Repository: UIHistories Project: Book - History of Illinois Land Grant Endowment [PAGE 21]

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Illinois, would report that he visited the city of Springfield and that John V\\ Bunn, the Treasurer of this Board, handed him kinds of various counties and school districts, amounting to the sum of three hundred and eighteen thousand four hundred dollars ($318,-100.00), the tame being payable to the t Hi versify of Illinois, and representing endowment funds of said University, ALEXAKHKK MI I.KAN, President (June 11, 1889; XV, 72) On motion, it was ordered the IVesid int and the finance Committee examine the securities held by the Treasurer, belonging to the endowment fund of the University and report with regard to them at the next meeting of the Hoard. (Mar. 10, 1891; XVI, 51) Resolved, That the Treasurer be and is hereby instructed not to loan any of the endowment fund of this University except strictly in conformity with all acts of Congress and of the legislature of this State in respect thereto. And, if at any time he is unable to make investments and reinvestments of the funds at the full rate of five per cent, interest per annum, it shall be his duty at once to notify the President of the Hoard so that the Trustees shall be called together to take action in respect thereto. (June 10, 1891; XVI, 108) The Treasurer stated that he had received from payment of bonds held as a part of the endowment fund, $14,700.00; and that he had bought bonds for this fund to the amount of $36,150.00, at a premium of $1,999.00 for which he asked an appropriation. On motion of Mr. Cobb, the report of the endowment fund was received, and the amount of $1,199.00 was appropriated from current funds to pay the premium. (Sept. 8, 1891; XVI, 143) I have received $11,000.00 for Sangamon County 8 per cent, bonds due Sept. 15, 1891, and have bought $9,000 Pike County 7 per cent, bonds on a 5 per cent, basis, due July 1, 1895. JOHN W. BUNN, Treasurer.

GENTLEMEN:

The report was approved. An appropriation was made from current funds of $630 to pay the premium on the bonds purchased, and of $41.30 in payment of taxes on Nebraska lands. (Dec. 9, 1891; XVI, 174) Your committee on Minnesota lands begs leave to report what it has done since your last meeting. The Committee has taken from Mr. F. Topka an assignment of his contract for N. W, Vi, 6, 116, 32, and has had this assigned contract recorded in Renville county. At the same time Mr. Topka furnished an abstract of title to the land, which showed that he had not in any way conveyed or encumbered the land. When this had been done a contract was given him, bearing date January 2, 1892, for the N. W. tf, 6, 116, 34, Renville, 169.13 acres at $10. per acre. On this purchase a credit of the amount paid on his first contract, $387.57, was allowed him, and in addition, he paid $35.25 on account of the excess in acreage in the tract conveyed by the second contract. (Mar. 8, 1892; XVI, 214)

GENTLEMEN:

. . . . inasmuch as several conveyances of the S. E. K, 24, 124, 36 rope county, Minnesota had been made in good faith under the Massachusetts patent and «S the holder under that patent was in possession of the land and had made considerable improvements, the University he allow I to surrender its patent to the S I I and to re locate its scrip upon the S W. V4- and uv«iv< patent Iherefm Mar. 8 1802; XVI, 215)