Minutes of the Meeting of the Executive Committee of the Board
of Trustees of the University of Kentucky, January 19, 1951.


     The Executive Committee of the University of Kentucky met in
the President's Office at 10:30 a.m., Friday, January 19, 1951.
The following members were present: Guy A. Huguelet, Chairman;
J. C. Everett, Harper Gatton, R. P. Hobson, and H. D. Palmore.    Ab-
sent:  None.   President H. L. Donovan and Secretary Frank D. Peter-
son met with the Committee.



     A. Minutes Approved.

     Upon motion duly made, seconded and carried, the minutes of the
Executive Committee of November 17, 1950, were approved as published.


     B. Comptroller's Report.

     The University Comptroller made the usual financial report,
which consisted of balance sheet of the University funds as of De-
cember 31, 1950, together with operating statements of fund and budget
operations for the semi-annual period ended on that date.    He read
a letter summarizing the report, and after members of the Executive
Committee had examined the financial report, upon motion duly made,
seconded and carried, same was authorized received and filed.


     C. Comptroller to Endorse Kentucky library Staff Bonds.

     Mr. Peterson explained to the Executive Committee that the staff
members of the University of Kentucky Library, in 1943 and 1944, per-
sonally donated funds sufficient to buy Series F bond: YC730132F, for
$75.00, which at maturity would be worth $100.00; and Series F bond:
#Q651184F, for $17.50, which at maturity would be worth $25.00.
Since these bonds were purchased in the name of Kentucky Library
Staff, they can not be cashed in without an authorized signature from
the University. The present staff has voted to cash these bonds and
to use the money to make a partial payment on an item which it wishes
to contribute to the Tibrary.   The Comptroller stated that he had
investigated sufficiently to be convinced that these bonds belong to
the employees of the Library, and recommended that the request be
granted.

     Upon motion duly made, seconded and carried, the recommendation
was concurred in, and the Comptroller was authorized to endorse the
bonds as suggested by the Federal Reserve Bank of Cincinnati.