 |
 | Board of Visitors minutes September 26, 1941 |  |
An adjourned meeting of the Wisitors was held on this date at 10 o'clock, a. m. in the office
of the President. Those present were the Rector R. Gray Williams, visitors Corbitt, Garnett, Miss
Randolph, Rinehart, Tucker and L. C. Williams, and President Newcomb.
Minutes of the previous meeting, copies of which had been mailed to the members, were approved.
The President made the following announcements:
ENROLLMENT TO DATE 2454.
| From the General Education Board for a study of the Progress of the Blandy Experimental Farm, during the year beginning July 1, 1941 |
$2,500.00 |
| From the Rockefeller Foundation, in full of their contribution toward the salary of Dr. Rudolph Freund, for the session of 1941-42 |
1,500.00 |
DEATHS:
Dr. Carroll Mason Sparrow, Professor of Physics 1911-41, died August 30, 1941.
Dr. Earl Godfrey Mellor, Professor of Romance Philology, 1930-41, died July 27, 1941.
(Reference is here made to the minutes of the Faculty for resolutions with respect to the
services, etc., of Doctors Sparrow and Mellor.)
LEAVES OF ABSENCE:
Upon the recommendation of the President, leaves of absence were approved for the following
members of the faculty and administrative staff of the University:
Mr. Wilbur A. Nelson, Professor of Geology, for the session of 1941-42, without salary.
Mr. Nelson will be employed in the Priorities Division, Office of Productive Management,
Washington, D. C.Mr. Thomas Cary Johnson, Professor of History, for the Session of 1941-42, without salary,
for service with the Navy.Dr. Robert Kent Gooch, Professor of Political Science, for the session of 1941-42, without
salary, to accept an important position in the Office of the Coordinator of Information,
in Washington, D. C.Dr. John Leonard Fulmer, Associate Professor of Rural Economics, for the session of 1941-42,
without salary, holding a reserve commission in the Army was ordered to active duty.Mr. Henry Harford Cumming, Assistant Professor of Political Science, for the session of
1941-42, without salary, to accept a Major's commission in the Military Intelligence
Division of the Army.Mr. Robert N. Hoskins, Assistant Professor of Physical Education, for the session of 1941-42,
to accept a Lieutenant's commission in the Naval Reserve.Mr. Thomas Moore Carruthers, Graduate Manager of Athletics, for the session of 1941-42,
without salary, to accept a Lieutenant's commission in the Naval Intelligence Service.
Upon the recommendation of the President the following promotion, and ratification of appointments
made during the summer, were approved.
PROMOTION:
Richard Marshall Welling, Instructor in Law at a salary of $2500.00, to Assistant Professor
of Law, at a salary of $2800.00, effective September 15, 1941.
ELECTIONS:
Dr. Robert E. Graham, Jr., Acting Associate Professor of Rural Economics, for the session
of 1941-42, at a salary of $3,750.00.Lieutenant Ruben Eli Wagstaff, Assistant Professor of Naval Science and Tactics, without
salary from the University.Dr. McLemore Birdsong, Assistant Professor of Pediatrics, at a salary of $2,400.00, effective
September 15, 1941.Mr. Samuel Davis, Instructor of History for the session 1941-42, at a salary of $2,000.00.
Mr. Harold Wesley Ward, Instructor in Political Science for the session 1941-42, at a salary
of $1,800.00.Dr. Robert O. Bloomer, Instructor in Geology for the session of 1941-42, at a salary of $2,000.00.
Mr. William Hubert Baughn, Instructor in Rural Economics for the session of 1941-42 at a
salary of $2,300.00. Mr. Baughn is replacing Mr. Charles Schwartz, at the same salary.Dr. Alfred Phillip Fernbach, Instructor in Political Science for the session of 1941-42, at
a salary of $2,000.00.Mr. Carl James Likes, Instructor in Chemistry for the session of 1941-42, at a salary of $2,000.00.
Dr. Thomas Cabell Todd, Assistant Administrator, University Hospital, at a salary of $4,000.00.
The following resolutions were unanimously adopted:
CONTRACT WITH WAR DEPARTMENT FOR CONSTRUCTION OF TESTING MACHINE FOR SMALL ARMS BULLETS:
RESOLVED, by the Board of Visitors of the Rector and Visitors of the University of
Virginia that J. L. Newcomb, President, be and he is hereby authorized and directed to sign
the contract on behalf of this Board between the United States of America acting through the
War Department, Ord. Dept., and the University of Virginia, for the construction of a machine
determining the principal axis of inertia of small arms bullets, in the sum of $5,000.00
provided by the United States of America; and
RESOLVED, FURTHER, that E. I. Carruthers, Secretary, be and he is hereby authorized
and directed to attest the signature, affix the seal, and certify that this Resolution
was passed within the scope of its corporate powers.
