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Caption: Board of Trustees Minutes - 1944
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504 BOARD OF TRUSTEES [AugUSt 31 RENEWAL OF BOILER A N D MACHINERY INSURANCE (11) Boiler and Machinery insurance for the University is now placed with the Lumbermens Mutual Casualty Company as per action of the Board, April 17, 1941. On February 20, 1943, the Board approved the plan of carrying such insurance in mutual companies. T h e present insurance expires May 1, 1944. Indications point to a possibility of an increase in rates for this type of insurance. T h e Lumbermens Casualty Company is ready, at this time, to cancel the present policy pro rata and rewrite the coverage under a new form of policy for three years at a total premium cost of approximately $6,982.62. Allowing for return premium on the present policy and for policyholder's dividend, the immediate cash outlay for the new policy would be $1,848.90 against which an estimated dividend of 20% or $1,396.53 is expected at the expiration of the policy. ( T h e premium cost for the present policy totals $12,248, and the expected dividend at 20%, $2,449.60.) The Purchasing Agent and the Comptroller recommend approval of this proposal. T h e Comptroller presented this matter. D u r i n g the presentation, P r e s i d e n t L i v i n g s t o n w a s called f r o m the r o o m a n d D r . M e y e r w a s in t h e c h a i r . O n m o t i o n of M r . D a v i s , t h i s p r o p o s a l w a s a p p r o v e d a s r e c o m mended. REPORT OF FINANCE COMMITTEE Mr. Davis, for the Finance Committee, presented the following report: On advice of investment counsel, the First National Bank of Chicago, the following securities were sold: $12,000 Central Power and Light Co., 1st 3j4's of 1969 at 107%. On recommendation of the First National Bank of Chicago the following purchases were made: $20,000 Kentucky Utilities Company, ist 4's of 1970 at 108; $10,000 Wilson and Company, ist 3 % of 1958 at 101. For further investments, the Committee recommends: $25,000 U. S. Bonds 2j4%, Series G, at p a r ; $25,000 Kansas Power and Light ist 3 ^ % 1969, at about 109. On motion of Mr. Davis, these transactions were approved and confirmed, and investments were authorized as recommended. At this point, President Livingston returned and resumed the chair. REPORT OF COMMITTEE ON CIVIL SERVICE AND EMPLOYEES Mr. Jensen, for the Committee on Civil Service and Employees, presented the following report from the faculty committee on Civil Service. August 19, 1943 PRESIDENT A. C. W I L L A R D : T h e University Civil Service Committee submits recommendations for wage adjustments for employees in the Chicago departments as follows: (1) Changes in the scales of pay for Supervising Nurses, Head Nurses, Staff Nurses, Orderlies, and Nurse's Aides, as per Schedule I attached, and food service employees in the Dietary Department of the Hospital, as per Schedule II attached, recommended by the Business Manager of the Chicago colleges and concurred in by the Executive Dean. (2) Changes in rates for Laundry and Housekeeping employees, recommended by the Director of the Physical Plant. The Department of Public Welfare is making adjustments along similar lines for similar employees in institutions under its management, some of which are in the same group with University departments in Chicago. T h e principles followed for the two divisions are the same, and the scales of compensation are comparable for similar services. T h e proposed scales for Supervising and Head Nurses provide an increase of $10 per month over those in force for the past two years. F o r Staff Nurses, Orderlies, and Nurse's Aides, a larger adjustment is proposed in order to pro-
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