xt76t14tj561 https://nyx.uky.edu/dips/xt76t14tj561/data/mets.xml Lexington, Kentucky University of Kentucky 19390118 minutes English University of Kentucky This digital resource may be freely searched and displayed.  Permission must be received for subsequent distribution in print or electronically.  Physical rights are retained by the owning repository.  Copyright is retained in accordance with U. S. copyright laws.  For information about permissions to reproduce or publish, contact the Special Collections Research Center. Minutes of the University of Kentucky Board of Trustees Minutes of the University of Kentucky Board of Trustees, 1939-01-jan18-ec. text Minutes of the University of Kentucky Board of Trustees, 1939-01-jan18-ec. 1939 2011 true xt76t14tj561 section xt76t14tj561 


Irregularities




 








     Minutes of the Regular Meeting of the Executive Committee of
the Board of Trustees of the University of Kentucky, January 18,
1939.


     The Executive Committee of the Board of Trustees of the
University of Kentucky met in President McVey's office at the
University Wednesday, January 18, 1939, at 10:00 a.m. The mem-
bers of the Committee present were Judge Richard C. Stoll,
;hairman; James Park, H. S. Cleveland and D. D. Stewart. Pres-
ident Frank L. McVey and D. H. Peak, Secretary of the Board,
were present.


     1. Apnroval of Minute-,

     The minutes of the meeting of the Executive Committee of
November 3, 1939, were approved as published.


     2. Financial Report.

     The Business Agent filed financial report for month of De-
cember, 1938.   The report was examined and ordered recorded
in the minutes.   The report reads as follows:



            Statement of Income and Expenditures
                    Month of December 1938



                             Previously
                             Reported

General Rund Income
  Fed. Appro.-Morrill-Nelson  18,354.99
  Vocational Ed. Board         12,354.60
  State Appro.-Summer School.   8,000 00
  Special Agr. Appropriation   10,000.00
  State Appro.-General        295,381,84
  Bldg. Revenue Bond & Op-
    eration Fund               38,090.90
  State Appro.-Repairs to
    Buildings                   8,905.38
  Federal Appro. -Bankhead-
    Jones                      11,770.48
  Student Fees                 98,586.64
  Student Fees - Summer Sch.   63,617.59
  Student Fees - U.H.S.         4,930,00
  Student Fees - El.Tr.Sch.     3,820.00
  Student Fees - U. Exten.      7,414.70



Current
Month



6,118.33
3,378.85

2,000.00
57,780.43

2,167.50

   769.66

 3,867.49
   162,.80

   300.00
   100.00
   729.67



Fiscal
Year
to Date



24,472.32
15,733.45
8,000,00
12,000.00
353,162.27

40,258.40

  9,675.04

  15,637.97
  98,749.44
  63,617.59
  5,230.00
  3,920.00
  8,144.37




 








2.



  Miscellaneous Receipts
  Rentals
  Ments Dormitories
  Library Equip.-Appro.
  Scientific & Laboratory
    Equip. Appro.
  Engineering Equipment-
    Appro.
            Total
Expenditures
  Instruction
  Adm.,Exp. and Maint.
  Additions and Better.
            Total
  Excess of Expenditures
    over Income
Patterson Hall Income
  Board
  miscellaneous Receints
  Room Rent-Summer School
            Total



3,062.23
  713.65
9,369.05
7,986.42

13,354.87



470.84
235.00
452.55
684.26

3,980.64



3,533.07
  948.65
9,821.60
8,670.68

17,335.51



10,583.95     9,117.79     19j,701.74
626,297.29    92,315.81    718,613.10

381,571.08    88,943.34    470,514.42
173,079.85    33,249.62    206,329.47
34,352.76    16 179.18     50,531.94
589,003.69   138,372.].4   727,375.83

37,293.60   (46,056.33 3   (8,762.73)

30,503.10       662.25     31,165.35
     12.80        79.35         92.15
  1,839_ 50             _    1,839.50
  32,355.40       741.60     33,097.00



Expenditures
  Expense                   12,319.47
  Additions and Betterments 1,773.99



            Total
 Excess of Income over
    Expenditures
General Fund Income
General Fund Expenditures
  Excess of General Fund
    Income over Expend.
  Excess of Receipts over
    Expenditures for Gen-
    eral Ledger accounts
  Accounts Payable
  Excess of Receipts over
  Expenditures for the
  fiscal year to date -
  General Fund



