xt7rbn9x1868 https://exploreuk.uky.edu/dips/xt7rbn9x1868/data/mets.xml Lexington, Kentucky University of Kentucky 19230423 minutes English University of Kentucky Contact the Special Collections Research Center for information regarding rights and use of this collection. Minutes of the University of Kentucky Board of Trustees Minutes of the University of Kentucky Board of Trustees, 1923-04-apr23. text Minutes of the University of Kentucky Board of Trustees, 1923-04-apr23. 1923 2011 true xt7rbn9x1868 section xt7rbn9x1868 








     Minutes of the regular quarterly meeting of the Board of Trus-
tees, University of Kentucky, for Friday, April 13, 1923.


     The Board of Trustees of the University of Kentucky mot in
regular quarterly session in the President's office at the Univer-
sityi, on Friday, April 13, 1923, at 11:30 a. m.  The following
,persons were present: Frank McKee, H. M1. Froman, J. I. lyle, W.
C. Hanna, J. R' Rash, R. C. Stoll and Rainey T. Wells.    Frank L.
-McVey, Presi&ent of the Univiorsity, and Vellington Patrio'k, Secre.-
"tary of tha Board, were also present.

     The minutes off the previous meeting were approved as published.

     (1) Purchase of Coal.   On motion, duly seconded, and unani-
mously adopted, a committee for the purchase of coal for the coming
year was authorized.   The chair announced that the committee for
the previous year would. be asked to serve again.   This committee
consisted of President IicVey, Mr. XIhipple and. Mr. Peak.

     (2) Scoville Park.   Prosident 3Mo'Vey stated to tho Board that
the filling in of the tract called. Scoville Perk was about com-
plated by the City of Lexineton; that at one time the 01ty had of-
fered to give the park to the Universit7y under certain conditions;
that in order to mlake sure that the park would. be carefully looked
after and used for proper purposes, some steps in that direction
should be taken.   He suggested to the Board that it might be well
to organize among the citizens in the community a Scoville Park
Association.   The members prfaent were of the opinion that some
such steps should be taken.

      (3) Honorary Degrees.   Prowident MoVey stated to the Board
that the University Senate had made a recommendation for the hon-
orary degree of LT. Dl. to be conferred on the following persons:

     George Ol.vin, State Superintendent of Schools.
     Ellen Churchill Semple, of Louisville, Xentuc'Ky.

     On motion, duly seconded, and unanimously adopted, the degrees
recommended were authorized to be conferred.

     A motion was made by Mr. Lyle, duly secoIded, and unanimously
adopted, authorizing the Executive Committee to pass on any other
honorary degrees recommended by the Senote during -the year.

      (4) E. 0. Robinson Mountain Fund.    (Sea minutes of the Ex-
ccutive Commrittee for March, 1923.T   Thire apnearea before the
Loard, the Board of Trustees of the E. 0. Pobtneon Mountain Fund,
consisting of the following persons: Mr. E. 0. Robinson, C. M.
Manning, Eudgo '. C. O'Rear, F. W. Mcbraj and Ieland Bqnning.




 






D.



These gentlemen appeared for the purpose of- discussing the matter
outlined in the minutes of the Executive Committee for Marth, 1923.
President MoVey read to the Board the following committee report on
the plans as drawn:
     Report of the Committee on E. 0. Robinson Mountain Puna

        This memorandum of agreement between the E. 0. Robinson
   Mountain Fund, incorporated under the laws of Xentucky, here-
   inafter called The Mountain Fund, of the one part, and the
   State University of Kentucky, hereinafter called The Univer-
   sity, of the other part, is to witness:

        The Mountain Fund is the owner of the certain lands in
   the counties of Breathitt, Perry and Kott, State of Kentucky,
   comprising some fifteen thousand acres (but be the same more
   or less) which are specifically described hereinafter; The
   Mountain Fund also has or will have available from time to
   time certain funds and income which it is proposed to devote
   to educational and experimental work, farm extension and re-
   forestration, to the end primarily of disseminating knowledge
   and training among the peoples of the mountain section, to
   the betterment of the condition and property values of said
   region; and whereas, The University is equipped and contem-
   plates extending its equipment for teaching and for demon-
   strating such work, the parties hereto hereby agree as fol-
   lows!

