Repository: UIHistories Project: Board of Trustees Minutes - 1952 [PAGE 738]

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UNIVERSITY OF ILLINOIS

835

264 shares Abbott Laboratories 45 shares American Tobacco 200 shares General Foods 150 shares J. C. Penney 200 shares F . W . Woolworth Company 425 shares Commonwealth Edison 220 shares Pacific Gas and Electric 120 shares Illinois Power Company Bonds: $2,000 U. S. T r e a s u r y 2 % , 9/15/53-5* 100 U. S. Treasury 2 ^ % , 3/15/54-52 1,000 U. S. Treasury 2x/z%, 3/15/71-66 32,000 U. S. Savings Series G, 2^2% $22,000 due 1/1/62 2,000 due 3/1/62 8,000 due 6/1/62 2,000 U. S. Treasury, various issues (if necessary to complete p r o g r a m ) Buy Preferred Stocks: 150 shares International Nickel 7%, at approximately 132 600 shares Du P o n t Laboratories 5%, at approximately 23 Common Stocks: 135 shares Industrial Rayon, approximately 6154 200 shares Weyerhaeuser Timber, approximately 57J4 300 shares Federated Department Stores, approximately 4124 250 shares Minneapolis-Honeywell Reg., approximately 53 200 shares B. F . Goodrich, approximately 5354 300 shares Southern Natural Gas, approximately 4254 500 shares Middle South Utilities, approximately 1 9 ^ 500 shares Gulf State Utilities, approximately 21

On motion of Mrs. Watkins, these recommendations were approved, and the following resolution was adopted:

Resolution of Executive Committee Pertaining to Sales of Securities WHEREAS, the Board of Trustees of the University of Illinois, a public corporation, incorporated under the laws of the state of Illinois, owns the following securities, which are investments of permanent endowment funds: Preferred Stocks: 150 shares Heyden Chemical Corporation 3 j 4 % ; 200 shares Jewel Tea 3 % % ; 45 shares Southern California Edison 4.48%. Common Stocks: 170 shares General Electric; 200 shares Underwood Corporation; 264 shares Abbott Laboratories; 45 shares American T o b a c c o ; 200 shares General F o o d s ; 150 shares J. C. Penney; 200 shares F . W . W o o l worth Company; 425 shares Commonwealth Edison; 220 shares Pacific Gas and Electric; 120 shares Illinois Power Company. Bonds: $2,000 U. S. Treasury 2 % , 9/15/53-51; $100 U. S. Treasury 2$4%, 3/15/54-52; $1,000 U. S. Treasury 2^4%, 3/15/71-66; $32,000 U. S. Savings Series G, 2 ^ % ($22,000 due 1/1/62, $2,000 due 3/1/62, $8,000 due 6/1/62) ; $2,000 U. S. Treasury, various issues. A N D WHEREAS Article I V (Committees of the Board) of the By-Laws of the Board of Trustees of the University of Illinois (1941) reads as follows: "At the annual meeting in March of each year, the Board shall elect two members of an 'Executive Committee,' consisting of three members, the President of the Board to be Chairman ex-officio, which members shall hold office for one year, or until their successors have been elected. "Said Committee shall possess all the powers of the Board when in session, provided that it shall not overrule, revise, or change the previous acts of the Board, or take from regular or special committees any business referred to them by the Board.