Repository: UIHistories Project: Board of Trustees Minutes - 1946 [PAGE 367]

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364

BOAKD OF TRUSTEES

[February 24

3. Interesting private investors in the purchase of the property. 4. Advertising the lots for sale directly to private purchasers. T h e original holdings and sales of lots are as follows: Purchased Sold Full lots (20' x 24') 183 2 Quarter lots (10' x 12') 159 57 Single burial spaces (10' x 3') .260 17 Total 602 76 Purchase price Attorney's fee Total Original Investment Expense to September 30, 1944 Total Investment as of September 30, 1944 Gross sales to date $6 535 00 Advertising expense 105 03 Net Investment as of September 30, 1944 $22 000 292 $22 292 3 478 $25 771 00 48 48 75 23

6 429 97 $19 341 26

Even on the basis of the prices (they are relatively lower than other cemetery rates) at which the University has been selling its lots during the past several years, the retail value of the present unsold lots amounts to approximately $93,000. It is recognized that some improvements will have to be made and that the University will have to make such an investment if it retains control of its lots and desires to promote an active sales program, but these should not be in excess of $10,000 and probably would be less. Therefore, it is possible to make a substantial profit on the sale of the remaining lots. T h e University should dispose of its holdings as soon as possible, and while ultimately it might make a substantial profit through direct sales to individual purchasers, the University should not be primarily interested in making a profit or in continuing in the cemetery business but should recover at least its original investment. Under the circumstances the University would not be justified in accepting any loss. T h e Director of the Physical Plant Department and the Comptroller recommend and I concur that the University reject Mr. Thrasher's offer of January 18. I further recommend that the University do not consider any offer which would not recover its present investment and expenses incurred in holding this property. O n m o t i o n of M r . J e n s e n , t h e s e r e c o m m e n d a t i o n s w e r e a p p r o v e d and adopted. EMPLOYMENT. O F ATTORNEYS (5) As previously reported to the Executive Committee of the Board (November 2, 1944, Minutes, page 289), Dean Albert J. H a r n o of the College of Law and Legal Counsel has requested authority to employ local (Champaign and U r b a n a ) counsel to represent the University in cases which because of their nature and the time required, especially for appearances in Court, can not be handled by him and other members of the faculty of the College of Law without interference with their teaching and other University duties. T h e Executive Committee authorized the employment of Chapman and Cutler in two of these cases. One of them, the case of Verne E. Scott v. The Industrial Commission and the University of Illinois, a workmen's compensation case, may involve an appeal to the Supreme Court. Chapman and Cutler have suggested that in this case they be authorized either to employ local counsel to be associated with them, or that such local counsel represent the University directly. In view of this, Dean H a m o recommends that (1) Chapman and Cutler be relieved of further responsibility in the Scott case and that they be asked to turn it back to the University, which is agreeable to that firm; and (2) the Board authorize the employment by the University's Legal Counsel of