Repository: UIHistories Project: Board of Trustees Minutes - 1944 [PAGE 751]

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748

BOARD OF TRUSTEES

[October 30

C H A N G E IN HOSPITAL AND MEDICAL S E R V I C E F E E (1) On April 29, 1943 (Minutes, page 325), the Board approved a recommendation from the Faculty Committee on Fees and Scholarships that there be established a uniform hospital and medical service fee of $5 a semester to be assessed all students in the Urbana departments beginning with the fall term of 1943. A number of requests have been received from students asking for exemption from the payment of the fee. Such requests have come mostly from ( a ) students taking a very limited amount of work, (b) those who live outside the University community and come to the campus to attend a single session a week (for example, high school teachers taking graduate courses on Saturdays), and (c) those who are participants in other group insurance plans covering hospitalization and medical fees. T h e Committee on Fees and Scholarships has considered these various requests and recommends to the Board of Trustees that all graduate and undergraduate students registered in the Urbana departments be assessed the hospital and medical service fee beginning with the fall term of 1943-1944, excepting the following groups: ( a ) extramural students; (b) correspondence students; (c) persons on appointment on the University staff or on the staffs of the allied surveys or laboratories on the Urbana campus; (d) visitors, i.e., those registered as visitors in classes; (e) students taking not more than one unit of graduate work or more than five hours of undergraduate work in a semester, or students taking not more than one-half unit of graduate work or more than three hours of undergraduate work in the eight-week summer session. T h e Committee recommends further that this modification be made effective beginning with the current semester. I concur in the Committee's recommendation, and recommend further that refunds of the hospital and medical service fee be made to those students in the categories specified above and who apply for the same. Moreover, in my judgment, this exemption should be extended and refunds made to students who submit evidence of participation in any other group insurance systems providing the same benefits as those covered by the required University fee, and I so recommend.

On motion of Mr. Davis, these recommendations were adopted.

B E Q U E S T O F HARRY L. H A N K E N S O N (2) As reported to the Board on July 28, 1043 (Minutes, page 441), the University is a residuary legatee in the estate of H a r r y L. Hankenson in the amount of $10,000. T h e bequest to the University becomes effective only after the death of certain survivors who will receive the income from the estate during their lifetime. One of the principal assets of the estate consists of stock in the Chicago Towel Company. This stock does not qualify as investments of trust funds and the Northern T r u s t Company, Trustee, would be obliged to liquidate these investments unless otherwise authorized by beneficiaries of the will. It appears that if such liquidation were carried out the income available to present beneficiaries would be materially reduced. T h e Trustee is willing to continue to hold present stocks until such time as it might deem it advisable to dispose of the same providing residuary legatees offer no objection. Judge Johnson points out that a trustee may continue to hold any investment received under a trust or any increase thereof without the necessity of liquidation and reinvestment in securities approved under the statute. H e advises that the Board has the power to assent to this procedure. The Trustee will apply to the appropriate court in Cook County for authority to continue to hold the securities. T h e Comptroller requests that he be authorized to notify the Northern T r u s t Company, Trustee of the H a r r y L. Hankenson estate, that it is agreeable to the Board that it continue to hold stocks of the Chicago Towel Company as a part of that estate until such time as within the sole discretion of the Trustee it might deem it advisable to dispose of the same.

Judge Johnson commented on this matter. On motion of Mr. Davis, the recommendation of the Comptroller was adopted.