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 | Board of Visitors minutes January 20, 1944 |  |
A special meeting of the Board was held on this date in the office of the President at 11 o'clock
a.m. with the following members present, the Rector R. Gray Williams, and Visitors Lewis C. Williams, Christopher
B. Garnett, James H. Corbitt, C. O'Conor Goolrick, Edward C. Anderson, Dabney S. Lancaster and Dr. W.
D. Haden, and President Newcomb.
Minutes of the previous meeting, copied and mailed the members, were approved.
The President announced the following enrollment and gifts:
Enrollment, 1444.
| From the Estate of William J. Rucker | |
| For Art and Architecture | $40,000 |
| For Research in Arthritis | 25,000 |
| For use of the Hospital | 64,000 |
| For use of the Hospital | 6,826.79 |
| Total | $135,826.79 |
| From Mrs. Clara Rodes Hopkins | 5,000.00 |
From Mrs. William H. White, Jr., (no publicity)
Certificate $132 for 25 shares preferred stock, F. S. Royster Guano Company,
in the name of Waby and Company.
Voting Trust Certificate #115 for 25 shares common stock, F. S. Royster Guano Company
in the name of Waby and Co.
Two Province of Ontario 4 1/2 Debentures of May 15, 1960, $1,000 each, with May 15, 1944
and subsequent coupons attached.
Two City of Montreal 20-year 4 1/2 Gold Bonds of 1950, $1,000 each, with January 1, 1944
and subsequent coupons attached.
The foregoing are to become and be a part of the Mary Stamps Royster Memorial Fund.
From the Eighth Evacuation Hospital Unit
Three boxes of surgical instruments, exact replicas of those discovered in the ruins
at Pompeii and Herculaneum.
LEAVES OF ABSENCE:
Leaves were granted the following members of the faculty:
Dr. Edward James McShane, Professor of Mathematics, effective March 1, 1944, without salary from
the University, for the duration of the war, in order to undertake important work at the Ballistic Research
Laboratory in Aberdeen, Md.
Mr. Chapin Jones, Associate Professor of Forestry, leave of absence without salary, effective
October 15, 1943, for such time as his services may be required by the Office of Economic Warfare in connection
with its Columbian Cinchona Mission.
RESIGNATION:
The resignation of Dr. Leon S. Culbertson, Assistant Professor of Urology, was accepted with regret.
PROMOTIONS:
Dr. Bruno Barelare, from Instructor to Assistant Professor of Urology, at a salary of $4,000 per
year, $600.00 to be paid from State Funds and $3,400.00 from Urology earnings.
Dr. Frank Whitney Finger, from Acting Assistant Professor to Assistant Professor of Psychology at
a salary of $3,000 per session, ($4,000 per calendar year under the present accelerated program.)
ELECTION:
Commander Philip Henry Ryan, U. S. N. Ret., elected Associate Professor of Naval Science and
Tactics, without salary from the University.
DELTA TAU DELTA FRATERNITY HOUSE REPAIRS:
The President brought to the attention of the Board a statement from the Superintendent of Buildings
& Grounds calling attention to the need for certain repairs to the porches and rooves of the Delta Tau Delta
Fraternity house in order to preserve the property, on which property the University has a loan. The repairs
were estimated to cost about $1,000, the cost of which to be added to the present loan contract. The matter
was referred to the Finance Committee with power to act.
CITY FILTER PLANT-RECUEST FOR ADDITIONAL LAND TO ENLARGE THE PLANT:
The President presented a request from the City of Charlottesville for the use of additional land in
order to extend the capacity of the filtration plant located on the land of the University, supplying water
for the City and University. The President, the Rector and Dr. Haden were appointed to negotiate a lease with
the City to be made coterminous with the present lease.
NURSES HOME ADDITION-FEDERAL GOVERNMENT'S OFFER TO ASSIST IN FINANCING:
The President advised the Board of the Federal Governments' Nurses Training Program, involving the
erection of an addition to the present building, at a cost of $250,000, and explained that a tentative offer
from the Federal Government to contribute $125,000 toward the construction, and that he had made an application
to the Federal Government for the appropriation of such sum. The Board approved of the action taken by the President.
GOVERNOR'S LEGISLATIVE PROGRAM FOR THE UNIVERSITY, INCLUDING THE BUDGET:
The President and members had a general discussion of the Governor's program, including the budget
allocations for capital outlays as they affect the University, and the matters were disposed of in the appointment
of a committee composed of the President, Corbitt and Anderson to take such steps as may be
considered proper to further the cause of the University in the matter of the Governor's recommendation for
appropriations for construction of dormitories and other buildings at the University. (Offered by Mr. Garnett).
