Repository: UIHistories Project: Board of Trustees Minutes - 1958 [PAGE 1248]

EXTRACTED TEXT FROM PAGE:

1958]

UNIVERSITY OF ILLINOIS

1245

Be It Further Resolved that the Comptroller and Secretary of this public corporation, the Board of Trustees of the University of Illinois, be, and they are hereby authorized and directed to sign, execute, acknowledge, and deliver upon behalf of this public corporation a quit claim deed conveying the east half of said hereinabove described land from this public corporation to the County Board of School Trustees of Randolph County, Illinois, and to their successors in office, for the use of the Sparta Township High School District No. i n , Randolph County, Illinois. O n m o t i o n of M r . H e r r i c k , t h e f o r e g o i n g r e s o l u t i o n w a s a d o p t e d b y the f o l l o w i n g v o t e : A y e , M r . Bissell, M r . H e r r i c k , M r s . H o l t , M r . Hughes, M r . Johnston, M r . Livingston, M r . Nickell, M r . Swain, M r s . Watkins, M r . Williamson; no, none; absent, M r . Stratton. PURCHASE OF HOLLANDER LIBRARY IN ECONOMICS (21) The Director of the Library, the Dean of the Graduate College, and the Vice-President and Provost recommend the purchase of the Hollander Library in Economics, consisting of 4,470 items, mostly books and some papers and a number of other items including portraits and personalia, at a price of $44,000. Funds for the purchase are available in an assignment of $18,000 made by the University Research Board, $12,000 in funds appropriated to the University Library for acquisitions, and a grant of $14,000 from the University of Illinois Foundation. The purchase would be through Mr. William Gannon, New York City, New York, and Mr. Robert Barry, New Haven, Connecticut, dealers. This collection was the private library of Jacob Hollander (1871-1040), a distinguished scholar, public servant, and Professor of Political Economy at Johns Hopkins University, 1900-35. In the course of his lifetime he assembled a famous collection of books and manuscripts on economics which ranks among the first four or five private collections of books and materials in the field of economics to be found in the world. .. Acquisition of this collection will make the University economics research library one of the best. The Hollander Library will be an extremely valuable asset to future and present scholars. In support of this recommendation, I submit a memorandum from Professor J. F. Bell, Chairman of the Department of Economics, which gives further details about the Hollander collection. A copy of this memorandum is being filed with the Secretary of the Board for record. I concur.

On motion of Mr. Swain, this purchase was authorized.

ESTATES OF GRETCHEN JOHANNA SCHILLING AND PAUL CHARLES SCHILLING (22) By the wills of the late Gretchen Johanna Schilling and her late brother, Paul Charles Schilling, the University has received the residual assets of their estates, the funds to be used to assist worthy and needy students provided no more than $500 is given to a student in any one year. The Continental Illinois National Bank and Trust Company of Chicago, as Trustee for the two estates, has given the University the option of receiving farm property in Richland County, consisting of 306 acres, and stocks and bonds of the Gretchen Johanna Schilling estate either in cash or in kind. Certain of the stocks and all of the bonds of her estate would be valuable additions to the University's investment portfolio. Three stock issues are small in amount, not complementing present holdings, and should not be retained. Upon recommendations of the Vice-President and Comptroller and the First National Bank of Chicago, the Finance Committee of the Board has instructed the Trustee to deliver the University's distributive share of the following stocks and bonds in kind: ?io,ooo General Motors Acceptance Corporation 3J4 per cent debentures due March 15, 1972 $10,000 Phillips Petroleum \ZA per cent convertible debentures due February 15, t, I 9 8 ? •pio.ooo Union Electric Company of Missouri 3^3 per cent first collateral bonds due May i, 1971