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Caption: Board of Trustees Minutes - 1952
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1356 BOARD OF TRUSTEES REPORT OF THE EXECUTIVE COMMITTEE [February 22 The Secretary presented the following report. Meeting of the Executive Committee of the Board of Trustees of the University of Illinois February 14, 1952 On call of the Chairman, a meeting of the Executive Committee of the Board of Trustees of the University of Illinois was held in the Illini Center in the LaSalle Hotel, Chicago, Illinois, on Thursday, February 14, 1952, beginning at 11:00 a.m., for the purpose of awarding the issue of the new University of Illinois $1,750,000 Urbana-Champaign Residence Halls Bonds, Series of 1952. Mr. Park Livingston, Chairman, and Mrs. Frances B. Watkins of the Executive Committee were present; also present were President George D. Stoddard, Mr. Lloyd Morey, Comptroller, Mr. C. W. Weldon, Treasurer, Mr. H. O. Farber, Assistant Comptroller, Mr. P. Alden Bergquist, Assistant Cashier of the Bond Department of the First National Bank of Chicago, Mr. A. J. Janata, Secretary of the Board, and several representatives of investment bankers bidding on the bond issue. The following bids, received pursuant to public notice, were opened: Bidder John Nuveen & Co. Stranahan, Harris & Co. Dempsey & Company Merrill, Lynch, Pierce, Fenner & Beane A. C. Allyn & Company, Inc. Hornblower & Weeks Stifel, Nicolaus & Co., Inc. R. J. Edwards, Inc. Interest Rates Net Interest Cost Effective Interest Rate 3 % and i%% ?979 177 50 3.08305% Blyth & Co., Inc. The Milwaukee Co. Harris, Hall & Co., Inc. F. S. Yantis & Co., Inc. $1 019 823 75 3.211% First of Michigan Corp. 3%, 3K%> F. S. Moseley & Co. and 4% Farwell, Chapman & Co. Paul H. Davis & Co. Burns, Corbett & Pickard, Inc. McDonald-Moore & Co. White, Weld & Co. B. J. Vanlngeh & Co. Paine, Webber, Jackson & Curtis $1 039 850 00 3-33% Central Republic Company, Inc. 3%, Z%%, The Illinois Company and 3 # % Blunt, Ellis & Simmons Bacon, Whipple & Co. Mullaney Wells & Co. Comptroller Morey stated that the bid of John Nuveen and Company, representing a syndicate of bidders, meets all of the conditions of the bidding and represents the lowest interest cost to the University. On motion of Mrs. Watkins, the Executive Committee voted to award the bond issue to John Nuveen and Company and Associates, including also: Stranahan, Harris, and Company; Dempsey and Company; Merrill, Lynch, Pierce, Fenner, and Beane; A. C. Allyn and Company, Inc.; Hornblower and Weeks; Stifel, Nicolaus, and Co., Inc.; and R. J. Edwards, Inc. John Nuveen and Company later designated the American National Bank
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