Repository: UIHistories Project: UI Library School Alumni Newsletter - 25 [PAGE 3]

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Alumni L

News

Letter

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tilth annual scholarship of $3(X).00 was paid to the University in March. t r use during 1W7-1W8. Iphe resources of the fund at present in the hands of the Truttcct arc: i\A per cent stock certificate, Commercial Building and Loan n Association Urbana, I l l i n o i s . . . . . , . $5000.(K) 5 per cent bonds, University of Illinois Women s Club 2000.00 On deposit in Bowery Savings Bank, New York City 158.76 Total $7158.76

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Reported, May 1,19361936 May 311937

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Total to date

ources of this amount: From Life memberships and special contributions, augmented by authorized advance of $506.00 from the general treasury in 1927 $5571.00 From interest collections 2381.10 Less scholarships paid (1200.02)

$295.00 411.68 (300.00)

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$6752.08

$406.68

$5866.00 2792.78 (1500.02) $7158.76

Respectfully submitted,

J O H N S. CLEAVINGER

ADAH PATTON MEMORIAL

FUND

At the Association meeting the treasurer reported that the fund had reached $2055. Since then $198 has been subscribed to the Illini Foundation payable to the fund, so that the total sum to date is $2253. At the meeting of the Board in September Arnold H. Trotier, head of the catalog department of the University of Illinois, was elected secretary-treasurer. LIFE MEMBERSHIPS Esther Peterson, B.S. '28, Catalog department, University of Minnesota Library is the latest name to add to the honor roll. It is important that the alumni should not lose sight of the fact that it is necessary to increase the amount of our Endowment Fund so that the interest from it may continue to be sufficient for the scholarship grant. While we are at present fortunate in having our money invested so that the yield just about covers the $300 needed each year, the ever lower tendency in interest rates, j^nich it is possible to obtain on safe investments, may at any time reduce the [amount below the minimum. j This alumni scholarship has really meant so much to the holders and so |much to the school as an evidence of the interest of the alumni in advanced professional training, that it has been more than worthwhile. | T H E ILLINOIS FOUNDATION . Xo doubt you have all been receiving literature in regard to the University |°* Illinois Foundation and it is probable that most of you have laid it aside thinking, "What can that mean to me? Illinois has all the loyalty that T owe to h ! e sound professional training which I received there, but I haven't the least Mention of contributing to a Union Building." In order to place the purpose |°* the Foundation more properly before you, the following explanation is made, '"he University of Illinois Foundation was organized a tew years ago as a s '""t of subsidiary to the Alumni Association and to the University, in order to car e for some matters which the other two bodies, as organized, can not conveniently nor effectively handle. Their first major project is the Illini Foundation Fund, and it is in connection with the campaign for the Fund that appeals bavejonc to the Library School alumni as well as to all others. The permanent character of the Foundation and tin fact that they are askin I for money not only for a Student Union building but also for scholarships,