Repository: UIHistories Project: Board of Trustees Minutes - 1956 [PAGE 247]

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244

BOARD OF TRUSTEES

[February 10

209. Frances Beck Hall Cancer Fund, $150 for research in the Department of Surgery. 210. James Hurlbut, $500 for research in the Department of Surgery. 211. Dr. Lester Kaplan, an alumnus of the College of Dentistry, $50 for prizes for excellence in clinical dentistry. 212. Dr. Gilbert G. Lapid, an alumnus of the College of Medicine, $100 to the National Fund for Medical Education account. 213. Dr. Leo F . Miller, $50 for orthopaedic research. 214. $1,130 from the following donors for the Miscellaneous Gift Fund in the Tumor Clinic: Lewis Root, $200; Mr. and Mrs. H a r r y Williams, $10; from donors in memory of Mrs. Lucille Sargent, $920. 215. Louise M. Rogers bequest, $1,000 for special duty nursing service to needy patients in the T u m o r Clinic. 216. Dr. W . H . Schwingel, $50 to the Orthopaedic Surgery Alumni Fund. 217. Victor S. Yarros, $300 for the Rachelle S. Y a r r o s Scholarship Fund. 218. Estate of Elise Stein, $3,133.38 for cancer research under the direction of Dr. W a r r e n H. Cole. Total, Funds Received from Individuals $12,113.38 Total, Chicago Professional Colleges $521,127.59 Chicago Undergraduate Division 219. Various donors, $175 to be added to the Stebinger Memorial Library Fund, to be used for the purchase of books for the Chicago Undergraduate Division. Total, Chicago Undergraduate Division $175.00 Grand Total $1,516,785.66

This report was received for record.

SALE O F T R U S T F U N D S E C U R I T I E S M r . Livingston, for t h e F i n a n c e C o m m i t t e e , s u b m i t t e d t h e following report: The Finance Committee has approved the sale of certain securities purchased in 1939 as an investment of funds received from the late Dr. A. F. Kaeser of Highland, Illinois, for student loans and in certain contingencies, student scholarships. At that time, the demand for student loans was not sufficient to use all of the funds then available for such purposes and some of those funds, including a part of the funds received from Dr. Kaeser, were invested. Due to the present demand for student loans, it is advisable to convert these assets into cash. The securities were purchased for $4829.70 and approximately $13,000 will be realized from their sale. Adoption of the following resolution is required to complete the sale: WHEREAS, the Board of Trustees of the University of Illinois is the owner of 54 shares of Caterpillar Tractor Company common stock, 50 shares of General Motors Corporation common stock, and 60 shares of Inland Steel Company common stock, and WHEREAS, it is the decision of said Board of Trustees that it is desirable to dispose of such securities, Now, therefore, be it resolved by the Board of Trustees of the University of Illinois, in a duly constituted meeting on February 10, 1955, that these securities be sold at the best price obtainable, and that H . O. Farber, Comptroller, and A. J. Janata, Secretary, be authorized to execute any and all documents required to complete such sale. The Finance Committee has approved the sale of 300 shares of American Tobacco Company common stock held as an investment of the Miller Endowment Fund and recommends the adoption of the following resolution: WHEREAS, the Board of Trustees of the University of Illinois is the owner of 300 shares of American Tobacco Company common stock, and WHEREAS, it is considered by said Board to be desirable to dispose of such stock,