Repository: UIHistories Project: Board of Trustees Minutes - 1916 [PAGE 193]

EXTRACTED TEXT FROM PAGE:

1915]

PROCEEDINGS OP THE BOARD OF TRUSTEES.

193

P A Y M E N T OF I N T E R E S T , COLLEGE OF M E D I C I N E . (14) A statement from Prof. George E. Prazer, Comptroller, dated December 24, 1914, that he is forwarding University warrants in full payment of interest due on the mortgage, bonds, and notes issued by the College of Physicians and Surgeons, due January 1, 1915 : December 2k, 191k. President Edmund J. James, University of Illinois. DEAR SIR: I enclose copies of letters addressed to the Secretary of the Chicago Board of Education, to the Chicago Savings Bank and Trust Company, and to Dr. Frank B. Earle. You will note from this correspondence that I am to-day forwarding University warrants in full payment of interest due on the mortgage bonds and notes issued by the College of Physicians and Surgeons. Very truly yours,

GEO. E. PRAZER.

[Letter to the Chicago Savings Bank and Trust Company.] December 2k, 191%. Chicago Savings Bank and Trust Company, State and Madison Streets, Chicago, III. GENTLEMEN: Inclosed please find University warrant No. 4287 for $1,818 in payment of the semi-annual interest on first mortgage bond issue of College of Physicians and Surgeons, due January 1, 1915, amounting to $1,800 and in payment of normal income tax deposits, amounting to $18. Also, please find inclosed University warrant No. 4288 for $6.33 in payment of your fee as fiscal agent on coupons due January 1, 1915 (%% of $5,070). Please acknowledge receipt of these payments. Very truly yours,

GEORGE E. FRAZER,, Comptroller.

[Letter to the Secretary of the Board of Education.] December 2k3 191k. Mr. Louis E. Larsen, Secretary, Board of Education, Chicago, III. DEAR SIR: Inclosed please find University warrant No. 4282 for fourteen hundred dollars in payment of semi-annual interest on mortgage notes of College of Physicians and Surgeons, due January 1, 1915 (2y2% of $56,000). Please acknowledge receipt of this payment. Very truly yours, „ * • , • ,

GEORGE E. FRAZER., Comptroller.

[Letter to Dr. Frank B. Earle.] December 2k, 191k. Dr. Frank B. Earle, 929 Marshall Field Building, Chicago, III. DEAR SIR: Inclose'd please find University warrant No. 4283 for $3,302.70 in payment of semi-annual interest on second mortgage bond issue of College or Physicians and Surgeons, due January 1, 1914, ($3,270), and in payment of normal income tax deposit ($32.70). Please acknowledge receipt of this payment. Very truly yours, 77

GEORGE E. FRAZER,, Comptroller.

This statement was received for record.

F I N A L S E T T L E M E N T OF LAST L A N D CONTRACT. (15) A statement that the Comptroller is in receipt of a draft in the amount of $481.50, being full payment of balance due on principal and interest on the land contract between the Board of Trustees and Henry A. Lia, of Brooten, Minn. January 13, 1915. President Edmund J. James, University of Illinois. DEAR SIR: I am in receipt of a draft in the amount of $481.50, being full payment of balance due on principal and interest on the land contract between the Board of Trustees and Henry A. Lia, of Brooten, Minn. I recommend that the Board of Trustees authorize the President and the Secretary of the board to execute a warranty deed conveying to Henry A. Lia the northwest quarter of the southeast quarter of Section No. 4, in Township No. 123 north, Range No. 36 west, of the Fifth Principal Meridian, being forty acres situated in the county of Pope, and state of Minnesota. From the payment made by Mr. Lia, the sum of $31.50 will be credited to the general fund of the University, as interest received from land contracts; and the sum of $450 will be transmitted to the State Auditor of Public Accounts as an addition to the endowment fund of the University of Illinois. This transaction will close the last of the land contracts, and furnishes the last receipt to be credited to the endowment fund of the University of Illinois under existing conditions. Very truly yours,

GEORGE E. FRAZER.

On motion of Mr. Hoit, the action of the Comptroller in assigning the funds received from this contract was approved and the President and the Secretary of the board were authorized to execute a warranty deed conveying the property described above to Mr. Henry A. Lia. At this point, the board took a recess for luncheon. —13 U