<pre style="white-space: pre-wrap">xt7t1g0htz6k https://exploreuk.uky.edu/dips/xt7t1g0htz6k/data/mets.xml Lexington, Kentucky University of Kentucky 19370222 minutes English University of Kentucky Contact the Special Collections Research Center for information regarding rights and use of this collection. Minutes of the University of Kentucky Board of Trustees Minutes of the University of Kentucky Board of Trustees, 1937-02-mar22-ec. text Minutes of the University of Kentucky Board of Trustees, 1937-02-mar22-ec. 1937 2011 true xt7t1g0htz6k section xt7t1g0htz6k 


     Mlinutes of the Meeting of the Executive Committee of the
Board of Trustees of the University of Kentucky, Monday, March
22, 1037.


     The Executive Committee of the Board of Trustees of the Uni-
versity of Kentucky met in President McVey's office at 10:30 a.m.
on Monday, March 22, 1937.   The members of the Committee present
were Judge Richard C. Stoll, R. Miller Holland, and J. B. Andrews,
President Frank L. McVey and D. H. Peat, Secretary of the Board,
were present.


     1. Approval of Minutes.

     The minutes of the meeting of February 24, 1937, were ap-
proved as published.


     2. Firnancial Report for Feruary, 1937.

     The financial report for February, 1937, was produced by the
Business Agent.     The report was examined by the Committee and
was ordered inserted in the Minutes.


                                            EXHIBIT "B"


Statement of Income and Expenditures
       Month of February 1937


                            Previously
                            Reported

General Fund Income
Federal Appro. - Morrill-
   Nelson                   19,000.00
 Vocational Ed. Board       10,947.41
 State Appro.-Summer Sch.   8,000.00
 Special Agr. Appro.        13,864.72
 State Appro.-General     372,258.17
 Int. on Peabody Endowment 1,000.00
 Int. on Endowment Bonds   12,852,37
 State Appro.-Repairs to
   Buildings                 4,936.02
 Federal Appro .-Bankhead-
   Jones                    11,926.56
 Student Fees              119,173.21
 Student Fees   Sum.Sch.   55,894,53
 Student Fees   Un,H.S.      5,215.00
 Student Fees   El.Tr.Sch.  4,225.00
 Student Fees - Un.Extern.  9,900. 
 Misc. Receipts              3,438,66
 Rentals                     1,524,00


CMorrent
Mlon~th


4,750.00
2,058.49

2,472.43
64,07. 89


   406. 70

 2,981.64
98,359.57
    22,75
 3,030.00
 3,340. 00
 1,317.91
   729. 88
   125.00


Fiscal
Year
to Date


23,750.00
13,005,90
  8,000.00
  16,337,15
437,338.06
  1,000.00
  12,852.37

  5,342.72

  14,908.20
217,532.78
55,917.34
  8,305.00
  7,565.00
  11,218.79
  4,168,54
  1,649.00


Men's Dormitories
          Total

Expenditures
  Instruction
  Adimninistration, Exp.
     and Maintenance
 Additions and Better-
     ments
           Total

 Excess of Income over E
     penditures

Patterson Hall Income
Board
  Miscellaneous Receipts
  Room Rent - Summer Sch.
            Total

Expenditures
Expense
Additions and Better-
     ments
            Total
 Excess of Income over
     Expenditures


General Fund Income
General Fund Expenditures
Excess of General Fund
  Income over Expendi-
  tures
  Excess of Expenditures
  Receipts for General
  Ledger accounts
  Excess of Receipts over
  Expend. for the fiscal
  year, to date - General
  Fund


11,213.73    5,463.47
666,370.32  183,197.73


462,587.09   73,880.36

157,183.61   22,309.05

10,324,36     1   9
630,095.06   9%Ll8.814


  36,275.26    91,038.89


  28,609.45    12,969.20
     239.89
   3,098.10       822.00
   31,947. 44   13791 .20


