University of Virginia Library

CATHER ESTATE

Mr. W. Allan Perkins, Attorney for the University, presented a report concerning the Cather
estate in Florida.

At a meeting held on June 15, 1945, I appeared before the Board and presented a written
statement dealing with a possible interest which the University has in the estate of the late Rear
Admiral David C. Cather. I also presented to the Board a form of release of the University's rights,
which the University was requested by Mr. Harry Lupton Cather, brother and residuary legatee of
Admiral Cather, to execute and deliver.

This statement set out in detail the facts surrounding the situation, contained a brief
discussion of the law applicable to the case and concluded with the expression of my opinion that the
University should not execute the proposed release.

It was, thereupon,

RESOLVED, "That the statement above referred to be filed with the minutes of this meeting
and that Mr. Perkins be and is hereby instructed to advise Mr. Leslie Hall, Attorney-at-Law, Arlington,
Virginia, who is representing Mr. Harry Lupton Cather in this matter, that the University cannot comply
with the request that the release in question be executed and the rights of the University, if
any, surrendered."

By reference to my statement above referred to, which was filed with the minutes of the
meeting of June 1, 1945, it will be seen that the fund in which the University has a possible interest
is held by Florida National Bank of Jacks onville under Trust Instrument executed by Rear Admiral
Cather July 17, 1928, and amounts to some $14,000.00.

Upon the University's refusal to release this interest in said fund that Bank filed its bill
in chancery in the Circuit Court of Duval County, Florida, asking for guidance in the distribution of
this trust.

With the approval of President Newcomb I associated the law firm of Adair, Kent, Ashby and
McNatt, of Jacksonville, Florida, with me in the matter, and on Wednesday, November 5, 1947, Mr. Adair
and I argued the case before Judge Bryan Simpson in Jacksonville, Mr. Harry Lupton Cather being present
and represented at the hearing by Mr. C. C. Copp of Jacksonville.

Upon conclusion of the argument, Mr. Adair and I were of opinion that the case was a proper
one for settlement by compromise, and on Thursday, November 6, 1947, we agreed with Mr. Cather and Mr.
Copp that we would recommend the following settlement to this Board upon their assurance that if the
recommendation was approved by this Board the settlement would be immediately effected.

The proposed settlement is based upon the following figures:

                       

Trust fund held by Florida National Bank as of November 5, 1947		$14,570.00
from which shall be deducted the following items:
The Trustee's terminal fee	$ 412.50
Fee of Counsel for Bank	300.00
Court costs and copying record (estimated)	100.00
Pro-rata of California inheritance tax and Federal Estate Tax properly chargeable to this fund,	3,460.38
	4,272.88	14,570.00
		4,272.88
		10,297.12
One-half to Harry L. Cather	5,148.56
One-half to University of Virginia	5,148.56
	$10,297.12	$10,297.12

Mr. Adair and I strongly recommend that settlement be made with Mr. Harry Lupton Cather upon
the above basis.

Respectfully submitted, November 14, 1947,

/s/W. Allan Perkins
Attorney for the University

The following resolution was adopted by the Board in regard to the final settlement of this
estate:

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.