Board of Visitors minutes March 24, 1933 | ||
A special meeting of the Board of Visitors was held on this day with the Rector,
Fred W. Scott, and Visitors Garnett, Stuart, R. Gray Williams and Munford, and Acting
President Newcomb present.
The minutes of the previous meeting, which had been copied and mailed to the
members, were approved.
Acting President Newcomb stated to the members that his reason for calling them
together at this time was to have their help in formulating plans for presentation of
the needs of the University to the Governor and Budget Committee for their consideration
in connection with the budget recommendations for the biennium 1934-36. The matter was
given general consideration without any formal action being had.
The following announcements were made:
Enrollment to date, 2525.
From Dr. Walter M. Seward, an estate consisting of 3700 acres of land, valued at |
$ 30,000 | |
and securities and cash to the amount of | 277,000 | $307,000 |
to be used by the Forestry Department of the University for "purposes of practical demonstration in the art of forestry". |
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From the estate of Robert Burns Waddy, for the establishment of the ROBERT BURNS WADDY SCHOLARSHIP |
1,961.76 | |
(this gift was originally reported as $5,000, but the above is the amount finally realized.) |
||
From E. R. Squibb and Sons, through the NATIONAL RESEARCH COUNCIL, a fellowship to be awarded for work under Dr. L. F. Small in connection with the work of the Committee on Drug Addiction |
$ 700.00 | |
From the National Research Council, a second grant to Dr. Carl C. Speidel, for the continuation of his study of living nerves |
350.00 | |
$310,011.76 |
From Yale University, an etching of the National Capitol at
Washington, by Louis Orr.
From Mr. T. F. Lorentzen, a student in the University, a gift
of a large electric clock, for the Main Drafting Room, and a
smaller electric clock for the Library of the Fine Arts
Department.
From Mr. William Franklin Willoughby, Director, Institute for
Government Research, Washington, private collection consisting
of 175 books and 697 pamphlets, for the Library of the Bureau of
Public Administration - secured through the efforts of Dr. Rowland
A. Egger, Director of the Bureau of Public Administration.
From Dr. Paul McFarlane, a graduate of the University Medical
School, a gift to the Fine Arts Library of several hundred
photographs of European and American buildings.
From Mrs. Edwin A. Alderman, fifteen hundred books, from the
library of the late Dr. Edwin A. Alderman.
From Mrs. Ida C. Edmond, of Richmond, three small pieces of bronze.
From Miss Eugenia J. Bowne, of Mount Vernon, New York, an etching of
Poe's Cottage at Fordham, to be hung in the Poe Room.
From Mr. Malcolm Stanton, a portion of the musical library of his
father, the late Louis Chalmers Stanton, of Boston, Massachusetts.
From Miss Mary D. Gordon, letter books of her father, Armistead C.
Gordon, containing copies of his letters in re University from
1894 to 1918.
Upon the recommendation of the Acting President a leave of absence was granted
to Dr. James C. Bardin as set forth in the following resolution, adopted:
RESOLVED, by the Rector and Visitors of the University of Virginia,
That leave of absence be granted to Dr. James C. Bardin, of the Department
of Romance Languages, for the remainder of the session, for the restoration
of his health. Dr. Bardin has suffered a nervous breakdown, which necessitates
complete rest for the remainder of this session. This leave of absence will
involve the University in no additional expense.
A request was received from the Zeta Psi fraternity to which the University had
made a loan of $20,000 for the purpose of erecting a chapter house here, for a reduction
in the interest rate of 6% on the said loan. After due consideration, the request was
declined.
An application was received from the Montalto Corporation, the holding company
owning the real estate and all the personal property occupied and used by the Phi Kappa Psi
Fraternity, at the University of Virginia, for a loan of $20,000 to take up maturing notes
on said property. After due consideration the application was declined.
Mr. Newcomb stated that the State Highway Department, in continuing highway #29
northward from Ivy Road, desired to connect up same on a direct line with the road west of
the Memorial Gymnasium, and that in order to do so it would be necessary to remove the
filling station on the north side of said Ivy Road, and that the present owner had agreed
to remove said filling station, provided the University grant him sufficient land on the
east side of the proposed route abutting on the Ivy Road on which to relocate said filling
station. It was therefore
RESOLVED, by the Rector and Visitors of the University of Virginia,
That they concur in a recommendation of the State Highway Department that a
strip of the University's land thirty feet wide, on Route #39, and running out
to nothing at the intersection of the property dedicated for an outlet to the
Ivy Road Cottage Company's property, be conveyed by the Legislature of Virginia
to Miss Carrie Davis for the use of a filling station. The purpose of this is
to enable the State Highway Department to continue Route #29 north on a straight
line with its present location just west of the Memorial Gymnasium.
The Acting President read certain correspondence between Dr. J. C. Flippin, Dean
of the Medical Department, and Governor Pollard with respect to additional funds from the
State to provide medical treatment of the indigent sick which the University Hospital
cannot now care for due to lack of funds. After due consideration, it was
RESOLVED, that if the Governor can provide additional funds for the
care of indigent patients in the University Hospital, conditioned upon a
reduction of 20% in the salaries and wages of the personnel, then the
President is authorized to put such reduction in said salaries and wages
into effect.
Mr. Perkins, attorney for the University, presented a copy of the will of Benjamin
Altschul, of the City of New York, which will was admitted to probate in the Surrogate's
Court for the City of New York, on the 5th day of August, 1932. Under the second clause
of this will, Mr. Altschul gives to the University of Virginia the sum of $5,000.00 upon
condition that the principal be retained intact for a period of twenty-five years from date
of payment thereof, and that during said twenty-five years the income therefrom shall be
used for the purpose for which the University was formed, and after said period of twenty-five
University. Said will contains a further provision that before said legacy is paid the
University shall "through its duly authorized officers signify in writing its consent to
accept such bequest with the condition above named, and such consent to contain an
agreement on the part of such Institution to carry out the condition above named, to use
only the income as above stated, and that in the event that such condition be broken that
the amount of the legacy shall revert back to the Estate and be disposed of as provided
for the disposition of the residuary estate, and such written consent to be filed with
the executors within one year after the issuance of letters testamentary".
By a codicil to said will, Mr. Altschul provides that said bequest shall not be
paid in cash but that it shall be paid in such securities as his Executrix, Mrs. Celia
Altschul, may designate, said securities to be turned over to the University at their
par value.
A copy of said will and codicil was presented to the meeting by Mr. Perkins, and
was ordered filed with the minutes of this meeting:
Mr. Perkins also presented to said meeting a paper prepared by him, expressing the
consent of the Rector and Visitors to the conditions of said bequest, and agreement on its
part to carry out the conditions expressed in the will. He stated that the paper in its
present form has been submitted to and approved by Mr. Joshua Sprayregen, of 1450 Broadway,
New York City, attorney for the Altschul Estate. It was thereupon,
RESOLVED, that the Board doth hereby accept said bequest under the
conditions set out in the will of said Benjamin Altschul, above referred to,
and that we do hereby expressly agree to carry out the condition expressed in
said will, to use only the income as required by said will and in the event
such condition be broken by the University, the amount of said legacy shall
revert back to the estate of the said Benjamin Altschul, to be disposed of in
accordance with the provisions of said will, and in order that the further
provisions of said will may be strictly complied with, the Rector is requested
to execute, in the name and on behalf of the University, the written consent
and agreement presented to this meeting, and the Secretary of this Board is
requested to affix our corporate seal thereto.
The meeting then adjourned.
Rector
Secretary
Board of Visitors minutes March 24, 1933 | ||