Excess of Receipts over
Expenditures for the fis-
cal year to date-General
Fund
Cash in Bank July 1, 1938 -
General Fund
Cash in Bank December 31, 1938 -
General Fund



4,009.19
  634.50



16,328.66
2.408.49



   14,093 46     4,643.69     18,737.15

   18,261.94  _  3p2.09)      1      8
   658,652.69    93,057.41    751,710.10
,603,097.15    143.015.83    746,112,98

   55,555.54   (49,958.42)     5,597.12


   (38,261.32)   62,663.78     24,402.46
   (9,302.96)      _          (9,302,96)



   71991.26  _12,705,36      20,696.62



20,696.62

84, 428. 52



103,125,14




 





3.



Experiment Station Income
  Hatch - Federal Appro.
  Milk and Butter - Cash Rec.
  Beef Cattle Sales
  Dairy Cattle Sales
  Sheep Sales
  Swine Sales
  Poultry Sales
  Farm Produce Sales
  Horticultural Sales
  Seed Test
  Seed inspection
  Rentals
  Miscellaneous
  Fertilizer - Fees
  Public Service - State Appro,
  Public Service - Misc.Rec.
  Feeding Stuffs - Fees
  Adams - Fed. Appro.
  Serum - Sales
  Serum - Virus Sales
  Serum - Supply Sales
  Horticultural Appropriation
  State Appropriation
  Creamery - License Fees
  Creamery  Testers Licenses
  Creamery - Glassware Tested
  Robinson - State Appro.
  Robinson - Misc. Receipts
  West Ky.-State Appro.
  West Ky.-Misc.Receipts
  Purnell-Federal Appro.
1Bankhead-Jones--Fed. Appro.
  Nursery Inspection-State Ap.
  Nursery Inspection-Fees
            Total
Expenditures
  Expense
  Additions & Betterments



7,500,00
4,993.85
  164.00
  700.00
  356.98
1,311.06
  703. 69
  414.04
  760.75
  569.80
9,313,96
  673. 35
  297. 54
9,170.00
e8,227,23
  188.30
21,434.72
7,500.00
1,220.66
   42. 90
   22.40
3,330. 94
22,249.87
8,387.50
2,163. 66
  242.84
  5,760.22
  1,638.93
  6,736. 41
  1,734.70
30,000.00
34,535. 39
   861, 64
 1.350.00



878.83
781. 16
310.00
485, 73
  78.99
  228.88
  195.74
  (20.00)
  225.92
  880. 56
2 , 139.05
   36.80
   157.00
1,796.29

4,185.75

   93.01
   5.40
   27.00
   395.00
1,690.79
   10.50
   22. 50
   38.88
   6'97.05
   526.92
   213. 55
   239.00



138,36



7, 500. 00
5, 872. 68
  945.16
1,010.00
  842,71
1,390.05
  932. 57
  609.78
  740.75
  787,72
10,19-4.52
2,812.40
   334.34
 9,327.00
 10,023.52
   188. 30
25,620.47
7,500.00
1,313.69
    48.30
    49.40
 3,725,94
 23,940. 66
 8,398.00
 2,186,16
   281.72
 6,457*27
 2,165.85
 6,949.96
 1 973, 70
 30,000.00
 34,535.39
 1 9000.00
 1,350.00



94,549.35    16j458.66  211,008.01

L60,139.61   32,151.39  192,291.00
2,426.50         2.14_ 2,428.64



          Total            195661        32 153.53  194,719.64
Excess of Income over Ex-
  penditures                31,983.24   (15,694.87) 16,288.37
Accounts Payable            (8,853.98)                (8,853.98)
Excess of Expenditures over
  Receipts for General
  Ledger accounts            2,356.27    (3,200.04)      (84.3.77)
Excess of Receiuts over Ex-
  penditures                25X485.53   (18,894.91)   65062
Excess of Receipts over Ex-
  penditures for the fiscal
  year to date - Experiment
  Station                                              6,590.62
Cash In Bank July 1, 1938 - Experiment Station       31l,51975
Cash in Dank Decemaber 31, 1938 - Experiment Station   38, ]_. 37




 






4.