CONTRACT WITH THE U. S. A. FOR THE DETECTION OF CARBON MONOXIDE, ETC:
RESOLVED, by the Board of Visitors of the Rector and Visitors of the University
of Virginia that J. L. Newcomb, President, be and he is hereby authorized and directed
to sign for this Board a contract between the United States of America, represented by the
Executive Secretary, Office of Scientific Research and Development in the Office for
Emergency Management, Executive Office of the President, and the University of Virginia,
in an amount not to exceed $8,650 provided by the United States of America, for the detection
of carbon monoxide when present in extremely low concentrations, under the direction of Dr. J. H. Yoe, of the Department of Chemistry in the University of Virginia.
RESOLVED, FURTHER, that E. I. Carruthers, Secretary of this Board, be and he is
hereby authorized and directed to attest the signature, affix the seal, and certify that
this Resolution was passed by authority of the Governing Body of the University and is
within the scope of its corporate powers.
RECEIPT FOR LAW BOOKS BEQUEATHED TO THE UNIVERSITY BY CHARLES B. SAMUELS:
RESOLVED, by the Board of Visitors of the Rector and Visitors of the University of
Virginia, that J. L. Newcomb, President, be and he is hereby authorized and directed to sign,
and the Secretary to affix the Seal of the University, to the Receipt for Law Books
bequeathed to the University of Virginia by the Last Will and Testament of Charles B. Samuels.
LEASE TO THE PEOPLES NATIONAL BANK OF ROOM IN THE CORNER BUILDING USED AS A BRANCH BANK, RENEWED:
RESOLVED, by the Board of Visitors of the Rector and Visitors of the University
of Virginia, that J. L. Newcomb, President, be and he is hereby authorized and directed to
execute a lease on the room in the Corner Building occupied by the University Branch of
the Peoples National Bank of Charlottesville, for a period of five years beginning September 1,
1941, at a rental of $1200 per year, payable monthly.
RELEASE TO HIGHWAY DEPARTMENT IN RE: RIGHT-OF-WAY ALONG THE BLANDY EXPERIMENTAL FARM:
RESOLVED, by the Board of Visitors of the Rector and Visitors of the University
of Virginia, that J. L. Newcomb, President, be and he is hereby authorized and directed
to sign a release to the State Highway Department, acknowledging that the Department of
Highways has satisfactorily completed the work in connection with widening the Right-of-Way
along the property of the Blandy Experimental Farm, with the distinct reservation that
if at any time in the future the Highway Department shall deem it wise to remove, change,
or otherwise alter the existing stone fence along this Right-of-Way, that one of like
material and character shall be constructed at the expense of the Highway Department on
the land of the University of Virginia adjoining the Highway Right-of-Way.
SALE TO "MY OWN DEVELOPMENT CORPORATION" RIGHTS OF CONNECTION WITH WATER LINE SERVING THE RUCKER HOME FOR
CONVALESCENT CHILDREN:
President reminded the Board that in the deed made by My Own Development Corporation conveying
the property known as "West Cairns" to the University for use as a home for convalescent children, the
University was given the right to one connection with the 3/4 inch water pipe through which this property
has previously been served with water from the Charlottesville-Farmington water main. As said My Own
Development Corporation has the right to serve four other properties through this same 3/4 inch pipe,
it was apparent that this source of supply would be entirely inadequate for the purposes of the children's
home. Arrangements have been made with the City of Charlottesville whereby a new 6-inch water main will
be laid from the present city mains out to serve this property. When this main is laid an ample supply
of city water will, of course, be available. Under the rules of the city, however, this line will
not be the exclusive property of the University but the city will allow other water users to make connection
therewith. My own Development Corporation owns other land which it is now selling and which
will be benefitted by this new water line, and that Corporation has agreed to contribute $550.00 toward
the cost of purchase and installation of this new 6-inch main. As part of the consideration for this
contribution it is proposed that the University surrender to My Own Development Corporation its right
to take water from the 3/4 inch pipe above referred to.
After a discussion of the situation, it was-
RESOLVED, that the offer of said My Own Development Corporation to contribute
$550.00 toward the cost of purchase and installation of said new 6-inch water main be
and is hereby accepted. And the President is requested and hereby authorized to execute
a deed by which the University's interest in said 3/4 inch water connection is transferred,
set over and surrendered to My Own Development Corporation as a part of the consideration
for said contribution of $550.00 by it.
