Minutes of the regular monthly meeting of the Executive Committee of the
Board of Trustees, University of Kentucky, for Wednesday, November 16, 1921.



     The Executive Committee of the Board of Trustees of the University of
Kentucky met in regular monthly session on Wednesday, November 16, 1921 at
11:30 a. m. in the President's office at the University.   The following
members were present: Robert C. Gordon, P. P. Johnston, Jr.    Frank L.
McVey, President of the lnitorsity and Wellington Patrick, Secretary of the
Board were also present.   The meeting was called to order by Mr. Gcrdon
who stated that the action of the Committee would be subject to approval
by the Executive Committee and Board at subsequent meetings.

     The minutes of the previous meeting of the Executive Committee were
approved as published.

     (1) Audit of University's Books. President MoVey reported that the
audit of the accounts of the University by Marwick, Mitchell Company had been
finally submitted.   The report of the audit was examined by the Committee
and referred to the next meeting of the Board of Trustees for consideration.

     (2) Financial Report of Business Agent- The report of the Business
Agent was presented by President MoVey, read and ordered filed.

     (3) Insurance on New Dormitory. Presidlent McoVey reported to the Com-
mittee that the Business Agent had placed a binder for insurance on the new
dormitory pending the meeting of the Executive Committee.   Superintendent
Whipple appeared before the Committee to make a statement regarding the
insurance.   On motion duly made and seconded, the President wa, ccuijierized
to take out $100,000 in insurance on the dormitory.

     (4) Loan of $50,000 to Meet November Pay Roll. A statement was read
from the Business Agent indicating that it Would be necessary to borrow an
additional Sam of $50,000 in order to meet the November pay roll.    On
motion duly made and seconded it eras ordered tha4 the Business Agent be
authorized to borrow such sum in the usual manner,

     (5) Mr. Treacy's Report on the  oegro Church. A communication from B.J.
Treacy with respect to the purchase of the Negro church on Winslow Street
was read and incorporated in the minutes.   The report was as follows:

                                                November 12, 1921

     Mr. D. H. Peak, Business Agent
          University of Kentucky
               Lexingtoin, Kenilcky

     Dear Mir. Pea k:

          After many Conferences and rrzufh &clay I have suicceeded in
     getting a price ol: $8,00( OCpDton the church property on th e north
     side of Winslow Street owned by the Consolidated Bapttit Churba-
     they to have the right to use the* property until Junre 1, 1922,
     at which time they propose to va(ate if the property is sold.