Extension Division Income
  Federal Barnkhead-Jones
  Federal Smith-Lever
  Federal Supplementary
  Federal Capper-Ketcham
  State Smith-Lever
  County and Othler
       Tot al

Expenditures
  Exn ense



Excess of Income over Ex-
penditures



202,585.34
74,154.38
  6,656.39
  18,400.48
  50,445.40
  9 028.08



9,514.46
1,687. 68



202,585.34
74,15 .538
  6,656.59
  18,400.48
  59,961.86
  10,715,76



361,250,07    11,201.14  372,454.2-1


283,468.21    62,568.47  346,036.68



77,781.86



(51,364.33)



Excess of Income over Ex-
pendLtures for the fiscal
year to date - Extension
Division
Cash in Bank July 1, 1938 -
Extension Division
Cash in Bank December 31, 1938 -
Extension Division



Trust Fund Income
  Student Loan Fund
  Student Notes Paid
        Total Receipts

Expenditures
  General Ledger accounts
  Student Notes
     Total Expenditures



704.78
1,155.63
1,860,46



43.96
234. 93
278.89



7,500.00
  175.00
7,675.00



26,417.53



26,417.53

2,688.11



29,105.64



748,74
1,390.61
2,139,35



7,500.00
175.00
7,675.00



Excess of Exnenditures over
Receipts                  (5,814.54)



Excess of Expenditures over
  Receints for the fiscal year
  to date - Trust Fund
  Cash in Bank July 1, 1938 - Trust Fund
  Cash in Bank Decem-ber 31, 1938 - Trust

Summary
  General Fund Income       658,652.69
  Experiment Station Income 194,549.35
  Extension Division Income 361,250.07
  Trust Fund Income             704.78
              Total       1,215,156 89



278.89   (5.535. 65)



(5,535.65)
9,578.5.7
.- _ _4



93,057.41 751,710.10
16,458.66 211,008.01
11,204,14 372,454.21
    43.96      74_ ,4___
120,764.17 1,335,9210



General Fund Expend.
Lxperiment Sta. Expend,
Extension Div. Expend.
            Total



603,097.15
162,566.11
1 283, 468. 21



143,015.83 746,112).8
32,153.53 194,719.64
62,568.47 346,036.68
237,737.83 1,286,869.hO




 










Excess of Income over Exoendi-
tures                        166,025.42



(116,975.66) 49,051,76



Excess of Receints over Ex-
penditures for General
Ledger accounts

Accounts Payable



(43,405.05)

(18,156.94)



59,463.74



16,058.69

(18,156.94)



Student Loan Fund Notes



980.68



Excess of Receiots over Exnendi-
tures for the fiscal year to
date,-Combined Fund         105.444.11



Excess of Receipts over Expendi-
tures for the Fiscal year to
date - Combined Fund
Cash in Bank and on hand July 1, 1938-
Combined Fund
Cash in Bank and on hand December 31,1938-
Combined Fund





                  Abstract of item shown on
                  Statement of Income and Ex-
                  penditures as "Excess of
                  Receipts over Expenditures
                  for General Ledger accounts
                  $16,058.69',


                             Debit



Accounts Receivable



234.93    1,215.61



(57.274.99) 48.169-12



48,169.12

128,414.55



Credit



12,207.14



Sundry accounts



28,265,83



12,207.14



28,265.83
12207. 14
16,058.69




 









6.



     3. Requisition Committee Report.

     The Requisition Committee filed written report of its action
each week from December 8, 1938, to January 4, 1939.   The report
showed orders made by the Business Office on authority of the Reaui-
sition Committee in the manner Prescribed by the Board of Trustees
and State Laws, running from No. 4509 to No. 5070.   The report
was exa-m.ined and on motion and second, the orders named therein
were ratified and apnroved and payments on said orders were author-
ized and aoproved.   The following budget additions were an-roved:
Publicity, .8827.02, .24.25 and 878.42, work on new Radio Station;
MicVey Hall, $120.00; Memorial Hall, $23.75.


     4, Income and Exuenditures.

     The following statement of income and expenditures and estimat-
ed income and expenditures was presented by the Business Agent.


                    UNIVERSITY OF KENTUCKY

     General Fund Income and Expenditures from July 1, 1938
     to December 31, 1938, and estimated Income and Expendi-
     tures from January 1, 1939 to June 30, 1939.   (Exclusive
     of Svecial Appropriations).

