 | Board of Visitors minutes January 29, 1937 |  |
Pursuant to Resolution of adjournment, adopted at the meeting to this Board held
on Saturday, January 16th, 1937, this Special Meeting of the Board of Visitors of The Rector
and Visitors of University of Virginia was continued at the time and place fixed by said
Resolution.
Present: Messrs. Scott, Garnett, Lewis C. Williams, R. Gray Williams, Corbitt,
Goolrick, Rinehart, and Stuart.
Absent: Mr. Hall and Mrs. Munford.
The meeting was called to order by Mr. Frederic W. Scott, the Rector.
E. I. Carruthers, Secretary of the Board, again presented and read a copy of the
call of the meeting in the form hereinbefore set out. Mr. Carruthers also stated that as a
reminder of the time to which this meeting had been adjourned he had mailed a notice thereof
to each member of this Board, said notices having been placed in the Post Office on January
25th, 1937, addressed to each member of the Board at his address as the same appears on
the records of the University, said notice being as follows.
January 25th, 1937.
This notice will remind you that the special meeting of the Board of Visitors
of the Rector and Visitors of the University of Virginia, held on January 16th, 1937,
was adjourned until 12:00 o'clock Noon, on Friday, January 29th, 1937, at the President's
Office at the University, at which time and place a report will be received from
the Finance Committee, advising the Board as to what bids have been received for
$523,000.00 of University Library Revenue Bonds authorized by Resolution adopted January
16th, 1937, and at which meeting, with the consent of the Governor, the old most
favorable to the University will be accepted and the bonds awarded to the purchaser,
and such other matters will be taken up as may come before the meeting.
Secretary, Board of Visitors.
The Finance Committee then presented the following report.
Your Finance Committee begs to report that a meeting of this Committee was held
in the President's Office at the University at 11 a.m. today (Friday, January 29, 1937);
that at said meeting the following two bids for the purchase of $523,000.00 Library Revenue
Bonds were the only bids received, namely:
| Bidders | Int. rate | Price |
| Scott, Horner, Mason and Associates |
4% | $525,223,37 |
| Mason, Hagan, Inc. | 4% | 528,543.80 |
After a full consideration of these bids your Committee recommends that both of
said bids be rejected, but that said bidders be given until 3:30 this afternoon to present
a better bid or bids.
Chairman, Finance Committee.
The following resolution was thereupon offered by Mr. Lewis Williams and was
seconded by Mr. Garnett:
RESOLVED that both of said bids be and are hereby rejected, but that said bidders be
given until 3:30 this afternoon to present a better bid of bids.
A vote being taken upon said resolution resulted as follows:
Ayes. Messrs. Scott, Garnett, Lewis C. Williams, R. Gray Williams, Corbitt,
Goolrick, Rinehart and Stuart.
Noes: None.
A majority of the Bond Houses interested in the purchase of these bonds had
representatives present in person at the President's Office. These representatives were at
once advised of the foregoing action of the Board, and they stated that they would undertake
to prepare a better bid to be submitted in accordance with said resolution.
Later in the afternoon their amended bid was submitted and the following report
was presented to the Board by the Finance Committee:
Your Finance Committee begs to report that the following bid for the purchase
of $523,000.00 Library Revenue Bonds has just been received. This bid is a joint bid of
the following firms.
Robert Garrett & Sons, Baltimore
W. E. Buford & Company, Charlottesville
A. S. Huyck & Company, Chicago
Peoples National Bank, Charlottesville
Magnus & Company, Cincinnati
Chas. A. Hirsch & Company, Cincinnati
Weil, Roth and lrving, Cincinnati
Walter, Woody & Heimerdinger, Cincinnati
Widman, Holzman & Katz, Cincinnati
W. B. Bowles, Jr. & Company, Cincinnati
Scott Horner & Mason, Lynchburg
Frederick Nolting, Inc., Richmond
Mason & Hagan, Inc.
