Repository: UIHistories Project: Board of Trustees Minutes - 1906 [PAGE 104]

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78

UNIVEESITY OF ILLINOIS.

[June 5

Meeting of June 5, 1905.

The Board of Trustees of the University of Illinois met at the University at 9 :oo o'clock a. m., Monday, June 5, 1905. The members present were Messrs. Abbott, Bayliss, Bullard, Davison, Kerrick, McKinley, McLean and Mrs. Alexander, Mrs. Busey, and Mrs. Evans; absent Governor Deneen and Mrs. Barber. President James was present. The Secretary presented the minutes of the Boird meetings of March 14, 1905, and April 27, 1905, and they were approved as presented.

ELECTION OF TREASURER.

The Finance Committee presented the following report:

CHICAGO, June 2, 1905.

To the Board of Trustees: In the matter of H. A. Haugan, candidate for the position of Treasurer of the University of Illinois, the Finance Committee, which was instructed to consider his application, begs leave to submit the following report: We called at the State Bank of Chicago, of which Mr. Haugan is president, but on learning he was absent, had an interview with Mr. Lindgren, cashier, and in the course of the conversation we stated in general the conditions which we would expect the treasurer to comply with, viz.: a $1,000,000 bond and a division of the deposits; a portion, at least, being kept in some other bank than his own, preferably the First .National Bank. He, however, suggested the Corn Exchange Bank, in which case Mr. C. L. Hutchinson would act as one of the bondsmen. He also gave us a copy of a book which contains Mr. Haugan's biography, which we submit herewith. Upon leaving the State Bank we proceeded to the Western Trust and Savings Bank and asked the cashier, Mr. J. J. Abbott what his opinion of Mr. Haugan was as to his ability, integrity and general qualifications for the position of Treasurer of the University. Mr. Abbott replied, in substance, that while there were greater bankers in the city than Mr. Haugan, there was no one qualified morally, financially or with sound business judgment to better serve the University as Treasurer than the man we had under consideration. We also called at the bank of the Merchants Loan and Trust Company, and in an interview with Mr. Orchard asked him the same questions we had Mr. Abbott of the Western Trust and Savings Bank, and his reply was almost an exact confirmation of Mr. Abbott's. Mr. H. A. Haugan is president of the State Bank of Chicago, located in the Chamber of Commerce building, where it occupies the greater part* of the first floor, and is apparently doing a thriving business. A statement of the condition of this bank, issued May 31, 1905, as made to the State Auditor, is attached hereto.