     Income from July 1, 1938 to Deceimber
         31, 1938 ---                       672,905.17

     Estimated Income from January 1,
         1939 to June 30, 1939 ---          735,420.66
                                                         1,40B,325.83

     Expenditures from July 1, 1938 to
         December 31, 1938 ---------------  681,667.40

     Estimated Expenditures from January
         1, 1939 to June 30, 1939 --------  722,291.93
         (Including Encumbrances)                       1,403,9 59. 83

              Excess of Income over Ex-
                nenditures                                   4,366.00




 







7.



     5, Reioort of Student Loan Fund.

     The following report of Student Loan Fund was received and
ordered inserted in the minutes:

     a.            REPORT STUDENT LOAN FUND

Investments
   Postal Savings Bonds, ten $1000.00 bonds,
     Nos. 17963111 to 17963120, Series
     dated November 1938                               $7500.00

   Postal Savings Bonds, ten $1000.00 bonds,
     Nos. 86366 to 86375, Series D, dated
     January 1939                                       7500.00

   United States Treasury 21s ten $1000.00
     bonds                                 $10385.07
   Less Premium 290.63; Commission
     $12.50; accrued interest -81.94          385.07  10000.00

   First Federal Savings and Loan Asso.,
     Lexington, Ky., Certificate No.                   5000.00
     Rate of 4 Der cent

   Lexington Federal Saving and Loan Asso.,
     Lexington, Ky., Certificate No.                    5000.00

   Savings Deposit, First National Bank and
     Trust Company, Lexington, Ky.                      3869,08
                                                       38869.08

   Cash in Bank January 1, 1939 - Less obli- 1042.50
     gations to University of Kentucky
     Woman's Club                             400.00     642.50

   Student Notes                                       13315.41
                                                        52826.99


     All securities except student notes are in the hands
     of the Custodians of Securities.     The student notes
     are on file in Ousiness Office, except those in Orocess
     of collection by attorney,   I attach a statement of
     Dean T. T. Jones, estimating value of student notes,
     which I think is approximately correct.



D. H. Peak
Business Agent.




 





i.



b. Letter from the Chairman, Student Loan Fund Committee.


                              January 18, 1939


Mr. D. H. Peak
Business Office
University of Kentucky

Dear Ivy. Peak:

     In the collection of student loan notes now i2
the sixth year we have found many that seem uncol-
lectable.

     We have turned over to Attorney Grover Thompson
a number of the notes for collection and we shall oon-
tinue to turn over others in cases where no response
is made to our letters.   At nresent we are sending out
about 100 letters each month to debtors, making appeals
for payment.   I may say that practically all our col-
lections have been in small morthly payments. This list
of 100 constitutes about all from whom we have any pros-
pect of receiving payment.

     I should say that 33500 would be the limit of our
expectation in future collections on notes now held.


                       (Signed) T. T. Jones
                                 Chairman.



6. Hospital Nurses' Student Fees.

President McVey submitted following correspondence:

a. Good Samaritan Hospital's Request.

     At the present time the Nursing School students
have -
                Chemistry       2 credits
                Anatomy and
                Physiology    4 credits
                Bacteriology   2 credits

     We get these for 825.00.  At the suggestion of Dr.
Scherago, we are going to have Bacteriology follow
Chemistry.   Bacteriology will be given this year in
the Second Summer Term, for which we expect to pay the
regular fee.   We would like to put Psychology in the
first term, in the plaoe of Bacteriology.    This is a
3 credit course.   We expect to pay the additional




 





9.



    $4.00 for it. That would make our bill $29.00 for
    each student for the first semester.

         Is this satisfactory?

         (Note from Miss L. Pottinger).



    b. Registrar's Letter.


                                    January 10, 1939


    President Frqrnk L. McVey
    University of Kentucky

    My dear President McVey:

         I am writing you with reference to the request
    from the Good Samaritan Hospital.

         Under the original understanding, approved by the
    Board of Trustees, nurses from the hospital were given
    the privilege of taking the following three courses,
    totaling eight credits, for a flat fee of 425.00; Anat-
    omy and Physiology 6, 4 credits; Bacteriology R6, 2
    credits; Chemistry 49a, 2 credits.   In accordance with
    your recommendation, Bacteriology will be taken out of
    this grouping. This course will then be given ih the
    summer term and the nurses will pay for it according to
    the regular summer term schedule of fees.   Psychology
    3 will replace Bacteriology in the group of courses
    given for the flat fee.   However, since it is a three
    hour course and Bacteriology R6 gives only two hours'
    credit, it is understood that the flat fee will now be
    $29.00.

