Repository: UIHistories Project: Board of Trustees Minutes - 1874 [PAGE 93]

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Illinois

Industrial

University.

89

The members of the Faculty were called upon to give their opinion on the working condition and general satisfaction of the heating apparatus. Mr. Abbott, the representative of the firm of Messrs. Crane, Breed & Co. not being present, the business was laid over until 2 P. M. The rlading of the minutes of last meeting was dispensed with, they having been printed and published. The President, Hon. Emory Cobb, then read his report.

To the Board of Trustees of the Illinois Industrial University : As your Chairman I have been at a loss to know what you might expect of me at this time in the shape of a report. I have, however, concluded that a brief statement of our financial condition might be interesting and acceptable. At our July meeting, you will remember, we made estimates of our current income aud expenditures from that date to March 1, 1874, as follows: Income, including amount on hand $26, 644 93 Expenses 24,163 33 Leaving an estimated balance of $2, 481 60 This estimate did not include the Agricultural, Horticultural or Mechanical Departments. To these several departments we appropriated their current earnings. The treasurer reports on hand March 1, $2,048 08. By reference to the book-keepers statement, we find that— The Mechanical "Department, including the Carpenter Shop, has credit for $3, 067 91 And are charged 2,911 38 Leaving a balance in their favor of. $156 53 The Agricultural Department has credit for $4, 534 27 And is charged with , 3,560 62 Leaving balance of The Horticultural Department has credit for And is charged Making balance against Department of Experimental farm has credit for And is charged $973 65 $1,074 71 2,060 86 $986 15 $324 17 169 79

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Leaving balance of $154 38 These results are gratifying, and are mainly due to the hearty co-operation of the Regent, Faculty, and the heads of the various departments in assisting the Trustees in their efforts to establish as economical an administration of affairs as might be consistent with the objects and aims of the University. I herewith present a communication (marked Exhibit A) from Mr. J. O. Cunningham, attorney, giving information in regard to the suits that are now" pending against tke University. He desires some instructions in regard to them at this meeting of the Board. Our endowment fund remains the same as at our July meeting, it having been impossible to exchange any of our county bonds, as suggested in section 7 of the law approved May 7, 1873. In this connection I will state that the litigation which has taken place in regard to the validity of our Putnam and Kankakee county bonds, has thus far been favorable, and we now expect to realize the full face of our coupons as soon as the respective counties make arrangements for their payment Our Champaign county coupons due May 1, we are assured, will be paid when due. Our lands in Nebraska and Minnessota should perhaps be placed in the market. Our records of 1872 contain a full report in relation to them. The taxes for this year are provided for by State appropriation, approved April 27, 1873 Our 160 tract east of Urbana has been rented for the coming year at $3 per acre. 1 have a communication from Prof. Robinson (marked Exhibit B) referring in detail to the wants and management of the Mechanical Departmeut. I heartily concur in the recommendations and hope we may be able to make the appropriations called for at the expense, if found necessary, of some departments whose aims do not bear so directly upon industrial pursuits. The report of our Business Agent is herewith presented, which covers the current business relations of the University and the State appropriation account. The treasurer will furnish us during the present session with an estimate of income from this time to September first, and I recommend that appropriations for current expenses be made u\) to that date The re-employment of Head Farmer, Superintendent of Horticultural Farm, and Mr. Hays, now in charge of Green House and University grounds, will require your attention. I recommend that Prof. Shattuck be retained as Business Agent upon the same terms as at present. The committee appointed at our July meeting to report a curriculum in keeping with certain resolutions x^resented by J. P. Reynolds, and adopted, have not yet reported. We hope they will do so at this session, so that any changes they may recommend may be published in our annual catalogue and take effect at the commencement of next University year. The Regent will doubtless recommend the engagement of a professor of Agriculture for the coming year. I am of the opinion that such a professor should be engaged, and that steps should be taken at once tp that end. All of which is respectfully submitted. EMORY COBB.