TRANSFER OF CERTAIN CAPITAL STOCKS, REGISTERED IN THE NAME OF THE RECTOR AND VISITORS OF THE UNIVERSITY
OF VIRGINIA, TO WABY AND COMPANY, THE NOMINEE OF THE TRUST DEPARTMENT OF THE PEOPLES NATIONAL BANK
A DEPOSITORY OF THE UNIVERSITY:
RESOLVED, by the Board of Visitors of the Rector and Visitors of the University
of Virginia that the following certificates of stock registered in the name of The Rector
and Visitors of the University of Virginia, and deposited with the Peoples National Bank
of Charlottesville, Va., a depository of the University of Virginia, be transferred to
WABY AND COMPANY, the Nominee of said Bank; and that the President of the University be
and he is hereby authorized to execute the certificates on behalf of the Rector and
Visitors of the University of Virginia, for transfer:
50 shares American Smelting & Refining. 7% Cum. Pfd. stock
50 shares American Telephone & Telegraph, common stock
200 shares Commonwealth Edison Co. Capital stock
4 shares First National Bank of the City of New York Capital stock
40 shares International Harvester Co. 7% Cum. Pfd. stock
50 shares Liggett & Myers Tocabbo Co. common "B" stock
40 shares Montgomery Ward and Co. Inc. $7 Class "A" stock
39 shares National Biscuit Co. 7% Cum. Pfd. stock
SALE OF LOT IN ANNISTON, ALABAMA:
The President reported that an offer had been received from E. A. Sims of $250.00 cash for a
small lot, located in Anniston, Ala., which came to the University in the bequest of Miss Mary Amelia Smith,
of Warrenton, Va., in 1921, which offer had been accepted, and suggested the following resolution which
was adopted:
RESOLVED, by the Board of Visitors of the Rector and Visitors of the University of
Virginia, that sale of lot 14, Block 134, in the City of Anniston, Alabama, to Z. A. Sims, for
$250 cash, be and the same is hereby approved; and J. L. Newcomb, President, be and he is
hereby authorized and directed to sign the deed conveying this lot to Z. A. Sims, and
RESOLVED, FURTHER, that E. I. Carruthers, Secretary, be and he is hereby authorized
and directed to attest the signature, affix the seal, and certify that this Resolution was
passed by authority of the Governing Body of the University, and is within the scope of its
corporate powers.
LOAN TO ZETA CHAPTER OF KAPPA SIGMA FRATERNITY:
The President submitted to the meeting a form of agreement under date of September 2, 1941, between
the University and E. H. Copenhaver, F. D. G. Ribble, and Lyttleton Waddell, Trustees for Zeta
Chapter of Keppa Sigma Fraternity, in which recitals appear to the effect that in September, 1911, the
University rented to Bologna Society of the University a lot described as Site C, on plat of Warren H.
Manning, of the eastern slope of Carr's Hill, upon which lot the Fraternity had been erected, that the
University had made said Bologna Society a loan of $10,000; that said Bologna Society went out of
existence several years ago, forfeited its charter, and default has been made by it in the payment of
installments due upon said loan, and that the balance of said loan is now $6,500.00, all principal;
that an additional sum of $3,500.00 is now needed for improvements and repairs to said Fraternity
House, and it is proposed that the University make a new loan for $10,000 to said Zeta Chapter of
Kappa Sigma Fraternity, which amount shall bear interest at the rate of 5% per annum and be paid in
installments of $88.00 beginning on the first day of October, 1941, such payments to continue thereafter
on the first days of each month from October to June, inclusive of each year until the whole sum of
$10,000, principal and interest, has been fully paid, said indebtedness to be evidenced by the bond
of said Zeta Chapter of Kappa Sigma Fraternity executed on behalf of said Chapter by its Grand Master,
without personal liability to him.
By said form of agreement the lot upon which said Chapter House is located is leased to
said Fraternity for a term of ninety-nine years from the 2nd day of September, 1941, with privilege of
renewal as therein set out, and the loan of $10,000 is made a charge against all the rights and interests
of said Fraternity under said lease.
After a discussion of the situation, it was
RESOLVED, that the loan of the additional sum of $3,500 to Zeta Chapter of Kappa
Sigma Fraternity, upon the terms as set out in said proposed agreement, be and is hereby
approved and ordered made, and said lease of Site C on Carr's Hill to said E. H. Copenhaver,
F. D. G. Ribble, and Lyttleton Waddell, and their successors as Trustees for said Zeta Chapter
of Kappa Sigma Fraternity is hereby approved, and the Rector is hereby requested to execute
and deliver said lease in the form presented to this meeting, E. I. Carruthers, Secretary, being
hereby authorized and directed to affix the corporate seal thereto and attest the same.
