Repository: UIHistories Project: Book - History of Illinois Land Grant Endowment [PAGE 22]

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University of //linois

Decision of the General Land (Mice: Upon the surrender of the patent issued to said I invcrsity [Illinois, with a relinquishment endorsed thereon, together with a quit-claim deed from said University, recorded in the ollice from the record of deeds in the county where said land lies, with a certificate from the proper recording officer of said county, that the said University has not transferred or encumbered the title acquired by said patent, said location of college scrip (#1191) may l>c canceled, and said scrip may be located upon said S. VV. !4 and patent may issue immediately thereupon to said University. Your judgment is affirmed.

GEO. CHANDLER,

First Assistant Secretary. (Mar. 8, 1892; XVI, 215) [The report of the Minnesota Land Committee] was approved, and the President and Secretary were authorized to relinquish the patent and quit-claim to S. E. 1,4, 24, 124, 36 Pope county, Minn., to the United States, and the Committee was instructed to take measures to secure a patent for S. VV. *4 of said section 24. (Mar. 8, 1892; XVI, 216) Mr, Bunn reported the purchase for the endowment fund of $10,000 Douglas county six per cent, bonds, $5,000 due Nov. 10, 1894, and $5,000 due Nov. 10, 1895, for which he had paid par, $200 accrued interest, and $315 premium. He asked for an appropriation of $515 to meet interest and premium. . . . . an appropriation from current funds of $515 was made as requested. (June 7, 1892; XVI, 239) The business agent made the following report, in compliance with the request for information as to what the income would be for this year, ending Dec. 31, 1892, from the sales of Minnesota lands already made:

UNIVERSITY OF ILLINOIS,

June 24, 1892.

Report on income for the year ending January 1, 1893, from sales of Minnesota lands to date: Received from sales to January 1, 1892 $6 696 42 Received from sales since January 1, 1892 $\ 055 73 (June 27, 1892; XVI, 253) Resolved, That the Secretary of the Board is hereby directed to procure a 9 suitable, well bound book to be entitled "Endowment Fund Register/ and to keep therein a complete record of each bond belonging to the University of Illinois, showing by whom issued, date, amount, maturity, interest and when it is payable, of whom bought, and cost; also payment thereon, both of principal and interest. The Treasurer of this Board is also directed to report to the Secretary payments of interest and principal of the endowment fund and investments on account of same. (Mar. 28, 1893; XVII, 97) Your Finance Committee begs leave to report that it has examined all the bonds of the endowment fund of the University in the hands of the Treasurer John W. Bunn, and finds them to be as follows: [List of bonds given amounting to $393,250.] We also find that a large proportion of said bonds are liahl. under the terms of their issue, to be called in and paid at any time. We, therefore, recommend that the Treasurer at once notify the I mmitte< when such bonds are called in by the proper authorities, so that th< proceeds can be re-invested at the earliest practicable moment. (Ma. 29, 1893; \ \ II, 98)