Caption: Board of Trustees Minutes - 1944
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1943] UNIVERSITY OF ILLINOIS HARRIETTE A. W R I G H T ESTATE SOI Assets 455 acres at #200. {91 000 Mortgages 30 300 $ 60 700 00 DeKalb home 6 00O 00 Personal property on farms 20 000 00 4391 shares Northern 111. Finance Corp. Com 43 910 00 900 shares Northern 111. Finance Corp. Pfd 19 800 00 Liabilities and Bequests House Mortgage No. 1 farm Equity No. I farm Viola Milling Harley Self Helen Stahl Betty Wright Attorneys' fees Executor's fees Taxes Loans $ 6 14 21 10 12 10 5 17 10 8 15 000 000 700 000 000 000 000 100 000 000 000 00 00 00 00 00 00 00 00 00 00 00 S150 410 00 S128 800 00 President Livingston stated that the purpose of the meeting was to discuss the terms of a possible settlement out of court which would be fair and equitable to all parties concerned and could be made the basis of a recommendation from the committee to the Board of Trustees. A full and extended discussion of all phases of the matter followed. At the end, the following memorandum was drawn up and signed by all persons present (Mr. Moudry had withdrawn during the evening) as a basis for a settlement of the claims of the University under the wills: MEETING UNIVERSITY CLUB J U L Y 26, 1943 SPECIAL COMMITTEE ON H . G. W R I G H T AND HARRIETTE W R I G H T ESTATES COMPROMISE W R I G H T ESTATE B A S I S OF AGREEMENT 1. Agreed that 750 acres of land of the H . G. Wright estate subject to mortgages of $43,125—(net total $106,875) plus $66,800 in cash or land, all at $200 an acre—or a total cash value in land of $173,675 be effected and accepted as University's part in the settlement of the H. G. and Harriette Wright estates, the University to have first choice of farms and the executor of the estate of Harriette W r i g h t to select No. 2, and alternate until full satisfaction of total acreage is made. If there shall be any variation up or down in the net valuation of the H . G. Wright estate from $269,000 after bequests of 3500 shares of Northern Illinois Finance Corporation stock are paid, the amount to be received by the University of Illinois shall be increased or decreased proportionately. 2. Settlement is predicated on payment of all legacies in the Harriette Wright estate and on the distribution to the specific legatees in the H a r r y G Wright estate of the stock of the Northern Illinois Finance Corporation provided under his will and the securing of releases therefor. 3. Selection of land and adjustment of values to be made by October I, 1943. 4. As to any farm on which insurance shall be or has been collected for fire or other casualty, proceeds shall be paid to party selecting this farm. 5. It is understood that possession will be taken as of March 1, 1944, by the party making the selection, and this party shall be entitled to rents from that date and shall pay 1944 taxes payable in 1945 and insurance premiums from March 1, 1944. 6. All suits now pending in Circuit Court of DeKalb County shall be dismissed on consummation of this agreement, and terms herein stated shall be embodied in a stipulation to be signed by respective parties. This agreement is
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