April 26, 1920



    President Frank L. MoVey

         University of Kentucky

    My dear President MoVey:

         The Committee appointed to purchase coal advertised
    in the Lexington newspapers for bids, and sent notices to
    all coal companies having offices in Lexington and also to
    companies outside of Lexington.  No bids have yet been
    made except by the Kinkead Coal Company and it was merely
    to furnish and deliver the coal at market price when de-
    livered.

         Mr. Grady was here Saturday and it was then decided
    to postpone letting contract.

                                       Respectfully,

                                            D. H. Peak,

                                                  Business Agent.

     5. George Peabody Fund.  The Business Agent transmitted a
notice from t]e Phoenix and Third Trust Company of Lexington, Ken-
tuoky, indicating that the University's note for $35,000 on account
of purchase of Liberty Bonds with the George Peabody Fund, was due.
On motion, the Business Agent atar the Chairman of the Executive Com-
mittee were instructed to pay the interest and renew the note.

     6. Capital Account and Indebtedness of the University.   After
discussion of the capital account and indebtedness of the University
as indicated by tIh auditors Marwiok, Mitchell, Peat and Company;
President MoVey was requested by the Committee to report to the Board
at its meeting in June, the conditions of the capital account and
the University debt.

     7' Carey-Reed Acocunt.  A bill for $3,600 for work on the Uni-
versity campus and the building of the road from Patterson Hall across
the University campus, was presented by the Carey-Reed Company.   It
was indicated that the contract was let in 1916 by Dr. Joseph Hoeing
Kastle, Director of the Experiment Station.   At a previous meeting
of the Executive Committee, at which Mr. Carey presented the bill,
it was ordered that the account be paid as soon as the road was oian
pleted.   On motion duly made and seconded, the Business Agent was
instructed to pay the bill on receipt of a written statement from
the Superintendent of Buildings and Grounds, that the work was completed