University of Virginia Library

MOYSTON ESTATE

The President reported that under the Will of Roy C. Moyston, the University received a remainderman's interest in a portion of Mr. Moyston's estate which includes natural gas properties at Hobbs, New Mexico, currently owned and operated by Mr. Moyston's widow, Mrs. Vernah S. Moyston, as sole proprietor, doing business as Hobbs Gas Company. Mrs. Moyston also has an interest in the Hobbs properties. It has been suggested that the University might join with Mrs. Moyston in the transfer of the Hobbs properties to a to be formed New Mexico corporation, and to that end the University might convey its remainderman's interest in such properties to the corporation.

After discussion, the Board unanimously approved the adoption of the following resolution:

• RESOLVED by The Rector and Visitors of the University of Virginia that the President and Comptroller be and either of them is hereby authorized to transfer for an appropriate consideration the University's remainderman's interest in properties of the late Roy C. Moyston consisting of natural gas properties of the Hobbs Gas Company at Hobbs, New Mexico.