   17,969.40     2,983.68

     123.62
  18,093.02-    2,983,68

  13,854.42.   10,807.52

  698,317.76   202,968.93
;_648,188.08  101,142.52


  50,129.68   101,846.41
over

(25,120.31)   (5,225.27)


  25,009.37    96,621.14


16,677.20
8.55,568.05S


536,467.45

179,492.66

12,293,79
728,253.90


41,578.65
  239.89
  3,920.10
45,738.64


20,953.08

  123.62
21,076.70


24,661.94

901,306,69
749,330.60


151,976.09


(30,345. 58)


121,630.51


Excess of Receipt s over Ex-m
penditures for the fiscal
year to date - General Fund
Cash in Bank July 1, 1936 -
General Fund
Cash in Bank February 28, 1937
Genleral Fund


121,630.51

52,785.93

144,416.44


3.


Experiment Station Inoome
  Hatch - Federal Appro.       11,250.00
  Milk and Butter - Oash Re-
    ceipts                      6,111.87
  Beef Cattle Sales               971.11
  Dairy Cattle Sales              907.31
  Sheep Sales                   1,147.74
  Swine Sales                   1,D44.76
  Poultry Sales                 2,082.10
  Farm Produce Sales            2,662.40
  Horticultural Sales              82.55
  Seed Test                       589.25
  Seed Inspection               9,658.64
  Rentals                       2,998.69
  Miscellaneous                 2,106.76
  Fertilizer - Fees            12,765.13
  Public Service - St. Appro.  12,016.42
  Public Service - Misc.          238.50
  Feeding Stuffs - Fees        38,006.63
  Adams - Federal Appro.       11,250.00
  Serum - Sales                 1,147.31
  Serum - Virus Sales              64.85
  Serum - Live Stock               31.57
  Serum - Supply Sales             62.11
  Serum - Mlisc. Receipts
  State Appropriation          29,316.47
  Creamery - License Fees       8,161.04
  Creamery - Testers Licenses   2,969.50
  Creamery - Glassware Tested     522.79
  Robinson - State Appro.        8,83,. 04
  Robinson - Misc. Receipts      2,026.15
  West Kentucky - State Appro.   8,120.89
  West Kentucky - Mlisc. Rec.    7,748.23
  Purnell - Federal Appro.      45,000.00
  Bankhead-Jones - Fed. Appro. 29,601.75
Nursery Inspection - State
   Appro.                        1,166.64
 Nursery Inspection - Fees      1,360 00
                    Total   _,_1


3,


5 ,
1 ,


4,


       11,250.00

876.14  7,010.41
          971.11
 65.00    949.91
        1,147.74
 45.00  1,989.76
 188.80  2,270.90
 276.25  2,038,65
           82.55
 65.05    654.30
,009.59 12,668.23
144.67  3,143.36
21.66  2,128.42
,718.75 18,483.88
,673.98 13,690.40
30.60    329.10
,986.82 42,993.45
       11,250.00
290.62  1,437.93
14.55     79.40
            31.57
 10.80     72.91
 8.00      8.00
,503.18 33,819.65
12.00  8,173.04
34.00  3,003.50
73.21    602.00
,281.80 10,112.84
248.24  2,273.39
983.55  9,104.44
,390.03 10,138.32
        45,000.00
        29,601,76


   166.66  1,333.30
   30.00  1,390.00
2^7 ? 1.1S0142


Extaditures
Expense
Additions and Betterments
                    Total
  Excess of Income over Lx-
    penditures
  Lxcess of Receipts over Tx
  penditures "or General
    Ledger accounts
  Excess of Receipts over Ex
    penditures
  Excess of Receipts over Ex
  penditures for the fisca
  year to date - Experimer,
  Station


  211,923.66     27,341.86 239,265.52
    9,921.81      2,296.80 1_2218.61
--21 t845.47     29,638.66 2514L.4,13


41,073.74


31,978,66


73 052.40
_  


(2,423,65) 38,650.09


  115.53  32,004.19


(2,308.12)_7027A442.8


70,744.28


4.