        (1) The Mountain Fund does hereby lease, let, demise
   and set, over unto The University, on the terms, to the pur-
   poses and upon the conditions hereinafter named, all the
   lands aforesaid and hereinafter described, tracts
   and          thereof to be utilized for purposes of re-
   forestration and the practical demonstrating and teaching
   thereof;         tracts         and            foar the pur-
   pose of farm experimental work and teaching, together with
   the full, unrestricted possession, use, central and manage-
   ment of said several tracts in as full manner and as com-
   pletely as if the fee simple title therto were hereby con-
   veyed.   It is not intended hereby that The University shall
   be limited or restricted strictly to the manner of use of
   either or any of said tracts of land, but observing the
   purposes herein expressed in the main, such deviation from
   or alteration of plans and uses of said tracts or any of
   them as may be deemed expedient by The University is al-
   lowed.

        The term of said leqse is seventy-five years with privi-
  lege o.f renewal by The University upon such terms as may be
  recommended by the Joint executive board hereinafter named.
  Provided, howdver, either party may, upon three years' notice




 








to the other in writing, terminate this lease if it shall be
found that the purposes of this conveyance are not being
executed in their spirit.

      (2) The University will institute and maintain upon
said lands such model farm or farms, orchards end such ex-
perimental research in agriculture as rmay be within its
judgment, to the end that practical demonstration, study
and work in operating fprms in the mountain region so as
to conserve tho 'soil fertility, add to it, utilize the re-
sources of the region most profitably and practically.

      (3) The University may institute and maintain in coop-
eration with local school authority State Vocational Educa-
tional B'ducation Board upon or in the vicinity of said lands,
one or more model schools of the grade at least of common
schools of the Kentucky public school system.   This pro-
vision may be satisfied by utilizing existing or other of
the common Rraded high or consolidated schools of the coun-
ties wherein said land or some part of it is located, sup-
plemented as may be deemed expedient by The University, and
'under such arrangement with the local boards of education or
any successor thereof as The University may be able to ar-
range for.

      (4) The IMJountain Fund will appropriate to The Univer-
 sity not exceeding ten thousand dollars (O'10,000) the first
 year and such sums as it may deem expedient thereafter, to
 carry out the purposes of this agreement and as aid in its
 extension educational and experimental work aforesaid in
 said region, upon condition that The University provides or
 applies at least ten thousand dollars ($l1O,000 a year for
 such work.

      (5) The administration of the work herein provided shall
be exclusively under the control of The University, which
may cooperate with such agencies or aids as it may see fit
to employ.   Provided, a Joint board shall be formed con-
sisting of six members, is hereby provided three of whom
shall be named annually by and from the Board of Trustees
af The University and three named annually by and from the
Board of Trustees of The Mountain Fund.   The President of
The University shall be Chairman ex officio of said board,
without vote.   The joint Board shall recommend to The Uni-
vecsity the course of development and execution of the gen-
eral as .vell as specific plans of the work herein contem-
plated.   INo general plan or annual budget for said work
shall be adopted without the concurrence of at least four
of said joint board,

      (6) Income obtained from the operation and development
'I the properties under the direction of The University shall




 






4.



   be used, by The University to promote experimental and demon-
   stration work in agriculture an& forestry and to meet the
   expenses of the operation of this project.

   1   (7y' This agreement shall become effective from this
   *.;ate, upon ratification by the Boards of Trustees of the
   parties hereto.

        (8) The lands herein leased are particularly described
   as follows:  (Here insert.)   The Movntain Fund does not
   warrant the title to the property hereby conveyed or any of
   it, and conveys same subject to such reservations respect-
   ing the title to said lands as may be contained in the deesd.
   to The Mountain Fund therefor, and subject to such convey-
   ances as it may have made of record.

                                (Signed)
      For The 'University          For E. 0. Robinson Mountain- Fund
        Frank 1. MoVey               E. C. O'Rear
        Thomas P. Cooper             C. Y. Manning,

     After discussion, a motion was made by Mr. McKee, seconded-by
Senator Froman, and uanaimously adopted, authorizing the chairman.
of the Executive Committee to appoint a committee to execute a
contract, drawn in accordance with the report of the committee as
outlined above, for and on behalf of the University.

     In accordance with the provision of the agreement between the
Mountain Fund and the University for the creation of a board to
carry on the work as provided in the agreement, Messrs Stoll, Gor-
don and Froman were elected to act as members of the Board on be,-
half of the Universkty.

     WVhereupon a meeting of the Board of the E. 0. Robinson Moun-
tain Fund was held, and a motion was made, seconded and carried,
authorizing the President and   Secretary of the E. 0. Robinson
Mountain Fund to execute an agreement for and on behalf of that
organi zation.

