Repository: UIHistories Project: Board of Trustees Minutes - 1892 [PAGE 105]

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108

UNIVERSITY OF ILLINOIS.

Professor Arthur T a n n a t t Woods, who for eight years has been the chief instructor or the director of the department of mechanical engineering in this University, have merited and received the warmest praise from all who have been concerned therein. T h a t we sincerely regret his departure^ and wish, as we have every reason to expect, t h a t abundant success and prosperity may attend him in his new field of labor. Resolved, T h a t the Secretary be instructed to forward to Professor Woods a copy of these resolutions. O n m o t i o n of Mr. M o r g a n , t h e following* r e s o l u t i o n f r o m Finance Committee was approved: the

Resolved, T h a t the Treasurer be and is hereby instructed not to loan any of the endowment fund of this University except strictly in conformity with all ac s of congress and of the legislature of this state in respect thereto. And if at any time he is unable to make investments and reinvestments of the funds at the full rate of five per cent, interest per annum, it shall be his duty at once to notify the President of the Board so t h a t the Trustees shall be called together to take action in respect thereto. B y r e q u e s t of t h e P r e s i d e n t , M r . S h a w h a n t h e n t o o k t h e c h a i r . T h e S e c r e t a r y s t a t e d t h a t t h e e d i t i o n of t h e p a m p h l e t c o n taining the laws concerning the University was exhausted, and, o n m o t i o n of M r . M o r g a n , h e w a s d i r e c t e d t o c o m p i l e t h e s e l a w s a n e w a n d h a v e 2 5 0 copies of t h e m p r i n t e d . T h e f o l l o w i n g c o m m u n i c a t i o n w a s received f r o m Dr. P e a b o d y :

R E G E N T ' S O F F I C E , U N I V E R S I T Y OF ILLINOIS, J u n e 10, 1891.

To the Board of Trustees of the University of Illinois. GENTLEMEN: I hereby resign the offics of Regent of the University of Illinois, the resignation to take effect at such time as you may elect. Respectfully,

SELIM H. PEABODY.

On m o t i o n of M r . M o r g a n , t h e r e s i g n a t i o n wTas a c c e p t e d , t o t a k e effect S e p t e m b e r 1, 1 8 9 1 . On m o t i o n of M r . M c K a y , i t w a s v o t e d t h a t a c o m m i t t e e b e appointed to prepare suitable resolutions upon this resignation. T h e President appointed Messrs. McKay, Cobb a n d G r a h a m . T h e r e s o l u t i o n s , w h i c h were filed l a t e r , a r e a s follows: WHEREAS, Dr. S. H. Peabody has resigned the Regency of this University, which office he has held for eleven years, during which time this institution has achieved its greatest success; A N D WHEREAS, This Board deems it a pleasure to recognize the services of Dr. Peabody and to testify to his sterling character, his abilitj" as an educator, and his worth as an executive officer; now, therefore, be it Resolved, T h a t this Board extends to Dr. Peabody its hearty thanks for his past services, its regrets t h a t he is to retire; and, appreciating the value of his services in the past, this Board records the fact t h a t during his administration the attendance on the University has been greatly Increased; t h a t through his efforts its name has been changed to represent more truly the high standard the University has sought to attain in its educational work; that, financially, and as an educational institution the University has been placed upon a firm and broad foundation; t h a t to the untiring industry and energy of Dr. Peabody is largely due the success of the University in these material advances; t h a t during his entire administration his relations with the Board have been most cordial and harmonious.