Repository: UIHistories Project: Board of Trustees Minutes - 1926 [PAGE 144]

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1924]

UNIVERSITY OF ILLINOIS

141

EXECUTIVE COMMITTEE MEETING, DECEMBER 18, 1924

A meeting of the Executive Committee of the Board of Trustees of the University of Illinois was held at 1 p. m. on Thursday, December 18, 1924, at the Chicago Athletic Club. Dr. W . L. Noble, Mrs. Laura B. Evans, Mr. Merle J. Trees, and President David Kinley were present. PURCHASE OF ELLS LAND President Kinley presented the following communication. At the meeting of July 14, 1924, a recommendation to purchase the Ells land at the price of #850 per acre was approved by the Board, and an appropriation of #40,000, or so much thereof as may be necessary, was made from the Legislative appropriation of #60,000 for the purchase of land. The Executive Committee was authorized to make the purchase. At the meeting of the Board, September 26, 1924, the Executive Committee made a report on this matter (see page 46 of minutes) and the Board accepted an option for the purchase of the land. The "Legal Counsel was instructed to proceed to close the purchase." The Legal Counsel now makes the following report to me under date of December 16. December 16, 1924 President David Kinley, Administration Building Dear Sir: IN R E Purchase of the Ells Land In accordance with agreement made with Carrie M . Hodges, Margery Hodges, and Harry Ells, drafts for a deed to the Board of Trustees was forwarded to the grantors for acknowledgment. Same has been deposited in escrow at the First National Bank, Los Angeles, California, to be delivered on payment of the contract price ($39,329.50) less the amount necessary for revenue stamps and $80 to the Twin City Abstract Company for making abstract. I have just received a telegram from the First National Bank of Los Angeles which says, "We hold deed from Carrie M . Hodges and others conveying certain property in Champaign County, Illinois, to Board of Trustees of University which has been inspected and approved by George M . Harker. On receipt your warrant for #39,329.50 less #39.50 for revenue stamps and less bill of title company of about #80, bill to accompany warrant, we are instructed to forward deed to David Kinley." Our proposal to have the deed put in escrow with the Trevitt-Mattis Banking Company was declined by Harry Ells, one of the grantors, who stated that he would consent to the deed when executed being put in escrow only with some bank or trust company in Los Angeles. It was then arranged that the deed when acknowledged and turned over to the First National Bank should be examined by George M . Harker, a practicing attorney of Los Angeles, for approval. George M . Harker holds duplicate copy of a draft of the deed with instructions that the deed so deposited is to be an exact copy of the duplicate. I am of the opinion, therefore, that the Board of Trustees or the Executive Committee i authorized to direct the Comptroller to send a state warrant for s #39,210 to the First National Bank of Los Angeles to be delivered on the delivery of the deed to the grantee. Very truly yours, O. A. Harker Legal Counsel I now lay the mailer before the Executive Committee for action.