Repository: UIHistories Project: Board of Trustees Minutes - 1978 [PAGE 437]

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426

BOARD O F T R U S T E E S

[ S e p t e m b e r 21

Date 8/16 8/16 8/16 8/17 8/17 8/17 8/17 8/17 8/18 8/23 8/23 8/24 8/26 8/29 8/29 8/30 8/31 8/31 8/31 8/31

Face Value Cost or or Number Yield of Shares Description (Percent) Amount $1 700 000 U.S. Treasury 6)4 percent notes due 7/31/79 6 . 6 7 % SI 686 718 75 35 000 U.S. Treasury 6 percent notes due 3/31/79 6.43 34 718 75 100 000 U.S. Treasury 6'/4 percent notes due 8/15/79 6.57 99 406 25 15 000 U.S. Treasury bills due 9/22/77 5.28 14 9 2 1 2 5 25 000 U.S. Treasury bills due 2/2/78 6.05 24 309 92 60 000 U.S. Treasury 6% percent notes due 8/15/79 6.63 60 2 8 1 2 5 75 000 U.S. Treasury 6*/$ percent notes due 2/15/80 6.72 74 625 00 147 000 U.S. Treasury 6% percent notes due 5/15/80 6.83 147 183 75 215 000 U.S. Treasury bills due 7/25/78 6.35 202 8 0 1 1 9 504 534 First National Bank of Chicago 5 percent open time deposit 5.00 504 533 81 10 000 U.S. Treasury 6>/i percent notes due 2/15/80 6.60 9 977 50 45 000 U.S. Treasury bills due 7/25/78 6.29 42 512 62 250 000 Continental Bank 6'A percent time deposit due 7/20/78 6.25 250 000 00 1 000 000 Continental Bank 5.85 percent time deposit due 9/30/77 5.85 1 000 000 00 2 000 000 First National Bank of Chicago 5 percent open time deposit 5.00 2 000 000 00 2 000 000 First National Bank of Chicago 5 percent open time deposit 5.00 2 000 000 00 2 000 000 Continental Bank 5.85 percent time deposit due 10/14/77 5.85 2 000 000 00 2 027 500 Harris Trust & Savings Bank 5.80 percent certificate of deposit due 1 0 / 7 / 7 7 . . 5.80 2 027 500 00 1 001 325 First National Bank of Chicago 5 percent open time deposit 5.00 1 001 325 00 40 000 U.S. Treasury bills due 9/22/77 4.81 39 882 67

On motion of Mr. Livingston, this report was approved as presented. Report of the Finance Committee Concerning University Policy with Regard to investments in Corporations Doing Business in South Africa

(47) For some months the committee has considered the merits of a specific shareholder proposal related to the General Electric Corporation concerning that company's activities in South Africa, as well as the larger implications of University policy with regard to investments in corporations doing business in South Africa. The committee has received testimony, written and oral, from a number of individuals; it has received reports of actions from the Chicago Circle and UrbanaChampaign campuses; it has had the opportunity to review transcripts of U.S. Senate hearings on this subject, statements from the Union of South Africa and from the General Electric Corporation, statements in support of the specific shareholder proposal, and other relevant expressions of opinion; and it has received analyses of the issues from the Investor Responsibility Research Center. T h e com-