University of Virginia Library

REPORT OF FINANCE COMMITTEE

Mr. Barron F. Black, Chairman of the Finance Committee, presented an oral report to the Board informing
the members that the committee had made an investigation of the qualifications, services offered, charges,
etc., of most of the larger banks of the State of Virginia to act as financial advisor and custodian
for the Consolidated Endowment Funds of the University of Virginia, and that the committee, for various
reasons, had selected the State Planters Bank and Trust Company of Richmond, and that the committee
asked that it be directed and authorized to prepare a contract between the State Planters Bank and
Trust Company and the University which would set up the relations of the former as financial advisor
and custodian, and the committee was authorized to have such a contract prepared. (See Amendment below.)