These gentlemen offer to pay the sum of $523,000.00, with interest at 3¾% from
the date of the bonds to the date of payment of the purchase price by them, said bonds to
bear interest at the rate of 3¾%. While your Committee had hoped that these bonds might be
sold to bear a rate as low as 3½% interest, they feel that taking all conditions into consideration
the price offered is a fair price and your Committee therefore recommends the
acceptance of said offer.
Chairman, Finance Committee.
After full consideration and discussion of the foregoing report, the following
resolution was offered by Mr. Lewis C. Williams, and seconded by Mr. Garnett:
RESOLVED that subject to the approval of the Governor, the foregoing bid for the
$523,000.00 face value Library Revenue Bonds of the University, under which the purchasers
named above offered to pay the sum of $523,000.00 and accrued interest, at the rate borne
by the bonds from the date of the bonds to date of payment of purchase price, said bonds
to bear interest at the rate of 3¾% be, and is hereby accepted, and said bonds are nereby
awarded to the said bidders named above.
A vote being taken upon said resolution resulted as follows.
Ayes: Messrs. Scott, Garnett, Lewis Williams, Gray Williams, Corbitt, Goodrick,
Rinehart and Stuart.
Noes: None.
The President announced a gift from the carnegie corporation of New York for
recataloguing the Library collection..............$15,000.00
Upon the recommendation of the President Dr. George McLean Lawson was elected
Professor of Preventive Medicine and Bacteriology at a base salary of $7,500, incumbency to
begin September 15, 1937.
Consideration of Report on Student Health Service was erieo.
Location of Astor Squash and Handball Courts was referred to the New Buildings
Committee, with authority to employ landscape architect in desired.
An offer for the purchase of the L. B. Miller property, located in Rockingham
County, devised to the University upon the death of the lifetenant, was received, and action
thereon deferred until the next meeting.
The following Regulations Covering Intercollegiate Athletics, which had been
adopted by the University Senate, were presented by the President for consideration, and,
on motion, duly made and seconded, were unanimously adopted:
REGULATIONS GOVERNING INTERCOLLEGIATE ATHLETICS
RULE I. Physical Examination.
No student is permitted to engage in intercollegiate athletics unless he has been
examined by a responsible medical officer of the University and pronounced physically
fit to do so.
RULE II. Absences.
Only students who are regular or substitute members or student managers of representative
athletic teams are granted leaves of absence to attend contests away from
the University. Varsity squads and their managers are allowed not more than eight days of
absence from classes during any season of athletic competition, and no student is allowed
more than a total of sixteen days of absence during the entire session for two or more
sports. Members of first-year teams and their managers will be allowed not more than
four days of absence from the University during any season of sport.
RULE III. Schedule.
The football teams are permitted to play games only on the home grounds of the
institutions represented. (By special faculty action exception may be made in the case
of games with the United States Army and Navy teams.)
RULE IV. Eligibiligy.
(1) Only regular students pursuing a course of study of at least four year-courses
in the College (or the equivalent in another Department) are eligible for participation
in intercollegiate athletics. Only regular students who are making progressive advancement
toward a degree as represented by passing at least three year-courses in the
College (or the equivalent in another Department) during the last previous session of
attendance, are eligible for participation in varsity athletics. Deficiencies may be
removed by passing work in an accredited Summer School.
NOTE: This rule is applicable not alone to athletics but as well to members of any
student organization which publicly represents the University, such as a
Musical Club, a Players Club, a Debating Team, or a Student Publication.
(2) No student who is on probation is eligible to represent the University in an
intercollegiate contest.
(3) No student who has participated in an intercollegiate contest as a member of
a team representing another college or university (except transfer students from accredited
junior colleges, normal school, or other accredited schools not offering a four year
course of study), is eligible to represent this University in the same sport.
(4) No student except transfer students who are graduated from accredited junior
colleges, normal schools or other accredited schools not offering a four-year course of
study shall participate in varsity intercollegiate athletics until after the expiration
of twelve months from the date of his first matriculation in this University.
