Repository: UIHistories Project: Board of Trustees Minutes - 1924 [PAGE 383]

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380

board of trustees

[ J a n u a r y 12,

I a m mindful that conditions m a y change in future years and in the opinion of the Board of Trustees it m a y seem desirable to change the form of this investment. If the Board of Trustees so agrees, they have m y permission to sell the above Southern Pacific stock and reinvest the proceeds in other safe securities, which by their nature m a y seem more suitable for the purpose intended and hold the new securities for the objects as above set forth. It is understood that the control of said gift and its income shall remain permanently with the Board of Trustees of the University of Illinois, or its successors, regardless of any legislative act concerning the deposit of any money or property of the University of Illinois either in the State Treasury or elsewhere. The fellowships and prizes may be awarded through suitable boards or committees as your Board m a y deem wise and authorize. I would also recommend that the fellows be given suitable diplomas or certificates showing that the work abroad was completed to the satisfaction of the Department of Architecture and approved by the committee of award. M y affection for the University prompts m e to assist these students in such measure as I can to partially repay for the many advantages which I enjoyed as a student. That these fellows will in return reflect honor upon their Alma Mater I feel confident, in addition to the greater service which they will render by influencing the architecture of the country, by building more artistic and safer structures. Thereby in so doing they will also add much to the comforts and happiness of future generations. Very truly yours, Francis J. Plym The original of this deed of gift has been given into the keeping of the Secretary of the Board. A second letter from Mr. Plym follows: »- •%, Dear President Kinley:— J3""3^ ?> '9*4I a m hereby tendering an additional one hundred and thirty-five (135) shares of Southern Pacific Railway common stock, together with Irrevocable Stock Power, making in all three hundred and thirty-five (335) shares, as per m y Deed of Gift of December 20th, 1923. I a m also enclosing the original of a letter addressed to the Continental & Commercial National Bank, a carbon copy of which I a m sending them regarding this tender. Very truly yours, F. J. Plym The transfer of two blocks of stock, of two hundred (200) shares and one hundred and thirty-five (13s) shares respectively, is made by the following certificates of irrevocable stock power, the originals of which certificates have been given into the custody of the Secretary of the Board. IRREVOCABLE STOCK POWER NO. 1 K N O W A L L M E N , B Y T H E S E P R E S E N T S , That Francis J. Plym for value received have bargained, sold, assigned, and transferred, and by these presents do bargain, sell, assign, and transfer unto the University of Illinois (200) T w o Hundred Shares of the C o m m o n Stock of the Southern Pacific Railway Company standing in m y name on the books of the said company represented by Certificate N o herewith and do hereby constitute and appoint true and lawful Attorney, I R R E V O C A B L Y , for and in name and stead but to use, to sell, assign, transfer, and make over all or any part of the said stock, and for that purpose to make and execute all necessary acts of assignment and transfer thereof, and to substitute one or more persons with like full power, hereby ratifying and confirming all that said Attorney or substitute, or substitutes, shall lawfully do by virtue hereof.