MAZYCK WILSON SHIELDS ESTATE:
Mr. Perkins, Attorney for the University, appeared before the Board and made the following
report upon the present status of the University's interest in the Estate of the late Mrs. Mazyck
Wilson Shields, who died a resident of Washington, D. C., on the 12th day of November, 1941.
The members of this Board will recall that by the will of Mrs. Shields all of the residue of
her estate is given one-half to the Board of Visitors of "The Virginia Military Institute" and the other
half to the "Board of Visitors of the University of Virginia".
I am advised by Mr. Mahlon C. Masterson, Attorney for Mr. Richard C. Marshall, Administrator
d.b.n. c.t.a. of this estate, that approximately $3500.00 in cash will be turned over to each of the two
institutions from the residuum of the estate upon final distribution of the estate, and, in addition to this
money, the residue of the estate consisted of the following real and personal property -
REAL ESTATE
(1) "Tract (5) Block (3) Section (27) Township (16) South, Range (30), East, Marion County,
Florida", containing 10 acres, more or less, etc.
(2) "Tract (3) and (4) Block (3), Section (27) Township (16) South, Range (20) East, Marion
County, Florida", containing 20 acres, more or less, etc.
(3) "The Southwest quarter (SW¼) of the Southeast quarter (SE¼) of Section twenty-eight (28)
Township Sixteen (16) South, Range (20) East", containing 40 acres, more or less".
PERSONAL PROPERTY
| Appraised Value | ||
| (1) | 12,000 shares, Capital Stock, Jerry Johnson Gold, Inc., |
36.00 |
| (2) | 30,033 shares, Capital Stock, United States Mining & Milling Corporation | 601.98 |
| (3) | 16,000 shares, Capital Stock, Gold Producers, Incorporated, | 40.00 |
| (4) | 900 shares, Class A, Capital Stock, American Cyro Company, Par 1 cent | None |
| (5) | 4,000 shares, Capital Stock, Gold Dipper Mines, Incorporated, Par 1 cent | None |
| (6) | 1 share, Capital Stock, Jones County Drilling Company, Par $25.00 | None |
| (7) | 35,750 shares, Common Stock, Consolidated Gold Producers, Incorporated, Par 10 cents |
None |
| (8) | 125 shares, Capital Stock, South Tintic Mines Company, Par 15 cents | None |
| (9) | 200 shares, Capital Stock, Standard Lily Extension Mines Company, Par 1.00 | None |
| (10) | 400 shares, Class A, common stock, Wrigley Pharmaceutical Company, Par 1.00 | None |
| (11) | 1 share, Preferred Stock, Acca Temple Building Corporation, Par $100 | None |
| (12) | 1,500 shares, Capital Stock, Consolidated Gold Producers, Incorporated, Par 10 cents |
None |
| PROPERTY | FRACTIONAL INTEREST |
PRESENT APPROX. VALUE |
| Crews | 11/10,000ths | 24.75 |
| Laird | 14/7,500ths | 105.00 |
| West Cole | 4/ 8,750ths | 14.00 |
| Dean Cole | 5/2,500ths | 16.25 |
| Jamison | 15/5,000ths | 22.50 |
| Christian & 2nd Half | 10/ 2,500ths | 40.00 |
| Joe Lee | 8/ 7,500ths | 12.00 |
| Muckelroy Heirs | 3/ 2,500ths | 7.50 |
| M. Bryson | 50/ 5,000ths | 25.00 |
| $ 267.00 |
AS TO THE REAL ESTATE
By referring to the minutes of the meeting of this Board held on October 2, 1943, it will be
seen that Mrs. Shields had entered into a contract, dated May 31, 1940, with Southern Tung Land and
Realty Company, of Ocala, Florida, for development of said 10 acre tract and had agreed to pay said Company
a substantial sum on this account; that at the time of said meeting the sum of $1012.50 was due said
Company under said contract, and that on May 22, 1944, an additional $337.50 would fall due - a total of
$1350.00.
And a resolution was adopted by this Board at said meeting of October 2, 1943, authorizing
conveyance of the University's one-half undivided interest in said 10 acre tract to Tung Land Development
Company, in consideration of the release by that Company of its rights under the contract aforesaid. And
on October 29, 1943, a similar resolution was adopted by the Board of Visitors of The Virginia Military
Institute authorizing conveyance of its one-half undivided interest in said 10 acre tract to said Company,
upon like consideration.
Pursuant to these resolutions a deed was prepared, executed on behalf of The Virginia Military
Institute and the University, and was delivered to and accepted by said Tung Grove Development Company by
which said 10 acre tract was conveyed to said Company for the consideration above set out, said Company
uniting in said deed and releasing all of its rights under the contract of May 31, 1940.
