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Caption: Book - History of Illinois Land Grant Endowment
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# Land Grant lindoivmenl Ihtnd 23 The secretary stated that he had procured a book for the endowment fund register, as directed by the trustees at their meeting of March 28th. On motion of Mr. Milliard, it was voted that the register be submitted to the finance committee. (June 7, 1893; XVII, 120) The Committee further reported that upon its request to the Governor, he had sent a message to the General Assembly recommending that the University be empowered by law to loan its endowment fund upon real estate security. On motion of Mr. Raymond, the action of the Committee was approved. (June 7, 1893; XVII, 122) We further recommend that hereafter when bonds are redeemed or moneys received on land contracts the treasurer immediately notify the chairman of the finance committee, and that they, together with the finance committee, invest such funds in bonds. The report of the Committee was adopted on motion of Mr. Rabb. (Dec. 13, 1893; XVII, 207) Your Committee on finance recommends that the treasurer be instructed to effect a transfer between the endowment fund and the general fund as follows: Of the Kankakee county bonds, held as part of the general fund, $5,000 shall be transferred to the endowment fund, and $5,000 of cash, held as oart of endowment (Mar. 14, 1894; XVII, 235) GENTLEMEN: Resolved, That the Governor, President Draper, and the Chairman of the Finance Committee constitute a committee to prepare and present to the Legislature at its next session a bill providing for a change in the law of the State regarding the investment of endowment funds held by the University and especially as to the kind of securities which may be handled. (Dec. 5, 1894; XVIII, 45) T R A N S F E R O F T H E E N D O W M E N T F U N D TO T H E STATE The Committee appointed at the last meeting of the Board to visit banks and ascertain what bonds belong to the endowment fund of the University of Illinois had been hypothecated by Charles W. Spalding, Treasurer, made the following report: Bank Metropolitan Northwestern National Illinois Trust & Savings First National Bonds Deposited $ 7500 70 000 25 000 * « WO *287 500 To Secnr* $ 7 65 21 250 *75 000 *266 250 There have been found bonds in the Globe Safety Deposit vaults belonging to the University amounting to $124,810. These, with those enumerated above, leave $5,000 of the University bonds still unaccounted for. These are Macoupin County bonds, Nos. 588 to 591, inclusive, 173, 236, 279 and 514 for $500 each and No. 369 for $1,000. (Apr. 22, 1897; XIX, 97, 99) Mr. McLean offered the following resolution, which was adopted: Whereas, DuriiiR the re< < nt financial troubles of the University, the frieu of this institution hav< rendered it valuable assistance for which we are ver grateful, t h e n fore be it
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