Repository: UIHistories Project: Board of Trustees Minutes - 1932 [PAGE 573]

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UNIVERSITY OF ILLINOIS

571

On motion of Mr. Trees, the following resolution was adopted, by the following vote: Aye, M r . Armstrong, M r . Barr, M r . Barrett, Mrs. Grigsby, Mrs. Hopkins, Dr. Noble, M r . Trees; no, none; absent, M r . Blair, M r . Emmerson, Mrs. Evans, M r . Williams. RESOLUTION W H E R E A S , Anna N. Kendall did on the 17th day of November, A.D. 1909, by Warranty Deed, convey to the University of Illinois the described land, to wit: Commencing at the Northeast corner of the Northwest quarter of Section Thirty-six (36), Township Eighteen (18) North, Range Ten (10) East of the Fourth (4th) Principal Meridian, County of Bureau and State of Illinois, thence West along the North line of said quarter section sixty (60) rods, thence Southfifty-threeand one-third (53V$) rods, thence East sixty (60) rods, thence North along the East line of said quarter sectionfifty-threeand one-third (53I/3) rods to the point of beginning, comprising a tract of twenty (20) acres more or less, situated in the County of Bureau in the State of Illinois, which deed provided that when the grantee ceases to use the same for two years as an agriculture experiment station, then the ownership of said land shall revert to the grantor, her heirs and assigns forever, which deed was accepted by the University of Illinois and recorded in the Recorder's office of Bureau County, Book 155, on page 198, and, W H E R E A S , the said University has discontinued the use of the said land for agricultural experiments, therefore, the said land ceases to be useful to the said University, T H E R E F O R E , B E IT R E S O L V E D by the Board of Trustees of the University of Illinois, in a meeting regularly assembled, that i renounce all title t and rights derived through and under said deed and direct the President and the Secretary of this Board of Trustees to execute and deliver to Anna N. Kendall, a Quit Claim Deed reconveying to her a l rights in the said land, l affixing the seal of the said University to the said deed and the officers and agents of the said University of Illinois are hereby directed to surrender up the possession of said land and forever abandon the same. ARTHUR R. HALL. ATTORNEY'S FEES (20) A statement from Mr. Arthur R. Hall, attorney-at-law in Danville, concerning his services as attorney for the Carter-Pennell Trust. Some of the services rendered by Mr. Hall were also in the interests of all the other permanent funds held by the University. The University Counsel and Comptroller have examined his report and recommend that he be allowed a fee in the amount of $1,000; $500 to be chargeable to the income from the Carter-Pennell Trust, and $500 to all permanent funds held by the University proportionate to the amount. O n motion of M r . Armstrong, this bill w a s allowed, to be paid from the Reserve and Contingent Fund. T h e appropriation was m a d e by the following vote: Aye, M r . Armstrong, M r . Barr, M r . Barrett, Mrs. Grigsby, Mrs. Hopkins, Dr. Noble, M r . Trees; no, none; absent, M r . Blair, M r . Emmerson, Mrs. Evans, M r . Williams. REPORT ON CARTER-PENNELL FARMS (21) The annual report on the operation of the Carter-Pennell Farms for the year ended February 29, 1932:

NINTH ANNUAL REPORT CARTER-PENNELL FARMS

March I, 1931, to February 29, 1932 There was a net income of $105.01 from the two Carter-Pennell farms for the year ending February 29, 1932. Both farms showed good crop production for the past year. The decline in prices, however, made i necessary to inventory t the crops on hand at about one-half of their value a year ago, and the marked