Repository: UIHistories Project: Board of Trustees Minutes - 1928 [PAGE 254]

EXTRACTED TEXT FROM PAGE:

1927]

UNIVERSITY OF ILLINOIS BEQUEST OF GERTRUDE E. HAWEIS, DECEASED

2SI

(34) On January II, 1926 (page 506), report was made of the bequest of Gertrude E. Haweis to the Trustees of the University of Illinois of the sum of $10,000 to be known as the E. A. Wallace Memorial Scholarship, the income from which is to be used for the benefit of such students in the University from Havana, Illinois, as have been selected by the Board of Education of that city. I have received a letter from Messrs. Lawler & Degnan, counsel for some of the legatees of the Haweis Estate, requesting the University to join in certain proceedings to expedite the settlement of the estate. They request that the following resolution be adopted: W H E R E A S , the Will of Gertrude E. Haweis, which Will has been duly admitted to probate in the Superior Court of the State of California, in and for the County of Los Angeles, contains the following provision: "SECOND: I give, devise and bequeath to the Trustees of the University of Illinois in the City of Champaign, Illinois, the sum of Ten Thousand Dollars ($10,000.00), to be known as the 'E. A. W A L L A C E M E M O R I A L SCHOLARSHIP.' and I request that the Trustees of said University invest and re-invest said sum in safe and sound interest bearing notes secured by mortgages being afirstlien—except current non-delinquent taxes and assessments—on the fee simple title of improved farm lands in the State of Illinois; said lands to be of the fair market value of at least twice the amount of the said notes secured thereon; I direct that said Trustees collect and use the net income from said notes in payment of the board and tuition of such young man student or students residing in the City of Havana, Illinois, and taking a regular course in said University, as shall be selected and directed each year by the Board of Education of said City of Havana; said Trustees shall on or before August 1st, in each year, report in writing to said Board of Education, the condition of said fund, the net annual income thereof, accrued and accruing, with a l s and it description of the notes and mortgages in said fund and from whom owing and how and by what lands secured;" and W H E R E A S , the University of Illinois mentioned in said clause of said will is the same University of Illinois, of which the persons whose names are subscribed to this resolution are the duly qualified and acting Trustees: and W H E R E A S , i is the desire and wish of this Board of Trustees of said Unit versity of Illinois to accept said bequest and accomplish distribution thereof in accordance with its terms: N O W , T H E R E F O R E , IT IS H E R E B Y R E S O L V E D : That this Board of Trustees of the University of Illinois does hereby accept the provisions of said clause of said Will, and agrees to carry the same into effect, and be i further t R E S O L F E D : That Mr. Oscar Lawler, of Los Angeles, California, be and he is hereby authorized and directed, in the name and on behalf of this Board of Trustees of the University of Illinois, to take any and all steps necessary or proper to be taken for the purpose of accomplishing the distribution of said bequest to this Board of Trustees of said University of Illinois. I have conferred with the Legal Counsel and he advises that the resolution be adopted, and a certified copy forwarded to Lawler 8c Degnan. O n motion of M r s . Evans, this resolution w a s adopted.

REFUNDING BOND TO EXECUTOR OF JOSEPH CARTER ESTATE

(35) Mr. A. R. Hall, attorney for the executor of the Joseph Carter Estate, has informed me that the executor has certain funds belonging to the estate and coming to the Board of Trustees of the University of Illinois as residuary legatee, which funds he would be glad to transfer to the University. However, there is some ground for thinking that a claim may be made against the estate. In order to protect himself, the executor asks that the Board of Trustees give a refunding bond to protect him in case such litigation is instituted. I n motion of M the Trustees takerecommendation w a s adopted. O recommend that r . Barr, this no action.