Repository: UIHistories Project: Board of Trustees Minutes - 1928 [PAGE 11]

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8

BOARD OF TRUSTEES

[July 7

O n motion of M r s . Ickes, this appropriation was made, by the following vote: Aye, M r . Armstrong, Mrs. Busey, M r s . Evans, M r s . Grigsby, M r s . Ickes, M r . Noble, M r . Trees, M r . W h a m ; no, none; absent, M r . Barr, M r . Blair, M r . Small. RESOLUTION ACCEPTING BEQUEST OF MISS JESSIE ESTEP (27) I recommend that the following resolution be adopted accepting this bequest and authorizing the Comptroller to receive it: RESOLUTION Whereas, Miss Jessie Estep, deceased, left a will which has been admitted to probate in the Superior Court of King County, Washington, providing for a bequest of £500 to the Trustees of the University of Illinois, the income of which shall be applied to the upkeep and repair of the Memorial clock given to the University by the Class of 1878, and Whereas, James Bothwell, executor under the above mentioned will, has notified the Board of Trustees of the University of Illinois, that he is now ready to pay over to it the sum of £500 so bequeathed less #50 inheritance tax levied in accordance with the law of the state of Washington and deductible from the bequest; therefore be it Resolved, That the said Board of Trustees does hereby accept the said bequest and agrees to use said fund in accordance with the provisions of said will; and be it further Resolved, That Lloyd Morey, the Comptroller of the University, is hereby appointed to receive the aforesaid sum from James Bothwell, executor, and to receipt for the same. Approved: 0. A. Harker, Legal Counsel It is necessary for the Board to adopt this resolution before the executor of the estate of Miss Estep can pay over the bequest. O n m o t i o n of M r s . E v a n s , this resolution w a s adopted. ADDITION TO MARGARET LANGE JAMES LOAN FUND (28) A certain amount of money was subscribed by members of the University Senate with the thought that enough might be raised to provide a memorial to the late President Edmund Janes James. The amount of this fund to date is $562.64. It is the sense of the Senate, as expressed at its last meeting, that this fund can best be used by adding it to the Margaret Lange James loan fund with the understanding that the records with reference to the fund will indicate that this amount of the total fund has been collected by the University Senate in honor of President James. I recommend that this fund be accepted under the conditions indicated. O n m o t i o n of M r . W h a m , this r e c o m m e n d a t i o n w a s concurred in.

ANONYMOUS LOAN FUND SECURITIES

(29) The Comptroller has received a letter from a representative of Senator W . B. McKinley indicating the probability of our being able to cash in $30,000 of 7 percent debentures of the North American Light & Power Company at par and accrued interest. I therefore recommend that the Comptroller, M r . Lloyd Morey, be authorized to take up with the parties concerned the matter of securing repayment of the 7 percent North American Power & Light debentures owned by the Board of Trustees of the University of Illinois at not less than par and accrued interest, the principal sum being $30,000. O n m o t i o n of M r s . Grigsby, this r e c o m m e n d a t i o n w a s concurred in.