 | Board of Visitors minutes April 16, 1924 |  |
A Special Meeting of the Rector and Visitors was held
on this date with Rector, C. Harding Walker; Visitors H. D.
Dillard, M. Carter Hall, D. D. Hull, Jr., Harris Hart, Paul
G. McIntire, Hollis Rinehart, Fred W. Scott and Lewis G.
Williams, and President Alderman present.
Visitors Hall, Hull, Rinehart and Scott, appointed by
His Excellency, Governor Trinkle, for the term ending February
29, 1928, presented the required certificates of qualifications.
Minutes of the meeting of February 19th, having been
copied and sent to the several members for examination were
approved:
The President's docket was taken up and the following matters
presented.
| Enrollment for the session | 1875 |
| Enrollment Summer Quarter 1923 | 2591 |
| Enrollment Nurses in Training | 74 |
| Extension Courses (1923) | 549 |
| TOTAL | 5089 |
The President was authorized to prepare resolutions of
thanks for the following donations:
From Rev. Julian E. Ingle, of Raleigh, N. C., $500
Liberty Bond.
From the Seven Society of the University $177.77 in
memory of James McConnell to be used in beautifying the
plot on which the McConnell statue stands.
The resignation of Professor Graham Edgar was received
and the following resolution adopted:
RESOLVED, THAT the Rector and Visitors of the University
of Virginia accept with regret the resignation of
Dr. Graham Edgar, Professor of Chemistry. Dr. Edgar
has carried forward his work with devotion and skill at
this University, and the Rector and Visitors wish him
The following action was taken with respect to the
election of members of the faculty for the coming session,
and for the position of Superintendent of the Hospital;
RESOLVED, By the Rector and Visitors of the University
of Virginia, THAT Dr. John A. Hornsby be and is
hereby elected Superintendent of the University Hospital,
at a salary of $5,000, incumbency to begin as
soon as Dr. Hornsby can report for duty.
RESOLVED, By the Rector and Visitors of the University
of Virginia, That Mr. Robert Kent Gooch be and is
hereby elected Associate Professor of Political Science
in the University of Virginia, at a salary of $3,000,
incumbency to begin with the session of 1924-25.
RESOLVED, By the Rector and Visitors of the University
of Virginia, That Mr. Alfred B. Hastings be and is
hereby elected Associate Professor of Forestry in the
University of Virginia, at a salary of $500, incumbency
to begin with the session of 1924-25.
RESOLVED, By the Rector and Visitors of the University
of Virginia, That Dr. Bruce D. Reynolds be and is
hereby elected Assistant Professor of Zoology in the
University of Virginia, at a salary of $2,500, incumbency
to begin with the session of 1924-25.
RESOLVED, By the Rector and Visitors of the University
of Virginia, That F. Stringfellow Barr be and is
hereby elected Assistant Professor of History in the
University of Virginia, at a salary of $2,500, incumbency
to begin with the session of 1924-25.
RESOLVED, By the Rector and Visitors of the University
of Virginia, That Mr. Paul Otto be and is hereby
elected Assistant Professor of Physical Education in the
University of Virginia, at a salary of $1,000 per year
and free tuition in the Medical Department, incumbency to
begin with the session, 1924-25.
The following action was taken with respect to promotions
in the faculty:
RESOLVED, By the Rector and Visitors of the University
of Virginia, That the following promotions in the
faculty be made to take effect with the session of 1924-25.
Chapin Jones, B. A., M. F.
Associate Professor to Professor of Forestry.
Tipton Ray Snavely, M. A., Ph. D.
Associate Professor to Professor of Economics.
Robert Norton Pease, B. S., Ph. D.
Assistant Professor to Associate Professor of Chemistry.
William Sumner Appleton Pott, M. A., Ph. D.
Assistant Professor to Associate Professor of
Philosophy.
Frederick Dean Goodwin Ribble, M. A., LL. B.
Acting Assistant Professor to Associate Professor
of Law.
Dudley Crawford Smith, B. S., M. D.
Instructor to Assistant Professor of Medicine.
Allen Fiske Voshell, B. A., M. D.
Instructor to Assistant Professor of Medicine.
Arthur Kyle Davis, Jr., M. S., B. Litt.
Instructor to Assistant Professor of English.
RESOLVED, By the Rector and Visitors of the University
of Virginia, That the following Instructors be
appointed for the session of 1924-25.
Willard Greenberry Rainey, M. D.,
Instructor in Pathology, salary, $2,000.
Howard W. Angell, M. D.,
Instructor in Physiology and Biochemistry,
salary, $2,000.
William F. Stinespring,
Instructor in Music.