Cash in Bank July 1, 1936 -
Experiment Station
Cash in Bank February 28,
1937 - Experiment Station


(7.585.30)


Extension Division Income
  Federal Bankhead-Jornes
  Federal Smith-Lever
  Federal Add. Co-op.
  Federal Supplementary
  Federal Capper-Ketcham
  State Smith-Lever
  County and Other
              Total

Expenditures
  Exper.se

  Excess of Incomle over Expen-
    ditures
 Excess of Expenditures over
    Reeeipts for General LedE
    accounts


328,290.30
148,308.76
12,500.00
39,818.29
36,800.97
66,459.76
13,P50.88


641


5,969.19
144.76


328,290.30
148,308.76
12,500.00
30,818.29
36,800.97
76,428.95
13,195.64


5,228.96 10,113,95 655,342.01


3,086.22 56,038.23 442,124.45


259,142.74 (45,924.28)213,218.46


(47,102.16)


(47.102.16)


Excess of Receipts over Ex-
  penditures


Excess of Receipts over Ex-
   penditures for the fiscal
   year to date - Extension
   Division
Cash in Bank July 1, 1936 -
   Extension Division
Cash in Bank February 28,
   1937 - Extension Division


Trust Fund Income
  Student Loan Fund
  Student Notes Paid
  General Ledger accounts
             Total Receipts

Expenditures
Expense
  Student Notes
  General Ledger accounts
             Total Expend.

 Excess of Expenditures over
   Receipts


212,040.58 (45,924.28) B6,116.30


166,116.30

48,500.09


214,616.39


2,255.47
2,314,56
2, 80 . 70


691.89    2,947.36
198.49    2,513.05
          2,801.70


7,371.73    890.38    .8j2 .11


    9.00      6.00       15.00
    72.75    145.00      217.75
8,000.00              8,000.00
--8,1.75    151.00   -   32'75    -


-(7, 10.02 )  739.38


Excess of Expend, over Receipts
for the fiscal year to date -
  Trust Fund
Cash in Bank July 1, 1936 - Trust Fund
Cash in Bank February 28, 1937 - Trust Fund


29.36


    29.36
7,472.75
7 502.11


63 158.96
  2


- __


5.


Summary
  fGeneral Fund Income     698,317.76
  Experiment Station Inc.  262,919.21
  Extension Div. Income    645,228.96
  Trust Fund Ir.coine        2,255.47
                Total    1,608,721.40


General Fund Expenditures 618,188.08
Experiment Station
    Expend.              221,845.47
Extension Div. Expend.   386,086.22
Trust Fund Expend.             9.00
              Total    1,256,128.77


Excess of Income over Ex-
   penditures            352,5w2.63

Excess of Expend. over Re-
   ceipts for General
   Ledger accounts        (45,442.11)


202,988.03
27,215.01
10,113,95
    691.89
241,009.78


101,142.52

29,638.66
56,038.23
      6.00
186,825. 41


54,184.37


(5,109.74)


001,306.69
290,134.22
655,342.91
   2,947.36
1,849,731.18


  749,330.60

  251,484.13
  442,124.45
       15.00
1,442,954.18


406,777.00


(50,551.85)


Student Loan Fund Notes


Excess of Receipts over Expend-
  itures for the fiscal year to
  date - Combined Ftind    309392.33


40,128.12


Excess of Receipts over
  Expenditures for the
  fiscal year to date -
  Combined Fund
Cash in Bank and on hand July
  1,1936 - Combined Fund
Cash In Bank and onr hand Feb-
ruary 28, 1937 - Combined
Fund


358.520.45


358,520.45

103,373.47


461,8934,2


Abstract of item shown on statement
of Income and Expenditures as "Excess
of Expenditures over Receipt s for
General Ledger accounts $45,442.11"


Debit


Accouits Receivable

Sundry accounts

Insurance Paid in Advance


Credit


21,498.93

23, 929. 62

    13. 50


4f5,442.11


2,241.81


53-49


2. 295F.30


ffi - -


6,


     3, Status of Indebtedness or. Buildings.

