Repository: UIHistories Project: Board of Trustees Minutes - 1942 [PAGE 274]

EXTRACTED TEXT FROM PAGE:

1941]

UNIVERSITY OF ILLINOIS

271

On motion of Mr. Jensen, these changes were authorized, by the following vote: Aye, Mr. Adams, Mr. Cleary, Mr. Davis, Mrs. Grigsby, Mr. Jensen, Mr. Karraker, Mr. Livingston; no, none; absent, Mr. Fornof, Mr. Green, Dr. Meyer, Mr. Wieland.

REPORT OF DEATH BENEFITS PAID (12) A report that the Comptroller has been authorized to pay the death benefit to the beneficiary of the following member of the staff in accordance with the University Statutes and the terms of his employment: W . A, Foster, Associate Professor and Chief of Agricultural Engineering— $2,000. Professor Foster was in the active service of the University from September 1, 1924, until his death on April 12, 1941.

This report was received for record.

PATENT ON PHOTOTUBES (13) T h e Secretary of the Board of Trustees reports the receipt of the original U. S. Letters Patent No. 2,237,242, issued April I, 1941, to Joseph Tykocinski Tykociner and Lloyd Preston Garner, and Jakob Kunz, deceased, by Anna Kunz, Executrix, assignors to the Board of Trustees of the University of Illinois, for Phototubes.

This report was received for record.

THE LYDIA E. PARKER BATES F U N D FOR THE ADVANCEMENT OF FINE ARTS (14) T h e will of the late Mrs. Lydia E. Bates, of Maroa, Illinois, who died on February 10, 1941, sets up a trust estate and directs the trustees to convert it into cash and, after all taxes, insurance, repairs, and other expenses and certain minor legacies have been paid, to transfer the bulk of it to the Board of Trustees of the University of Illinois to establish a fund to be known as the "Lydia E. P a r k e r Bates Fund for the Advancement of Fine Arts." In the petition for the probate of her will it was stated that the maximum value of the personal property is $30,000 and of the real property (two farms in Macon County aggregating between 600 and 700 a c r e s ) , $125,000. T h e fund and the income therefrom shall be used to aid deserving students of promise engaged in the study of one or more of the fine arts at the University of Illinois, or elsewhere if under the sponsorship of the University. T h e student or students to receive aid shall be selected by or under the direction of the Board of Trustees under their regulations. T h e Board is required to make a public report of the investments of this fund and of the income and expenditures therefrom in any appropriate bulletin or publication containing similar reports of other trust funds or endowments. Should the teaching of fine arts at the University of Illinois be abandoned or if for other reasons it becomes impossible to carry out the provisions of this will, it provides that the fund may be transferred by court order to other trustees and administered for the benefit of students of fine arts of some other college or university, preferably in the State of Illinois. A copy of the extract from Mrs. Bates' will is hereby given to the Secretary of the Board for record. T h e University has already received the sum of $1,351.20 from the Connecticut Mutual Life Insurance Company, the proceeds of one of the policies carried by Mrs. Bates.

This report was received for record.

B O N D OF THE TREASURER

The Secretary reported for record the receipt of the bond of Mr. Frank M. Gordon, Treasurer, as printed below, and the formal termination as of April 18, 1941, of the bond executed by the Lumbermens Mutual Casualty Company.