Board of Visitors minutes :: April 14, 1956 :: University of Virginia Library

We now have one hundred (100) Regional Scholarships for Virginians, which the
Scholarship Committee feels is quite adequate. However, funds for out-of-state
regionals have been very limited and the Scholarship Committee has been most anxious
to find ways of increasing the number of these awards, for the following reasons

1. The duPont funds came from a nonresident of the State, and
2. The committee feels that the student body will be strengthened
by a sprinkling of outstanding boys from other states who would not
otherwise be able to attend the University.

Last year and again this year we have received a substantial extra dividend
from the duPont Trust. While this money could be spent over a period of years, the
committee would like to be assured of a more permanent income for these awards.

If you agree, I would appreciate your bringing to the Board the proposal that
the present accumulation of approximately $200,000 be reinvested.

It is contemplated that we would ask the Alumni in various cities to help us
in selecting the recipients. We are experimenting this year in Charleston, West
Virginia and in Birmingham, Alabama, and the plan has been greeted with
considerable enthusiasm by Alumni chapters in these cities.

Very truly yours,

/s/ Vincent Shea

Vincent Shea, Comptroller

VS/lw

Mr. Colgate W. Darden, Jr.
President
University of Virginia

During the discussion that followed, Colonel Hartfield and Mr. Pollock suggested that the
Scholarship Committee give consideration to permitting Virginia students an opportunity to
compete for the proposed additional out-of-state scholarships, President Darden said that he
would bring this proposal to the attention of the Scholarship Committee for consideration.

The Board thereupon resolved that the Comptroller be authorized to reinvest the
accumulation of approximately $200,000, the income to be used for the purposes set forth above in
the Comptroller's letter of March 5th.