Repository: UIHistories Project: Board of Trustees Minutes - 1918 [PAGE 127]

EXTRACTED TEXT FROM PAGE:

1916]

UNIVERSITY OF ILLINOIS MR. P. W. ALLEN'S T I T L E CHANGED

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(5) A request from the Dean of the College of Agriculture that the title of Mr. Paul William Allen of the department of dairy husbandry be changed from assistant to instructor.

This request was granted. SALE OF RANTOUL FARM—SMITH LANDS

(6) An offer from Mr. Thomas F . Molloy and Jennie L. Molloy to purchase all that part of the north half of Section 23, Twp. 22 N., Range 9 E. of the 3rd P. M., which lies west of the Illinois Central Railroad right of way, 214 acres more or less, and which was presented to the University by Captain Thomas J. Smith, the proceeds of which are to be used in the erection of a Music building. This farm is known as the "Rantoul farm". It is two and one-half miles north of Rantoul and adjoins the Illinois Central right of way and the Kankakee Interurban line. Mr. Molloy offers $175 an acre, or $37450. Mr. Bruce Henderson, in whose hands the sale of this property was placed, advises that, as there are no improvements on this land except a corn-crib of doubtful value, the price is, in hisj opinion, a fair one. Captain J. R. Trevett, in a letter to me, expresses his opinion that the price is very good and fully as much as he expected the University could get for this farm. Mr. Robert F . Carr has also given me his opinion that this sale should be made. Professor J. G. Hosier gives his opinion that $175 an acre cash is a very fair offer. Mr. H. S. Capron, Treasurer of the University, has the same opinion. In view of the fact that the University needs this money in order to enable it to proceed with the erection of the Smith Memorial Music Hall, I have directed the Comptroller to enter into a provisional contract of sale with Thomas F. Molloy for the sum of $37,450, the price being $175 an acre, payable as follows: one thousand dollars in cash, which has been received and deposited with the University Treasu r e r ; a note for $4,000 due March 1, 1917, which has also been received; the balance, $32,450, payable in cash on March 1, 1917, at which time the property would pass into the possession of Thomas F . Molloy and Jennie L. Molloy. The contract has been made subject to the ratification of the Board of Trustees. The contract and note are herewith submitted.

The Executive Committee voted to recommend to the Board of Trustees that this property be sold to Mr. and Mrs. Thomas F. Molloy for $37,450. The other members of the Board present— Miss Watson, Mrs. Evans, Mrs. Henrotin, and Mr. Ward—joined in the opinion that this sale should be effected at the price indicated.

INSURANCE ON PHARMACY BUILDING (7) A letter from Professor James M. White recommending that additional insurance be taken out on the Pharmacy building in Chicago; also that the American District Telegraph service be installed not only in the Pharmacy building but also in the Medicine and Dentistry buildings. There would be no additional cost for putting in this service, but a continuous