National Bank of Charlottesville, Virginia, to be administered by the
bank as Trustee, the income to be paid to the widow of Professor Raleigh C. Minor for her life and to her
estate for six months after her death, and thereafter "the whole of the principal of said fund then in
the hands of said Trustee shall be turned over and delivered by said Trustee to The Rector and Visitors
of the University of Virginia, and said fund shall be used by said Rector and Visitors of the University
of Virginia in establishment of a memorial or memorials to the said John Barbee Minor and the said Raleigh
Colston Minor, the said memorial or memorials to be of such character as the said Rector and Visitors of
the University of Virginia may deem appropriate, it being distinctly understood that no restrictions of
any kind are placed upon said Rector and Visitors of the University of Virginia in this respect",

AND WHEREAS Mrs. Raleigh Colston Minor died on 11 November 1961,

NOW, THEREFORE BE IT RESOLVED by the Board of Visitors of The Rector and Visitors of the University
of Virginia that at the expiration of the six months period from the death of Mrs. Raleigh C. Minor, the
whole of the principal of the fund in the hands of the Trustee shall be delivered by the said Trustee to
the Comptroller of the University of Virginia to be placed in the general endowment fund of the University
of Virginia to be held, managed, invested, and reinvested as a part of that fund, and the pro rata share
of the income of that fund allocable to the Minor Memorial Trust shall be made available as of 1 September
of each year, for a scholarship or scholarships in the School of Law of the University of Virginia to be
known as the Raleigh C. Minor Scholarship or Scholarships. The awards shall be made as directed by the
Law Faculty to students of high character and ability and in such amount of the income of the fund as the
Law Faculty shall determine.