Caption: Board of Trustees Minutes - 1936
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158 BOARD OF TRUSTEES MATTERS PRESENTED BY PRESIDENT WILLARD [April io The Board considered the following matters presented by the President of the University. I N D E P E N D E N T SURVEY OF THE BUDGET FOR 1 9 3 5 - 1 9 3 7 ( i ) T h e report of Dr. W. W. Charters, of Ohio State University, and A r t h u r Andersen, of Chicago, the members of the Commission appointed by Board to make an independent survey of the University budget for biennium 1935-1937 and to report their conclusions and recommendations to Board. Mr. the the the Dr. Charters and Mr. Andersen made statements concerning this report. Their statements were supplemented in detail by Dr. Holy and Mr. Lukens. The report was discussed at length. On motion of Mr. Mayer, the Commission was requested to make a supplementary report showing in what respects, in their opinion, the work of the University might be improved. On motion of Mr. Barr, it was voted that it is the sense of the Board that the study made by the Commission has been useful, and the Board is highly gratified at the results. AUTOMOBILE PARKING AND GASOLINE FILLING STATION ACROSS FROM COLLEGE OF MEDICINE ( 2 ) A request from the University of Chicago that the Board of Trustees of the University of Illinois consent to the leasing of the property owned by the University of Chicago at the southwest corner of Lincoln and Polk streets, across from the College of Medicine, as an automobile parking and gasoline filling station. On motion of Mrs. Plumb, the consent of the Board to this request was denied. TREASURER'S BOND Mr. Karraker reported a recommendation of the Finance Committee that the bond of the Treasurer be fixed at $500,000; in which amount the Committee had negotiated an indemnity bond with the Fidelity and Casualty Company of New York. On motion of Mr. Karraker, the action of the Committee was approved, the bond of the Treasurer was fixed at $500,000, and the bond negotiated by the Committee was accepted. INVESTMENT OF ENDOWMENT FUNDS Mr. Karraker reported mittee that $8,500 of City of Chicago Board 1, 1954, at 110/2. On motion of Mr. also a recommendation of the Finance Comuninvested endowment funds be invested in of Education 4^4 per cent bonds due August Karraker, this recommendation was adopted. SECRETARY'S REPORT OF CONTRACTS The Secretary presented the following report of contracts executed by the President and the Secretary of the Board since the last meeting. Name Date Purpose Layne-Western Company March 25, 1935 To construct a packed gravel well (No. 11) The Board adjourned to meet on Saturday, April 20, 1935, at 9:30 a.m., at the Blackstone Hotel, in Chicago, H. E. CUNNINGHAM WALTER W. WILLIAMS Secretary President
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