MSnrutes of the Regular Quarterly lee ting of the' Board of
T'-jstatG f.--r Wednesday, December 19, 1923.



     The regular quarterly meeting of the Board of Trustees of
!;T'o Vniversity of Kentucky met in the PresidentTs office at the
University on Wednesday, December 19, 1923.   'he following
tiembars were present: Judge Rainey T. Wells, Senator H. M. FProman,
'Ir. Howoard P. Ingels, M41r. J. I. Lyle, Mr. Frank 11cKee, Air, WI  
%aredy, Judgae R. C.. Stoll, r. 1W. C. Hanna, Mr. Lewis M. Lebus,
iKr.- J. R. Rqash_  11r. Clell Coleman, Commissioner of Agriculture,
elect, at the invitation of the President, was present at the
meeting.   Prank L. MoCVey, President of the University, and
'"16llington Patrick, Secretary of the 'Board, were also present.

     The minutes of the meeting of the Board of Trustees for Oc-
tober 2 were read and approved.

     1. Rgt~p  ! the Ah ugn               The report of the Businesa
Agent was read and ordered incorporated in the minutes.   The
report was as follows:

                                      Lexington, Kentucky
                                           December 19, 1923
          President Frank I. IBo5Zey
               University of Kentucky

          Dear Presid6nt MeVoy:

               I am submitting st tement of income and
          oxpenditures for the month of Novrember.  It
          now appears that'it Tvill not be necessary to
          borrow more than $150,000 for current ex-
        . penlee.  Of that amount notes for $115 ,000
        have been executted and placed to the credit of
        the Treasurer of the University.   I am asking
        Judge Stoll to sign n note for t35,000 todey.
        JuaGe Stoll suggests that it may be well for the
        FBoaad to approve the amount of above loan.

              In event any lai'ge amount hlis to be paid
         on account of baskret ball building, I am not at
         a1l sure we sha:l.l have sufficient funds to meet
         our current expense a, and such an amount v s mav
         have to be paid on the basket bnll building, so
         it may be well for the Board today to make some
         provision for such an emergencyq

                                      Very truly yours,

                                           D. H. Peake
                                                Busi~ness 'Ag,.,,rt