Repository: UIHistories Project: Board of Trustees Minutes - 1936 [PAGE 443]

EXTRACTED TEXT FROM PAGE:

1935 ]

UNIVERSITY OF ILLINOIS

441

surplus of $8,393, which is set up as a part of the Department's resources. T h e policies recommended by the Commission would reduce this surplus by $3490. 2. A reduction in the sales of fluid milk. At present all milk produced by the University herd is sold as fluid milk. T h e Commission recommends a reduction in volume of fluid milk sales which would cause some of the milk to be used in manufactured dairy products. This would decrease sales and lower the receipts by $800. It is clear that adoption of the policies recommended by the Commission would reduce the estimated resources of the Department of Dairy Husbandry by a total of $4,290. Notwithstanding this the Head of the Department and the Dean of the College recommend approval of these policies by the Board of Trustees as a basis for the University dairy's commercial operations. Questions concerning these operations have been raised frequently for many years. T h e report of the Commission suggests a way of settling matters which is agreeable to the local milk producers association. Operating on this basis, the Department will require an addition of about $4,300 to its budget before the end of the fiscal year, although it is not needed at this time. O n m o t i o n o f M r . B a r r , t h e m a t t e r o f t h e effects o f t h e p o l i c i e s recommended in the report of the Commission on the Department of Dairy H u s b a n d r y w a s r e f e r r e d t o t h e C o m m i t t e e o n A g r i c u l t u r e for f u r t h e r s t u d y arid r e p o r t . UNIVERSITY OF ILLINOIS FOUNDATION (15) T h e first meeting of the Board of Directors of the University of Illinois Foundation was held in Chicago on Friday, August 9, 1935, at which the following officers of the Foundation were elected:

Mr. K. J. T. E K B L A W , President Mr. R A L P H C H A P M A N , Vice President Mr. LLOYD MOREY, Treasurer

The appointment of an Executive Director was deferred until a later meeting, and a committee was appointed to consider various candidates and make recommendations. The tentative constitution of the Foundation was discussed and was referred to a special committee for revision, in consultation with the University Counsel, and for submission at the next meeting. The newly elected officers of the Board were instructed to proceed with the incorporation of the Foundation. T h e second meeting of the Board of Directors of the University of Illinois Foundation was held in Chicago on September 6, 1935, at which the Directors adopted a constitution and by-laws for the Foundation which had been prepared by a constitutional committee consisting of President K. J. T. Ekblaw, of the Foundation, Mr. Glenn M. Hobbs, one of the Directors, and Judge Sveinbjorn Johnson, University Counsel. T h e incorporation of the Foundation has now been accomplished. The terms of office of the first Board of Directors were decided by lot, in accordance with the provisions of the constitution, as follows: Directors from the Alumni Association

D r . DAVID K I N L E Y , 1 2 years Mr. R A L P H CHAPMAN, I y e a r Mr. GLENN M. HOBBS, 1 I year Mr. ROBERT F . CASK, 3 years Mr. C. S. PILLSBURY, 3 y e a r s Mr. J O H N CHESTER, 2 y e a r s

Directors from

the Board

of Trustees

Mr. GEORGE A. BARR, I year

Mr. H . A. POGUE, 3 years Mr. E. E. BARRETT, 2 y e a r s

(These terms are presumably to run from June 8, 1935, the date of the last annual meeting of the Alumni Association, since the constitution of the Foundation provides for the annual meeting of the Board of Directors at Commencement time.)

^ h e s e members have since resigned.