Repository: UIHistories Project: Board of Trustees Minutes - 1926 [PAGE 173]

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170

board of trustees

[February 11

EXECUTIVE COMMITTEE MEETING, FEBRUARY 11, 1925 A meeting of the Executive Committee of the Board of Trustees

the University of Illinois was held at 10 o'clock a. m. on Wednesday, February 11, 1925, at the Blackstone Hotel, in Chicago. The same persons were present as at the meeting of the Board on the same day. PURCHASE OF O R G A N Director Stiven for the committee on the purchase of an organ for the recital hall made a report of progress. MATTERS PRESENTED BY PRESIDENT KINLEY The Executive Committee considered the following matters presented by the President of the University. PURCHASE OF LOT 22, COLLEGE PLACE, COMPLETED (i) The Comptroller reports the completion of the purchase of lot 22 in College Place for $8925, subject to general taxes for 1924 and a special lighting assessment of $47.04, which has been paid. This report w a s received for record. RELEASE DEED OF MORTGAGE ON MEDICAL BUILDING (2) The Comptroller reports on this matter as follows: January 30, 1925 President David Kinley, University of Illinois M y Dear President Kinley: I take pleasure in advising you that I have at last been able to secure from Doctor Frank B. Earle, Trustee, a release deed of the mortgage on the Medical Building covering the bond issue outstanding against the building when the property was taken over by the University. These bonds were paid in the Fall of 1921 in accordance with the action of the Board of Trustees on October 12th of that year. It was never possible, however, to locate the interest coupons paid by the College of Physicians and Surgeons. The Trustee, therefore, hesitated to sign a release deed until now when all the missing coupons are outlawed. I a m having the release deed filed and the abstract to the property brought down to date, showing the title of the Board of Trustees free of encumbrance. Very truly yours, Lloyd Morey Comptroller This report w a s received for record.

PURCHASE OF MITCHELL-WALCOTT PROPERTY COMPLETED

(3) The following report from the Comptroller: February 2, 1925 President David Kinley, University of Illinois M y Dear President Kinley: I beg to advise that all payments due on our contract for the purchase of the property at 1117 Nevada Street, Urbana, known as the Mitchell-Walcott property, have been completed and I have received from Mr. Walcott a Warranty Deed in accordance with the contract, which deed has been filed for record (see Minutes of the Board of Trustees, January 12, 1924, and February 14, 1924). Cordially yours, Lloyd Morey Comptroller This report w a s received for record.