Repository: UIHistories Project: Board of Trustees Minutes - 1950 [PAGE 1088]

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195°]

UNIVERSITY OF ILLINOIS

IO79

Holt, Mr. Livingston, Mr. McLaughlin, Dr. Meyer, Mr. Nickell, Mrs. Watkins, Mr. Williamson; no, none; not voting, Governor Stevenson.

INVESTMENTS (22) The Finance Committee reports the following transactions involving securities: Purchases: Endowment Funds U.S.A. Series G 2 ^ % Savings Bonds due 1961 $ 8 000 00 J U.S.A. Series G 2 /2% Savings Bonds due 1962 24 000 00 200 shares Deere and Company common stock 8 886 17 Sales: Two shares Standard Oil of New Jersey capital stock 128 43 200 shares Crane Company common stock 5 789 27 Exchange: $4,000 U.S.A. Series A I j 4 % Savings Bonds due January 1, 1950, for $4,000 U.S.A. iJ/i% Series A due January 1, 1951. Exchange: Student Loan Funds $10,000 U.S.A. 1%% Certificates of Indebtedness Series C due March I, 1950, for $10,000 U.S.A. IZ/A% Treasury Notes due July I, 1951.

This report was received for record.

TRANSFER OF LAND TO MEDICAL CENTER STEAM COMPANY (23) On July 28, 1049 (Minutes, page 493), the Board of Trustees authorized the transfer of certain properties to the Medical Center Steam Company, including some parcels of property acquired from the Medical Center Commission for $1,000 (Minutes, November 29, 1949, page 948). Four additional lots owned by the Medical Center Commission are required by the Medical Center Steam Company. The Medical Center Commission proposes to transfer the additional lots to the University as a part of the $1,000 purchase, and authority is required for transfer of the lots from the University to the Medical Center Steam Company. I recommend the adoption of the following resolution: RESOLVED: That when the Board of Trustees of the University of Illinois shall acquire the following described real estate, or any parcels thereof, this Board does hereby authorize, empower, and direct the Comptroller and the Secretary of this Board, in the name and on behalf of this Board, to execute and deliver to Medical Center Steam Company, an Illinois corporation, a warranty deed or deeds conveying such real estate, either in whole in a single deed or in parcels from time to time, to such Steam Company, to wit: Lots 29 and 30 in Block 20 of S. H . Sweet's Re-subdivision of Blocks 18, 19, and 20 of Assessor's Division of the East ]/z of the Southeast Vi of Section 1839N-14, and Lots 2 and 3 except West 27 feet thereof owned by Metropolitan Elevated Railway Company in Block 20 of S. H. Sweet's Re-subdivision of Blocks 18, 19, and 20 of Assessor's Division of the East Ki of the Southeast V\ of Section 18-39N-14. O n m o t i o n of M r s . H o l t , t h i s r e s o l u t i o n w a s a d o p t e d , b y t h e following vote: Aye, M r . Fornof, M r . Herrick, M r . Hickman, M r s . Holt, M r . Livingston, M r . M c L a u g h l i n , Dr. Meyer, M r . Nickell, M r s . W a t k i n s , M r . W i l l i a m s o n ; no, n o n e ; not voting, Governor Stevenson. PURCHASES (24) A report of ( A ) emergency purchases authorized and ( B ) purchases recommended (see Appendix, page 1115).

On motion of Mr. Fornof, the action of the President of the University in authorizing emergency purchases was approved and confirmed, and the purchases recommended were authorized.