RESOLVED, By the Rector and Visitors of the University
of Virginia, That the following appropriations be
made:
| For grates in furnace at the President's house | $125.83 |
| For Cornell-Virginia Debate | 75.00 |
| For Graduate House, additional | 100.00 |
| For Equipment of School of Music | 50.00 |
The Chairman of the Finance Committee, Fred W. Scott, to
whom had been referred the matter of contract with the Virginia
Trust Company for the care of securities belonging to
the several trust funds now held by it, presented the proposed
contract which was read and the following action
taken;
RESOLVED, That the contract between the University
of Virginia and the Virginia Trust Company for the care
of securities, as presented by the Chairman of the
Finance Committee, be and the same is hereby approved,
and that the Rector and Secretary be and are hereby
authorized to execute same on behalf of the Rector and
Visitors;
CONTRACT OF THE VIRGINIA TRUST COMPANY FOR THE CARE OF SECURITIES
THIS AGREEMENT, Made and executed in duplicate this 10th
day of January, 1924, by and between the Rector and Visitors
of the University, of Virginia, parties of the first part,
and hereinafter for convenience referred to as the "Board,"
and Virginia Trust Company, a corporation organized and
existing under the laws of the State of Virginia, with its
office located at Richmond, Virginia, and hereinafter for
convenience referred to as the "Trust Company," party of the
second part.
WITNESSETH:
That the parties of the first part hold title to and
are administering various scholarship funds and other investments
which have been heretofore segregated and which are designated
as follows:
Albemarle Chapter D. A. R. Scholarship Fund,
Lewis Bennett Law Scholarship Fund,
Thomas Pinkney Bryan Fund,
Kate Cabell Cox Fund,
Henry Coalter Cabell Fund,
Herndon Scholarship Fund,
Elizabeth Garrett Fund,
E. W. James Fund,
Rogers Bequest Fund,
Sachs Fund,
Senff Fund,
School of Business and Commerce Fund,
Sinking Fund,
Skinner Fund,
Phelps Stokes Fund,
Valentine Birely Fund,
White Law Memorial Fund,
Corcoran Endowment Fund,
Madison Library Fund,
J. Y. Mason Fund,
Linden Kent Fund,
Alfred Henry Byrd Fund,
D'Arcy Library Fund,
John W. Scott Fund,
Leander McCormick Observatory,
Isabel Merrick Sampson Scholarship Fund,
Lambert Tree Bequest Fund,
Robert L. Parrish Bequest Fund,
Bryan Medal Fund,
R. H. Whitehead Memorial Scholarship Fund.
That heretofore, by due authority, said funds were
deposited with the party of the second part a a measure to
insure their safe keeping and proper handling, but that no
formal agreement or contract has ever been entered into
setting forth the duties or responsibilities of the parties
hereto.
That, therefore, in order to ratify and confirm all that
has heretofore been done in connection with the administration
of the funds by the Board through the said Trust Company as
its Agent and Custodian, and, further, to insure to the
Board the full measure of protection to which it is entitled,
by having the said Trust Company formally, by these presents,
acknowledge its duties and responsibilities, it is hereby
mutually understood and agreed between the parties hereto as
follows:
FIRST: The said Trust Company agrees to hold the securities
belonging to said funds safely in its vaults, as well as the
securities belonging to any similar funds which may hereafter
be turned over to it, to collect the income therefrom and
to pay over the same quarterly, on the 10th day of January,
April, July and October of each year, to the Bursar of the
University of Virginia.
SECOND: Said Trust Company shall have no authority to sell,
purchase or vary any investment or investments of the principal
funds held hereunder except upon the written order or direction
of the said Board, its Finance Committee or the Chairman of
said Finance Committee, and the said Trust Company agrees to
deal with said principal funds in accordance with directions
thus given it.
The said Trust Company agrees to pay interest at the rate
of three percent per annum on all uninvested principal balances,
as well as on all income balances, such interest to be
as hereinbefore indicated.
THIRD: The said Trust Company agrees to submit to the
Bursar of the University Virginia, accompanying the quarterly
income checks, statement in detail of all income then disbursed.
And, further, the said Company agrees to render to the Bursar,
or to such other party as the Board may select, an annual
statement of the principal account of each fund, together
with a list in detail of the investments held for such fund.
FOURTH: As compensation for its services, the Trust
Company shall receive an annual fee based upon the par or
face value of the securities in accordance with the following
schedule:
Face value of $100,000.00 or less, $1.00 per $1,000.00.
From $101,000.00 to $250,000.00, inclusive, $.90 per $1,000.00.
From $251,000.00 to $500,000.00, inclusive, $.75 per $1,000.00.
From $501,000.00 to $1,000,000.00, inclusive, $.60 per $1,000.00.
For all securities in excess of $1,000,000.00, $.50 per
$1,000.00.
Such compensation shall be payable on the 10th of
January of each year, and shall cover the preceding year
rather than to be payable in advance.