The Virginia Military Institute and The University of Virginia still own the other two tracts
of 20 and of 40 acres, respectively, in Marion County, Florida, and it would seem advisable that some
action be taken at once looking to the future management, lease, sale or partition of these two tracts of
land.
AS TO THE SHARES OF STOCK
The stock certificates of the various mining Companies listed above are all of course in the
name of Mazyck Wilson Shields. Mr. Mahlon C. Masterson, Attorney for Mr. Marshall, the Administrator,
and I have made a thorough investigation as to the present value of these stocks and we are advised,
have ceased to exist, of others no trace can be found, and the administrator is unable to have actual transfers
of the certificates made even if some equitable basis of division between the two Institutions can be worked
out.
In view of this situation your Attorney suggests that some arbitrary method of division of these
worthless stocks be agreed upon so that final settlement of the estate may be effected as speedily as possible.
AS TO THE OIL AND GAS LEASES.
I am advised that all of these leases are paying small quarterly dividends or royalties and that the
appraised values as set out above were based in each case upon these returns. I am further advised by Mr.
Masterson that the Administrator has received an offer from Everets Drilling Company, of Dallas, Texas, to
purchase all of the leases for the sum of $267.00. The acceptance of this offer should be seriously considered,
or some method of division of these leases between the two institutions agreed upon.
After a full discussion of the several questions submitted in the foregoing report the following
resolutions were proposed, seconded and adopted -
1st.
By Mr. Garnett, seconded by Dr. Haden:
RESOLVED: That the question of management, lease, partition or sale of the one-half undivided interest
of The Rector and Visitors of the University of Virginia in the two tracts of land situated in Marion County,
Florida, containing 20 acres and 40 acres, respectively, and which passed to said University under the will of
Mrs Mazyck Wilson Shields, deceased, be and is hereby referred to a special committee composed of the Rector,
the President, and Dr. W. D. Haden, which committee is hereby given full power to manage, lease or to sell said
tracts of land, or either of them, for such amount and upon such terms as they may deem wise, or to make partition
of said two tracts or of either of them, so that The Virginia Military Institute and The University of
Virginia may each hold title to a portion of said land separate and apart from the other. And, in case of
lease or leases, sale or sales, or partition of said tracts of land, or of either of them, J. L. Newcomb,
President, is hereby expressly empowered and directed to execute in the name and on behalf of The Rector and
Visitors of the University of Virginia, any contract or contracts, deed or deeds by which the whole or any
part or parts of said lands are leased, conveyed, or partitioned, and E. I. Carruthers, Secretary, is hereby
expressly empowered to affix the corporate seal to any and all such contracts and deeds, to attest the same,
and to deliver such instrument or instruments on behalf of this Corporation.
2nd.
By Colonel Garnett, seconded by Haden:
RESOLVED: That in order to facilitate distribution of the residuum of the personal estate of the
late Mrs. Mazyck Wilson Shields, two lists of the mining stocks shall be made up, one of which shall be
Numbered I and shall include -
| (1) | 12,00 shares, Capital Stock, Jerry Johnson Gold, Inc., | 36.00 |
| (2) | 10,033 shares, Capital Stock, United States Mining & Milling Corporation | 601.98 |
| (3) | 16,000 shares, Capital Stock, Gold Producers, Incorporated | 40.00 |
| (1) | 900 shares, Class A, Capital Stock, American Gyro Co., Par 1 cent | None |
| (2) | 4,000 shares Capital Stock, Gold Dipper Mines, Incorporated, Par 1 cent | None |
| (3) | 1 share, Capital Stock, Jones County Drilling Company, Par $25 | None |
| (4) | 35,750 shares, Common Stock, Consolidated Gold Producers, Incorporated, Par 10 cents | None |
| (5) | 125 shares, Capital Stock, South Tintic Mines Company, Par 15 cents | None |
| (6) | 200 shares, Capital Stock, Standard Lily Extension Mines Company, Par 1.00 | None |
| (7) | 400 shares, Class A, common stock, Wrigley Pharmaceutical Company, Par 1.00 | None |
| (8) | 1 share, Preferred Stock, Acca Temple Building Corporation, Par $100 | None |
| (9) | 1,500 shares, Capital Stock Consolidated Gold Producers, Incorporated, Par 10 cents | None |
And this Board hereby requests the Board of Visitors of The Virginia Military Institute to make
selection of the stocks described in either of said lists with the assurance on the part of this Board
that The Rector and Visitors of the University of Virginia will then be entirely willing to take the stocks
described in the other.
