Repository: UIHistories Project: Board of Trustees Minutes - 1948 [PAGE 892]

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1947]

UNIVERSITY OF ILLINOIS

89I

UNIVERSITY OF ILLINOIS HOSPITALS (19) The Vice-President in charge of the Chicago Professional Colleges recommends that the Research and Educational Hospitals be hereafter known as the "University of Illinois Hospitals." These hospitals were established under an agreement between the Board of Trustees of the University and the State Department of Public Welfare dated July 5, 1910, at which time the title "University Clinical Institute" was used. The buildings were constructed by the State of Illinois for the Department of Public Welfare. Subsequently the name was changed to the "Research and Educational Hospitals." In 1931 the agreement with the Department of Public Welfare was incorporated into law by an Act of the General Assembly entitled "An Act in relation to the founding and operation of Research and Educational Hospitals of the State of Illinois." In subsequent legislation the term "Research and Educational Hospitals" was continued in use. Previous to 1941 the hospitals were operated jointly by the University and the Department of Public Welfare, the University providing the professional staff and the Department providing all other operating personnel. The funds for the operation of the hospitals were appropriated to the Department. In IQ41 it was agreed between the Department and the University, the General Assembly concurring, that the operation of the hospitals should be transferred fully to the University and since then the appropriations have been made to the University. The Illinois Neuropsychiatric Institute, the Illinois Eye and Ear Infirmary, and the Institute for Juvenile Research are still operated jointly under the revised agreement. It would appear, therefore, that the name "Research and Educational Hospitals" is fixed by law and by the agreement between the Department of Public Welfare and the University, so that the change in name may involve legal and contractual considerations. I recommend that the Board of Trustees authorize the change in name to "University of Illinois Hospitals" to take effect after clearance of any legal and contractual questions that may be involved. This may require a revision of the agreement between the Department of Public Welfare and the University and the amendment of the law authorizing the agreement.

On motion of Dr. Meyer, this change was authorized under the conditions recommended.

CENTRAL FOUNDRY COMPANY STOCK (20) The Finance Committee of the Board recommends that one share of Preferred stock and one share of Common stock of the Central Foundry Company, New York, be sold. This stock was received by the University in October, 1936, in settlement of an account receivable for services rendered by the Theoretical and Applied Mechanics Department. During recent years industrial activity has enabled the company to operate profitably and at the present time the Preferred stock has a value of approximately 85 and the Common 854. Authorization for this sale and approval of the following resolution is requested :

RESOLUTION REGARDING SALE OF STOCK

Whereas, the Board of Trustees of the University of Illinois is the owner of one share of Preferred stock and one share of Common stock of the Central Foundry Company, New York, and Whereas, the Board of Trustees has approved the sale of such stock in its meeting of October 30, 1947, Now, therefore, be it resolved by the Board of Trustees of the University of Illinois that Lloyd Morey, Comptroller, and H. E. Cunningham, Secretary, be authorized to execute any and all documents necessary to complete such sale.

On motion of Mr. Davis, this sale was authorized and the resolution was adopted, by the following vote: Aye, Mr. Davis, Mr. Fornof, Mrs. Holt, Mr. Livingston, Mr. McKelvey, Mr. McLaughlin. Dr. Meyer; no, none; absent, Mr. Green, Dr. Luken, Mr. Nickell, Mr. Williamson.