Caption: Board of Trustees Minutes - 1936
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154 BOARD OF TRUSTEES [ M a r c h 12 given by the Board to the finance committee to invest available endowment funds: $3 000 Appalachian Power Co. 5% 1941 Iowa Railway and Light Corporation 5% 1046. State of Illinois Highway Bonds 4% 1947 Oregon Railroad and Navigation Co. 4% 1946 2 000 1 000 „ 2 000 5 000 4 000 Cordially yours, LLOYD MOREY Comptroller T h i s matter w a s referred to the Finance Committee for examination and report. INVESTMENTS IN PUBLIC UTILITY BONDS (23) Legislation regulating public utility holding companies which is pending in the United States Congress may seriously imperil some of the University's investments of endowment funds. Over fifty per cent of these funds are invested in bonds of privately owned public utility companies. The Comptroller has raised the question whether the University should cooperate in the work of the American Federation of Utility Investors, Incorporated, in its effort to safeguard the interests of such investors. T h i s matter was referred to the Finance Committee for consideration a n d report. SERVICES OF D U N AND BRADSTREET IN COLLECTING ACCOUNTS (24) A recommendation from the Comptroller that the services of the Chicago Office of Dun and Bradstreet be retained to assist the University in the collection of certain accounts and student loans. Some of these accounts warrant action of a vigorous character, and in using this service care will be exercised in the kind of claims referred to the agency, and in the methods followed in securing collection. I recommend approval of this proposal and that the Comptroller and Secretary of the Board be authorized to execute an agreement with Dun and Bradstreet for this service. On motion of M r . Mayer, this recommendation was adopted. SCHOLARSHIPS AND FEES (25) A report of the faculty committee on scholarships and fees. A special committee of the Board, consisting of Mr. Barrett, Mr. Armstrong, and Mr. Trees, has been working on this matter. T h e President of the Board was; requested to fill the vacancies on the special committee to consider scholarships and fees, and this matter was referred to the committee for consideration and report at an early date. President Williams later appointed M r . Barrett, M r . Barr, and M r . Pogue to serve on this committee. TIME OF APRIL MEETING It w a s voted to hold the April meeting in Chicago during the early p a r t of the month, the exact date to be fixed by the President of the Board. RESIGNATIONS T h e Secretary presented for record the following list of resignations. Elmes, Ronald B., Research Assistant in Agricultural Economics, in the Agricultural Experiment Station—resignation effective March 1, 1935.
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