Caption: Board of Trustees Minutes - 1938
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2l8 BOARD OF TRUSTEES [March 29 On motion of Mr. Mayer, the Finance Committee was authorized to sell these securities as recommended. Mr. Mayer reported also that the Comptroller, with the approval of the members of the Finance Committee and the Executive Committee, has sold $30,000, par, U. S. Treasury bonds, 2%%, 1955-60. These bonds were purchased as investment of surplus cash of student loan funds, and were sold in view of the sharp decline in the market price of bonds. They represented an average book value of 1 0 2 ^ and were sold at 100 2%2, this representing a net loss on principal account of $510.11. Income on securities while held was $493.51, leaving a net loss of $16.60 on the transaction as a whole. Confirmation of this action is requested. On motion of Mr. Mayer, the action of the Comptroller was confirmed. MATTERS P R E S E N T E D BY P R E S I D E N T W I L L A R D The Board resumed its consideration of matters presented by the President of the University. LEAVE OF ABSENCE FOR PROFESSOR WILLIAM ERNEST CARROLL (13) A recommendation from the Dean of the College of Agriculture that Professor William Ernest Carroll, of the Department of Animal Husbandry, be given a leave of absence without pay, for one year and one month beginning August 1, 1937, to enable him to accept the deanship of the Utah State Agricultural College and Experiment Station and to reorganize the work of that institution. On motion of Mr. Mayer, this leave of absence was granted as recommended. LEAVE O F ABSENCE FOR DIRECTOR E. H. CAMERON (14) A request from Dr. E. H . Cameron, Director of the Summer Session, that he be given a leave of absence from the University during the period of the 1037 Summer Session. During the past twenty years he has been away from the University during the S u m m e r Session only once. Most of his work as Director is performed before the session begins, and any remaining duties will be taken over by Dean T . E. Benner of the College of Education without additional expense to the University. On motion of Mrs. Plumb, this leave was granted as requested. LEAVE OF ABSENCE FOR PROFESSOR W . A. OLDFATHER (15) Professor W . A. Oldfather, of the Department of Classics, has been given sabbatical leave of absence on full pay for the first semester of 1937-1938. H e now requests that he be given additional leave of absence covering the second semester of the same year, but without pay, so that he may accept an invitation from Columbia University to assist in the reorganization of its Classics Department and to offer graduate work there. On motion of Mr. Cleary, this leave was granted as requested. CHANGES IN SABBATICAL LEAVES OF ABSENCE (16) A report of the following changes in the sabbatical leaves of absence authorized by the Board on February 27, 1937: 1. Assistant Professor L. J. Thomas, of the Department of Zoology, reports that he did not receive the Guggenheim Fellowship for which he h a d applied and is therefore unable to accept the sabbatical leave granted for the first semester of 1937-38 on one-half pay. 2. Associate Professor D. W . Gotshalk, of the Department of Philosophy, reports that he did not receive the Guggenheim Fellowship for which he had
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