     (5) Patterson Residence.   President McVey stated tha-t Mr.. C,
IN. Manning, President of the Security Trust Company, and execuvto
Af the estate of the late James K. Patterson, had called on him and
stated that Walter K. Patterson desired to request a recons-ldeara-
tion by the Board of the use of the Patterson residence, and some
means be found by which he may continue to occupy a part of the
hjuse.   It was the opinion of the members present that the house
is badly needed. by the University find that it would not be in th6
csst interests of the Institution to permit it'ito continue to be
o3cupiod b:, Mr. Patterson.

     '6) Alumni Election.   President McVey reported to the Board
that under the statutes it is necessary that an Alumni election:.Ibe.




 







5 .



held during the coming summer to nominate and elect a member who
shall take the place of Mr. J. I. Lyle, whose term of office ex-
pires in January, 1924.   He stated that the Executive Committee
at its previous meeting had authorized the Secretary to prepare
the forms and issue the call for the election.

     (7) Insurance on Buildings.   President CA.Vey stated to the
Board that an investigation had been made by members of a committee
appointed for the purpose of considering the advisability of
changing the insurance on buildings.   He summarized the situa-
tion as follows:  (a) On April 16, insurance rates in Lexington
will be increased 3%.   (b7) One insurance company doing business
in Kentucky makes the statement that the rerating shortly to be
made in Lexinmton will make an increase of from 15% to 46% in in-
surance  rates.   (c) Under the aoAnsurance plan a revaluation
would have to be made and the raise necessitated would be t159,O0 ,
in order to raise the valuation of buildings from an 8"o to a 90%
basis.   (d) The premium under a coinsurance plan would be $5,200
less than under the present rating, over a period of five years.
(a) The University has a credit of two years on the present pre-
mium paid two years ago.    (f) T'he actual cost of coinsurance for
five years would be $26,800.   Deducting the credit given for the
premium already paid, the actual cost necessary to extend insurance
over a five year period would be between $814,OOO and $17,000O
(g) If any change in the plan of insurance is going to be made, it
is necessary to do it at once before any changes are made in the
retes.   (hl At the present time the University carries insurance
in the amount of 1$85'7,BOO.  The nfew valuation necessary would
place the amount of insurance at approximately 1,016 ,800.    By
changing the insurance new, we should have a net saving of about
$55,200 over a period of five years.

     The matter was dis cussed at length.   A motion was made by
Mr. Lyle, duly seconded, ded adopted authorizing the President to
place insurance on buildings on a 90% coinsurance basis, for a
period of five years.

     (8) RevaluatioA of Buildings.  The Board then discussed the
matter of revaluation of buildings.    The point was made that in
order to get coinsurance it is necessary to get a valuation-made
by some concern whose valuation would be accepted by the insurance
companies.   A motton was made, seconded, and adopted, authoriz-
ing that a revaluation be made by Combs Lumber Company of Lexing-
ton, Kentucky.

     (9) The Budget for 1923-1924.   President MeVey presented to
the Board the University budget for 1923-1924, aend stated that the
bud-et amounted to approximately the same as for the fiscal year
just closing.   The budget was examined by the Board.    After
slight adjustments, a motion was made, seconded, and adopted, ap-
proving the budget as presented.    (The budget is published as a




 







6 .



supplement to these minutes.   Copies are furnished to members of
the Board.   Deans and heads of departments are furnished with
such portions thereof as pertain to their respective colleges or
departments.)

     (lo) Application of Phi Delta Theta Fraternity for Build.inR
Site.  Mr. Harvey S. Ilincks, Instructor in English, appeared be-
fore the Board to present an application of the Phi Delta Theta.
Fraternity for a building site on Winslow Street.   On motion, duly
seconded, the matter of a site and the form of lease, was re-
ferred to the President with power to act.   (The lease, when ex-
ecuted. will be reported to the Board and incorporated in the min-
ut3Ses)

     (11) Report of the Business Agent.   T)'e report of the Basis
ness Agent was presented and ordered incorporated in the minutes.
The report was as follows;

                                      April 13, 1923

  Dr. Frank S. M.IcVey
        University of Kentucky
             Lexington, Kentucky

  Dear Doctor McVey:

        I submit herewith financial report in part - "Statement
  of Income and Expenditures to date."

                                      Very truly yours

                                         D. H. Peak



Business Agent




 






7 .



