Caption: Board of Trustees Minutes - 1938
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1938] UNIVERSITY OF ILLINOIS 607 M r . M a y e r p r e s e n t e d a l s o t h e f o l l o w i n g s t a t e m e n t of s a l e s a n d p u r c h a s e s of e n d o w m e n t i n v e s t m e n t s n o t p r e v i o u s l y r e p o r t e d . Price at which sold Book Value at time of sale Amount realized from sale Net Profit Par $2,000 Description Cincinnati Union Terminal Co. 5 % bonds, due 5-1-57 KINLEY ENDOWMENT SALES 107^ $2 147 31 Price at which $2 150 00 2 69 Book GROUP INVESTMENTS PURCHASES purchased Yield Value $5,000 $2,000 Wilson and Co. 4's of 1955 Chicago, Burlington and Quincy R.R. 1st and refunding " A " 5's, due February i, 1971 94K 4 43 H 737 5° KINLEY ENDOWMENT PURCHASES 108K 4 50 $2 170 00 This report w a s received for record. CONTRACT FOR ELECTRIC POWER Mr. Adams, for the Committee on Buildings and Grounds, presented a recommendation that the University Counsel be instructed to appear before and to petition the Illinois State Commerce Commission for an extension of the contract with the Illinois Iowa Power Company for standby electric service to July i, 1939. On motion of Mr. Adams, this recommendation was adopted. MATTERS PRESENTED BY PRESIDENT WILLARD The Board resumed consideration of matters presented by the President of the University. AGREEMENT W I T H GENERAL FOODS CORPORATION FOR STUDY OF W H I T E C O R N HYBRIDS FOR MANUFACTURE OF HOMINY OR FLAKING GRITS (35) T h e Dean of the College of Agriculture recommends approval of an agreement with the General Foods Corporation for a study looking forward to the development of high yielding white corn hybrids or strains suitable for manufacture of hominy or flaking grits. This agreement is drawn for a period of one year beginning February I, 1938, but the company would like the privilege of extending it from year to year at its expiration. T h e General Foods Corporation agrees to provide $900, which will be used to employ a graduate assistant to supervise the work. T h e agreement conforms in all respects to the University Statutes and policies relating to such investigations, and I recommend approval. On motion of Mr. Cleary, the execution of this agreement was authorized as recommended. AGREEMENT FOR DISTRIBUTION OF VEGETABLE SEED VARIETIES (36) A report of the execution of an agreement with the Vaughan Seed Store, Inc., of Chicago, to facilitate the introduction and distribution of a new variety of lima bean to be known as the Baby Potato lima bean, developed by the Agricultural Experiment Station. This agreement is similar to one previously authorized by the Board with the same company for the introduction of new
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