Minutes of the Iemlujpr Monthl7 Meeting of the B Ocutive
Tommittee fo- Fri~iP, J ..nupry 26, 1.923.

     The executive 'owmittee of "he Board of O2rusfees ff th3 Uni-
're-sity of Kentucky met in reqguitr monthly session in th3 2rssiaoit1c
office Pt the University ft 11:30 a. m0, 1'riday, Jrnu;_5,ry 26, .923.
The follo.ing persons pssre present: Julge Aichsra C. Stoll,
Superinqendent George Colvi.n, Senstor H.1. Troman, President rspnk
7. iTcfley end Well1ington Petrick, Secretary of the Boerd.

     The minutes of the preiious meeting mare approved as publidh3dr.

     1. ." Iojtrsct with X.-mndaorf Coal and ?eed gompny.
l1Mr. J. J. Ryley, President , nnd  tr. 0iitan, )3critpry o? thle E-
mendorf CO-I -nl ' aed Oom,-;ny, cra~;raed before -she zxecutire Comrnit -
tsa to rmrk-i a statgrient raerdinr  the cosl contract which had been
discussed in the Yolremnbar menatinR of the Boord.  Mr. Rylsy urged
the '..ecutive Zommnrittie to nccds5 to the point 1rhich he h.d brought
up in his communication in rOva.mber.  He was --,dvised by the Commit-
te3 thFt inasmuch as the matter hed been passed on at a full meet-
ing of  t  Bo;'rd in Dec3mb -r thst it w-as not po-- sibl3 for the .x-
scUtive Committe9 to t:-h3 tction. !T t, S sugested to him that
if he wanted a reconsid,3rtion of tha matter that he praptre a
str t-3ment to be praesnt3d to ths Borrd of rust3ees  t its regulsr
qu.- rt3orly mesting in April.

     2.  Rsoort of -,;hs Business Azont.  The report of the Business
(zont wes received and presertead by the3 -'r 9i.ient  Tha report was
Fs 0ol1o0.s:

                                             J&nupry 16, 1923



     Dr Fr.rnk L. .{c&Tey
          University ,2 Eemtuucky
               Lexino.Jtor;, Lentucky

     Dea.r Doctor 'MIcVey:

          Attiched, I.. -n estimrc--e of racei-ts and disburse-
     ments for the year, 1922-.1923.

          In this estimai;9 the State tax e-, mv te is based
     on last year' rseeipts.    ..I o-inion is that the re-
     csipts will be lErser thsn those of last year, but I
     do nht thl ink it -.1se to make a 'i:Lrqer estimasts. T'he
     Binsrhem inheritance tex is not consideraed in meking
     the estimate.

          r:he estim-3 of rseceit!s from Vocational 3&uoation
     Bovrd is reduced from that imade in ths Budqe .