Statement of Income and Expenaitures
      month of MITir.h, l923



                                 Previously
                                 Reported

General Fund Income
Federal Appropriation          42,750.00
Vocational Education Board      6,890.50
General Education Board         2,950.00
Special Agri~cultural Appro.   18,166.19
State Tax                     347,179.25
Interest on Liberty Bonds         850.00
Interest on  ado-ment Bonds     8,644.50
Student Fees                   42'176.87
Student Feew - Veterans Bureau 15,445.99
Student Fees - Summer School    7,028.00
Student Fees - University Ex-
    tension                       3,819.65
 Student Fees  _Practice School  3,570.00



Miseellet4:s- Receipts
Re--tals
                    Total



Expanditure s
  InstructS on
  Administration Hxpense
  Additions anid Betterments
                   IDotal



1,246.49

501, 867. 84


262,584.00
71,736.35
111,148*57
345, 468 92



Current
M.1ont h



Fiscal
Year
To Date



           42,750.00
           6,890.50
           2,950.00
           18,166.19
6,447.15 c 353,626.40
              850.00
            8,644.50
   83.88   42,260.75
3,156.76   18,602.75
  977.38    8,005358



1,341.11
   S 5.00
   228. 75

12, 254 .03


36,645.02
10,310.65
18110 .258
48, 066.025



5,160.76
3,575.00
, 4VS.*24
_.,164,40
514,121.87

299,229.02
824047.00
3129259.17
393,535.17



Excess of Income over ft-
penditures



(35,812.22) 120,586.70



Pattexosan Hall Income
  Board
  Room Rent - Summer School
  Miscellaneous Receipts
                 Total

Expendi tures
  B:pense
  Additions and Betterments
                  Total

  Excess of Income over Exp-
    penditures

  General Fund Income
  General Fund Expenditures



32, 364.44
1,791.00

34,155.44


22,277 .13
1,385,35
23,662.48


10.492 .96

536,023.28
369 .131.40



268.95   32,633o39
          1,791.00
  8.50        8.50
277.45   34,432.89



3,763.80

3,763.80



26,040.93
1,, 385,35
27,426 .28



t3,486,3-5_ ? 1066

12,531.48  548,554.76
51Q830.05 420,961. 46




 







8 .



2reviovs1y  Current
Reportedd   Month



1cess of General F    Incoms
  ov-er Expenditures

EXcess of Expenditures over
  Receipts for General Ledger
  Accounts



166,891.88 (39,298.57) 127,593.31



i(2.~37.94)   (219,84)  (27 .557.78,'



Excess of Receipts over Ex-
  penditures for the fiscal
  year to date - General Fund 139,553.94  (39.518.41) 100,035,53



  Excess of Receipts over Ex-
    penditures for the fiscal
    year to date - General I'und
  Cash in Bank July 1, 1922 -
     General Fund
  Cash in Bank March 31, 1923 -
     General Fund

Trust Fund Income
  Bennett Prize
  Crum Prize
  Student loan Fund
  Special Scholarships
  Civilian Rehabilitation Fund
                 Total Income
  Student Fotes Paid
                 Total Receipts



Nxpenditures
  Expense
  Student Votes



100,035.53

(75,423.41)

24,612,12



   40 . 00
   60.06
2,2730.95
1,250.00
  220.60
3,944.61
2, 530.o883
6,4h75.49



                  1,452,94
                  4,470.00
Total             5,922.94



153.41
  300.00
  80.61
  534.02
  842.50
1,376.52


   84.44
3,320,00
3.404. 44



  40.00
  60,Q6
2,527.36
1,550.00
  301 *2
4,478.63
3. 373.38
7*852.01


1,537.38
7,790.00
9 327.38



Excess of Expenditures over
  Receipts



. 552.55   (2$027.92)



(17A.5.37)



  Excess of Expenditures over
     Receipts for the fiscal year
     to date - Trust Fund
  Cash in Bank July 1, 1922 -
     Trust Pund
  Cash In Bank March 31, 1923 - Trust Fund.

