Caption: Board of Trustees Minutes - 1938
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I937] UNIVERSITY OF ILLINOIS Book value 106.75 107.25 108 105 103-95 114.4 100.67 293 Current price 105 102% 105% 105 106% 111% 102 Par 55 ooo 5 ooo 2 ooo 10 0 0 0 3 000 8 500 10 0 0 0 Issue Per cent Maturity Duquesne Light Co 3)^ 1965 Niagara Falls Power Co 3)^ 1966 Southwestern Bell Telephone Co 3J4 1964 City of New York 4 1940 U. S. Treasury 3% 1944 U. S. Treasury. 4 1944 U. S. Treasury 3 1938 Yield 3.12 3.16 3-05 2.80 2.63 1.85 2.60 OSCAR G . MAYER, KARL A. MEYER Louis C. MOSCHEL Chairman On motion of Mr. Mayer, this sale of securities and reinvestment of funds was authorized. PURCHASE OF SECURITIES AS INVESTMENTS OF ENDOWMENT FUNDS Mr. Mayer also reported that the Comptroller reports the purchase of the following securities, authorized by the Finance Committee, as investments of endowment funds: ?5,ooo par, Iowa Power & Light, 1st 4^2%, 1958 at 106 $5,000 par, Virginia Railway, 1st 3}i%, 1966 at 104^2 $5,000 par, Goodyear Tire & Rubber Co., 1st Collateral, 5%, 1957 at 104%. On motion of Mrs. Plumb, this action was approved. TREASURER'S B O N D Mr. Mayer reported also as follows: T h e Comptroller reports that the Fidelity and Casualty Company, which has furnished the bond for Mr. F r a n k M. Gordon as Treasurer of the University, has reduced the premium on this bond from $4.00 to $2.50 a thousand, effective March 11, 1937, the date of renewal of the present bond. This represents a reduction of $750 a year in the premium. T h e members of the Finance Committee have approved the renewal of the bond with this Company on the reduced premium basis. On motion of Mr. Mayer, this action was confirmed, and the bond of the Treasurer was accepted. INSTALLATION OF EQUIPMENT IN NEW MEDICAL BUILDING On motion of Mrs. Plumb, the Committee on Chicago Departments and Mr. Havens were authorized to confer with the existing contractors on the imperative need to install equipment in the new Medical Building and to secure further information on the cost. REPORT OF CONTRACTS A N D PURCHASE O R D E R S (29) T h e following report from the Comptroller of contracts and purchase orders executed since the last report: CONTRACTS EXECUTED BY THE COMPTROLLER M A Y 8, 1937, TO J U N E 4, 1937 Cooperative investigation authorized by Board of Trustees in meeting of May 13, 1937 (Minutes, page 262) : Amount to be received by the * With whom For University Date Chicago Vitreous Enamel Investigation of $3,500 per year for May 17, 1937 Product Company enamel frits two years
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