In calculating such compensation the average amount of
securities held shall be the basis of such calculation, and
in determining the average the face value of securities as
of the 10th of each month shall be the figure to be used for
such month.
FIFTH: It is understood and agreed that this agreement
is to remain in full force until terminated by either party
hereto, of which contemplated termination at least one
month's previous notice shall be given in writing by the
party desiring so to terminate the agreement: And in the event
of such termination, then all cash and securities held by the
Trust Company shall be accounted for by it and delivered to such
party or parties as the Board may direct, and upon such delivery
all obligations hereunder shall cease and determine.
IN WITNESS WHEREOF, the parties hereto have hereunto caused
their respective names to be signed by their respective Presidents
and their corporate seals to be hereunto affixed
and duly attested by their respective Secretaries, the day
and year first hereinbefore written.
RECTOR AND VISITORS OF THE
UNIVERSITY OF VIRGINIA.
ATTEST:
E. I. Carruthers,
Secretary
BY C. Harding Walker,
Rector.
ATTEST:
VIRGINIA TRUST COMPANY,
L. D. Aylett,
Secretary
By H. W. Jackson,
President.
The Bursar stated that Mrs. W. V. Nance, lessee of the
Tea Room in the Entrance Building, desired to renew her
lease for a term of three years from June 1, 1924, upon
the same terms and conditions as now existing, which, upon
motion, was approved in the following resolution, and adopted;
RESOLVED, That the lease of the Tea Room in the
Entrance Building now occupied by Mrs. W. V. Nance,
be extended for a term of three years upon the same
terms and conditions as those now prevailing, and the
Rector and Secretary be and they are hereby authorized
to execute same on behalf of the Rector and Visitors.
The Bursar presented report of the appropriations and contracts
for the erection of the Memorial Gymnasium, as follows:
| Contracts and appropriations to date | $327,627.11 |
| Donations and other funds for erection | 287,928.61 |
| Balance needed to complete | $ 39,698.50 |
The connection with the foregoing, the President announced
that the Alumni Board of Trustees of the University Endowment
Funds, at a meeting on the 15th inst., had appropriated from
the Centennial Endowment Fund the sum of $40,000 to complete
the buildings.
The Bursar presented a report of the appropriations and
contracts for the erection of the McIntire Wing of the University
Hospital, as follows:
| W. P. Thurston Co.'s contract for erection | $115,255.00 | |
| Architect's fees for plans and supervision | 3,439.75 | |
| TOTAL COST | $118,694.75 | |
| BUILDING FUNDS: | ||
| Paul G. McIntire Donation | $ 50,000.00 | |
| Interest on same while on deposit in bank | 2,859.45 | |
| Seven Society Donation | 77.77 | |
| Amount allocated from Payne Donation by President Alderman $25,000. Liberty Bonds sold for |
$24,563.38 | |
| TOTAL FUND | 77,500.00 | |
| Loan made by Alumni Board of Trustees at 6% per annum |
40,000.00 | $117,500.0 |
| Amount needed to complete | 1,194.1 |
In view of the fact that there remain to be done several
small items of work necessary to complete the wing, it was
deemed expedient to ask for a further appropriation of $1,500,
and the President stated that the said appropriation has been
made by the Alumni Board of Trustees, which desired that
the Board of Visitors execute a certificate of indebtedness
to represent the loan of $41,500 made by it for the said
purpose, whereupon the following motion, duly made and seconded,
was adopted;
WHEREAS the Alumni Board of Trustees of the University
of Virginia Endowment Fund has loaned the University
the sum of $41,500 from the Centennial Endowment Fund for
the purpose of completing the Orthepedic Wing of the
University Hospital for which loan it has been agreed that
a certificate of debt be issued bearing interest at the
rate of 6% per annum payable semi-annually, therefore be it
RESOLVED, THAT a certificate of debt in the following
form be issued to the Alumni Board of Trustees of the University
of Virginia Endowment Fund, and that the Rector and Secretary
be, and are hereby, authorized to execute same on
behalf of the Rector and Visitors:
HOSPITAL WING LOAN:
This is to certify that THE RECTOR AND VISITORS OF THE
UNIVERSITY OF VIRGINIA, a corporation under the laws
of the State of Virginia, is indebted to the Alumni Board
of Trustees of the University of Virginia Endowment Fund
in the sum of
FORTY-ONE THOUSAND FIVE HUNDRED DOLLARS ($41,500.).
payable six months after date when payment thereof shall
be demanded in writing by the said Alumni Board of Trustees
of the University Endowment Fund.
This obligation is to bear interest at the rate of six
per centum per annum, payable semi-annually on the
In witness thereof THE RECTOR AND VISITORS OF THE
UNIVERSITY OF VIRGINIA have caused this certificate of
indebtedness to be executed for it and in its corporate
name by its Rector, and caused its corporate seal to be
hereto affixed and attested by its Secretary, this 1st
day of April, 1924.
