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Caption: Board of Trustees Minutes - 1918
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37& BOARD OF TRUSTEES [jutte ^5, Bank's method of calculation— 2 -f- (360 X 100) = .000055 X $235,945,78i = Bank's method using more extended factor— 2 ~ (360 X 100) = .00005555555 X $235,945,781 = 365 day method— 2 -r- (365 X IOO) — .O0OO5479452 X $235,945,781 = $12,977.02 $13,108.10 $12,928.54 The Chairman of the. Finance Committee was requested to ascertain the practise of the State Treasurer in computing interest, to settle with Mr. Capron on that basis, and to report at the next meeting of the Board. TOOL HOUSE AND FARM HOUSE Mr. Hoit reported that the Committee on Agriculture had voted to recommend the construction of the agronomy tool house and farmhouse, and the extension of the University water system and electric wiring to these buildings (see page 332) provided there are sufficient funds to pay for the work. Action on this matter was deferred. MATTERS SUBMITTED BY PRESIDENT JAMES The Board proceeded to the consideration of the following matters submitted by the President of the University. CONTRACT FOR AVIATION SCHOOL (1) Articles of agreement between the Signal Corps of the United States Army of the first part and the University of Illinois of the -second part for the purpose of providing, equipping, and maintaining a School of Military Aeronautics. SCHOOLS DIVISION WAR DEPARTMENT OFFICE OF T H E C H I E F SIGNAL OFFICER WASHINGTON June 19, i g r ) M E M O R A N D U M FOR SCHOOLS : Attention, Commandant, School of Mil. Aero., University of Illinois, Urbana, III. 1. Enclosed is a copy of contract for tuition for fiscal year 1917. This contract merely provides for payment from the time that the first student arrives at the school until the 30th day of June. You will explain to the University authorities that this is the case and we believe it advisable to accept the contract as it is as the payment of money will be greatly expedited. You will then take up the question for the contract for the fiscal year 1918, submitting to us any changes that the University may desire in regard to the new contract. 2. This first contract is to be made pp as all Army contracts are, and
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