     The following report of the Business Agent was ordered in-
serted in the Minutes:


     Mlents Dormitories

     The lease on the Men's Dormitories continues for twelve years
and five months from March 31, 1937.    The payment of .823,792.40
a year makes the total payment for the period to run f295,402.30.
However, on September 1, 1937, the University has the right to
pay off the debt for 8186,660.18.    This amount, with the five
monthly payments due from March 31, 1937, to September 1, 1037,
at 81,982.70, totaling 83,913.50, makes a total of 2l96,573.68.


     Service Building

     The amount due on the Service Building, if paid as rent,
through a period of nine years to run, is 856,025.00.    The amount
due on principal at this date is $45,000.00,.


     4. Report of Condition of Dr. James K. Patterson Bequest.

     A report on the condition of the Dr. James K. Patterson Be-
quest was received from the Security Trust Company, and ordered
inserted in the Minutes:

                                     March 17, 1937

     Hon. D. H. Peak, Business Agent
     University of Kentucky
     Lexington, Kentucky

     Dear Senator Peak:

          Your letter of March 16 has been received.
    We enclose a statement of account of this Company
    as Executor of the estate of James K. Patterson show-
    ing the present status of securities and cash, aso
    the amount of principal and accumulated income. We
    have given both the value at which these securities
    are carried on our books for accounting purposes
    and the present approximate market value of the
    securities, the later being furnished in order that
    the present worth of the fund may be known.     If
    any more detailed statement is desired or any further
    information wanted we shall be pleased to furnish it
    upon request.

                          (Signed)   C. N. M1anning
                                     President


7.


                March 17, 1937

STATEIVENT OF ACCOUNT OF SECUIITY TRUST COMPANY

            EXECUTOR JAiES K. PATTERSON

                                 BookV
                                 V~alue


75 shs. State National Bank,
    Frankf ort, Ky.
 75 shs, Carolina, Clinchfield
      & Ohio Ry. Co.
178 shs. First National Bank &
      Trust Company
168 shs. Inter-Southern Life in-
      surance Company
 35-343/1000 shs. Louisville Trust
      Company

5000 Carolina, Clinchfield & Ohio
      Ry. 6s 1952
5000 United Railways of Havania 71-s
      of 1936
'000 Southern Railway General Mort-
      gage 61s 1956
3000 Henry Oliver First Mortgage
      6s of 1939
500 U.S. Treasury 3*s of 1943-45
2000 U.S. Treasury 2-3/4s of 1948-
      51
3000 U.S. Treasury 2-3/4s of 1951-
      54
000 U.S. Treasury 2-Is of 1949-53
000 US. Treasury 2-7/8s of 1955-
      60
000 U.S. Treasury 3-118s of 1240-
      52
000 Federal Farm Mortgage 3s of
      1947
000 Federal Farm Mortgage 3s of
      1949

000 Pennsylvania Railroad 41s of
      1981
000 Canadian Pacific Railroad 5s
      of 1954
000 Lexington Water Company 5s of
      1960


8 7,500.00

5,887.50

  9,812.50

    224.00

  3,534.30


  5,345.00

  5,495.00

  11,620.00

  3,000.00
  42, 500.00

  22,426.24

  2,000.00
  1,000.00

  7,000.00

  10,475.00

  4,056.24

  10,133,13


  10,168.33

  10,475.00

  3, 9l0.32


Anproximat e
Market
Value


7,500.00

7,500.00

18,868.00


   420.00


 5,450.00

 * 00. 00

 10,500.00

 3,000.00
 45,000.00

 22,440.00

 2,040. 00
 1,000.00

 7,210.00

 10,600.00

 4,120.00

 10,300.00


 10,500.00

 10,700. 00

 4,000.00


r,


10

3

412
22

2

1
7

10

4

10


10

10

4


8.