Furthermore, said E. I. Carruthers, Bursar of the University, shall accept the bond of said
Zeta Chapter of Kappa Sigma Fraternity for $10,000.00 after the same has been properly executed on behalf
of said Fraternity, and shall pay over the additional sum of $3,500.00 to said Trustees, E. H. Copenhaver,
F. D. G. Ribble, and Lyttleton Waddell, to be used by them for improvements and repairs to said Fraternity
House
Said lease, when properly executed and acknowledged on behalf of the University and of said
Zeta Chapter of Kappa Sigma Fraternity, shall be recorded in the Clerk's Office of the Circuit Court
of Albemarle County, and the lease to Bologna Society hereinbefore referred to, if it has any free at the
present time, is hereby cancelled.
APPLICATION BY SETH BURNLEY FOR LOAN OF $6,000:
Mr. Perkins presented to the Board the application of Mr. Seth Burnley, City Manager of the
City of Charlottesville, for a loan of $6,000 to be evidenced by his bond bearing interest at 4½% payable
10 years after date, to be secured by deed of trust constituting a first lien on Mr. Burnley's residence
located on Lots Nos. 11 and 12, Block 20, Preston Heights.
Appraisal of said property by George T. Starnes and R. H. Perry is attached to the application
from which it appears that, in the opinion of these two gentlemtn, the property has a fair market value
of $12,000.
After due consideration the question of the advisability of this loan was referred to the
Finance Committee with power to act, provided the interest rate shall not be less than 5%.
REPORT OF THE FINANCE COMMITTEE COVERING SECURITIES PURCHASED DURING FISCAL YEAR 1940-41:
Mr. R. Gray Williams, Chairman of the Finance Committee, submitted, for information and
recordation, report of the securities purchased for the Consolidated Endowment Funds during the past
fiscal year, as follows:
| 100/M | Richmond Terminal Railway 1st Mtg 3-3/8% 1965 | $105,000.00 |
| 15/M | Carolina, Clinchfield & Ohio Ry. 1st Mtg "A" 4% 1965 | 15,375.00 |
| 2/M | City of New York 3% of 1980, exchanged for stock of the B. M. T. Corp. stock |
2,002.50 |
| 6/M | Loan to Xi Chapter Theta Chi Fraternity 5% 15 yr | $ 6,000.00 |
| 10/M | Western Auto Supply Co. 3¼s of 1955 | 9,938.85 |
| 40/M | Celanease Corp. of America 3% 1955 | 39,619.50 |
| 75/M | U. S. Treas. 2-7/8% of 1955/60 | 83,414.47 |
| 2/M | Texas Pacific Ry. 1st & ref. "B" 5% | 1,350.45 |
| 10/M | U. S. Treas. 2-7/8% 1955-60 | 11,118.75 |
| 10/M | Illinois Bell Telephone Co. 1st Mtg 2-3/4% 1981 | 10,151.35 |
| 20/M | Monongahela Ry. 1st 3¼s 1966 | 20,500.00 |
| 50/M | General American Investor Inc., 5s of 1952 exchanged for 50/M 3½% bonds of 1952 |
46,470.00 |
| 10/M | Pacific Gas & Electric 1st Rfd. Mtg. 3% of 1964 | 10,175.00 |
| 10/M | Firestone Tire & Rubber Co. 20 yr. 3% | 9,900.00 |
| 7/M | Missouri Pacific 5s of 1977 | 1,942.95 |
| 7/M | Loan to L. J. Cappon @ 5% 10 year installment payments | 7,000.00 |
| 5/M | U. S. Treas. 2-7/8% 1960 | 5,560.94 |
| Total purchases and exchanges | $385,519.76 |
| 1000 | shs Inter Mountain Telephone Co. ($10 par) @ $36 | $ 36,000.00 |
| 200 | shs Chesapeake Camp. Corp. 5% Pfd ($100 par) | 20,000.00 |
| 200 | shs Appalachian Electric Power 4½% Cum. Pfd. | 21,200.00 |
| 100 | shs General American Investors 6% pfd. | 10,423.25 |
| 200 | shs Philip Morris Co. Ltd., cum. pfd. 4½% | 20,000.00 |
| 200 | shs General American Investors 6% pfd. | 20,446.25 |
| 300 | shs Ohio Power Co. 4½% cum. pfd. | 32,400.00 |
| 59 | shs Charlottesville Woolen Mills common | 7,456.00 |
| Total stocks purchased | $167,925.50 |
CHANGE IN TOTAL INVESTMENTS OF THE CONSOLIDATED FUNDS DURING THE YEAR ENDED JUNE 30, 1941:
| June 30, 1940. | Total investments | $1,985,767.66 |
| June 30, 1941. | Total investments | 1,871,737.57 |
| Decrease | $ 114,030.09 |
| June 30, 1940. | Total investments | $1,375,810.19 |
| June 30, 1941. | Total investments | 1,536,886.83 |
| Increase | $ 161,076.64 |
BUDGET 1941-42-REVISION.
