Repository: UIHistories Project: Board of Trustees Minutes - 1930 [PAGE 125]

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122

B O A R D O F TRUSTEES

[January 9

mends the adoption of the following statement as the sense of the Board and its transmission to the Trustees of the Behavior Institute as your reply: The Board of Trustees of the University of Illinois have studied as fully as they could the request of the Trustees of the Behavior Institute, have viewed the matter from all suggested points of view, and, remembering the relation of the Institute of Juvenile Research to the Research and Educational Hospitals, set forth in the agreement between the Department of Public Welfare and the University, as originally recommended by Dr. Herman Adler and others, and remembering also the wide scope of the field of juvenile research, regret that at the present time they do not see their way clear to commit themselves on the matter submitted to them by their distinguished and respected fellow citizens, the Trustees of the Institute of Behavior. O n motion of M r . Trees, this report w a s adopted. BOOTH-ST. LOUIS BONDS M r . Trees, for the Finance Committee, reported that the Booth-St. Louis Cold Storage bonds have not been sold as authorized (page 97) because of the improved position of these securities, and r e c o m m e n d e d that the action of D e c e m b e r n , 1928 (page 97), ordering the sale of these bonds be rescinded. O n motion of M r . Trees, this recommendation w a s adopted. ELECTRICAL ENGINEERING SOCIETY LOAN FUND Mr. Trees, for the Finance Committee, made the following report: The Comptroller reports that pursuant to the action of the Board of Trustees on October 13, 1928 (page 45), accepting the offer of the Electrical Engineering Society of the University to establish a Student Loan Fund with money which the Society has made on the electrical shows, the Society turned over to him the sum of $2,600 in United States bonds which have been deposited with the Treasurer of the University. H e requests authority for the sale of these bonds at the market to make the Fund available to students in accordance with the provisions of the gift. I recommend that he be authorized to sell these securities as funds for these loans are needed. O n motion of M r . Trees, this report w a s adopted. TRUST FUND INVESTMENTS Mr. Trees, for the Finance Committee, made the following recommendation : The Finance Committee recommends that the Board of Trustees authorize and direct the Treasurer of the University to sell the securities shown on Schedule A attached. Merle J. Trees M a r y E. Busey

SCHEDULE A BONDS LISTED BY BOTH HARRIS TRUST AND SAVINGS BANK AND ILLINOIS MERCHANTS AS NOT LEGAL FOR TRUST FUNDS IN ILLINOIS

(Purchased by Board of Trustees) Approximate Market Par Book ' Security Value Value Cost Rate Total American Telephone and Telegraph, 5%. 1946 2 4 5°o 00 $ 4 598 28 $ 4 642 50 104M $ 4 691 25 Baltimore and Ohio R. R. Co., 4%, 1946 15 000 00 13 872 so «3 872 50 94 14 100 00 Chicago Union Station, 5%, 1944.... 13 coo 00 13 323 85 13 332 00 102}$ 13 325 00 Commonwealth Edison Co., 5%, 1953. 5 000 00 5 080 50 5 097 50 105 5 250 00 Federal Land Bank of Houston, 4>£%, 2 000 00 2 010 88 2 015 00 100 1943 1942 , Wichita, 4>S%, 1 000 00 980 00 980 09% 2 000 00 097 50