Repository: UIHistories Project: Board of Trustees Minutes - 1914 [PAGE 131]

EXTRACTED TEXT FROM PAGE:

1912]

PKOCEEDINGS OF THE BOARD OF TRUSTEES.

129

UNIVERSITY.

MATTERS PRESENTED BY T H E PRESIDENT OF T H E

President James presented the following matters for consideration:

PLANS FOR STOCK JUDGING PAVILION APPROVED: BIDS AUTHORIZED.

(1) The detailed plans for the Stock Judging Pavilion, worked out in accordance with the general plans submitted at the meeting of September 19, 1912 (p. 117) ; accompanied by a request from the State Architect for authority to call for bids.

On motion of Mr. Blair, it was voted to approve the plans as submitted and to authorize the State Architect to call for bids on the basis of these plans.

WILLIAM B. M c K I N L E Y LOAN FUND.

(2) The following letter from Hon. William B. McKinley, of Champaign, 111., presenting personal notes from students or former students of the University of Illinois to the amount of ten thousand four hundred eighty-one dollars ($10,481), for the purpose of establishing a student loan fund:

CHAMPAIGN, I I I . , October 3, 1912.

To the Trustees of the University of Illinois. GENTLEMEN: For about fifteen years I have loaned money to students of the University of Illinois to enable them to complete their course of study in the University. I have taken notes from these students, bearing 5 per cent interest, to be repaid at their convenience. I have become so convinced of the valuable and satisfactory results of this work that I desire to make it permanent, as far as possible. I am willing, therefore, to turn over these notes to the University of Illinois, with the understanding that as they are paid off the money shall be turned into a fund and the proceeds used to extend loans to worthy and promising students. As I wish these loans to be made only to persons of character, I shall be pleased if you would be satisfied with notes given by the parties concerned, without requiring other security. I have been indebted to Dean Clark for assistance in selecting students for these loans and have been entirely satisfied with his judgment. Without excluding particularly meritorious cases in the lower classes, I think it would be well to limit these loans chiefly to upper class men. I shall be glad to turn over these notes, amounting to ten thousand four hundred and eighty-one dollars ($10,481), as soon as the Board of Trustees indicates its willingness to accept them for the purpose and on the terms indicated in this communication.

W. B. MCKINLEY.

On motion of Mrs. Evans, it was voted that this donation be accepted for the purpose and on the conditions indicated in the foregoing letter; that the fund thus established be called the William B. McKinley Loan Fund; and that the president of the University be requested to express to Mr. McKinley the board's hearty appreciation of this generous gift.

AUTHORITY TO SUE FOR RECOVERY OF M O N E Y LOAN F U N D . FROM THE SYNDER

(3) A recommendation that the Council of the University be authorized to bring suit, whenever the Council of Administration shall by formal vote so request, against persons who have borrowed money from the Snyder loan fund and who after repeated notices have failed to pay the interest and have failed to pay the principal when the notes have become due.

On motion of Mr. Hatch, this recommendation was approved.

SCHOLARSHIPS FROM THE HENRY STRONG EDUCATIONAL FUND.

(4) The following communication addressed to the President of the University from the trustees of an educational fund provided for in the will of the late Henry Strong: President of the University of Illinois, Uroanas III. SIR: The undersigned, being the four children of Henry Strong, lately deceased, and trustees in fact of the educational fund provided in his will, have to invite your attention to a proposed allotment of a portion of this fund to the University of Illinois. We enclose herewith a printed copy of excerpts from the will establishing such' educational fund. We further enclose a printed form of application, upon the basis of which we have arranged to receive and grant requests for individual scholarships. The restrictions in the will and also the form of application will apply to all requests whether such come to us individually and direct, or through the channels of an institution, such as your own.

CHICAGO,, I I I .

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