University of Virginia Library

An adjourned meeting of the Board was held on this date at 11 o'clock at which were present
Corbitt, Daniel, Garnett, Goolrick, Hall, Miss Randolph, Rinehart, Tucker, L. C. Williams and R. Gray Williams, and President Newcomb.

Mr. L. C. Williams, Rector pro tem., presided.

FREDERIC WILLIAM SCOTT MEMORIAL:

The special committee, consisting of R. Gray Williams and Lewis C. Williams, appointed at the
October 3rd meeting to prepare a memorial to the late Rector, presented the following memorial which
was read and unanimously adopted:

A MEMORIAL TO FREDERIC WILLIAM SCOTT

WHEREAS, Frederic William Scott, for many years Rector of the University of Virginia, died
suddenly at his country home in Albemarle County, known as "Royal Orchards," on September 24th, 1939,
in the seventy-eighth year of his age; and

WHEREAS, this Board desires to adopt and place upon its minutes this memorial to Mr. Scott
and this expression of the grief that his death has caused each member of this Board.

Frederic William Scott was made a member of the Board of Visitors of the University of
Virginia in 1920 had, after he had served continuously for ten years, he was elevated to the position
of Rector.

One of Virginia's most eminent financiers, Mr. Scott rendered invaluable service to this
University as Chairman of the Finance Committee of this Board. As the head of the investment banking firm
of Scott and Stringfellow his information on investments was constantly fed by his intemate association
with this firm and with successful business men with whom he served on other boards.

Mr. Scott was sometime a member of the New York Stock Exchange and was, at the time of his
death, a director of the Louisville-Nashville Railway Company, the Atlantic Coast Line, the General American
Investors Company and the Atlantic Land and Improvement Company. He was also a director of the American
International Corporation, a director of the Belt Eine Railway of Alabama, and was both a director and
vice-president of the Richmond Terminal Corporation. Some years ago he was a director of the Old
Merchants National bank, which is now the First and Merchants National Bank of Richmond.

Mr. Scott was a constructive financier. He took a leading part in the reorganization of
corporations of national importance, among which were the Chesapeake and Ohio Railway, the International
Mercantile Marine Company and others.

In his younger manhood Mr. Scott was a member of several tobacco firms. Later he received
sound training in banking and finance administration when he became associated with the firm of Thomas
Branch and Company. In 1893 Mr. Scott, together with the late Charles S. Stringfellow, of Richmond,
organized the firm of Scott and Stringfellow, which had continued a successful existence in Richmond
for nearly a half century at the time of Mr. Scott's death.

Mr. Scott possessed outstanding qualities of leadership. Around any council board his place
was at the head of the table. Men deferred to his judgment because they felt that he knew whereof he
spoke and that he was honest, sincere and frank in any advice that he gave. Loyal to his convictions,
firm in his opinions, he, nevertheless, was ever ready to hear fairly contrary opinions of his associates.
He removed the sharp edge of difference from any debate by the charm of his manner and the kindliness
of his humor.

While Mr. Scott was not an alumnus of the University of Virginia, having received his
collegiate education at Princeton, his native love for this University rlenea into an affectionate
admiration. For nearly twenty years his great ability and his fine character did signal service to the
development of this institution.

During Mr. Scott's service on this Board the student body for the regular session more than
doubled in numbers and significant increases have been made in the faculty. Mr. Scott took an active
part in the development of the buildings at the University. During his period of service he cooperated
with the President and Visitors in building additions to the physical plant consisting of the Memorial
Gymnasium, Medical Building, Freshman Dormitories, Monroe Lecture Hall, Preventorium for Public School
Teachers, McIntire Wing of the Hospital, KcKim Hall for Nurses' Home, Clark Memorial Law Building,
Bayly Art Museum, Thornton Hall for Engineering School, Barringer Wing to the Hospital, Alderman Memorial
Library, the John Staige Davis Psychiatry Wing of the Hospital, Restoration of Fayerweather Hall for Art
and Architecture, and the Restoration of the Rotunda. Mr. Scott himself, built and donated to the
University the Scott Stadium as a memorial to his parents, as well as other gifts to this institution.

A conservative by conviction, Mr. Scott, nevertheless, was sympathetic with the progress
that this University has made. The confidence felt by informed persons throughout the state in the
sanity and soundness of his views contributed not a little to the support that this University
received from some members of the General Assembly and from other leaders of public opinion.

A gnetleman of singular sweetness of disposition, Mr. Scott possessed a rare genius for
friendship. In his own home he radiated sweetness and light and was beloved by every member of his
family. He reverenced the fine traditions of Virginia and contributed to his home purity, dignity,
simplicity and kindliness.

Without pretense of piety he reverenced God and believed in the Christian religion. He
carried into this age of doubt and cynicism much of the simple faith that characterised older Virginia.

BE IT RESOLVED THAT a copy of this memorial be spread upon the minutes of this Board and that
a copy be sent to the family of Mr. Scott.

ELECTION OF RECTOR:

The special order of business for this meeting being the election of a Rector of the University
to fill the vacancy caused by the death of Frederic William Scott, was then proceeded with, and Mr.

Robert Gray Williams was unanimously elected, and thereby became the 25th Rector of the University, and the
22nd individual to hold the office of Rector.

STANDING COMMITTEES APPOINTED:

The Rector announced the following Standing Committees of the Board:

EXECUTIVE COMMITTEE

• Goolrick

• Dr. Randolph

• Rinehart

• Corbitt

• The Rector

FINANCE COMMITTEE

• The Rector

• Rinehart

• Daniel

• Corbitt

GROUNDS & BUILDINGS COMMITTEE:

• Rinehart

• Corbitt

• Garnett

NEW BUILDINGS BOMMITTEE:

• Rinehart

• Lewis C. Williams

• Garnett

The meeting then adjourned.