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Caption: Board of Trustees Minutes - 1892
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PKOCEEDINGS OP BOARD O F TRUSTEES. 51 MEETING OF MAECH 10, 1 8 9 1 . The Board of Trustees of the University of Illinois met in t h e University P a r l o r , in Urbana, Illinois, a t 3:15 o'clock p. m., Tuesday, March 10, 1 8 9 1 . The members present were Messrs. Bullard, Funk, McKay, McLean, Morgan, B a a b , and S h a w h a n ; absent, Governor Filer, and Messrs. B r y a n t , Clemens, Cobb, and Graham. Mr. Morgan s t a t e d t h a t he had received his commission and t a k e n the o a t h of office. The minutes of t h e last meeting were approved. On motion of Mr. McKay, Mr. Bullard was elected President of the Board for the ensuing year. On motion of Mr. McKay, W. L. Pillsbury was re-elected Corresponding and Recording Secretary for the ensuing year, a n d his salary was fixed a t $500. On motion of Mr. Shawhan, Mr. J. W. Bunn, was re-elected Treasurer for the next two years. On motion of Mr. Funk, the Treasurer was directed t o furnish t o the Executive Committee of the Board, for their approval, a satisfactory bond in the a m o u n t of $300,000. On motion, it was ordered t h a t the President and the Finance Committee examine the securities held by the Treasurer, belonging t o the endowment fund of t h e University, and report with regard t o them a t the next meeting of the Board. On motion of Mr. McLean, Mr. Cobb was elected a member of the Executive Committee; and, on a further motion by Mr. McLean, Mr. F u n k was elected a member of the same committee. The Regent, Dr. S. H. Peabody, then presented his report. REGENT'S REPORT. To the Trustees of the University of Illinois. GENTLEMEN: Whatever may be the ambitions of the officers and the friends of the University of Illinois, whatever the comparisons which they may he pleased or be compelled to make with neighboring institutions, several things must not be forgotten. One is that it is still less than six years since it was recognized in any legal way, or in the public estimation as the State University. It has a good deal to earn in that direction yet. In these six years it has made rapid strides toward such recognition.
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