Repository: UIHistories Project: Board of Trustees Minutes - 1928 [PAGE 246]

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1927]

UNIVERSITY OF ILLINOIS

243

Chicago, at a rate of 26c per hundred dollars; this being the same rate as has applied in previous insurance taken on this building, and the companies proposed by Prussing and Company being satisfactory, and the insurance being required immediately, he accepted the proposal and placed the insurance accordingly. I ask confirmation of this action. O n motion of M r s . E v a n s , this action w a s confirmed.

INSURANCE ON MEDICAL AND DENTAL BUILDINGS

(3) The Comptroller has advertised for and received bids on the fire insurance needed on the Medical and Dental buildings as follows: Medicai Building Den TAL BuiLDINC $302,000 $167,000 Amount of Insurance 1 Bidders Amount Rate per $100 Amount Rate per $100 Rollins Burdick Hunter Company $160,000 $110,000 $1.25 .5 8 W . A. Alexander and Company 302,000 167,000 1 35 •5 9 M c K e y and Poague 257,500 •5 9 44,500 1.50 Greison Insurance Agency 302,000 Bldg. 2.00 167,000 2.00 Contents 3.00 Prussing & Company 167,000 1-35 From this schedule it will be noted that a low bid is made on a portion of the insurance of both buildings by Rollins Burdick Hunter Company, and that the next lowest bids on the Medical Building are by W . A. Alexander and Company and McKey and Poague, and on the Dental Building by VV. A. Alexander and Company and Prussing and Company. W . A. Alexander and Company did not submit a list df the companies in which they proposed to place the insurance, as required in the notice. All other bidders submitted lists of companies all of which have been found satisfactory. M c K e y and Poague and Prussing and Company have rendered valuable service in determining the proper valuations of the buildings and the amounts of insurance which should be carried. Recommended that insurance on these buildings be placed for a term of five years as follows: (a) On the Medical building and contents, $160,000 at .85 a hundred, with the Rollins Burdick Hunter Company. (b) On the Medical building and contents. $71,000 at .95 a hundred, with McKey and Poague, and $71,000 at .95 a hundred with W . A. Alexander and Company, provided the Alexander company submits a list of companies satisfactory to the Comptroller. (c) On the Dental building and contents, $110,000 at $1.25 a hundred with the Rollins Burdick Hunter Company; and $57,000 at $1.35 a hundred to be divided equally between Prussing & Company and W . A. Alexander k Company, provided that the Alexander company submits a list of companies satisfactory to the Comptroller. O n motion of M r s . B u s e y , r e c o m m e n d a t i o n (a) w a s adopted. O n motion of D r . Noble, r e c o m m e n d a t i o n (b) w a s adopted. O n motion of M r s . E v a n s , recommendation (c) w a s adopted.