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Caption: Board of Trustees Minutes - 1932
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272 B O A R D O F TRUSTEES [June 15 Trees, M r . Williams; no, none; absent, M r . Blair, M r . E m m e r s o n , M r s . Hopkins. INVESTMENT OF TRUST FUNDS (8) A report from the Comptroller that there is at present the sum of ?4,593-67 in endowment funds uninvested, due largely to the payment of a farm mortgage on M a y 1, and he recommends the purchase of $4,000 of Alabama Power Company, first mortgage, five per cent bonds at a price of 104^ or better and $500 of Central Illinois Public Service Company,fiveper cent bonds, at an estimated price of 101 or better. To avoid any further delay and consequent loss of interest he requests that action on this be taken by the Board without reference to the Finance Committee since that Committee has previously recommended the purchase of these bonds, which are strictly legal investments of trust funds, on another occasion. I concur in this recommendation. O n motion of M r . Trees, this recommendation w a s approved. UNUSUALLY HAZARDOUS EMPLOYMENT OF J. W. LLOYD A N D H. M. NEWELL (9) A request from the Dean of the College of Agriculture that J. W . Lloyd and H. M . Newell in the Department of Horticulture be authorized to engage in certain studies of fruit-handling and marketing which will involve riding on freight cars, being about railroad yards, and at times riding inside of refrigerator cars for short distances; and that specific recognition be given to the unusually hazardous character of the work. These studies are conducted throughout the summer and early fall, I recommend that this work be recognized as unusually hazardous but necessary to the studies carried on by the University and that Messrs. Lloyd and Newell be authorized to engage in it. O n motion of M r s . Evans, this recommendation w a s adopted. KENDRIC C. BABCOCK TRUST (10) A report from the Comptroller that pursuant to the action of the Executive Committee on M a y 21 he has received from Dr. Kendric C. Babcock the following securities representing the Kendric C. Babcock Trust, with an estimated principal of $50,440, which have been deposited with the Treasurer of the University, who has given receipt for the same: LIST OF SECURITIES PRESENTED TO CONSTITUTE THE KENDRIC C. BABCOCK TRUST Bonds Chicago & West Towns Railway Company, First Mortgage Gold Bond, 7 % of 1932 $1 000 00 Illinois Water Service Company, First Mortgage, 5 % of 1952 2 000 00 Berlin City Electric Company, Inc., Thirty-year Sinking Fund Debenture, 6 K % of 1959 5 000 00 Illinois Orchard Company, First Mortgage, 7 % of 1932 1 500 00 Illinois Power & Light Corporation, First Mortgage and Refunding, 6 % of 1953 2 000 00 Real estate note, Lois A. Boyden; John H. Boyden, 7 % of 1931 6 440 46 Bloomington, Decatur & Champaign R.R., First & Refunding Mortgage, 5 % of 1940 6 000 00 Alumni Association of Delta Phi (Tau Chapter),First Mortgage, 6 % of 1934 5 000 00 Real estate note, Joseph D. Nally, 6 % of 1932 3 500 00 Real estate note No. 18, Kappa Kappa Gamma (Beta Lambda Chapter), First Mortgage, 6 % of 1937 1 000 00 The Kansas Power & Light Company, First Mortgage Gold Bond, 5 % of 1957 5 000 00 LaEnglandSpringfield &Corporation, M3057-8,ofRefunding °f '954 l 42°°° °° Salle-Wacker of AlphaPeoria R.R., First and % of 1954 Mortgage, °°°000 00 Bldg. Kappa Lambda, 6 % 6 1938 sH% New a m 5 a Alumni G m % of Power Association, Gold Debenture, St. Louis, 1939 1 000 00 00
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