UNIVERSITY OF VIRGINIA.
RECTOR.
E. I. Carruthers,
SECRETARY.
On motion duly made and seconded, the following resolutions
were adopted.-
WHEREAS, The GENERAL ASSEMBLY has appropriated
$15,000, for equipment for the Orthopedic Wing of the
University Hospital, $15,000 for equipment of the Memorial
Gymnasium, and $15,000 to build and equip a laundry
for the Hospital, all of which appropriations were made
payable during the second year of the biennium 1924-26,
and
WHEREAS it is deemed desirable and expedient that the
aforesaid improvements go forward immediately, therefore
be it,
RESOLVED, THAT the President be and is hereby authorized
to proceed with the aforesaid improvements, appropriations
for which have been made in the budget adopted
at the meeting, and that in order to finance the respective
improvements in anticipation of the appropriations
made by the State, the Bursar is authorized to borrow from
the local depositories such sums as may be needed from time
to time.
The Bursar was given authority to borrow from the local
banks to meet current needs in anticipation of current income
from the following motion, duly made and seconded, being unanimously
adopted,
RESOLVED, by the Rector and Visitors of the University
of Virginia, THAT, in order to provide necessary
meeting its pay roll and for other current demands,
the Bursar be and is hereby authorized to borrow such
sums from time to time as may be necessary, in anticipation
of income to be received from endowments, student
payments and other sources, and such loans as he may
have outstanding from time to time shall be reported to
this Board.
Upon the recommendation of the President the Southern
Woman's Educational Alliance was granted a scholarship for
the session of 1924-25 in the department of Medicine,
with remission of tuition fee ($160), and the same was conferred
on Miss Thelma Brumfield.
In the matter of the claim of Mrs. Josie W. Rodes in
connection with her services at the Cafeteria, the Rector made
a verbal report of the correspondence with Mrs. Rodes and,
after some discussion, the following motion, duly made and
seconded, was adopted:
The Rector, having laid before the Board of Visitors of
the University of Virginia a claim of Mrs. Josie W. Rodes
for payment to her of $500 by way of extra compensation
for services rendered by her while managing the Cafeteria,
and it appearing that Mrs. Rodes resigned her position as
manager of the Cafeteria on September 1, 1923, and was paid
in full for her services, and the Board being of opinion
that its obligations to Mrs. Rodes as contained in her
contract of employment have been fully carried out, and that
she is not entitled legally or equitably to any further
or additional compensation, be it
RESOLVED, THAT the claim of Mrs. Rodes as presented
by the Rector be, and the same is hereby respectfully
declined.
The President presented the question of having published
at the close of the year a statement of Research in progress
at the University, and he was authorized to have same done.
In the matter of a site for the proposed Preventorium,
the following on motion duly made and seconded, was adopted,
WHEREAS, the Virginia State Teachers Association
has applied to the Rector and Board of Visitors of the
University of Virginia for a site on which to locate a
Preventorium for the use of disabled teachers in the
State Schools of Virginia, and
WHEREAS this Board adopted the following resolution
at its meeting on the 19th of February:
RESOLVED, THAT we view with a friendly interest
the application of the Teachers Association for a building
site, and refer same to the Committee on Buildings
& Grounds for investigation and report at the April
meeting, and
WHEREAS the Virginia State Teachers Association is
now engaged in an active campaign to secure funds for
the erection of the Preventorium on the grounds of the
University, be it
RESOLVED, THAT this Board approve of the location
of such Preventorium upon the grounds of the University
and hereby designates as a site thereof the plot of
ground lying between the observatory on the hill back
of Dawson Row and the Lynchburg Road. The precise location
of the building to be designated by the Committee
on Grounds & Buildings of the Board of Visitors. It is
understood that the approval of the Committee shall
be had of the plans and specifications for the building.
It is understood that the plans and specifications for
the building shall have the approval of the Committee
on Grounds & Buildings at the University of Virginia,
and the conduct of the Preventorium shall be subject
to such rules and regulations as may be submitted by
the State Teachers Association and approved by this
Board.
The question of granting a site to the Kappa Alpha
Fraternity for the erection of a chapter house was considered
but, being unable to arrive at a solution of this matter for
lack of time to give it due consideration, and from the further
reason that none of the new members and some of the old ones
could not be present to view the site selected, the question
was deferred until the June meeting.
The President presented the budget adopted by the Alumni
Board of Trustees of the University Endowment Fund in which
the income from the said funds was allocated to cetain
University objects, which was approved and ordered spread:
[see page 347 for Financial Budget]
| Board of Visitors minutes April 16, 1924 | |