 | Board of Visitors minutes April 24, 1940 |  |
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.
| Board of Visitors minutes April 24, 1940 | |