And after such selection has been made by the Board of Visitors of The Virginia Military Institute,
and the stocks designated upon the list not chosen by the Board of Visitors of The Virginia Military Institute
have been assigned and delivered the the University of Virginia, J. L. Newcomb, President of the University
of Virginia is hereby authorized and empowered to execute and deliver to Richard C. Marshall, Administrator
d.b.n. c.t.a. of Mrs. Mazyck Wilson Shields, deceased, a receipt which shall give said Administrator a full
and complete acquittance and discharge from further liability with reference to the share of the University of
Virginia in all of the shares of stock held in the residuum of the estate of said Mazyck Wilson Shields, deceased.
And be it further
RESOLVED: That The Rector and Visitors of the University of Virginia hereby offers to purchase from
The Virginia Military Institute its one-half undivided interest in the following oil and gas leases, that is to say
| PROPERTY | FRACTIONAL INTEREST |
PRESENT APPROX. VALUE |
| Crews | 11/10,000ths | 24.75 |
| Laird | 14/ 7,500ths | 105.00 |
| West Cole | 4/ 8,750ths | 14.00 |
| Dean Cole | 5/ 2,500ths | 16.25 |
| Jamison | 15/ 5,000ths | 22.50 |
| Christian & 2nd Half | 10/ 2,500ths | 40.00 |
| Joe Lee | 8/ 7,500ths | 12.00 |
| Muckelroy Heirs | 3/ 2,500ths | 7.50 |
| M. Bryson | 50/ 5,000ths | 25.00 |
| $267.00 |
has been offered for them, and which at this time is believed to be all said leases are worth. And
The Rector and Visitors of the University of Virginia also hereby offers to sell its one-half undivided interes
in said leases to said The Virginia Military Institute for the sum of $133.50 in cash.
If said offer to purchase the interest of said Institute in said leases is accepted by said
Institute, J. L. Newcomb, President of this Corporation, is hereby authorized to make payment therefor
and to take from said Institute an assignment of its interest in said leases, and upon receipt of such
assignment from said Institute and receipt of said leases properly assigned by said Administrator, said
J. L. Newcomb, President, is hereby authorized and empowered to execute and deliver to said Richard C.
Marshall, Administrator d.b.n. c.t.a. of Mazyck Wilson Shields, a receipt therefor, which shall give said
Administrator a full and complete acquittance and discharge from further liability with reference to all
of said leases.
If said offer to sell said University's interest in said leases is accepted by said Institute,
then J. L. Newcomb, President of this Corporation, is hereby authorized and empowered to execute and to
deliver to said The Virginia Military Institute such assignment or assignments of each and of every one
of said leases as may be necessary to transfer to said Institute all right, title and interest of said
The Rector and Visitors of the University of Virginia in and to said leases and to each one of them, and
E. I. Carruthers, Secretary of this Corporation, is hereby authorized and empowered to affix the corporate
seal to each and to every such assignment so executed by said President.
And it was further
RESOLVED: That two lists of the oil and gas leases shall be made up, one of which shall be
numbered One and shall include -
| Property | Fractional Interest |
Present Approx. Value |
|
| Laird | 11/10,000ths | 105.00 | |
| Dean Cole | 5/ 2,500ths | 16.25 | |
| Joe Lee | 8/ 7,500ths | 12.00 | |
| Total — | $ 133.25 |
and the other shall be numbered Two, and shall include -
| Crews | 11/10,000ths | 24.75 | |
| West Cole | 4/ 8,750ths | 14.00 | |
| Jamison | 15/ 5,000ths | 22.50 | |
| Christian & 2nd Half | 10/ 2,500ths | 40.00 | |
| Muckleroy Heirs | 3/ 2,500ths | 7.50 | |
| M. Bryson | 50/ 5,000ths | 25.00 | |
| Total — | $ 133.75 |
And this Board hereby requests the Board of Visitors of The Virginia Military Institute, if
said Board does not favor purchase or sale in accordance with the foregoing resolution, to make selection
of the oil and gas leases described in either of said lists, with the assurance on the part of this Board
that Rector and Visitors of the University of Virginia will then be entirely willing to take the oil and
gas leases described in the other list.
And if such selection is made by the Board of Visitors of The Virginia Military Institute and
the oil and gas leases designated upon the list not chosen by the Board of Visitors of the Virginia
Military Institute are assigned and delivered to the University of Virginia, J. L. Newcomb, President of
the University, is hereby authorized and empowered to execute and deliver to Richard C. Marshall, Administrator
d.b.n. c.t.a., of Mrs. Mazyck Wilson Shields, deceased, a receipt which shall give said
administrator a full and complete acquittance and discharge from further liability with reference to the
share of the University of Virginia in all of the oil and gas leases held in the residuum of the estate
of said Mazyck Wilson Shields, deceased.
The meeting then adjourned.
Rector.
Secretary.
| Board of Visitors minutes January 20, 1944 | |