          It is my further understanding that all courses
     other than the three in Chemistry, Anatomy and Physiology,
     and Psychology, taken by the nurses, will be paid for
     at the same rate as that paid by all other students,


                            (Signed) Leo M. Chamberlain
                                     Registrar


     c. It was ordered on motion duly seconded and carried that
a flat fee of $29.00 per semester be charged Good Samaritan Hos-
pital nurses and other hospital nurses for following courses:
Anatomy and Physiology 6, 4 credits; Psychology 3, 3 credits;
Chemistry 49a, 2 credits.




 







10.



     7. Men's Dormitory Rents - Deferred Payment Charge.

     President E.IcVey submitted a request of Dean Jones for deferred
payment fee of $3.00 on Men's Dormitory rents, and on motion and
second duly carried, it was ordered that grants of deferred pay-
ment of room rent to residents of Men's Dormitories may be made,
conditioned on payment on or before January 1, first semester,
and May 1, second semester.   Failure to pay in whole or in part
within the time limits named shall incur a deferred charge of $3.00,
in addition to the regular charge.


     8, Audit of Books of Fraternities.

     President McVey presented the following request of Dean of
Men, T. T. Jones:

          We are asking permission to require an audit of
     the books of all fraternities represented here to be
     made June 1 and February 1.   This will cause each
     group to tighten up on collections since their financial
     condition will be revealed twice a year.   At Ohio
     State a monthly audit is required.   We would like for
     the audit to be made under direction of the Business
     Office.

                           (Signed) T. T. Jones
                                    Dean of Men.

     On motion and second which carried, it was ordered that the
Dean of Men and Dean of Women may require audits of the accounts of
fraternities at least twice each year and more often if deemed
advisable.   The audit shall be made by and under the direction
of the Business Office, and. the expense of each audit shall be
paid by the fraternity whose accounts are audited.


     9. Bill of College Catering Company, Student Union Building
Allowed.

     a. President IcVey presented report of Dean Graham.


                                       January 16, 1939

     President Frank L. McVey
     University of Kentucky

     My dear President MnVey:

         I attach hereto an invoice rendered by the College
     Catering Company for work performed by that Company upon
     the Student Union Building.   The surrounding circum-
     stances are as follows:




 






II.



         You will remember that the architects expended
    some eight months upon the design of this building and
    that, when the semi-final plans were delivered to you
    for your study and approval, you discovered some major
    objections to the layout in general.   As a result,
    this College took over and made the changes, especially
    in combining two main kitchens into one.   Shortly
    afterwards, we entered into discussions with several
    catering companies which eventually was reduced to the
    Union News Company, who, however, restricted their
    proposed investment in kitchen and dining room equipment
    and furnishings to $12,000, which we estimated would
    cost at least $25,000.   Because of these negotiations,
    the kitchen plans largely conformed to the desires and
    plans of that company and thus were incorporated in the
    building.   Later, the College Catering Company entered
    into the picture and offered to advance or invest the
    sum of 825,000 and this offer was accepted.

         Except for a few minor changes the College Catering
    Company finally accepted the kitchen, etc., as built,
    but this occurred too late for the cost thereof to be
    included within the P. W. A. construction account. These
    items total $282.95 and while the work was done under our
    supervision, the funds were advanced by the College Cater-
    ing Company.

          The largest item upon the invoice ($747.08) was for
     soundproofing the plaster ceiling in the main cafeteria.
     You will remember that after the building was opened for
     service last May, some fault was found with the noise
     in the cafeteria.   The best available time for oerforming
     this work was after the close of the Summer School
     Sessions in August.   As we then had available a squad
     of engineering students trained in the work, this was
     done, with the College Catering Company paying for student
     labor and materials,   Judge Stoll may remember that I
     discussed this matter with him, at the time, he being the
     only available consultant.

          I therefore enclose this invoice for your consid-
     eration and can state that the costs are correct and
     fair.

