Repository: UIHistories Project: Board of Trustees Minutes - 1936 [PAGE 480]

EXTRACTED TEXT FROM PAGE:

478

BOARD OF TRUSTEES

[November

27

On motion of Mr. Barr, the purchase of this paper from the lowest bidder was authorized as recommended.

PURCHASE OF GLASS

(17) A recommendation from the Purchasing Agent for the purchase of 142 cases of Pyrex laboratory glassware for the General Chemical Storeroom from the W. M. Welch Manufacturing Company, Chicago, at a cost of approximately $2,790. This is a non-competitive item, and this company has been selected because of the service it can render. On motion of Mr. Barr, this purchase was authorized as recommended.

THE MEDICAL PARK AT CHICAGO

(18) At its meeting on October 25, 1935 (Minutes, page 450), the Board adopted a recommendation from its Committee on General Policy that the Board "express itself as being in favor of the creation of a medical park area on the west side of Chicago to include the University's Colleges of Medicine, Dentistry, and Pharmacy, but without commitment at this time as to details of procedure in acquiring and administering this area." A text of the proposed legislation had previously been submitted to the Committee for its consideration and report. This same bill has now been introduced in the first special session of the Fifty-ninth General Assembly, and the President of "The Medical Park at Chicago" has asked the University to express whatever objections or criticisms it desires to make. I recommend that this matter be referred to the President of the University and the University Counsel with authority to submit to the officers of "The Medical Park at Chicago" a statement expressing the views of the University concerning the details of this proposed legislation. On motion of Mrs. Freeman, this recommendation was approved.

REPORT OF DAIRY COMMISSION

Mr. Mayer, for the Committee on Agriculture, reported as follows: The report of the Commission on the Department of Dairy Husbandry, as printed a the minutes of the meeting of the Board of Trustees on June 15, in r 935 (P ge 2 I 9 ) . w a s referred to the Committee on Agriculture for consideration of the recommendations concerning the policies to be followed by the Department in the operation of the creamery and the sale of milk and other dairy products. The Committee on Agriculture recommends adoption of the report and approval of the policies recommended. On motion of Mr. Mayer, this recommendation was adopted.

SALE OF SOUTHWESTERN BELL TELEPHONE COMPANY BONDS

Mr. Karraker, for the Finance Committee, reported that in accordance with the action of the Board at its last meeting the Comptroller has concluded the sale of $1500, par, of Southwestern Bell Telephone Company 5% bonds due 1954 as follows: $1000 at 106; and $500 at IO 5 / ^ - The amount realized from this transaction represents a net profit of $5.36 over the book value of the securities at the date of sale, which profit has been added to the principal of the University's endowment funds. This report was received for record.

PURCHASE OF SANITARY DISTRICT OF CHICAGO BONDS

Mr. Karraker, for the Finance Committee, reported also that in accordance with the instructions of the Finance Committee, acting under the authorization of the Board, the Comptroller has purchased as an investment of part of the University's endowment funds available for