Repository: UIHistories Project: Board of Trustees Minutes - 1954 [PAGE 601]

EXTRACTED TEXT FROM PAGE:

598

BOARD OF TRUSTEES

[March 25

Award No. 4. For the best interpretation of the foreign scene or of our foreign relations — to the writer a scroll and the sum of $500. Award No. 5. For the article best depicting a person, living or dead — to the writer a scroll and the sum of $500. Award No. 6. For the best piece of magazine humor — to the writer a scroll and the sum of $500. Award No. 7. For the best short story — to the writer a scroll and the sum of $500. Award No. 8. For an outstanding meritorious presentation in any category not specifically covered by the other awards — to the writer a scroll and the sum of $500. I have accepted this gift on behalf of the Board of Trustees and the instrument of acceptance has been executed by the Comptroller and the Secretary of the Board. Confirmation of these official actions is requested. The executed deed of gift, copies of which were distributed to the members of the Board of Trustees for examination at this meeting, is filed with the Secretary of the Board.

On motion of Mrs. Holt, this fund was accepted in accordance with the terms of the deed of the gift and the plan of awards as recommended was approved. On motion of Mrs. Watkins, the Secretary of the Board was instructed to express to Mr. J. F. Wright, Director of Public Relations, the appreciation of the Board of his work on this project.

REPORT OF FINANCE COMMITTEE ON INVESTMENTS

The Finance Committee reported the following transactions involving securities:

Endowment Funds Purchases: 6 shares Minnesota Mining and Manufacturing Company common no par stock $ 285 00 15 shares Merck and Company, Inc. common 16% par stock 487 50 8 shares Standard Oil Company of California capital no par stock.. 394 00 $3,000 Firestone Tire and Rubber Company twenty-year 3 % debentures due May I, 1961 3 052 50 Student Loan Funds Exchange: $20,000 United States of America 1%% certificates of indebtedness series C, due February 15, 1953, for $20,000 United States of America 2%% certificates of indebtedness series A, due February 15, 1954 Current Funds Exchange: $20,000 United States of America lY%% certificates of indebtedness series C, due February 15, 1953, for $20,000 United States of America 2%% certificates of indebtedness series A, due February 15, 1954 $1,000,000 United States of America 1%% certificates of indebtedness series C, due February 15, 1953, for $1,000,000 United States of America 2^4% certificates of indebtedness series A, due February 15, 1954

This report was received for record.

RESOLUTION OF APPRECIATION OF SERVICES OF MR. JOHN R. FORNOF

Mr. Johnston offered the following resolution which was adopted.

To The Board of Trustees of the appreciation of your distinguished duty, as a member of this Board President during 1948 to 1949. John R. Fornof University of Illinois hereby records its grateful and generous service, often beyond the call of for twelve years from 1941 to 1953, and as its