1000  Erie Railroad Company (Genesee)
          6s 1957
10000  Consolidated Gas Co. of N.Y.
          41s of 1951
10000 Commonwealth Edison Co. 4s of 1981
6000 Ashland Home Telephor.e Co. 41s of
          1961
2000  Central Pacific Railway 5s of 1060
3000 Florida Power & Light Co. 5s of 1954
3000 Columbia Glas & Electric Co. Se of
          1952
8000 New Phoenix Company First Mtge. 5%
         Notes


1,177.50   1,160.00


10,300.00
10,150.00

6,000.00
2,037.50
2, 77.50


10,600.00
10,500.00

6,180.00
2,020.00
2,760.00


3,146.25   3,090.00

8,000.00   8,000.00


6% Mortgage and Lien Notes
5% Mortgage Notes


TOTAL INVESTMEfNTS...............
     CASH .....................
TOTAL FUND . ...................


10,000.00  10,000.00
10,000.00  10,000.00


$240,351.31 t46,408.00
  7 602.94   7,602.94
$2-47, -:54.25$ 54,010.9.4


    AMOUNT OF PRINCIPAL -     (BOOK VALUE)-      128,627.13

    ACCUMULATED INCOME ------------------------  113,327.12

    TOTAL FUND          (BOOK VALUE)----------- $247,054.25


    5. Investment of Peabody Fund.

    The following report of the Business Agent was, on motion
and second, approved, and the transfer of the securities as noted
therein was approved and ratified;

     Four Kentucky State Warrants numbers H-8X00, 11-8301, H-8902,
and H-8903, dated January 1, 1935, for 810,000 each, heretofore
purchased for investment of the Peabody Fund, were called by the
State Treasurer for payment.   The costodians, J. E. McFarland
and D. H. Peak., by authority granted-y7 the Board of Trustees,
presented warrants to the State Treasurer for collection of inter-
est accrued and reinvestment of principal.   The interest,$1,205.-56,
was placed to the account of operating fund of the College Divi-
sion,
     The new warrants issued by the State Treasurer and now in the
hands of the custodians are in amounts, dates and numbers as fol-
lows:   Series 5 1B  403,404,405, and 406, $10,000 each, dated the
first of March, 1937, and due June 1, 1940.    Seven coupons are at-
tached to each,  the first one for .100 and the other six for
 150 each payable on the first of July and first of January, dur-
Yng the pr o, s the warrants are to run.


9.


     6.. Student Loan Fund..

     a. The action of the Business Agent in investment of the
Patterson Student Loan Fund as shown by following statement was
approved and ratified, on motion and second.

     Statement of Business Agentt:

     As directed by the Executive Committee, 85000, amount of
the Patterson Student Loan Fund, has been invested in Lexington
Federal Savings and Loan Association, certificate of deposit
No. 603, dated March 20, 1937.   The interest on this is payable
semi-annually in (ash.

     The condition of the Student Loan Fund, including the Pat-
terson Loan Fund, now stands as follows:


$5,000.00 -

  5,000.00 -
  4,600.00 -
  13,184.06 -

  2,047.36 -
  19?0 0.60 -
849 832-,02


Lexington Federal Savings and Loan Asso-
ciition.
Lexington Water Company bonds.
Three per Qent Kentucky State Warrant.
Savings Account First National Bank and
   Trust Co., Lexington.
Cash in Bank.
Student Notes.


     7. Audit of Business Office Accounts.

     The Committee on Audit of Business Office accounts was con-
tinued.


     8. Report Of Campus Book Store,

     The following report was received and ordered inserted in
the Minutes:

                                 July 1, 1936 - January 1, 1937

                            Sales


July -
August  -!-----------------------------
September --------------------------
October.
November  ------ -------------------------
December -------------------------____


$3,746.84
    688.85
 33,781.11
 5,413.58
 2,688.66
 2 ,388. 90
R48,707, 94


        10.
CCOCLIISSION APPLIED


Gross Sales Commission --                       8470.73.

