Repository: UIHistories Project: Board of Trustees Minutes - 1946 [PAGE 882]

EXTRACTED TEXT FROM PAGE:

1945]

UNIVERSITY OF ILLINOIS

875

of Section Eighteen (18), Township Nineteen (19) North, Range Nine (9) East of the T h i r d Principal Meridian, in the City of Urbana, in the County of Champaign, and the State of Illinois; and 606 South Mathews Avenue Lot Six (6) in Block T w o (2) of Nina B. Bronson's Subdivision of part of the East one-half ( E y 2 ) of the Southwest one-quarter ( S W ^ i ) of the Northeast one-quarter (NE}4) of Section Eighteen ( 1 8 ) , Township Nineteen (19) North, Range Nine (9) East of the T h i r d Principal Meridian in t h e City of Urbana, Champaign County, State of Illinois, and to offer as the purchase price to be paid by said Board of Trustees therefor the sum of $42,500 for conveyance of said real estate, to be made to the purchaser in fee simple, free and clear of all encumbrances; and if said offer is not accepted by the said owner or owners, the said Sidney B. Trelease is authorized to secure from the said owner or owners their best counter offer and lowest price at which they are willing to sell, and to "convey to the said Board of Trustees, or its executive committee, any counter offer made by the owner or owners of said real estate. I concur. O n r e c o m m e n d a t i o n of t h e F i n a n c e C o m m i t t e e , a n d o n m o t i o n of M r . Fornof, this resolution w a s adopted. INVESTMENT O F SURPLUS STUDENT LOAN F U N D S Mr. Williamson, for the Finance Committee, reported as follows: The Finance Committee, on advice of the First National Bank of Chicago, investment counsel, recommends approval of the following securities as investments of surplus cash of approximately $40,000 in student loan funds: Recent Market U. S. Treasury 2% due December 15, 1954 103 5/32 U. S. Treasury V/2% due December 15, 1950 101 10/32 Victory Loan Fund V%% bonds of approximately one year maturity 100

K. E. WILLIAMSON, Chairman

CHESTER R. D A V I S F R A N K H . MCKELVEY

O n m o t i o n of M r . W i l l i a m s o n , t h e s e i n v e s t m e n t s w e r e a u t h o r i z e d . INVESTMENT RECOMMENDATIONS M r . W i l l i a m s o n , for t h e F i n a n c e C o m m i t t e e , r e p o r t e d also as follows: T h e Finance Committee, on advice of the First National Bank of Chicago, investment counsel, recommends the purchase of the following securities as investments of endowment funds in which approximately $50,000 is available for investment: Shares Common Stocks Recent Market 200 Underwood Corporation 68 yi 200 Crane Company. 40 >£ 100 Chrysler Corporation 125 100 Pacific Gas & Electric (100 shares $25 par preferred now held) 40K 50 Sears Roebuck & Company 143/4 60 Inland Steel Company (40 shares now h e l d ) . . . 99 40 Ingersoll-Rand Company 126

K. E. WILLIAMSON,

CHESTER R. D A V I S F R A N K H . MCKELVEY

Chairman

O n m o t i o n of M r . W i l l i a m s o n , t h e s e i n v e s t m e n t s w e r e a u t h o r i z e d .