Repository: UIHistories Project: Board of Trustees Minutes - 1904 [PAGE 304]

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280

UNIVERSITY OF ILLINOIS.

[May

24,

MEETING O F MAY 24, 1904. The Board of Trustees of the University of Illinois met at the Auditorium Annex, in Chicago, Tuesday, May 24, 1904, at 9 o'clock a. m., in pursuance of the following call issued by the Secretary May 16, 1904:

" A t the call of the President, Mr. F . L. Hatch, there will be a special meeting of the Board of Trustees of the University of Illinois at the Auditorium Annex in Chicago, at 9 o'clock a. m., Tuesday, May 24, 1904, to authorize conferring degrees upon the members of the class to be graduated that day from the College of Medicine, and to transact such other business as may be duly presented.''

There were present Messrs. Bullard, Hatch, Kerrick, McKinley, McLean and Nightingale and Mrs. Evans; absent, Governor Yates and Messrs. Bayliss and Dickirson and Mrs. Abbott and Mrs. Alexander. Vice President Burrill was present.

MICHIGAN TELEPHONE COMPANY BONDS.

President Hatch presented the following letter:

N. W. H A E E I S & COMPANY, BANKEES.

CHICAGO, May 11th, 1904.

Mr. E. G. Keith, Chicago Title 4" Trust Company, Chicago, Illinois: DEAR S I R : Eeferring to the $3,000 Michigan Telephone Company bonds belonging to the University of Illinois, would say that if the University surrenders the certificate of deposit covering the old bonds for exchange for the securities of the Michigan State Telephone Company it will receive securities as follows: $2,500 new bonds 1,000 preferred stock 625 common stock voting trust certificates I n order to effect the exchange, however, it will be necessary for the University to make payment of the sum of $97.52, in payment of a fractional $100 p a r t of bond at 90 and one-quarter share of preferred stock at 80, $110, less $12.48 to adjust the interests for the month of January between the new and old bonds. We should be pleased to attend to the exchange of securities upon surrender to us of the Old Colony Trust Company certificate covering the old bonds. Very truly yours, G. P . HOOVER, Cashier.

The Business Manager, Professor Shattuck, was authorized to pay the $97.52 in order to effect the exchange proposed in the letter, and the Treasurer, Mr. Keith, was authorized to make the change.