University of Virginia Library

Major Frederick Waugh Smith notified his brother, Col.
Thomas Smith, and the University of Virginia that he intended
to contest the will on the grounds of the uncertainty of its
provisions, but at the same time he made a proposition of compromise.

At a meeting of the Board of Visitors held on the 12th of
November 1912, the following resolution was adopted:

RESOLVED: THAT the Board accept the proposition made by
Mr. Frederick Waugh Smith, one of the devisees and legatees
under the will of Miss Mary Amelia Smith, viz., that
he will refrain from his proposed proposed attack upon
said will upon condition that the Rector and Visitors of
the University of Virginia surrender in absolute right
the one-half of the estate passing under said will to said
Frederick W. Smith, and that John B. Moon, the attorney
for the University, be authorized to carry this agreement
into effect. By agreement of the parties interested, however,
the provisions of said will may be modified or set
aside in whole or in part with a view to carrying out the
proposed settlement.

Pursuant to the terms of this resolution, a contract
was entered into on the 20th of November 1912, between the
Rector and Visitors, Col. Thomas Smith and Major Frederick
Smith, by which all parties renounced the provisions of the
will and agreed, first, that said will should be admitted
to probate, and that Col. Thomas Smith should qualify
as Administrator with the will annexed, Mr. Eppa Hunton having
declined to act; and, second, that the entire estate
of Miss Smith should be divided into two parts; third,
that one of these parts should be turned over to Major
Frederick Waugh Smith in fee simple; fourth, that the other
half should be held by Col. Thomas Smith in trust, the
income thereof to be used by him during his life, and at
his death the principal thereof to become the absolute
property of the University of Virginia.

In May 1916 I was advised by Mr. J. Donald Richards,
of Warrenton, Va., that Col. Smith had never settled his
accounts as Administrator or as Trustee, and that as attorney

for the bonding company which had become surety upon
Col. Smith's bond he was about to institute proceedings
against Col. Smith for an account.

Upon investigation it was found that owing to his
advanced years Col. Smith had not given any attention to
the management of this fund, and it soon became apparent
that if anything was to be saved for the University it
would be necessary for Col. Smith to be removed and a
new Administrator and Trustee appointed in his place.

At a meeting of the Board of Visitors held on the
12th of June 1916, full authority was given me to take
such action in the matter as in my opinion might be necessary.

Thereupon, on motion of the surety company, acting
with our consent and approval, Col. Smith was removed,
and Mr. Walter H. Robertson of Warrenton appointed in
his place and stead.

The situation was a delicate one in many respects, and
required very careful handling. I found it necessary
to associate Mr. George Latham  Fletcher , of Warrenton,
with me, so that the University might have a representative
in Warrenton.

It was impossible to get any statement from Col.
Smith and it was necessary to file a bill in Fauquier Circuit
Court for the purpose of discovering what the assets of the
estate consisted of.

Among other assets we found $7500.00 worth of bonds
which were secured by deed of trust upon real estate
in the city of Washington. Col. Smith had allowed the
interest to accumulate on these bonds, and when we sold
the property under the deed of trust there was a loss
amounting to $3054.04. Mr. Robertson, as Administrator,
has instituted suit against the maker of these bonds for
the recovery of this deficiency. Conditions are such that
we have little hope of recovery.

Major Frederick Waugh Smith came in and made additional
claims against the estate, all of which I am now advised
have been satisfactorily disposed of.

The total amount of the estate which will be turned
over to the University by Mr. Robertson as Administrator
is between $8500.00 and $9000.00. Of this amount some
$1500.00 in cash was delivered to E. I. Carruthers, Bursar,
on the 25th inst., together with bonds aggregating $4200.00.

The remaining securities will be delivered by Mr. Robertson
within a few days. As shown by Mr. Robertson's
statement filed with Mr. Carruthers, the whole estate
consists of money and securities which can be readily
turned into cash, with the exception of a piece of real
estate in Anniston, Alabama. We are advised that this
lot is worth at least $500.00. Mr. Robertson tells me,
however, that he is reliably informed that if this lot
is properly handled, more than $500.00 may be realized
from it. I will recommend that a resolution be adopted
at this meeting constituting the Rector and the Chairman
of the Executive Committee a special Committee of two,
with full power to sell this property, cae being taken
to phrase the resolution so that authority will also
be given the Rector to convey in case of a sale.

In conclusion I will add that much credit is due
both to Mr. Robertson and to Judge  Fletcher  in saving
for the University such of this estate as now remains,
for I am confident that had it not been for their efforts
practically the whole fund would have been lost.