 | Board of Visitors minutes December 9, 1936 |  |
A Special meeting of the Board of Visitors was held on this date at the residence
of the Rector in Richmond, Va., at which were present the Rector and Visitors Corbitt,
Garnett, Goolrick, Munford, Rinehart, Stuart, L. C. Williams and R. Gray Williams, and
President Newcomb.
The President announced a gift by John Lee Pratt of 300 shares of stock of the
General Motors Securities Corporation for the purpose of purchasing and installing a diesel
engine in the Engineering Building for teaching purposes, and stated that action by the
Board was required to effect surrender of the stock certificate for exchange into common
stock of the General Motors Corporation, including agreement of indemnification required
by the Company on liquidating the said stock. The following motion, duly made and seconded,
was adopted.
RESOLVED, by the Rector and Visitors of the University of Virginia
That J. L. Newcomb, its President, be and he is hereby authorized and
directed to surrender stock certificate No. P-571 for three hundred
shares of "Class A" stock of the General Motors Securities Corporation
for exchange into common stock of the General Motors Corporation.
The President is further authorized and directed to execute all
papers in connection therewith, including the agreement of indemnification
which is required by the Company on liquidation of "Class A" stock of the General
Motors Securities Corporation.
The President stated that he had received a proposition to lease a small parcel
of land, approximately 40 ft × 110 ft, in the rear of the Entrance Building, for the purpose
of erecting a theatre with access thereto throught the central room of the Entrance
Building, at a monthly rental of $100.00, the lease to run for a term of approximately
20 years at the end of which time the said building would become the property of the
University, and that during the term of said lease the University was to have the use of
the theatre two nights in each month free of rent. The Board approved of the proposition
in general, subject to final approval by the President, the Committee on Buildings and
Grounds and the Architectural Commission.
The President stated that the property, formerly occupied by Dean Page, now
occupied by Dean Ferguson, was without a garage, and that Dean Ferguson had requested the
University to erect a garage at a cost of approximately $300.00 for which he would agree
to pay $5.00 per month rent. The Board approved the request.
The President then took up the athletic situation at the University in connection
with membership in the Southern Conference and outlined the course he had pursued to ascertain
from his Faculty Senate and the athletic officials the course to be followed at
the meeting of the Southern Conference on December 11th and 12th, 1936.
Following a very full discussion of the matter, Mr. Goolrick moved, being
seconded by Mr. Garnett,
RESOLVED, That the University resign from the Southern Conference,
and that the statement read by the President, with such amendments as
he may deem proper, be presented as our reason for the action taken.
The foregoing motion was adopted by a vote of 5 to 4, as follows
Ayes. Corbitt, Garnett, Goolrick, Rinehart, and Scott
Noes. Munford, Stuart, L. C. Williams and R. Gray Williams.
The meeting then adjourned.
RECTOR.
SECRETARY.
| Board of Visitors minutes December 9, 1936 | |