The President presented to the Board a revised estimate of income from student fees and
rents for the Session 1941-42. This estimate shows a decrease of $37,916.50 below the estimated
receipts from these sources set up in the tentative Budget, approved by the Board in June, 1941.
The estimated decrease of $1,485 in the Student Health Service; $1,457.50 in Athletic
Fees, and $198 in College Topics receipts, will be cared for by a corresponding reduction in expenditures
under these three items, which total $3,140.50.
This leaves a net decrease to be cared for in the total sum of $34,776.
The President further explained that the substitutions for employees who have been granted
leaves of absence for government service, or who have died since June, 1941, represented a decrease
in our proposed expenditures of $26,000. This sum, together with the estimated surplus on the Budget
adopted in June, leaves the Budget in a balanced condition. It was thereupon
RESOLVED, by the Board of Visitors of the Rector and Visitors of the University
of Virginia that the tentative Budget approved in June be declared to be the Budget of
the University for the Session 1941-42, after making the decreases in expenditures in
the Student Health Service, Intercollegiate Athletics, and College Topics, referred to
in the Preamble to this Resolution.
RESOLVED, FURTHER, that the President be and he is authorized and directed to
re-cast the fiscal situation of the University as of January 1, 1942, and if at that time
he finds that the University will have a deficit in Operating Expenses for the current
year, he is authorized and directed to request the Legislature of Virginia to make a deficit
appropriation to cover this item.
SUBSTITUTES FOR EMPLOYEES ON LEAVE, ETC.:
The Board desires to record a statement on its minutes to the effect that in the employment
of substitutes for employees who have left for government service, or who have died, there was no
desire on its part to make these substitutions in order to save money. In every case the best available
person was employed as a substitute, and every effort has been made to guarantee the standards of
scholarship and teaching, unimpaired.
LOMAX GWATHMEY BEQUEST:
The Rector presented a letter he had received from the National Bank of Norfolk, Trustee
under the will of Lomax Gwathmey, submitting a copy of an agreement entered into in 1928 between
the said parties, in which the University of Virginia is the remainderman, and a copy of a supplemental
agreement giving the Trustee the power to sell, convey, rent, lease, assign, transfer, or exchange
any asset of the trust estate, real or personal, whether now owned or hereafter acquired, etc.
The communication called attention to the absence in the original agreement of any authority to
handle real estate and, that as several pieces have since been given the trustee, it should be
amended to take care of the situation, and incidentally of some other difficulties. The amended
agreement was referred to the attorney for the University for examination and, if approved by him,
the President and Secretary were authorized to execute same on behalf of the University.
LAWRENCEVILLE FURNITURE COMPANY PROPERTY—PRICE FIXED FOR SAME:
The President stated to the Board that an offer had been received through our attorney in
Lawrenceville, Virginia, for the purchase of the property located there known as the Lawrenceville
Furniture Company storeroom. Among the securities coming to the University under the will of Dr.
Walter M. Seward was a bond of the said company secured by a mortgage on the property. The bond and
interest being in default, the mortgage was foreclosed and the property bid in by the University.
Mr. Corbitt, who, at the request of the President, had visited the property with a view of determining
its sale value, reported that following his inspection of the property and inquiry as to the local
realty market, he was of the opinion that it should bring not less than $6,500.00 net cash. The
recommendation of Mr. Corbitt was agreed to, and the Secretary instructed to so advise our
attorney in Lawrenceville. If sale be made, President and Secretary authorized to execute deed.
ANNUITY CONTRACT CONTRIBUTIONS FOR FACULTY MEMBERS ON LEAVE, WITHOUT SALARY, FOR FEDERAL SERVICES:
The President stated that of the members of the faculty on leave without salary for
Federal services there were four for whom the University had been contributing a total of $835.00
per year, which was matched by them, toward the purchase of retirement annuity contracts, and suggested
that the contributions by the University be continued, provided the respective members matched the
payments. This was approved.
The meeting then adjourned.
RECTOR.
SECRETARY.
| Board of Visitors minutes September 26, 1941 | |