Exemptions and deductions -------------------


Law Textbooks --------------
American Library Association-
Dr. M. M. White -------------
Young and Averitt -----------
Mr. P. K. Whitaker ------
Dr. F. C. McFarland --------
Dr. H. B. Holmes ------------
Mr. B. L. Schick ------------
Dr. E. Z. Palmer ------------
Dr. Harry Best ------------_


q83.77
4.72
61.90
1D.60
14.58
15.74
5.36
10.45
12.30
5.76


Net Cash Return to Univer-
     sity


d.234.08


84,636.71


SUMMARY OF INVENTORY OF THE CAMPUS BOOK STORE

             For January 1, 1937


       Books -------------------------
       Student Supplies --------------
       Requisitions ------------------
       Novelties  - -------------------
       Cap and Gown ------------------
       Special Order Shelf -----------
       Furniture and Fixtures       


                     SUMMARY


Agriculture ---------_________________
Bacteriology  ---------  -------  ------
Botany -__________________________
Chemistry ---- - ------------------
Economics --------- -------  -- - -----
Education -------------------------
Engi~neering ------ ----------------
English  ----------------------------
Geology  --.-------------- ------------
German  -------________--------------
French --------------------------------
High School ------------------------- 
History ----.---________--____________
Home Economics -----------------------
Hygiene -----------------------------
Journalism  ---------------------------


12,677.27
12,850.84
  3,398.09
  3,924.72
    600.00
      6.00
  6,920.05
$39,376.97


January 1937

$ 668.80
  122.30
  14.650
  269.25
  1609.24
  930.60
  810.55
  1224.14
  202.22
  04.22
  192.72
  206.76
  196.40
  292.72
  51.00
  735.2!


11.


      Latin                      _                     54,03
      Law                                       --- 6_5__._40
      Library -----------------------------------     160,14
      Mathematics ------------------- ------------   367.68
      Military -----------------------------------   255.90
      Music ----------------------------------        247.80
      Physical Education --------------------------   135.25
      Physiology ---------------------------------    249,78
      Philosophy --------------------------------     148.51
      Physics ----------                              450.35
      Political Science --------------------------    385.45
      PsYdhology ---------------------------------    611.61
      Public Speaking ----------------------------    186.59
      Sociology ----------------------------------    378.75
      Spanish    -----------------------------        143.17
      Zoology  -------------------------  ----------  523.15
                                                  812,677.27


                            Eespectfully submitted,

                                        James Mvlorris
                                        Manager.


     9. W. M. Dunn Claim,

     President McVey presented a letter of' W. M. Dunn, of Lexing-
ton, Kentucky, in which he claims that during the year 1930 he
furnished dirt for University Training School grounds at the
request of the Superintendent of Buildings and Grounds, the price
to be paid for the dirt to be 8450.00.

     It seems that this claim was never properly presented and
that no action has been taken thereon.    The Business Agent was
ordered to make investigation of all facts in regard to the claim
and to report to the Executive Committee or Board of Trustees,


    10. Kobert Collection -- Ordered Catalogued.

    The collection of' Doctor Kobert was placed in the University
Museum in accord with resolution passed at the meeting of the
Executive Committee on ilMay 22, 1036.  Part of the agreement was
that the University have the collection catalogued.    Professor
W. S. Webb states in a letter to President McVey that he has just
been able to find some one who can do this work, He recommends
that Mr. John Buckner be employed for a period of two months at
salary of $100.00 per month, effective March 1, 1937, for the pur-
pose of cataloguing the material.


12.


     On motion of Mr. Holland, seconded by Mt. Andrews, recom-
mendation of Professor Webb for the employment of John Buckner,
for purpose, period of time and at salary above stated, was ap-
proved and ordered.


     11. Purchase of Ladder Jacks Ordered.

     In a letter to President MIecVey, the Superintendent of Build-
ings and Grounds states:

          The time has come when the possession of a suf-
     ficient number of adjustable ladder Jacks is necessary
     to the work of this Departmiient.  These Jacks can be
     adjusted from 6 -ft. to D ft. in height and are used
     to support platforms for ceiling work, such as plaster-
     ing, painting, general repairs and construction.

           ................

