Caption: Board of Trustees Minutes - 1934
This is a reduced-resolution page image for fast online browsing.
EXTRACTED TEXT FROM PAGE:
368 BOARD OF TRUSTEES CONTRACT FOR COAL [July lO (37) A letter from the Comptroller: President H. W. Chase, 355 Administration DEAR PRESIDENT CHASE: I transmit herewith a report from Mr. Edwards on bids secured by him for the contracting of a portion of our coal requirements for the coming year. You will note that the results of this inquiry were submitted to Mr. Barrett, President of the Board, who directed that a contract be made with the Penwell Coal Company, the low bidders. This company has been advised that its proposal has been accepted and a contract is in preparation. I presume that this report of what has been done in this respect should be submitted to the Board of Trustees. This arrangement will put under contract approximately 60% of our coal requirements for the Urbana-Champaign plant for the coming season. The price is a favorable one, being approximately lo£ per ton under the average delivery price of all coal purchased for that plant for the past three years. I have been in touch with the proceedings on this matter throughout and believe that the arrangement is a desirable one from every standpoint. Cordially yours, LLOYD MOREY Comptroller This report was received for record. SALARY O F ACTING PRESIDENT D A N I E L S President Barrett presented the following report: As Chairman of the Special Committee appointed for the purpose of making a recommendation to the Board on the salary of Arthur H. Daniels as Acting President of the University, I wish to make the following report: The Committee met at the Union League Club on Monday; those present being Mrs. Hopkins, Walter Williams, George Barr, and Edward E. Barrett. Dean Daniels also attended. After some discussion it was agreed to recommend to the Board that the salary of the Acting President be made $15,000 per year. Also, that the entertainment and incidental allowance in connection with the President's house be made as heretofore, $3,500. EDWARD E. BARRETT Chairman On motion of M r . Barr, this report was adopted. F I N A N C I A L ORGANIZATION On motion of Mr. Barr, the Finance Committee was discharged from consideration of the financial organization of the University, according to an action of the Board taken September 17, 1930. COMPENSATION O F TREASURER On motion of Mr. Armstrong, the Finance Committee was discharged from consideration of the compensation of the Treasurer, according to an action of the Board on September 29, 1931. FINANCING RETIRING A L L O W A N C E S A N D DEATH BENEFITS The Finance Committee was discharged from consideration of a method of financing retiring allowances and death benefits. REPORTS O F T H E F I N A N C E COMMITTEE Mr. Trees, for the Finance Committee, reported on three matters as follows:
| 
