Minutes of the Meeting of the Executive Committee of the Board of
Trustees of the University of Kentucky February 20, 1959.


         The Executive Committee of the Board of Trustees of the University
of Kentucky met in the President, s Office at 9:30 a. m. , CST, Friday, Febru-
ary 20, 1959, with the following members present: R. P. Hobson, Chair-
man; Dr. Ralph J. Angelucci, J. Stephen Watkins and Harper Gatton. Pres-
ident Frank G. Dickey and Secretary Frank D. Peterson met with the Com-
mittee.


        A. Vacancy on Executive Committee Filled.

        The Chairman, Mr. R. P. Hobson, opened the meeting by calling
attention to a vacancy on the Executive Committee caused by the expiration
of the termn of Louis Cox. He recalled that a quorum is sometimes difficult
to obtain and suggested that the Committee might want to fill the vacancy.
The Committee surveyed the membership of the Board and Mr. Watkins sug-
gested the names of Mr. Wood Hannah, Sr., and Mr. Floyd H. Wright. Both
men were discussed, and upon motion duly made, seconded and carried, Mr.
Wood Hannah, Sr., of Prospect, Ky., was elected to fill the vacancy on the
Executive Committee.


        B. Approval of Minutes.

        Upon motion duly made, seconded and carried, the minutes of the
Executive Committee of January 16, 1959, were approved as published.


        C. Financial Report.

        Mr. Peterson made financial report for the seven months period
ended January 31, 195&, The report contained a balance sheet and related
financial statements which presented a complete financial picture for the
period covered. The Current General budget operations for the period re-
vealed income realized for educational and general purposes in the amount
of $10,478,936. 84. The expenditures and encumbrances amounted to
$7, 352, 894. 73. The balance sheet was reviewed in detail for General Fund,
Loan Fund, Endowment Fund, Plant Funds and Agency Funds.

        Members of the Executive Committee being advised, upon motion
duly made, seconded and carried, the Treasurer' s report was received and
authorized filed.


        D. Fischer Packing Company Contract Approved.

        Mr. Peterson submitted Agreement with the Fischer Packing Com-
pany whereby the Company will make available 208 yearling, dehorned
steers of U. S. Good to U.S. Choice feeder grade and weighing between 600
and 650 pounds each, on or about May 1, 1959, and will furnish necessary
feed, veterinary services and supplies. The University will graze and care
for these cattle and will analyze and publish research data collected. At the