18.



     17. Reserve Foundation - University Research Corporation.

     At the meeting of the Executive Committee of March 13, 1935,
President McVey suggested discussion of question of University Re-
search Corporation, such as seen in University of Illinois organi-
zation.   The question was that asked, why is a separate corpora-
tion necessary, and it was suggested that the President make fur-
ther investigation.

     President McVey reported that he had received articles of in-
corporation of such project from Illinois, Wisconsin and Tennessee
and that he had made some study of these articles of incorporation,
but that, at this time, he was of the opinion that the matter is
not in shape for action by the Board of Trustees.


     18. Budget for 1935-1936.

     The budget for the year 1935-1936 was presented by the Pres-
ident, he explaining at length the estimates of income and the pro-
posed expenditures.   It was adopted, subject to such changes and
revision as may hereafter be made by the Executive Committee.


     19. Election of Alumni Member.

     It appears that it is time for the appointment of an Alumni
member of the Board of Trustees, Mr. Hillenmeyer's term expiring
January 1, 1936.   The Secretary of the Board and the Secretary of
the Alumni Association were authorized to take the necessary steps
for nomination and election of three persons whose names shall be
presented to the Governor of the State of Kentucky from which to
select a member of the Board to fill the Vacancy that will exist
on account of facts stated.


     20. Appointments and Other Staff Changes.

     Miss Edna Mae Kirk as secretary in summer session office, ef-
fective April 1, 1935, at salary of $75.00 per month.

      Miss Marjorie Mitchell as secretary in the Department of Phys-
ics, effective January 1 to June 30, 1935, at salary of 870.00
per month.

      Mr. Willard Hogan to fill the position left vacant by the
leave of absence of Mrs. Esther Cole Franklin in the Department of
Political Science for the months of April and MJlay at salary of $200
per month,

      Mr. John Brueck as technician in the Department of Becteriol-
ogy, to fill vacancy caused by leave of absence of Thomas L. Sny-
der, for months of June, July and August at salary of $50.00 per
month.