Repository: UIHistories Project: Board of Trustees Minutes - 1940 [PAGE 948]

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1940]

UNIVERSITY OF ILLINOIS

945

Gregory Hall Change Order No. 3, contract with American Seating Company for Seating, Group VIII—Equipment. Provide seat numbers for lecture room seats (Room Nos. 100, 213, 223, and 319) and the auditorium—1,153. Above to be in accordance with your quotation dated May 9, 1940, and our letter dated May n , 1940, 1,153 s e a t numbers @ $.07 per seat—Add $ 80 71

On motion of Mrs. Plumb, the action of the President of the University in approving these change orders was approved and confirmed.

REPORT OF FINANCE COMMITTEE At this point, M r . Moschel presented the following report: On advice of our investment counsel, the Finance Committee recommends the following changes in endowment fund investments: 1. Sale of $12,000 par Atchison, Topeka and Santa Fe, Rocky Mountain Division, First 4% bonds due 1065, held at a book value of 92.28 at the current market, about gg%. 2. Authority for purchase of $10,000 par Alabama Power Company, First 5% bonds due 1946 at about 105^2.

On motion of Mrs. Plumb, this sale and purchase of securities was authorized.

CARTER-PENNELL FARMS

Mr. Moschel, for the Committee on Agriculture, presented a recommendation that the report of the operation of the Carter-Pennell Farms for the year ending February 28, 1939, be accepted, and that the repairs and improvements recommended be authorized. On motion of Mrs. Plumb, this recommendation was adopted.

SANITARY IMPROVEMENTS ON SOUTH FARM

Mr. Moschel presented the following report:

At the meeting of the Board on February 16, 1940 (Minutes, page 748), the Board received recommendations from the Director of the Physical Plant Department for certain sanitary improvements on South F a r m buildings. The Board appropriated $2,485 for certain improvements and referred the other items to the Committee on Buildings and Grounds. T h e original proposal contemplated moving two houses at an estimated cost of $7,850. As an alternative to this program the Director of the Physical Plant Department recommends: (1) Construction of a new house at the P u r e Bred Barn (including garage, septic tank, and disposal field), at an estimated cost of $6,200. (2) Construction of a septic tank at the Animal Husbandry house (the Edgar house), at an estimated cost of $540. (3) T h e razing of the tenant house on Pennsylvania Avenue. It was originally proposed to move this house to the P u r e Bred Dairy area, but it will not meet the requirements of the Dairy Department. (This will involve no expense, as whoever acquires the house for wreckage will bear the cost thereof.)

On motion of Mrs. Plumb, this program was approved, and the appropriation was made as recommended, by the following vote: Aye, Mr. Pogue, Mrs. Plumb; absent, Mr. Cleary.

MATTERS PRESENTED BY PRESIDENT WILLARD

The Executive Committee resumed consideration of matters presented by the President of the University.