2z.



    Patterson Librarv. Professor Patterson reports that
the $600 fire insurance policy on the Patterson Library will
expire Jn July.  Please recommend what shall be done as to
further insurance on that library.

    Deposits. A loss of probably $200 results each year on
account of the failure of students in military department to
return clothing issued to them.   We have endeavored to pr'e-
vent this loss by requiring bond to be executed by the stu-
Thnt with parent or guardian as security.   1 think the bond
svstem is not successful.   The bonds must be mailed to
parents for signature and more than ten per cent of those
mailed are never returned.   Students quit school and throw
the uniforms down in their rooms, depending on roommates to
return them or the clothing is taken away by the student,
and even if we have the bond there is great difficulty in
getting the clothing or its equivalent in cash.   The value
of complete uniform is $15.89.   I think- a cash deposit of
$15 should be required.   In fact I am convinced that it is
the only thing that may be done to Prevent loss.   I ask
that an order be made, requiring a cash deposit on issuance
of military uniform to a student.

     Audit.  I call your attention to my letter of March 26,
1924, regarding audit of this year's accoi-;1ts.

     Insurance.  What further action do you wish taken on
the insurance on basketball building?   We now have a binder
thereon, as I am informed by Klair and Scott, for $50,000.

     I also call your attention to the compensation insurance,
the policy expiring April 4, 1924.

     Our insurance policies read, "the University of Kentucky
and the State of Kentucky as their interests may appear." In
event a building should be totally destroyed, could the Uni-
versity use the insurance for any purpose except to rebuild
that particular building?   It may be well to consult lawyers
on the board ir, regard to this.

     LMraxwxell Ha-l.  A. O. Gregor offers to sell Maxwell Hall
to the University at $12,000.   I believe he will take less.
I believe it can be bought for $10,000.   Mr. Tlhippie and I
have inspected the property.   while it adjoins Patterson
Hall lot, we see no special advantage on that account.    It
will cost $3,000 or more to repair, redecorate and furnish
the hall.   Our opinion is that it is not advisable to pur-
c'ase the property.

                                  Very truly,

                                     D. H. Peak
                                       Business Agent