           When it comes to paintinCg in Memorial Hall, Libra-
     ry and elsewhere, this equipment is very essential to
     production.   I would like to nave enough of these
     Jacks to stage and scaffold a room one-half the size
     of Memorial Hall, which would take about 50 units.
     They sell for ^.6.00 each delivered, to Lexington.. This
     sounds like a lot of money now I know, but, on the other
     hand, wheni one considers the way our work is growing,
     I don't see how we can afford to do without them much
  On lover
On Presi enrt  lcVeyIs approval, it Was ordered that sufficient num-
ber of ladder tacks CLe purchased to take care of the needs inidicat-
ed ih Suoerintendent Cratcher' s letter.
     12. Repairs and Basement Reconstruction.

     a. Dormitory Basements

        President McVey stated that it is proposed that the base-
ments of the Men's Dormitories be reconstructed so as to provide
more rooming facilities.   The question was discussed as to de-
sirability of using basements for rooming purposes, as to the
cost of such reconstruction, and as to the right of the Universi-
ty to make the changes suggested because of the contract with
Security Trust Company.   No action was taken.

     b. Physics Building

        President McVey stated that it is desired that certain
changes be made in the Civil and Physics Building, in order to
fit it properly for the use of the Department of Physics, when
the Engineering Buildings are completed.    At present, it was
stated, the Department of Physics uses about two thirds of the
building,   while the Department of Civil Engineering uses the
remainder.   The question of space needed by the Department of


113.


Physics was discussed, as was also the cost of the changes pro-
posed; and it appeared that the cost of making the changes may
be greater than funds available.   It further appearing that as
the proposed changes are linked with the interests of the Col-
lege of Engineering and the new construction program, it was de-
cided to refer to Dean Graham the question of plans and estimates
on changes, and other matters pertaining thereto.


     13,; Meredith Memorial Fund

     Correspondence:

     a.-                    March 19, 1137

     Professor R. N. ivMaxson
     University of Kentucky
     Lexington, Kentucky

     Dear Sir:
                   At the request of General George B. Dun-
     can, I am enclosing check of Col. Owen R. Meredith for
     $700.0O to establish the fund to be known as the

            WILLARD R.. IvEREDITH MEMORIAL FUND..

                   This cieck is made payable to Mr.. D. H.
Peak, Business Agent, University of Kentucky..

                         (Signed)    J. C. Nichols
                                     Vice President.


     b.                      M'arch 20, 1937
     President Frank L. McVey
     University of Kentucky

     Dear President McVey

                     I am enclosing agreement and declara-
     tion of trust for the establishment of the Willard
     Riggs Meredith Memorial Fund,

                     You will find Colonel Meredith's address
     on the letter from the bank.


(Signed)   R. N. Maxson


14.


     Resolution

     On motion and second, the following resolution was passed:
"Be it resolved that the gift of Colonel Owen R. MI'eredith of
$70.00 for the purpose of establishing the William Riggs Mere-
dith Fund be accepted, that president McVey be authorized to
execute for the University of Kentucky the declaration of trust
for establishment of the fund, which declaration is hereby or-
dered to be inserted in the Minutes of this meeting as part of
this resolution, that President McVey express to Colonel Mere-
dith for the Board of Trustees appreciation of the gift of the
fund, and that the fund be invested in suitable securities."


     Declaration of Trust

     WHEREAS, Col. Owen R. Meredith and his wife, Mrs. Marion
Willard Meredith, desire, on certain conditions, to establish
a memorial fund in honor of their deceased son, Willard Riggs
Mieredith, on terms herein below set forth and whereas the Uni-
versity of Kentucky desires to foster the ideals of good citizen-
ship, character and scholarship:

     WHEREFORE, be it resolved:

           The said Col. Owen R. Meredith, settlor, does hereby
give and transfer to theUniversi.ty of Kentucky the sum of Seven
Hundred Dollars ($700.00) to be placed at interest by the said
University of Kentucky on the following terms, to-wit:

           1. The fund thus established shall be known as the
              Willard Riggs Meredith Memorial Fund and the
              principal sum shall be held by the trustee in
              perpetuity..

