Repository: UIHistories Project: Board of Trustees Minutes - 1896 [PAGE 202]

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PROCEEDINGS OF BOARD OF TRUSTEES.

205

We consumed gas amounting to over $1,600 last year, and two-thirds of this was for chemical purposes. The pressure of gas is so poor at the present time that frequently some of the burners have to be shut down in order to get sufficient gas to run a part of the laboratory. The muffles are frequently abandoned for the want of sufficient gas, and the assay furnaces must be heated b y some other way than by that recognized generally as the best. Besides, thisgas should be supplied to the new shops for one or more forges. This will be out of the question at the present rates of $1.75 per M. In view of these facts, I would recommend that we contract with the United States Heat and Light Co, for a plant large enough for the use of the entire Chemical Laboratory, and that provisions be made for further extension of the service to the new shops as soon as needed there. I submit herewith a proposition from the above named company for installing a complete plant as above named. Respectfully submitted,

J. E. ARMSTRONG,

Special Committee on Gas Plant. T h i s r e p o r t was referred to t h e C o m m i t t e e on B u i l d i n g s a n d Grounds. T h e F i n a n c e C o m m i t t e e also p r e s e n t e d bills for legal services from J . O. C u n n i n g h a m a n d from C u n n i n g h a m & B o g g s , a g g r e g a t i n g $55, a n d r e c o m m e n d e d t h a t t h e y be paid. T h e r e c o m m e n d a t i o n w a s adopted. O n m o t i o n of Mr. R a y m o n d , $60 was a p p r o p r i a t e d for r e p a i r i n g t h e floor of t h e b a r n at t h e s o u t h farm, a n d for m a k i n g a p a n t r y i n t h e house on t h a t farm, t h e e x p e n d i t u r e s to be u n d e r t h e d i r e c t i o n of t h e B u s i n e s s A g e n t . M r . M o r r i s o n p r e s e n t e d a letter from t h e T r e a s u r e r , a s k i n g t h a t two of h i s b o n d s m e n be released. Mr. M o r r i s o n was i n s t r u c t e d t o answer t h e letter, s a y i n g t h a t t h e B o a r d declined to comply with the> request, since it could not be done w i t h o u t r u n n i n g t h e risk of i m p a i r i n g t h e validity of t h e bond. T h e c o m m i t t e e a p p o i n t e d at t h e last m e e t i n g of t h e b o a r d (see p r o ceedings of S e p t . 19,1895, p a g e 183,) to consider t h e b u s i n e s s m e t h o d s followed at t h e U n i v e r s i t y , a n d to r e p o r t w h a t c h a n g e s , if any, w e r e desirable, p r e s e n t e d t h e following c o m m u n i c a t i o n as a r e p o r t of p r o gress.

PROPOSED FINANCIAL SYSTEM.

The financial system now followed by the University is good. It has been thoroughly tested and by it all the funds of the University have been satisfactorily accounted for during all the years of its history. This, however, we believe has been due not so much to the system as to the integrity and painstaking faithfulness of the officers of the Board charged with the accounting' for the finances of the University. Any system adopted by a corporation for the management of its finances must of necessity rest largely in the trust reposed in the officers who conduct it. Both for the safety of the corporation and the honor of its servants there should be in the financial system methods of checking accounts, so that the facts shown by the books of one officer may be confirmed by the books of one or more other officers. In this way only can the honorable conduct of any officer be demonstrated and the funds of the institution be perfectly guarded.