Experiment Station Income
  Hatch - Federal Appropriation   11,250.00
  Milk and Butter - Cash Receipts 9,017.57



           (1,475.37)

           ,1.324.78
             _ 50.59 )


           11,250.00
1,197.71   10,215.28



Fiscal
Year
To Date




 











Beef Cattle Salas
Dairy Cettle Sal7es
Sheep Sales
Swine  al es
Poultry Sales
Farm Produce Sale.
Horticultural Sales
Seed Test
Rent al a
Miscellaneous
Fertilizer - Fees
Public Service - atate Appro.
Feeding Stuffs - Fees
Adams - Federal Appro.
Serum-Sales
Serum - Virus Sales
Serum - Live Stock
Serum   Supply Sales
SerAm - Miscellaneous
State Appropriation
Creamery - License Fees
Creamery - Testerst Licenses
Creamery   Glassware Tested
%entucky Jockey Club
                  Total



Bxp end iture s
  Expense
  Additions end Betterments
                    Total
  Excess of :Expenditures over
     Incom e



Previously
Reportsd

  1,959.30
    475.00
    422.09
    790.91
  1907.11
  1, 212.07
    993.68
    56.00
  2,835.33
  1,0771-31
  18, 561 25
  6,000.00
  33, 489f,25
  11 250.00
  6,645e92
    247,70
    56.00
    105 .05
    33.18
 29,535.19
 2,146350
    712.50
    209 .58
  5 90008.00
_4615 9 4



144,809.09
  2 2,215!06
147,024.15



Current
Month

&,703.17
    25.00


    2? 3.36
    559.70

    3.00
  1.7o67
    50.80
 5,752.50

 5,440.50

 1,097.70
    45.90

    6.65


    3e00
    26.00
    38.64

17. 341.30



19,102.98
    57.38
19,160.36



Fiscal
Year
T o Dat.e

  4,662.47
    500.00
    422.09
    790.91
  2,180.47
  1,771.77
    993.68
    59.00
  2,953.00
  1,128.11
  249313.75
  6,000.00
  38,929.75
  11 250.00
  7, 743.62
    293.60
    56.00
    111.70
    33.18
 29, 535e19
 2,149,50
    738.50
    248.22
  5 0G0.00
163, 329 .79



163,912.07
  2,272.44
166,184.51

(2,854.72)



  Excess of Expenditures over In-
     come for the fiscal year to
     date - Experiment Station
  Cash in Bank July 1, 1922 -
     Experiment Station
  Cash in Bank March 31, 1923 -
     Experiment Station

Extension Division
Federal Smith-Lever             152,241.30
PIederal Supplementary           45 ,100.93
  State Smith-Lever                57 292, 24
  County and Other                  3 424.65
                 Total           2581059,12



(2,854.72)

39,478.62

36,6234 90



          152,241.30
          45,100.93
          57,292.24
 244*60     3,669.25
.244.60   258 .303,72f



- (1,035.66) (1.819.06)




 




10.



Previously Current
Roport3d   Month



Expenditure :
Expense



199 334.85  24 884e55



Fiacal
Yeer
To Date


224,219.40



Bxcose of Income over Expendi-
  tures

Excess of Income over Expendi-
  tures for the fiscal year to
  date - Extension Division
Oauh in B2nk July 1, 1922 -
  Extension Division
Cash in Bank March 31, 1923 -
  Extension Division

Summary
  General F'nd Income
  Trust, Fund Income
  Experiment Station Income
  Extension Division Income
                     To tal

 General Fund Expenditures
 Trust Fund Expanditures
 Experiment Station hxpendi-
   tures
   Extension Division Expendi-
   tures
                   Total



58  2Z.   (24$639.95)



34,084.32

  615,31

34,699 63



536,023. 28
  3,944.61
145,988.49
258,059.12
944.015.50

369 ,131.40
  1,452.94

147,024.15

199 .334.85
716 .943.34



12,531.48
   534,02
17,341.30
   244.60
30,651*40

51,830.05
    84.44

19,160.36

24,884,55
95, 9 9,.40



548,554h76
  4,478.63
163, 329.79
258,303.72
974,666.90

420,961.45
  1,537.38

166,184.51

224,219.40
812, 902*74



Nxcess cyt.Income over Ex
penditures

EXcess of Expenditures over
  Receipts Tor General Ledger
  Accounts

Student Notes

Excess of Receipts over Ex-
penditures - Combined Fund

EXceSS Of Receipts over Ex-



227,072.16 (65,308.00)



(24,807.06)



161,764.16



622.66   (24,1841.40)



(4.470Q00 ) (3,320.00)


19 7, 79 5.!1   ( 68,005.*34 )



penditures for the fiscal year
to date - Combined Fund
Cash in Bank and on hand July 1, 1922 -
  Combined Fund
Cash in Bank and on hand March 31, 1923 -
  Combined Fund



(7,790.00)


129,789.76



129,789.76

(32,504.70)

, 97. 285 .06



'Vihereupon the Board adjourned.

                            -RFrvn.4T-h1t l y submi tt :i




 



Missing report(s)