Repository: UIHistories Project: Board of Trustees Minutes - 1918 [PAGE 10]

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BOARD OF TRUSTEES

[July 21,

time is at hand when this service should be recognized and he should be relieved from further responsibility. Dr. Ricker's salary is $3,500 a year. The so-called Carnegie formula for computing a retiring allowance is A R= [-400

2

in which R represents the retiring allowance and A the salary. This would give the sum of $2,150 as the grant in this case. This formula may be interpreted as an allowance of $1,000 plus $50 for every hundred dollars of salary in excess of $1,200, or $2,150. On motion of Mrs. Busey, Professor Ricker was retired from active service beginning September 1, 1916, with a retiring allowance of $2150 a year, and the President of the University was requested to convey to Dr. Ricker an expression of the appreciation of the Board for Dr. Ricker's long and valuable service. The vote was as follows: Ayes, Mr. Abbott, Mrs. Busey, Mr. Carr, Mrs. Evans, Mrs. Henrotin, Mr. Hoit, Mr. Ward, Miss Watson; noes, none; absent, Mr. Blair, Mr. Dunne, Mr.Small, Mr. Trevett.

SITE FOR CLINICAL BUILDING

(14) As may be seen from the minutes of the meetings of the Medical Committee and the Executive Committee, which will be submitted by the Secretary of the Board [See page 69], it was the opinion of those committees that the National League Baseball Park, lying immediately south of the Cook County Hospital, should be purchased for the purposes of the College of Medicine. This property was owned by Charles W. Murphy of Chicago and Mrs. Charles P. Taft of Cincinnati. Mr. Abbott made an offer of $105,000 for Mrs. Taft's undivided half interest. For some reason which does not appear on the surface, she sold her undivided half interest to Mr. Murphy. From the formal announcement in the Chicago Tribune on Thursday, July 20, it appears that this property was sold on July 12, 1916, for a consideration of one dollar. The instrument carried, however, a revenue stamp of one hundred ten dollars which would seem to indicate that the price paid was one hundred ten thousand dollars. I think that this park is the most desirable site for the medical departments of the University and would urge that it be acquired if possible. On motion of Mrs. Henrotin, this matter was referred to the Executive Committee of the Board with power to act. The vote was as follows: Ayes, Mr. Abbott, Mr. Carr, Mrs. Evans, Mrs. Henrotin, Mr. Hoit, Mr. Ward, Miss Watson; no, Mrs. Busey; absent, Mr. Blair, Mr. Dunne, Mr. Small, Mr. Trevett.

T H E BUDGET FOR 1916-17

(15) The Budget of the University for the year beginning July 1, 1916, introduced by the following statement: