Repository: UIHistories Project: Board of Trustees Minutes - 1938 [PAGE 552]

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550

BOARD OF TRUSTEES

[October 15

since when the trustee of the estate has liquidated the same as directed in the will. A n auditor's account of the trustee's transactions in this estate indicates that the amount to be received by the University is $13,597.10. T h e attorney for the estate has asked that if the Board of Trustees of the University determines to accept the bequest it pass a resolution to that effect and the following is hereby offered:

RESOLUTION

Whereas, Samuel H a r e , who died on July 4, 1924, left a will in which he bequeathed to the Board of Trustees of the University of Illinois a sum of money in trust to be used as a loan fund, the language of the gift under the will being as follows: "I give and bequeath to T h e Board of Trustees of the University of Illinois, all the rest and residue of my estate, and my said executor and trustee shall pay and deliver the same to said trustees, to be held by them in trust as a fund to be loaned to deserving and meritorious students attending said University, in Champaign County, Illinois, to be known as the Samuel and Lydia H a r e Students' Loan Fund. T h e purpose of this bequest is to enable students who have by previous study demonstrated their worthiness but are without means to meet necessary student expenses to continue study in said University. Loans shall be made at current legal rates of interest and upon such security as said Board may deem adequate. T h e aggregate of loans made to any one student shall at no time exceed the sum of Five H u n d r e d Dollars. " T h e said fund and such accretions as may come to it by way of interest shall be permanent and perpetual and no part of it shall at any time be diverted from the purpose herein indicated"; and Whereas, T h e widow of this decedent, who owned a life estate in the property of the testator, died May 3, 1935, and therefore the gift under the will becomes available; Now, therefore, be it resolved, that the gift aforesaid is accepted by the Board of Trustees of the University of Illinois in accordance with the terms thereof and the Comptroller is directed and authorized to execute a receipt in due form when such bequest is delivered to the University. Be it further resolved, that the Comptroller be authorized to receive in satisfaction of the gift aforesaid cash or government bonds of the approximate aggregate amount of $13,597.10.

On motion of Mr. Moschel, this resolution was adopted.

GIFTS TO T H E UNIVERSITY (30) T h e following report of gifts received by the University: 1. Prest-O-Lite Storage Battery Corporation, Indianapolis, Indiana, not less than $2,700 for the work of Dr. J. N . Mrgudich for the next twelve months. 2. T h e Textile Foundation, Washington, D. C , a grant of $600 renewing the Foundation's fellowship in Chemistry for the year 1937-1938. 3. T h e Bowman Dairy Company and the Chicago Medical Society, $1,200 for research work on the immunity factors of milks of both human and animal origin, with particular reference to allergic diseases associated with the consumption of milk. 4. State of Illinois, $4,000 for the testing work on expansion joints which is being conducted by Professor W . C. Huntington. 5. T h e E d w a r d Orton Jr. Ceramic Foundation, $250 for a fellowship in Ceramic Engineering. 6. Federal Cartridge Company, an additional contribution of $500 for F o u r - H Club Conservation W o r k .

This report was received for record.

DELIVERY OF EQUIPMENT FOR MEDICAL A N D DENTAL BUILDING (31) A statement that the University has been seriously inconvenienced and put to additional expense because of the delay of the General Fireproofing