University of Virginia Library

JOHN B. CARY CHAIR OF BIBLICAL HISTORY AND LITERATURE

The President reported on his correspondence with the United Christian Missionary Society concerning the desire of that Society to terminate the agreement entered into on 17 December 1908 between the then Christian Woman's Board of Missions and The Rector and Visitors of the University of Virginia, under the terms of which income from an original endowment of $20,000 (subsequently increased to $49,500) was to be used to assist in the support of a chair to be known as the John B. Cary Chair of Biblical History and Literature. After a review of the circumstances surrounding the establishment of the Trust Agreement and the conditions thereof, the President advised the Board that it is his belief that it is in the best interest of the University to agree to the proposal of the Board of Trustees of the United Christian Missionary Society that negotiations be entered into with "The University of Virginia for the express purpose of terminating the agreement and support given by the United Society to the Bible Chair at the university, and to this end the president [of the Christian Missionary Society] is further authorized to execute any and all documents and agreements necessary for the termination of this support."

Accordingly, the following resolution was adopted:

• RESOLVED by The Rector and Visitors of the University of Virginia that the President be and he is hereby authorized to enter into negotiations with the Christian Missionary Society for the purpose of terminating the Trust Agreement between the Christian Woman's Board of Missions and The Rector and Visitors of the University of Virginia, dated 17 December 1908, and, on behalf of The Rector and Visitors of the University of Virginia, to give his assent to that termination.