Repository: UIHistories Project: Board of Trustees Minutes - 1928 [PAGE 516]

EXTRACTED TEXT FROM PAGE:

1927]

UNIVERSITY OF ILLINOIS

513

LEAVE OF ABSENCE FOR MR. B. C. STEPHENS (19) Director A. G. Eldredge of the photographic laboratories recommends that his assistant, Mr. B. C. Stephens, be given sick leave of absence without salary from September 17, 1927, to January I, 1928. I concur in this recommendation. O n motion of Mrs. Ickes, this leave was granted. INVESTMENT O F HAWEIS F U N D (20) A statement concerning the investment of the Haweis fund, which i s restricted to mortgages on real estate, and a proposal from the Treasurer to allow 4J4 percent on this fund until such time as the fund may be invested, with a recommendation that this proposal be accepted. O n motion of M r . Barr, this recommendation was concurred in. S A L E O F S O U T H E R N PACIFIC S T O C K T h e matter of the sale of the Southern Pacific stock (Plym fund) was discussed. It was stated that the closing quotation on this stock yesterday was 124. O n motion of Dr. Noble, the Treasurer was requested to sell this stock at the market today. T h e motion carried by the following vote: Aye, M r . Armstrong, M r . Barr, M r . Blair, M r s . Busey, M r s . Evans, M r s . Grigsby, M r s . Ickes, Dr. Noble, M r . Trees; no, none; absent, M r . Small, M r . Ward.1 POLICY O N DISTRIBUTION O F I N C O M E F R O M P A T E N T S (21) A recommendation that the Board do not adopt a general policy governing the distribution of money received from patents assigned to the University, but that it deal with each case as circumstances may warrant. O n motion of Mrs. Ickes, this recommendation was adopted. DISTRIBUTION O F RECEIPTS F R O M B R O W N - K N I P P P A T E N T (22) A recommendation that the amount received for the license to manufacture radio tubes under the Brown-Knipp patent, amounting to $10,000, be distributed as follows: 1. To the Department of Physics for general research, $4,000. 2. To the Reserve and Contingent Fund to reimburse the University for expenses incurred in the research leading to the development of this tube, $2,000. 3. To Professor C. T. Knipp, $2,000, and to Assistant Professor H. A. Brown, $2,000, as a special compensation. O n motion of Mrs. Ickes, recommendation N o . 1 was approved, by the following vote: Aye, M r . Armstrong, M r . Barr, M r . Blair, Mrs. Busey, Mrs. Evans, Mrs. Grigsby, Mrs. Ickes, Dr. Noble, M r . Trees; no, none; absent, M r . Small, M r . W a r d . O n motion of Dr. Noble, recommendation N o . 2 was adopted, by the following vote: Aye, M r . Armstrong, M r . Barr, M r . Blair, Mrs. Busey, Mrs. Evans, Mrs. Grigsby, Mrs. Ickes, Dr. Noble, M r . Trees; no, none; absent, M r . Small, M r . W a r d . O n motion of Mrs. Ickes, recommendation N o . 3 was adopted, by the following vote: Aye, M r . Armstrong, M r . Barr, Mrs. Busey, Mrs. Evans, Mrs. Grigsby, Mrs. Ickes, Dr. Noble, M r . Trees; no, Mr. Blair; absent, M r . Small, M r . W a r d . 'The Treasurer reported the sale of this stock later in the day at the following prices: 200 shares at 124^3, too at 124K, and 35 at I24H-