University of Virginia Library

SECURITIES TO BE RETAINED BY THE PEOPLES NATIONAL BANK OF CHARLOTTESVILLE.

RESOLVED that since the deeds of trust, mortgages, notes, bonds, and other papers in connection with the
real estate loans in the portfolio of the Consolidated Endowment Fund of the University of Virginia largely
concern loans secured by Charlottesville real estate with a few loans secured by New York real estate.

And since these loans can more readily be handled by the Bursar with the advice and counsel of Charlottesville
business men than by the State Planters Bank & Trust Company of Richmond

That the papers in connection with these loans be retained by the Peoples National Bank of Charlottesville,
as custodian under the terms of the existing contract, and not turned over to the State Planters Bank &
Trust Company, and that those papers in connection with these loans in the hands of other custodian banks
be likewise turned over to the Peoples National Bank of Charlottesville, also to be held as aforesaid,
so that they may be more readily accessible to the Bursar in the handling of these matters.