                               (Signed) James H. Graham
                                          Dean

     b. Resolution

     The report of Dean Graham was accepted and on motion and
second, it was ordered that $1030.03 be paid to the College Cater-
ing Company, as shown by bill rendered and copied herein.     The
payment shall be made from Building Revenue Fund set aside to
Student Union Building.




 







12.



November 30th
1 9 3 8



INVOICE TO:



The University of Kentucky
Lexington
Kentucky

For Building Bakery Shop (6-6-38):

        Materials                $77.70
        Labor                     35.25

               Total



Gas Line to Serving Room on
   3rd Floor: (6-10-38)

        Materials
        Labor

               Total

Sound Proofing Cafeteria
    (9-22-38):



Mhaterials
Labor



Total



Connect refrigerator room to
   Exhaust System

   374 lbs. Galv. Iron @
     $.254 lb.



                NET TOTAL



     10. Taxation of Distilled Spirits and Wines in Kentuck_ - Pro-
posed Study.

     President McVey stated that through James W. Martin, Commission-
er of Revenue, the Distillers' Association of Kentucky, anxious to
have made a comprehensive study of the taxation of distilled spi-
rits and wine in Kentucky, is prepared to give the University of
Kentucky an amount sufficient to make possible the employment of
a qualified assistant, the defraying of travel and other exponsos,
and possibly the publication of such a study.   It is contemplated



8112. 95



$35.00
40.00



75.00



8 698.78
   48.30



747.08



    95.00



$1,030.03




 





13.



that the assistant's tenure shall be twelve months, beginnir.? with
the second semester of the current year.   In consequence of this
and of the fact that the Executive Committee is meeting currently,
I am submitting the matter for consideration without waiting to
have all the details worked out with the Distillers' Association.


Discussion by members of the Committee resulted in deferring ac-
tion on the request; pending investigation by President McVey of
questions raised relative thereto,


     11. Housing Men Students,

     Report of Committee on Student Welfare submitted by President
McVey:


                                      January 17, 1939


     Dr. Frank L. McoVey
     President
     University of Kentucky

     Dear President McVey:

     The Senate Committee on Student Welfare, of which I am
     chairman for the present year, has made some investigation
     and given considerable time and thought to the matter of
     housing for men students at the University.

     Briefly stated, there are something in the neighborhood
     of fifty men students who are living in attics or base-
     ments of private rooming houses under conditions which
     are not at all conducive to adequate living standards.

     With the help of Mr. Crutcher, Superintendent of Build-
     ings and Grounds, the committee has worked out a plan
     for providing additional rooms in the Men's Dormitories
     on the University campus.   The suggested Procedure is
     to make available living quarters in the basements of
     the present dormitories.   It is possible to provide liv-
     ing accommodations for fifty students in these areas in
     rooms which will be adequate and desirable according to
     present standards for student rooms.   The cost of such
     a procedure, including time and materials and also the
     furnishings for the new rooms will be approximately
     10,00.00.   The income, based on $20.00 per man per
     semester, will be $2000.00 per year.   This is a minimum
     figure, as some of the rooms will be rented for more than
     this amount.




 






14.



      The present plans provide for very satisfactory living
      quarters.   The rooms will be comparable to X esent fa-
      cilities in the Men's Dormitory, bathroom facilities
      will be adequate, light and ventilation suitable.    In
      addition to the living quarters, there will be provided
      in Breckinridge Hall an adequate social and recreation
      room.   This room will be of sufficient size and ar-
      rangement to serve the needs of all three dormitory
      units.   The present recreation room in Breckinridge
      Hall will be converted into living quarters.    This
      recreation room is so small that it has been of but
      little use, for its original purpose.

      The committee on Student Welfare has investigated this
      matter from various angles and there seems to be no
      question as to the desirability of the procedure.
      The entire matter, of course, rests on the problem of
      finances.   The question being where and how can we raise
      the $10,000.   It would seem that an investment of this
      amount which will give an annual return of '2000f.00
      is a sound investment, especially when one considers
      that we will be providing for our men students more
      and better living quarters.

      The committee is also of the opinion that if this project
      is to be realized, that action should be taken on it
      immediately, primarily for the purpose of taking advan-
      tage )f certain Federal funds and materials which are
      now available, but which may not be available later on.
      Secondly, the University needs this additional housing
      space.   It should be available by the beginning of
      school in September 1939.

