3.



     4. Insurance Report - Fire and Tornado.

     The following report of the Business Agent on Fire and Tornado
Insurance was accepted, approved and ordered inserted in the Minutes:

          Dean Jaraes H. Graham, Mr. E. B. Farris, L. H. IAcOain,
     accountant, and D. H. Peak, Business Agent met to consider
     the valuations of University property for fire and tornado
     insurance on the appraisal made by Ur. Farris and the rates
     of such insurance as fixed by the Actuary Bureau shown in
     schedules presented to the University by the Division of
     Insurance at Frankfort.  Dean Graham approved the schedules
     with the exception of a few errors and according to his sug-
     gestion Mr. McCain and Mr. Farris met at Frankfort with Mr.
     English, State Insurance Manager, for the purpose of consider-
     ing changes in the schedules and correction of errors,
     Changes were made as far as possible to comply with facts
     and to correct errors,

          The schedule as it stands at present carries until
     the end of this fiscal year.  Possibly other adjustments
     in valuations and rates may be made at that time.

          Under the new valuation and rates, there are the fol-
     lowing additional prermium charges for 1940-1941:

               Division of Colleges        $754,64
               Experiment Station           456.93
               Princeton Substation         114.80
               Camp Robinson, Noble, Ky.    137.09

          There will be a refund for Robinson Substation of 8116*73,
     credit to be given on premium for 1941-42.


     5. Zoning on Euclid Avenue.

     President Cooper reported that the Lexington Zoning Commission
had been asked by MIrs. Yeager, owner of property on Euclid Avenue,
to change the zoning of property on the North side of Euclid Avenue
between the Sigona Nu Fraternity House and Lexington Avenue and ex-
tending to Adams Street, from residence to business,   At the meet-
ing of the Board of Trustees, held April 1, 1941, President Cooper
and Mr. Hillenmeyer were appointed to inquire into the question of
zoning this property.   It then appeared that the members of the
Board of Trustees were unanimous in opinion that the property should
not be used for business purposes and especially for the purpose of
conducting a bowling alley thereon,