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Caption: Board of Trustees Minutes - 1924
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108 board of trustees [January 17, GREGORY SCHOLARSHIP FUND (6) A recommendation that the following regulations be adopted for the administration of the John M . Gregory and Louisa C. Gregory scholarship fund which was accepted by the Board on October 20, 1922 (pages 56, 57); {Provisions in Mrs. Gregory's Will) 1. The scholarships are to be known as "The John M . Gregory and Louisa C. Gregory Scholarships." 2. The fund is to be "for the aid of worthy, indigent and self-sustaining students, who must be free from the vices of smoking and chewing tobacco, and from the use of intoxicating liquors as a beverage." 3. "Each scholarship shall yield to its incumbent One Hundred Dollars ($100) per annum." 4. "Whenever the number of applicants shall exceed the number of scholarships at the time vacant, then the scholarships shall be awarded to those who shall pass the best competitive examination in the preparatory studies, such examinations to be under the direction and supervision of the faculty." {Additional Regulations) 5. Applicants for the scholarships shall have been in residence at the University for at least one semester. 6. The scholarships shall be awarded by a Committee of three appointed by the President of the University. 7. In awarding the scholarships, scholastic standing as well as character and financial need shall be considered. 8. The competitive examinations called for in paragraph 4 shall be in a selected group of high-school subjects and shall be under the direction of the committee provided for in paragraph 6. 9. The fund shall be invested by the Comptroller under the direction of the Finance Committee of the Board of Trustees. O n m o t i o n of M r . N o b l e , these regulations w e r e adopted. KNIPP AND BROWN PATENTS (7) A recommendation that the Committee on Patents be authorized to negotiate for the sale of the prospective patents covering the use of alkali vapor in vacuum tubes for which Dr. Knipp and M r . Brown have applied. Professor White, the chairman of our Committee on Patents, reports that the patent here involved is not a basic patent, that only companies licensed to manufacture vacuum tubes under the DeForrest patents could manufacture this tube, and that none of these companies would be interested in our patents unless they can buy them outright. Dr. Knipp and M r . Brown have agreed to assign such patents as they m a y secure to the University. O n m o t i o n of M r s . Blake, the President of the University w a s authorized to direct the c o m m i t t e e to negotiate, for the sale of these patents, a n d to report the terms to the B o a r d . JAMES R. MORRIS LOAN FUND (8) A recommendation that the following regulations be adopted for the administration of the James R. Morris Loan Fund which was accepted by the Board on December 15, 1922 (page 94): 1. The funds shall be invested by the comptroller under the direction of the Finance Committee of the Board of Trustees. 2. Loans m a y be made to matriculated students who have been in residence at the University at least one semester, and who at the time they make application are students in residence at this University, and have declared their intention to graduate. 3. The maximum loan to any student at any time shall be $400. 4. W h e n recommending loans only students of promise and good scholastic standing will be considered, and other things being equal, preference will be given to
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