UIHistories Project: A History of the University of Illinois by Kalev Leetaru
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Repository: UIHistories Project: Board of Trustees Minutes - 1936 [PAGE 394]

Caption: Board of Trustees Minutes - 1936
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392

BOARD OF TRUSTEES

[September 28,

In recording this tribute to the memory of their former colleague and friend the members of the Board of Trustees direct the Secretary to send a copy of this message to the members of the family of Mrs. Ickes as an expression of the sorrow of the Board and its deepest sympathy with them in their great loss.

On motion of Mrs. Plumb, this resolution was adopted, by unanimous vote.

MATTERS PRESENTED BY PRESIDENT WILLARD T h e B o a r d c o n s i d e r e d t h e f o l l o w i n g m a t t e r s p r e s e n t e d b y t h e President of the University. KATE NEAL KIN LEY MEMORIAL FELLOWSHIP (1) The following letter from Dr. David Kinley, President Emeritus of the University: September 18, 1935 To the Board of Trustees of the University of Illinois

LADIES AND GENTLEMEN:

I have been informed that the original, signed, deed of gift from myself, establishing the Kate Neal Kinley Memorial Fellowship Endowment cannot be found in the archives of the University; that the purported text of the Deed of Gift as printed in the Minutes of the meeting of your Board on September 29, 1931, was from an unsigned carbon copy; that there is some doubt as to the textual accuracy of the Deed as there printed. In view of these facts, it might be held that no legal establishment of the Endowment was ever made. In order to remove any doubt as to the legality of the transaction I am now sending you what I consider an accurate statement of the terms of said Endowment, being the text as printed in your Minutes of September 29, 1931, except for the following changes in paragraph three: In line 2 of said paragraph after the word "Endowment," insert the words "or the current income thereof"; and in line 5, after the word "otherwise," insert the words "so as to yield the minimum annual income as stipulated in paragraph one"; etc. The purpose of paragraph three is to ensure that the stipend of the Fellowship shall always amount to at least the minimum income of one thousand dollars mentioned in paragraph one. I am of the opinion that the text as printed in your Minutes of September 39, 1931, does not fully secure that purpose; and I do not remember now whether that text is as I wrote it or contained the words now added. In any case, the words now inserted in paragraph three do not in any degree affect the responsibility of your Board, and therefore I request that the text of the Deed of Gift as thus worded be now accepted by your Board as the true and correct terms of the Deed of Gift of the said Kate Neal Kinley Memorial Fellowship Endowment offered to and accepted by your Executive Committee on August 25, 1931; and I hereby approve all actions of your Board and its representatives hitherto taken under the text of the Deed of Gift as printed in your Minutes of Sept. 29, 1931. Although not connected with the above subject matter, may I call the attention of your Board to paragraph six, giving you full discretion as to reinvestment ?

DAVID KINLEY

I recommend that this deed of gift be accepted and that it be printed in the Board Minutes. The original deed of gift is hereby handed to the Secretary of the Board for safekeeping.

KATE NEAL KINLEY MEMORIAL FELLOWSHIP

I hereby offer the Board of Trustees of the University of Illinois securities of the par value of Twenty Thousand Dollars ($20,000.00) for the purpose of establishing a Fellowship in memory of my wife, Kate Neal Kinley, subject to the following conditions and provisions, which are to be accepted as part of this Trust by said Board of Trustees.