(5) Participation in intercollegiate athletics shall be limited to one freshman
and three vty years, over a period of five consecutive years counting from the date of
first matriculation in any college, Junior college, or normal school.
(6) Any student who has engaged in or has entered into any agreement to engage
in professional athletics is ineligible for participation in intercollegiate athletics.
Nothing in this regulations shall prevent an athlete from doing work in connection
with a playground or summer camp where the requirements do not call for a man with
technical preparation in physical training, nor shall it prevent an athlete from playing
on a baseball team not recognized by the National Commission of baseball Clubs.
(7) No student who represents the University in intercollegiate athletics is per
mitted to play on an athletic team other than that of this University during the
college year. This rule does not apply to students at home during the Christmas
vacation. No student who has participated in a boxing match where spectators paid
for admission directly or indirectly, except as a representative of an educational
institution in which he was enrolled, shall be eligible for intercollegiate boxing.
National Amateur C. ampionship matches, Olympic Tryouts and Olympics Games are excepted
from this provision.
(8) First-year teams shall be composed of members of the first-year class only,
who shall not compete as such for more than one year. No first-year student who has
been enrolled at another college shall be eligible to compete on the first-year teams.
(9) No student who receives any compensation from this University for services in
connection with athletic coaching, regular instruction, or administerative work, shall be
permitted to participate in any intercollegiate contest.
RULE V. Scholarships, Jobs, and subsidization.
Any scholarship, loan, job, remission of charge, financial aid or other material
consideration within the direct control of the University, to be open to an athlete,
must fulfill all of the following requirements:
a. Be equally open to non-athletes on the basis of character, scholarship,
financial need, competence for any specific task, and general merit.
b. Be awarded not earlier than June 1st for the ensuing academic year, and only
after fair consideration of all applications, for which due public notice had been
given by April 1st.
c. Be awarded only by a representative and responsible faculty committee or
committees in the respective fields of scholarships, loans, and jobs.
d. Any scholarship which by the terms of the will or gift is limited by its
provisions of award to members of particular family or group, of to students in particular
geographic areas, must, in order to be open to an athlete, not be based on
athletic skill as a requirement for award; must be announced in the catalogue; and
must, when awarded, be approved by the faculty committee on scholarships.
e. No scholarship shall be awarded to a student from high school or preparatory
school unless he ranked in the upper half of his school class. No scholarship shall
be awarded to a student who has attended an institution of collegiate rank unless he
passed all of his courses in the institution in question in his last preceding regular
session.
RULE VI. Athletic staff and audit.
(1) No member of the athleticstaff or physical education department shall receive
for his service or for any athletic purpose related to the University any money or
other valuable consideration except through the college authorities. The athletic
director and coaches shall be chosen and their salaries fixed by the Rector and Visitors
of the University, upon recommendation of the President.
(2) All athletic accounts shall be audited regularly by a certified public
accountant and shall be open for inspection by responsible officials.
After a full discussion by the Rector and Visitors the President was authorized
to issue the following statement to the public with respect to athletics:
STATEMENT OF THE RECTOR AND VIOTIRS OF THE
UNIVERSITY OF VIRGINIA
The University of Virginia will continue to observe the One-Year Rule; the
Migratory Rule; and the Rule which limits athletic participation to four years in a
five-year period.
Any of its regular students who are sound physically, who are in good standing
academically, and who have passed at least three year-courses in the preceding session,
will be eligible for its varsity teams under these Rules.
It will continue to award its scholarships, loans, and remunerative jobs, to
athletes and non-athletes alike, without preference to either.
The recipient of a scholarship must have ranked in the upper half of his class
if he is a new student; and he must have passed on all his courses if he is an old
student.
The University will continue to exercise institutional control over all aspects of
its athletic life which are within its control, with a view single to its welfare as
an institution for the education of all of its students.
The University will be prepared to give assurance to all its competitors of the
eligibiligy of each player under its regulations.
The meeting then adjourned.
Scc.
| Board of Visitors minutes January 29, 1937 | |