University of Virginia Library

CATHER ESTATE

The following report was submitted by Mr. W. Allan Perkins, Attorney for the University:

At the meeting of this Board held November 14, 1947, I made a report of my progress in connection
with the estate of the late Rear Admiral David C. Cather, and upon my recommendation the following
resolution was adopted:

RESOLVED that upon payment of $5,148.56, (or of a sum approximately equal thereto) to Vincent
Shea, Bursar of the University of Virginia, by Florida National Bank of Jacksonville, Florida, as
Trustee under Trust Agreement executed by Rear Admiral David C. Cather, July 17, 1928, Henry P. Adair
and W. Allan Perkins, acting as Attorneys for The Rector and Visitors of the University of Virginia,
be and are hereby authorized and directed to execute, in the name and on behalf of said The Rector and
Visitors of the University of Virginia, and to deliver to said Florida National Bank, Trustee as aforesaid,
a receipt for such payment and a release by which said Florida National Bank, Trustee as aforesaid,
shall be acquitted and forever discharged from any further liability or duty to said The Rector
and Visitors of the University of Virginia, arising out of, or that may be incidental to said Trust
Agreement of July 17, 1928.

Before acting under this resolution I reached the conclusion that the terms of the proposed
release were too broad and that our acquittance to the Florida National Bank, Trustee, should be confined
solely to the fund which was in controversy in the chancery cause wherein said Bank is Plaintiff
and Harry Lupton Cather and others are Defendants, now pending in the Circuit Court in and for Duval
County, Florida.

I now ask, therefore, that the resolution of November 14, 1947, above set out be rescinded
and that in place thereof a resolution be adopted in similar terms except that instead of authorizing
a general release of all claims of every sort and however arising, this authorization be limited to a
release only of such rights as the University has in the fund which is the subject of controversy in
the Chancery Cause above referred to.

It was, thereupon -

RESOLVED, That on recommendation of W. Allan Perkins, Attorney for the University, the resolution
adopted by this Board at its meeting held November 14, 1947, authorizing said W. Allan Perkins
and Henry P. Adair of Jacksonville, Florida, to execute and deliver to Florida National Bank of Jacksonville,
Trustee, a general release of all rights of the University under the Cather Trust be and is
hereby revoked and rescinded.

And be it further -

RESOLVED, That upon payment of $5,170.18 to Vincent Shea, Bursar of the University of Virginia,
by The Florida National Bank of Jacksonville, Florida, as Trustee under Trust Agreement executed by
Rear Admiral David C. Cather, July 17, 1928, Henry P. Adair and W. Allan Perkins, acting as Attorneys
for The Rector and Visitors of the University of Virginia, be and are hereby authorized and directed
to execute, in the name and on the behalf of said The Rector and Visitors of the University of Virginia,
and to deliver to the said The Florida National Bank of Jacksonville, Trustee as aforesaid, a receipt
for such payment and a release by which said The Florida National Bank of Jacksonville, Trustee as
aforesaid, and in its own corporate capacity, shall be acquitted and forever discharged from any further
liability or duty to said The Rector and Visitors of the University of Virginia, with respect to
that portion of the aforesaid Trust which is the fund involved in the cause now pending in the Circuit
Court in and for Duval County, Florida, wherein The Florida National Bank of Jacksonville, as Trustee,
is Plaintiff, and Harry Lupton Cather, et al., are Defendants.