University of Virginia Library

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A meeting of the Board of Visitors of the Rector and Visitors of the University
of Virginia was held at the home of Mr. Lewis C. Williams in Richmond, Virginia
on Tuesday, June 29, 1937 at 8 p.m.

There were present Messrs. Rinehart, Williams, L. C., Williams, R. Gray,
Garnett, Corbitt, Stuart and Goolrick.

Absent: The Rector, Mrs. Munford, and Mr. Hall.

• 1. The President called the attention of the Board to the resolution adopted at the
  meeting held on June 14th, last, under which he and Mr. Rinehart were authorized
  to negotiate for the sale of the property known as "Pantops" and to enter into a
  contract for the sale thereof at the price of not less than $37,500. gross. He
  stated that after some negotiations he had received an offer of $37,500 cash from
  Mr. James H. Cheek of New York for this real estate, provided there be included
  in the sale two horses, one mule, and three cows, all of which are owned by the
  University and are now on the property, and provided, further, that the straw
  from the wheat when threshed be permitted to remain on the property and pass to the
  purchaser, and that the farm implements needed to harvest the present growing
  crops, lawn mowers, and other tools and machinery be loaned to the purchaser and
  permitted to remain on the property until the crops at present growing on the
  property are harvested.

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  After some discussion it was unanimously

  RESOLVED, that the offer of Mr. James H. Cheek be accepted, and that the Rector
  is hereby authorized and empowered to execute and deliver in the name and on behalf
  of The Rector and Visitors of the University of Virginia a good and sufficient deed
  by which said property shall be conveyed to the purchaser, or such person as he may
  designate, upon the payment of the purchase price therefor, and E. I. Carruthers,
  Secretary of this Board, or J. Rawlings Thomson, Acting Secretary, is hereby
  authorized and empowered to affix the corporate seal and attest the same.

  And the proceeds of such sale shall be held in accordance with the resolution
  of June 14, 1937.

• 2. The President presented a statement giving the names and amount of money appropriated
  to each scholarship holder who had been denied admission by the Board
  during the last year, which statement was approved and the President was instructed
  to present the statement to the Governor, amounting to $9,356.63.

• 3. The President presented a statement of certain urgent financial needs of the University
  of Virginia for the Biennium 1938-1940. This statement was unanimously
  approved by the Board and the President was directed to present this to the Governor
  at a meeting to be held in the Governor's Office Wednesday, June 30th, at 10:30 a.m.

Upon motion the meeting then adjourned.