Repository: UIHistories Project: Board of Trustees Minutes - 1924 [PAGE 235]

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232

BOARD OF TRUSTEES

[July " ,

O n motion of M r . Herbert, this recommendation was concurred in. THE CROSBY ACCIDENT COMPENSATION CASE (5) A recommendation that $112 be appropriated from the Reserve and Contingent fund to meet the balance of expenditure for the bills occasioned by the illness and death of Mr. G. M . Crosby. O n motion of M r s . E v a n s , this r e c o m m e n d a t i o n w a s approved, b y the following vote: A y e , M r . Armstrong, M r s . E v a n s , M r s . Grigsby, M r . Herbert, M r . N o b l e , M r . T r i m b l e ; n o , n o n e ; absent, M r . Blair, M r s . Blake, M r s . B u s e y , M r . Small, M r . Trees. BAKER PRIZES IN CIVIL ENGINEERING (6) The following statement: Professor I. O. Baker, Professor of Civil Engineering, Emeritus, offers the University the sum of $2500 for establishing prizes in civil engineering, and perpetuating the names of the winners by a bronze tablet. This fund is intended to maintain two annual prizes—the first of $75 and the other of $25—to be given to the two senior Civil Engineering students attaining the highest standing in regular academic work and in certain other related activities. I have called Professor Baker's attention to the rule of the Board that gifts of less than $5000 for such purposes are accepted only on condition that the Board may, if circumstances make it desirable, consolidate such funds, preserving, however, the identity of the separate gifts in the title. Professor Baker assents to this condition in making the gift. I recommend that the gift of Professor Baker be accepted, that the sum of $2000 of the gift be kept invested for the purpose of furnishing income for a first prize of $75 and a second prize of $25, or two prizes whose total amount shall be the income of investment, if less than $100, but in the ratio of three to one. I further recommend that $500 of this gift be invested, according to the wish of Professor Baker, in providing and maintaining a bronze tablet on which the names of the prize winners shall be placed each year, the Trustees of the University reserving the right to replace these names with the names of later prize winners in succeeding years, so as to keep the number within, the limits of the tablet provided. I recommend finally that, in accordance with the wishes of Professor Baker, the President of the University be directed to place the awarding of these prizes and care of the tablet in the hands of the Dean and heads of departments of the College of Engineering. O n motion of M r . Armstrong, these recommendations w e r e a p proved, a n d the President of the University w a s directed to express the thanks of the B o a r d to Professor Baker. GIFT FOR LOAN FUND (7) The following statement: I have received a letter from the attorney of a friend of the University stating that the University will receive through him the interest on a capital of $30,000, at seven per cent per annum, from June 1, 1923, collectable on notice from him at a bank designated by him to me, for the purpose of making loans to students. H e further states that after a time he will turn over the capital fund to the University. I a m directed by the donor that he does not wish his identity disclosed. O n motion of M r s . E v a n s , this gift w a s accepted with thanks.