      Sincerely yours,

      (Signed) M. E. Potter
               Head
               Department of Physical Education



     The report received favorable comment, and the means of secur-
ing funds with which to make the improvements was discussed.     Ac-
tion was deferred, however, pending further information as to se-
curing funds for payment of improvements.

     12. The Margaret Voorhies Haggin Trust Fund Created in Memory
of Her Husband, the Late James B. Haggin.

    a, Trust Deed.

    President MoVey presented a deed of special trust and confi-
dence, dated July 14, 1938, from Margaret Voorhies Haggin, of the
City of New York, to William M. Haupt, James W. Grerard and the
Bank of New York, trustees, by which she assigns, transfers,




 





15.



conveys and sets over to the trustees certain shares of stock of
the Haggin Estate.   The rents, income and profits and the pro-
ceeds of sale of the stock or any part thereof after deducting
expenses of management and commissions of the trustees are to be
applied to charitable use as designated in the deed of trust. The
University of Kentucky is named as one of the recipients of the
income, in amount of 50 per cent thereof.


     b. Comment of President McVey

     Today the Executive Committee of the Board of Trustees had
the great pleasure of receiving a report on the recent gift made
to the University by Mrs. Margaret Voorhies Haggin thru the crea-
tion of the trust of her name in memory of her husband, the late
James B. Haggin.   Under the provisions of the trust, the Universi-
ty of Kentucky receives one-half of the income available b the
trust.   The Executive Committee in behalf of the Board of Trus-
tees acknowledges the great possibilities that will come to the
University.

     In the life of the University gifts have been received from
time to time, but these gifts have been for specific purposes,
such as the grants of the General Education Board for the construc-
tion of the College of Education buildings, the enlargement of
the teaching and research in the field of agriculture and rural
life; the gifts of the Carnegie Corporation for art and music, and
the subscriptions to build the stadium and Memorial Hall contribut-
ed by alumni and friends.   The income from the Margaret Voorhies
Haggin trust may be used for such purposes as the Board of Trustees
may designate, outside of current expenses.    This means that the
University may found scholarships, lectureships, professorships,
and subsidize publication of learned books and articles, or my
accumulate thru the years a fund for a building.    This gift can
be of great benefit to the University, in that it will enable the
institution to do many important things that a university ought to
do.   Thru the gift of Mrs. Haggin the University can look for-
ward to a richer and more effective service.    By the creation
of this trust and making the University its beneficiary, M1rs. Hag-
gin has not only done a fine thing for the State of Kentucky, but
has established a memorial that will give pleasure to her, help
to students and encourage the artistic and intellectual life of
the University, as well as memorialize the life of a great man,
the late James B. Haggin.


      c. Expenditure of Income Received.    Memorandum by President
         McVey.

                           MEMORANDUM
 REGADLING THE i, ARGARET VOORHIES HAGGIN TRUST FUND CREATED IN ME7vi-
           ORY OF HER HUSBAND, THE LATE JAMES B. HAGGIN



     The University has received one-half the income of this trust
for the past year.   The sum amounted to 834,112.91.    It is the




 






16,



largest single gift that the University has received, and the
largest gift it has ever received which was free from restrictions
of any kind. The Executive Committee should, therefore, send
to Mrs. Haggin its appreciation of the gift and the honor the Uni-
versity has in accepting it from her.

     In thinking over the expenditure of this money, it seems to
me that there should not be too many fixed charges made against
it, so that a considerable amount may be used in the future for
some larger purposes of the University. However, there are a
number of things in the way of equipment, scholarships, lecture-
ships, and publication procedure that are greatly needed by the
University. I would recommend, therefore:

1. The Margaret Voorhies Haggin Trust Scholarships and
   Fellowships should Se established in the Graduate
   School. I suggest ten fellowships at $400 each,
   and twenty scholarships at $200 each.                 88,000

2. It would be advisable and very desirable for the
   University to have a lecture fund, with which it
   could pay men and women of outstanding scholar-
   ship and ability to come to the University from
   time to tinB to give one or more lectures.   The
   amount of this fund might be put at $1500.             1,500

3. The University has been greatly handicapped by
   a lack of funds to finance the publication of
   books, monographs and the like, that come from
   the researches and scholarship of the staff. I
   would recommend a publication fund of $2,000
   annually.                                              2,000

4. Annotation of Kentucky La