           2. The annual income therefrom., but no part of the
              principal, shall be used as a prize to be awarded
              on the basis of good citizenship, character,
              scholarship and the promise of service to the
              country.

           3. The award shall be made annually to a senior in
              the said University graduating with major in Chem-
              istry or in Industrial Chemistry, who shall ex-
              emplify in the highest degree the qualities ex-
              pressed in paragraph 2,..

           4. The award shall be made in each case by vote of
              the Chemistry Staff of the College of Arts and
              Sciences of the University.

           5. The fund shall be under the immediate control of
              the Business Agent of the University, for pur-
              poses of investment, and under the general super-
              vision of the Board of Trustees.


15.


          6. Ir. the event that in any particular year no such
             senior, in the opinion of the Chemistry Staff,
             shall fulfill the requirement of paragraph 2
             above, then the said staff shall not be obliged
             to make an award for that year, but the sum thus
             accruing may be used in any subsequent year on
             the same terms, for a second similar award or
             be added to the sum accruing regularly for the
             given year to increase such award.

          The University of Kentucky hereby, by its President,
signifies its acceptance as trustee of the above mentioned sum
of Seven Hundred Dollars ($700.O0) to be applied as herein Indi-
cated and consents to all the terms herein set forth.


                        (Signed)  Frank L. McVey
                                   President, University of
                                        Kentucky


                        (Signed)  Owen R. Meredith


                        (Signed)  Marion Willard Meredith,


     14. Booklet of University pictures.

     President hMlcVey stated that heretofore a booklet of campus
and other pictures, Illustrative of' the University of Kentucky,
had been issued, that it proved to be of interest and value to
the institution and that he deemed it desirable and of value to
the University to issue another such booklet, larger and better
in design.   He recommended that an order be inade for 5,000
booklets, based on the quotation and terms made in the following
letter:

                                   March 11, 1937

     Mr. Elmer *. bulzer, Director
     Publicity Bureau
     University of Kentucky

     Dear Mr. Sulzer:

               We are pleased to quote you as follows:

     5,000 Copies of a 32-page (16 leaves) "picture book", to
     be printed in black ink, on 70# white Swift Offset, sad-
     dle stithed, self covers, trimmed flush - our price on
     this Work including the necessary halftone screening,
     all art work, Benday effects, composition and proofs, and
     all other costs of every nature in relation to this pub-
     lication - 12V a book, or a total of 50O0,00


16.


     Should this order be increased to 10,000 books, all to
     be run at the same time, our price will be 90 per book,
     or a total of $900.00.

               The above prices include a liberal allowance
     for halftone screening which, I am sure, will be ample
     to cover the requirements of this book.   Should our
     cost of screening be less than the sum we have estimated,
     I assure you your invoiced cost will reflect this savings..

               If we are favored with this order, our Louisville
     office expects to work very closely with you - preparatory
     work will, at all times, be available for inspection. All
     art work and lay-outs will be made right here in Louisville,
     and, I believe that frequent conferences, both at your of-
     fice and ours, will prove mutually beneficial and will re-
     sult in a very beautiful and unusual publication.

               Looking forward with the keenest anticipation
     to the pleasure of working with you on this "picture book",
     we are

                             (Signed)   Leon M. Stein
                                        District Manager
                                        JOHN S. SWIFT CO,,Inc.


     Mr. Holland stated that he was very muchie.sed with the
former booklet and believed that another such booklet will be
of value to the University.   The other members of the Committee
concurred in Mr. Hollandts opinion, and thereupon he offered a
motion, seconded by Mr. Andrews, which motion was duly carried,
that a requisition be drawn and sent to the Division of Pur-
chases, Frankfort, Ky., requesting the publication of 5,000
University scene books, and that the quotation of John S. Swift
and Company, Louisville, Ky., be submitted with the requisition,
together with request for prompt action in making the booklet,
as it is needed for immediate distribution.

     It was further ord</pre>