Repository: UIHistories Project: Board of Trustees Minutes - 1936 [PAGE 82]

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80

BOARD OF T R U S T E E S

[December

15

MERGER OF S T U D E N T LOAN F U N D S (8) The Comptroller reports that in accordance with the statutes of the Board the following loan funds have been merged into the Consolidated Student Loan Fund: Class of 1895 fund received June, 1895; present principal $284 94 Graduate Club loan fund received June, 1907; present principal 172 35 Automobile Show loan fund received September, 1931, (this fund was given merely with the stipulation that it be turned over to the Student Loan Fund and without specification that a separate fund be set up); present principal 160 72 Student Friendship fund, received December, 1933; balance received with the understanding that it be added to our Student Loan Fund 34 12 Total On motion of M r . Trees, this action was approved. I N D E P E N D E N T SURVEY OF T H E UNIVERSITY BUDGET (9) The President presented a report of his conference with the Governor on December 8 on the proposed independent study of the University budget, ordered by the Board at its meeting on November 10. T h i s m a t t e r w a s discussed, b u t n o a c t i o n w a s t a k e n . INVESTMENT OF ENDOWMENT FUNDS M r . T r e e s r e p o r t e d , for t h e F i n a n c e C o m m i t t e e , t h e i n v e s t m e n t o f e n d o w m e n t f u n d s a s follows: Central Illinois Light Co. Detroit Edison Co. $2,000 5%, 1943 @ i«7?< $5,000 5%, 1949 @ 108K ?3>ooo 5%, 1943 @ I 0 7 # $3,000 5%, 1952 @ 109 Oregon Railway & Navigation Co. Commonwealth Edison Co. $2,000 4%, 1946 @ 1 0 5 ^ $4,000 5%, 1953 @ 108K $1,000 4%, 1946 @ 105K $2,000 5%, 1953 @ 109 $2,000 4%, 1946 @ 1 0 5 ^ $1,000 5%, 1953 @ 109X O n m o t i o n o f M r . B a r r , t h i s r e p o r t w a s r e c e i v e d for record, a n d t h e F i n a n c e C o m m i t t e e w a s a u t h o r i z e d t o i n v e s t $1,758, which i s t h e a m o u n t of e n d o w m e n t funds n o t y e t invested, in suitable securities. At this point, Mr. Trees withdrew. T h e Board resumed its consideration of m a t t e r s presented by the President of t h e University. PROPOSED B U I L D I N G S AT T H E UNIVERSITY (10) The following statements concerning proposed new buildings at the University: A. A statement from Dean F. B. Noyes, of the College of Dentistry, concerning the completion of the Medical and Dental Laboratories Building. B. A resolution from the Illinois Press Association concerning a building for the School of Journalism. C. A statement from Colonel Fred R. Brown, Professor of Military Science and Tactics, concerning a riding hall or armory annex for the Reserve Officers' Training Corps. D. A resolution from the Illinois Mining Institute concerning a building for the State Geological Survey Division. The first two items were presented to the Board at its meeting on November 10, but the time was too short to permit any extended discussion, and action on them was deferred until the present meeting. In the meantime copies of the statements presented and a brief history of the movement started by the Illinois Press Association to consider a building for the School of Journalism were sent to each member of the Board. $652 13