Caption: Board of Trustees Minutes - 1948
This is a reduced-resolution page image for fast online browsing.
EXTRACTED TEXT FROM PAGE:
892 BOARD OF TRUSTEES [October 30 INVESTMENTS (21) The Finance Committee reports the following transactions involving securities: PURCHASES FROM ENDOWMENT F U N D S U. S. Series G 2^4% Bonds ($3S,ooo par) $35 E. I. duPont deNemours & Co. Common Stock, 25 shares.. 4 Eastman Kodak Co. Common Stock, 150 shares 6 Heyden Chemical Co. y/2% Preferred Stock, 150 shares.. 14 Jewel Tea Co. 3%'% Preferred Stock, 200 shares 20 PURCHASES FROM STUDENT LOAN F U N D S 000 425 887 550 800 U. S. Treasury Note \y2% 12/15/1950 ($25,000 par) $25 297 Chairman KENNEY E. WILLIAMSON, CHESTER R. DAVIS F R A N K H . MCKELVEY This report was received for record. PURCHASES (22) There are submitted herewith (Appendix, page 920): A. Recommendations for purchases for approval by the Board, and B. Report of purchases authorized by the President of the University. On motion of Dr. Meyer, the purchases recommended were authorized, and the action of the President of the University in authorizing emergency purchases was approved and confirmed. COMPTROLLER'S REPORT OF CONTRACTS ( 2 3) The Comptroller's report of contracts executed, June II to July 10, and September II to October 10, 1947 (see Appendix, page 922). This report was received for record. VALUATION OF THE ALLERTON GIFT (24) A study has been made of the valuation of property received through the gift of Mr. Robert Allerton to determine the approximate value of the gift at the date it was received by the University, September, 1046. LAND The number of acres totals 5,517.66 as compared with 6,185 originally mentioned. The total is arrived at in accordance with the general policy of the University in estimating acreage on farm lands, excluding private roads. The valuation of land is based on appraisals made by members of the staff of the College of Agriculture. It represents an average of approximately $121 an acre and a total valuation of $ BUILDINGS 669 088 76 A detailed inspection of all buildings was made by representatives of the College of Agriculture and the Physical Plant Department to determine the long-time value and to estimate the remaining periods of usefulness. There is a total of 78 useful buildings on the 8 farms. The total value of all buildings, including those in the woodland area, has been estimated at IMPROVEMENTS OTHER THAN BUILDINGS 343 071 70 These items consist of walls, steps, lake, statues and ornaments, walks, pavements, bridges, and all other items not included as a part of the valuation of buildings. The valuation was estimated by the Physical Plant Department at depreciated replacement cost of EQUIPMENT 216 891 50 Machinery and tool equipment was estimated by the Physical Plant Department, also certain house furnishings not removed by Mr. Allerton. The total valuation is 5 680 00
| 
