Repository: UIHistories Project: Board of Trustees Minutes - 1938 [PAGE 199]

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1937]

UNIVERSITY OF ILLINOIS

197

and demonstration purposes as fertilizers the phosphates manufactured a t Muscle Shoals. In February, 1936, the Board of Trustees authorized cooperation with the Tennessee Valley Authority in a project to demonstrate the need of phosphorus in the growing of soil conservation and improvement crops on soils iow in phosphorus. The agreement covering this project expired June 30, 1936. The new agreement submitted by the Dean is for the fiscal year ending June 30, 1937, "and thereafter from year to year until terminated by notice in writing by either party to the other thirty days before the end of any fiscal year." There is a provision that on termination of the agreement the University shall complete and deliver to the Authority any reports or other data that may be incomplete as of the date of termination. The Authority will furnish the fertilizers and wiil reimburse the University for certain of the expenses incurred in the distribution thereof and in the experimental and demonstration work. O n m o t i o n of M r . P o g u e , t h i s a g r e e m e n t w a s a p p r o v e d . EXTENSION OF AGREEMENTS FOR COOPERATIVE INVESTIGATIONS (12) A report of the extension of the following agreements for cooperative investigations: 1. Musher Foundation, investigation of the anti-oxidant properties of oat-flour in the prevention of tallowy flavor in dairy products, for six months from February 1, 1937, with the understanding t h a t it may be extended for additional periods under the same terms or such other terms as may be mutually agreed on, to be carried out by the Agricultural Experiment Station. A similar agreement was authorized by the Board last year. The Foundation agrees to contribute an additional $100 for this study. This is a new agreement, similar to the agreement covering the investigation of the use of oat-flour on lard and meats authorized last year. 2. National Warm Air Heating and Air Conditioning Association, cooperative investigation of warm air furnace heating, for one year from April 15, 1937. The Association has agreed to contribute $5,000 for the continuation of this investigation during that period. O n m o t i o n of M r s . F r e e m a n , t h e e x t e n s i o n of t h e s e w a s confirmed. agreements

CANCELLATION OF LEVIS LOAN F U N D NOTE (13) In establishing the William E. Levis Loan Fund, as reported to the Board of Trustees on June 29, 1936 (Minutes, page 881), Mr. William E. Levis turned over to the University the sum of $5,000 together with notes representing loans made by him to various students at the University in the sum of $15,150, among which was a note for $410 signed jointly by Aubrey Forman and his mother, Mrs. Bert Forman, of Toledo, Ohio, due January I, 1940. Mr. Forman is blind and his parents have suffered very serious reverses, so t h a t it will be impossible for them to pay this note. The donor of the fund has requested that no attempt be made to collect the note and t h a t it be returned to the signers. Since this note was a part of a gift to the University, the Comptroller has been instructed to comply with the request and cancel the note.

On motion of Mr. Cleary, this action was confirmed.

INVESTMENT OF STUDENT LOAN F U N D S (14) A report from the Comptroller that in accordance with instructions of the Board of Trustees at the meeting on December 15, he has purchased $10,000 Treasury 2%% bonds, maturing i960, optional 1955 at I03 2 %j, to yield about 2.6% to the optional date, as an investment of surplus cash in the student loan funds. T h i s r e p o r t w a s r e c e i v e d for r e c o r d . W I L L OF CELINDA H. McCULLOUGH (15) The Secretary of the Board reports t h a t he has received from the Clerk of Champaign County a copy of a petition recently submitted for the probate of the will of the late Celinda H. McCuUough, of Urbana, in which the Board of Trustees of the University of Illinois is named as a legatee. The petition does not indicate the nature or conditions of the bequest.