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    Minutes of the regular moth~y neat ing oi the Gxecutive Committee Of
the Board of Trustees, University of Ksntuo.ky,' for Wednesday, May 4, 1921.


     The Executive Committee of the Board of Trustees. University of Xen-
tucky; met in regular monthly session on. Wednesday; IAa.3 4, 1921, in the
President'Os office at the University at 11:3L) o'clock, a- m.  The follow-
ing members were present: Judge Riohard C. Stoll3' P. P, Johnston, Jr.,
Rainey T. Wells, and Robert GC. Gordon.  Fran!: L. MoVey; President of the
University;, and Wellington Patricok  Secretary of the Committee, were also
present,   The meeting was called to order by Judge Stoll.   The minutes
of the previous meeting were approved as published.

     (1) Report of the Business Agent.   The following report from the
Business Agent -was read aand ordered incorporated ih the minutes:

                                         April 22,- 1921

     President Frank L. IvIcVey

          University of Yentucoky

     Dear Dootor MoVey;

          We have sold State War-axA.s amounting to'$l;):789.65 which
     is the face value of the, Warrauts'plus $87-335   Thei surplus has
     been credited to the General Fund, and the face vrIte of each
     Wa-rrant has been credited to the fund for which it was issued.
     One $20,.0OO note has been paid leaving balance indebtedness on
     notes exclusive of Peabody rno-.e $95,00   T-he cash now on hand
     with collections will ta. c oare olf the April pay roll and probably
     all bills neoessary to be -a'id in April and May.  *'T& now have on
     hand $524179045 in Warrantsz, aud expeot to get $20,000 or more ia
     May.

                                          Very truly

                                     (Signed) D. H. Peak

                                         Business Agent.

                                                       May 4f, 1921

     President Frank L. MoVey

          University of Kentucky

     My dear President McVey:

           -As we have not closed our books for the month of Lprij., it
     will be impossible to make a detailed financial report, 'out for
     your information I wish to submit the jolljoeing:


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