Repository: UIHistories Project: Board of Trustees Minutes - 1956 [PAGE 1103]

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IIOO

BOARD OF TRUSTEES REPORT OF FINANCE COMMITTEE

[ J u n e 2?

Mr. Livingston, for the Finance Committee, reported the following changes in investments of trust funds:

Current Funds Exchange $2,000,000 U. S. Series A 15^ per cent Treasury Notes due March 15, 1956, for $2,000,000 U. S. Series A 25^ per cent Certificates of Indebtedness due February 15, 1957 Transferred from Endowment Funds $3,000 U. S. Treasury 2^4 per cent Bonds due 1963 $2 994 38

Purchase

Endowment

Funds — General $ 51 53 4 781 25

Six-tenths share Insurance Co. of N o r t h America Common Stock $5,000 U. S. Treasury 2^2 per cent Bonds due August 15, 1963 Report of Comptroller

Dentistry-Medicine-Pharmacy Building Revenue Bond Fund — Construction Purchase $40,000 U. S. Treasury Bills due May 17, 1956 $39 813 49 25,000 U. S. Treasury Bills due May 31, 1956 24 879 67 75,000 U. S. Treasury Bills due June 14, 1956 74 651 67 15,000 U. S. Treasury Bills due June 28, 1956 14 922 19 15,000 U. S. Treasury Bills due July 12, 1956 14 915 50 20,000 U. S. Treasury Bills due July 26, 1956 19 891 11 40,000 U. S. Treasury Bills due August 9, 1956 39 768 89 Dentistry-Medicine-Pharmacy Building Revenue Bond Funds 1951 — Auxiliary Purchase $100,000 U. S. Treasury Bills due June 28, 1956 $99 482 92

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,

Dormitory

Revenue Bond Fund of 1956 —

Construction $986 213 81 62 743 94 66 871 92

$093,000 U. S. Treasury Bills due August 16, 1956 63,000 U. S. Treasury Bills due July 12, 1956 67,000 U. S. Treasury Bills due June 14, 1956

This report was received for record.

JULY A N D SEPTEMBER MEETINGS

President Megran reminded the Board that it had previously voted to hold its July meeting on Wednesday, July 25, 1956, in Harvard, Illinois. This meeting will be held in the residence of Mr. and Mrs. Megran, 301 Church Street, Harvard, Illinois. The Secretary will send members of the Board information concerning the plans for the day along with the official notice of the meeting. It was the consensus of the Board that no regular meeting be held in August. By unanimous consent the September meeting was scheduled for Tuesday, September 18, 1956, to be held in Chicago, beginning at 2:00 p.m., at a place to be selected by the President and the Secretary of the Board. EXECUTIVE SESSION At this point, an executive session was requested and ordered for consideration of the following items of business.