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Caption: Board of Trustees Minutes - 1926
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10 BOARD OF TRUSTEES [Juty 14, suggested contract with the General Electric Company of New York for the right, title, and interest in certain inventions assigned to the University by some of our staff. As Professor White writes, the matter is not in shape for action, but I think it is important to call your attention to the whole subject at the present time. I replied to Professor White that "Until a policy on this matter has been established by the Board of Trustees, of course they will not be likely to enter into a particular contract. I think the matter of policy must be settledfirst,and I a m thinking that the best procedure would be for m e to present this general question to the Board at its meeting on the 14th." I also wrote him that the large question "is not the contract, but whether the University can, or should, enter into a contract for the exclusive use of any of its patents by a corporation." I recommend that this matter of policy be referred to the proper committee of the Board for consultation with the Legal Counsel of the University and for report at a future meeting. O n m o t i o n of M r s . Blake, this matter w a s referred to a special c o m m i t t e e consisting of M r . T r i m b l e , M r . A r m s t r o n g , M r . Trees, a n d D r . N o b l e , for investigation a n d report. REPORT OF THE TREASURER OF THE UNIVERSITY (22) The following report of the Treasurer for the year ending June 30, 1924. President David KMey, University of Illinois M y dear President Kinky: I transmit herewith the report of the Treasurer of the University for the year ending June 30, 1924, prepared in accordance with the by-laws of the Board of Trustees. I have examined this report and I hereby certify that it is correct and in agreement with the accounts of m y office, as shown by the attached reconciliation statement. Very truly yours Llottd M o b e y Comptroller RECONCILIATION WITH THE UNIVERSITY TREASURER AS AT JUNE 30, 1924 Treasurer's Add: Receipts Deduct Business Balance not Deposited Unpaid Office (In process) Warrants Balance General Fund $979,915.84 $18,810.50 $20144.3.01 $797>283.33 Trust Fund 170,716.17 2,079.67 10,021.80 162,774.04 U. S. Agricultural Experiment Station Fund 720.03 720.03 U. S. Smith-Lever Fund... 26,375.96 26,375.96 TotaJ $1,177,728.00 $20,890.17 £238,560.80 $960,057.37
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