Repository: UIHistories Project: Board of Trustees Minutes - 1948 [PAGE 1162]

EXTRACTED TEXT FROM PAGE:

1948]

UNIVERSITY OF ILLINOIS

Il6l

INVESTMENTS (20) The Finance Committee reports the following transactions involving securities:

, D itifCfldS£S ENDOWMENT ' FUNDS

U. S. Series G 2 ^ % Bonds $15 000 00 Elgin, Joliet & Eastern 3/4% First Mortgage Bonds at 105 ($20,000 par) 21 000 00 Pacific Gas & Electric Rights, 20 shares Common Stock at $ 2 5 . . . . 500 00 Sales: U. S. Treasury 2 ^ % Bonds 1969-1964 15 000 00 Phillips Petroleum Co., 200 rights 210 61

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STUDENT LOAN

FUNDS

hxchanges: $30,000 U. S. of A. Cert, of Indebt. %% Series D, due April 1, 1948, for $30,000 U. S. of A. Cert, of Indebt. iTA% Series D, due April 1, 1949. $25,000 U. S. of A. Cert, of Indebt. Y%% Series H, due September I, 1947, for $25,000 U. S. of A. Cert, of Indebt. % % Series H, due July I, 1948. $25,000 U. S. of A. Cert, of Indebt. % % Series C, due March 1, 1948, for $25,000 U. S. of A. Cert, of Indebt. V/%% Series C, due March I, 1949. $25,000 U. S. of A. Cert, of Indebt. % % Series F, due July 1, 1947, for $25,000 U. S. of A. Cert, of Indebt. 7/%% Series F, due July 1, 1948. $15,000 U. S. Treasury \%% Bonds due June 15, 1948, for $15,000 U. S. Treasury \Y%% Bonds due June I, 1949.

This report was received for record.

APPRECIATION OF PARK LIVINGSTON M r s . H o l t presented the following: The Board of Trustees and the Executive Staff of the University of Illinois hereby record their appreciation of the fairness with which Mr. P a r k Livingston has conducted the affairs of the office of President of the Board during the past five years, and of the enthusiasm and whole-hearted effort of his work, and the personality that has won for him the respect and friendship of his colleagues. We feel fortunate in having his effective leadership over the years, and extend our hearty wishes that he may continue to enjoy the well-earned fruits of his successful career.

On motion of Mrs. Holt, this expression of appreciation was adopted, and the Secretary was instructed to send a certified copy to Mr. Livingston.

ATTORNEY FOR UNIVERSITY IN REGISTRY AND TRANSFER OF JERSEY CATTLE

The Secretary presented a request from the Department of Dairy Production that Assistant Professor E. E. Ormiston of the Department of Dairy Production be designated "attorney in fact" for the purpose (and this purpose only) of signing certain papers to be filed with the American Jersey Cattle Club in connection with the registry and transfer of purebred Jersey cattle owned by the University. The Board designated Professor W. W. Yapp to sign such papers in 1945 (Minutes, August 29, 1945, page 638). Professor Yapp will be on sabbatical leave of absence for six months beginning August 1, 1948. His power of attorney is to lapse when Professor Ormiston qualifies. On motion of Mr. McLaughlin, the Secretary was authorized to execute for the Board a limited power of attorney to E. E. Ormiston in the form required.