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Caption: Board of Trustees Minutes - 1918
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1917] President Edmund, UNIVERSITY OF ILLINOIS March 13, 1917 J. James, University of Illinois 249 DEAR PRESIDENT J A M E S : In my letter of February twenty-seventh I recommended a schedule of insurance for the Medical and Dental Buildings totalling $360,000. In going further into the matter, I find that under the provisions of the mortgages we must carry insurance on the Medical Building amounting to $165,000, whereas in the schedule above referred to I suggested $155,000 for the Medical Buildings. At the last meeting of the Board, insurance to a total amount of $320,000 was authorized. If this limit is held to, the amounts available for insurance on the contents of the buildings will be very low on account of the amounts necessary for the buildings according to the mortgages. I would recommend therefore that I be authorized to place the following insurance, and that an appropriation of $3500 more or less be made for this purpose: Rate for Total Amount of Five Amount of Policy Years Premium Policies running to Trustees of mortgages Medical Building $165,000.00 $1.00 $1,650.00 Dental Building 75,000.00 1.25 937-50 Policies running to the Board of Trustees of the University Medical Building Contents Dental Building Contents Totals 102,000.00 18,000.00 $360,000.00 1.25 1.50 1,275.00 270.00 $4,132.50 The approximate amount standing to our credit at the present time on policies which are now in force is $632.50, so that the actual cash outlay necessary to put into effect insurance along the above lines will be approximately $3500. Cordially yours, LLOYD MOREY Acting Comptroller On motion of Miss Watson, the action of February 21, 1917, (page 238), was reconsidered, and the President of the University was authorized to instruct the Comptroller to place insurance on buildings and contents amounting to $360,000. The vote was as follows: Ayes, Mr. Abbott, Mrs. Evans, Mrs. Henrotin, Mr. Hoit, Mr. Taggart, Mr. Ward, Miss Watson; noes, none; absent, Mr. Blair, Mrs. Busey, Mr. Carr, Mr. Lowden, Mr. Trevett.
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