Repository: UIHistories Project: Board of Trustees Minutes - 1938 [PAGE 797]

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UNIVERSITY OF ILLINOIS

795

ordered to match equipment now in use and can be obtained only from this manufacturer. 3 Equipment for Agricultural Library: 8-48" x 102" Oak Library Tables-Pedestal Bases 4-48" x 156" Oak Library Tables-Pedestal Bases from W. B. Read & Company, Bloomington, the lowest bidder. 4. 15,000 feet, first grade 13/16" x 2%" maple flooring for the Physical Plant Department's stock, from the Missouri H a r d w o o d Lumber Company, Kansas City, Missouri, the lowest bidder, at a price of $1,155 f.o.b. Urbana. 5. Porcelain laboratory ware for the General Chemical Stores from E. H . Sargent & Company, Chicago, the lowest bidder, at a price of $1,663.87 f.o.b. Urbana. 6. 450 cartons n " x i 5 " bleached paper towels from W . B. Read & Company of Bloomington, the lowest bidder, at a price of $3.39 per carton, f.o.b. Urbana. 7. One 200,000-volt deep-therapy X-ray unit consisting of generator, control board, shock-proof tube unit, oil cooling system and listed accessories, from the Picker X-Ray Corporation, the lowest bidder, at a net price (after allowance for present equipment which will be turned in as part payment) of $4,695.00. O n m o t i o n of M r . K a r r a k e r , t h e s e p u r c h a s e s w e r e a u t h o r i z e d a s recommended. STEAM BOILER INSURANCE (31) The University carries insurance on all steam boilers and certain other high-pressure machinery. T h e policies expire May 1, 1938, and should be renewed at this time. Sealed quotations on this insurance on the basis of uniform specifications were received and opened on April 15. With one exception (the American Employers Liability Assurance Corporation) the bids are uniform as to basic rates. The Lumberman's Mutual Casualty Insurance Company writes a policy in which the policy holder participates in a dividend from the net earnings of the company, payable at the close of each policy year. While the dividend rate is not guaranteed, in the past several years it has amounted to 25 per cent of the premium. On this basis the net cost of a policy with this company would be 25 per cent, or $1,118.60, less than that of other companies. T h e University would be required to pay the full amount of the premium, at the same rate as quoted by other companies except the American Employers Liability Insurance Corporation, but receive a refund at a later date as an offset to this payment. This dividend would make the Lumberman's Company's net premium rate the lowest of all quotations received. The Purchasing Agent recommends, and the Director of the Physical Plant Department and the Comptroller concur, that this insurance be placed with the Lumberman's Mutual Casualty Insurance Company, of Chicago, for the next three years. The University Counsel has advised that it is entirely legal for the University to purchase a policy of this kind in such a company. O n m o t i o n of M r . K a r r a k e r , t h i s c o n t r a c t w a s a w a r d e d t o t h e Lumberman's M u t u a l Casualty Insurance C o m p a n y as recommended. PURCHASES A U T H O R I Z E D (32) A report of the following purchases authorized by the President of the University in accordance with the University Statutes: 1. Chairs for the Auditorium (2,100) from the American Seating Company at a total price of $14,774.00. 2. Carpet, draperies, and curtains for Auditorium stage from the YaegerJacquin Company, Incorporated, Peoria, the lowest bidder, at a total cost of $1,066.12. 3- Linoleum for the Auditorium, felt and paste for laying, from F . K. Robe-