Repository: UIHistories Project: Board of Trustees Minutes - 1950 [PAGE 501]

EXTRACTED TEXT FROM PAGE:

492

BOARD OF TRUSTEES

[July 28

DIRECTORSHIP OF THE INSTITUTE OF LABOR A N D INDUSTRIAL RELATIONS (3) Dr. Phillips Bradley, who has been serving as Director of the Institute of Labor and Industrial Relations since August 1, 1946, and who is also Professor of Political Science, has asked to be relieved as Director of the Institute upon the expiration of his present term of appointment in that position on August 31, 1949, and to be assigned to full-time service as Professor of Political Science. I recommend approval and request that I be authorized to conclude the change in Professor Bradley's status by an appropriate assignment of duties and adjustment of his appointment from a twelve months' to an academic year basis. 1 I further recommend the appointment of Dr. William Ellison Chalmers, now Associate Professor of Economics (one-half time in the Institute and onehalf time in the College of Commerce and Business Administration), as Acting Director of the Institute of Labor and Industrial Relations for one year from September 1, 1949, and as Professor of Economics on indefinite tenure.

On motion of Mr. Hickman, Director Bradley's resignation was accepted and he was assigned to the Department of Political Science, and Professor Chalmers was appointed Acting Director of the Institute of Labor and Industrial Relations and Professor of Economics as recommended.

STEAM HEATING PLANT FOR CHICAGO PROFESSIONAL COLLEGES (4) On May 21, 1949 (Minutes, page 358), the Board of Trustees authorized a contract with the Medical Center Steam Company, a corporation to be organized under the laws of Illinois, for the construction of a central steam plant and distribution system for University buildings as well as those of other institutions in the Medical Center District. It authorized the officers of the Board to make "changes in form but not of substance" of the contract as submitted on May 18. Subsequent discussion has made it necessary to work out various other changes, some of them minor in character but others of a major character. For that reason a revised draft of the contract is resubmitted to the Board for approval (see Appendix, page 516). T h e principal changes which result from discussions with the insurance company making the loan for construction and with income tax officials by Commonwealth Edison Company are as follows: 1. Elimination of the word "depreciation" and the substitution of "amortization" (Articles IV and V, Sections 5.01 and 5.02). 2. Change in the term of the agreement from an indefinite period (until all investment has been amortized) to a definite period of thirty years, during which all the plant is to be amortized (Section 9.01). This results in a change in the rate of amortization (depreciation) charge from 3 per cent as formerly proposed, to an adjustable sum which at all times will result in complete amortization within the period of the contract (Section 5.02). T h e Director of the Physical Plant Department and the Comptroller recommend the approval of the revised draft of contract by the Board. Additional actions are requested of the Board of Trustees by officers of Commonwealth Edison Company in charge of the development of the Medical Center Steam Company as follows: 1. Resolution accepting an ordinance passed June 22, 1949, by the City Council of the City of Chicago, granting the University authority to make the installations necessary for the heating plant. 2. Resolution authorizing assignment of the above mentioned ordinance to the Medical Center Steam Company. 3. Resolution approving execution of revised contract with the Medical Center Steam Company herein reported. 4. Resolution authorizing the conveyance of land now owned by the Board

3 President Stoddard notified the Secretary on August 3, 1949, that Professor Bradley's salary was to be $9,000 a year, on A basis.