University of Virginia Library

A special meeting of the Board of Visitors was held on this date at 11 o'clock in the office
of the President, with the following members present: The Rector, R. Gray Williams, Visitors Daniel,
Garnett, Goolrick, Miss Randolph, Rinehart and Lewis C. Williams, and President Newcomb.

Minutes of the previous meeting, which had been copied and mailed to the members, were
approved.

The President made the following announcements:

Enrollment for the present session to date 3007.

GIFTS:

             

From the General Education Board for the purchase of library material for use in graduate instruction of students in the Department of Political Science	$ 3,000.00
From the General Education Board to enable the University of Virginia to invite a small group of superior first-year graduates to southern institutions to pursue studies in Agricultural Economics in the school of Rural Social Economics - over a two-year period, beginning July 1, 1940	6,000.00
From the Alumni Fund	519.50
From Dr. Wm. E. Hopkins to be used in aid of the Medical Library	15,000.00
From Ely Lilly & Company for a fellowship for the academic year 1940-41, for research in Chemistry	700.00
From Dr. Hugh H. Young, for research in the Department of Urology	1,800.00
From the General Education Board, for the establishment of a Bureau of Industrial Research, over a period of four years	48,800.00

PROMOTIONS IN THE FACULTY:

Promotions recommended by the President, were approved in the following resolution,
unanimously adopted:

RESOLVED, by the Board of the Rector and Visitors of the University of
Virginia that the following promotions be and they are hereby authorized to become
effective as of July 1, 1940.

                                     

Frederick L. Brown,	Associate Professor to Professor of Physics	$4250 to $4500
Armistead C. Gordon, Jr.,	Associate Professor to Professor of English	4250 to 4500
Arthur Kyle Davis, Jr.,	Associate Professor to Professor of English	4250 to 4500
James Shannon Miller,	Associate Professor to Professor of Electrical Engineering	4250 to 4500
Charles Henderson,	Associate Professor to Professor of Experimental Engineering	4250 to 4500
George T. Starnes,	Associate Professor to Professor of Commerce and Business Administration	4250 to 4500
Dr. Davic C. Wilson,	Associate Professor to Professor of Psychiatry and Neurology	4250
	(No change in salary)
Earl Godfrey Mellor,	Associate Professor to Professor of Romanic Philology	4000 to 4500
Thomas H. Evans,	Assistant Professor to Associate Professor of Civil Engineering	3200 to 3750
Joseph Lee Vaughan,	Assistant Professor to Associate Professor of English in the Department of Engineering	3400 to 3750
Leland B. Snoddy,	Assistant Professor to Associate Professor of Physics	3000 to 3750
Alfred Burger,	Acting Assistant to Assistant Professor of Chemistry	2800
	(No change in salary)
Julio S. Galban,	Instructor to Assistant Professor of Spanish	2300 to 2800
Lawrence Lee,	Instructor to Assistant Professor of French	2000 to 2800
Lawrence R. Quarles,	Instructor to Assistant Professor of Electrical Engineering	2000 to 2800
Matthew Volm,	Instructor to Assistant Professor of German	2300 to 2800
E. R. Slaughter,	Assistant Professor ot Physical Education, transferred from Intercollegiate Athletics to the Department of Physical Education, at the same salary	3000

ELECTIONS TO THE FACULTY:

Upon the recommendation of the President, the following were elected to the faculty:

• Dr. Bernard Mayo, Professor of American History, at a salary of $4,500; tenure
  to begin September 15, 1940.

• E. C. McClintock, Instructor in Engineering for the session of 1940-41 at a
  salary of $2,000; tenure to begin September 15, 1940.

• Dr. Julien R. Beckwith, Instructor in Internal Medicine for the session of
  1940-41, at a salary of $1,800; tenure to begin September 15, 1940.

PLANS FOR UROLOGICAL BUILDING ADDITION:

The President presented plans for the said addition, prepared by Taylor Fisher,
and they were referred to the New Buildings Committee with the power to act. The building
estimated to cost approximately $14,000.

ARCHITECT FOR INTERN BUILDING:

The New Buildings Committee was authorized to employ Taylor & Fisher to prepare
plans for the said building.

COMMON STOCKS AUTHORIZED FOR PURCHASING:

Mr. R. Gray Williams, Chairman of the Finance Committee reported to the Board that
at a meeting of the Committee, held this morning, Mr. James H. Scott submitted a list of common
stocks which he deemed suitable for investing for the endowment funds of the University.
Following a general discussion of the matter, in which Mr. Scott was invited to give his views, the
following action was taken:

RESOLVED, that the common stocks suggested by Mr. James H. Scott for investing
for endowment funds, contained in the list of First Choices, as follows:

• 100 shs American Can Company

• 100 shs Liggett & Myers Tobacco Company

• 400 shs P. Lorillard Company

• 100 shs Philip Morris & Company Ltd.

• 100 shs Proctor & Gamble Company

• 200 shs R. J. Reynolds Tobacco Company "B"

• 200 shs Standard Oil Company of New Jersey

• 200 shs Texas Corporation

• 100 shs United Fruit Company

• 50 shs Guaranty Trust Company

  Subscribe to Montgomery Ward rights and even up to 100 shs New purchase,

together with 100 shs of Phillips Petroleum from the Alternate list, be approved; and that the
Alternate list be approved, subject to the action of the Finance Committee, with purchases therefrom
limited to $50,000, which alternate list is as follows:

• American Cynamid B

• Caterpillar Tractor Co.

• Continental Can

• Continental Oil

• Owens Illinois Glass

• Petroleum

• United States Tobacco.

TRANSFER OF STOCK HELD BY THE PEOPLES NATIONAL BANK TO ITS NOMINEE:

On motion it was

BUDGET OF THE UNIVERSITY FOR 1940-41:

The President presented the budget of the University for the fiscal year and, following
his analyses of the estimated revenues and expenditures, was adopted. The budget carries a total
of estimated revenues from all sources, including State appropriation from the general fund,
$2,941,827, and estimated expenditures of $2,930,443.

On motion the meeting then adjourned.