xt7mpg1hj76f https://exploreuk.uky.edu/dips/xt7mpg1hj76f/data/mets.xml Lexington, Kentucky University of Kentucky 19371114 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, 1937-11-dec14-ec. text Minutes of the University of Kentucky Board of Trustees, 1937-11-dec14-ec. 1937 2011 true xt7mpg1hj76f section xt7mpg1hj76f

Minutes of the Meeting of the Executive Committee of the
Board of Trustees of the University of Kentucky, Tuesday, Decem-
ber 14, 1937, called on that date by the Chairman of the Commit-
tee, Richard C. Stoll, for the purpose of acting on any and all
business of the University of Kentucky ready for consideration
of the Board of Trustees or Executive Committee.

The Executive Committee of the Board of Trustees of the Uni-
versity of Kentucky, a quorum being present, met in President hic-
Vey's office at the University, Tuesday, December 14, 1937, at
10:30 a.m. The members of the Committee present were Chairman
Ri6hard C. Stoll, James Park, and R. Miller Holland. Louis Hil-
lenmeyer, Commissioner of Agriculture Garth Ferguson and Dr.
George Wilson, members of the Board of Trustees, were present.
President Frank L. McVey, D. H. Peak, Secretary of the Board, and
Dean James H. Graham were present. The Secretary stated that he
had received a telephone message from the secretary of Mr. J. B.
Andrews, in which she regretted that Mr. Andrews could not attend
the meeting on account of illness. During the meeting a tele-
phone message was received from Judge John Cooper, in which he
said that he had hoped to attend the meeting but found he was not
well enough to do so. Judge Cooper is slowly recovering from an
illness of several months. The members present regretted the
absence of Mr. Andrews and Judge Cooper caused by illness and
expressed hope of speedy recovery.

1. Approval of Minutes.

The minutes of the meeting of the Executive Committee of
November 24, 1937, were approved as published.

2. President's Report.

The President's quarterly report to the Board of Trustees
was ordered recorded in the Minutes. The report is in words and
figures as follows:

QUARTERLY REPORT PF THE PRESIDENT
to
The Board of Trustees
December 14, 1937

The University in the past week has lost two men long asso-
ciated with it. One was Professor Enoch Grehan and the other
J. S. Barnes, farm foreman at the Robinson Sub-Station at 4uick-
sand. Professor Grehan was an effective man for the University.
He built up a large department and managed the business of it with
ability. He had the missionary spirit and a gentle, genial at-
titude that endeared him to students.

For many years Mr. Barnes lived at the Robinson Sub-Station.
He understood the people of the area and he rendered an invaluable
service. He will be greatly missed. The University grieves

over the death of these men.

Problems

It has been the custom in presenting the Presidentis quarter-
ly statement to review the condition of the University, This
time I wish to call the attention of the Board to a series of
problems that are pressing for consideration. First among these
is the increasing demands that are being made upon the Universi-
ty. Hardly a week passes that the University is not only asked
but urged to make some additional commitment. Many of these
things are most worth-while, and some of them are important. They
range from the use of buildings and office space to research pro-
posals and the creation of new schools. All of them require
money and no difference how worth-while the proposal may be, the
answer is readily at hand. Such restrictions however, cannot go
on indefinitely without leaving the University behind in activi-
ties it should carry on,

Salaries

The increasing student body and the growth in numbers of
graduate students bring at once many questions, such as adequate
teaching staff, more laboratory facilities and supplies, better
library provisions and housing facilities. In the long run the
reputation and standing of the University rest four-souare upon
its faculty. This means good Judgment in selecting men and money
with which to pay them. The Board is familiar with the salary
situation end it may be noted in passing that the University has
been criticized in paying too low salaries when a recent inspec-
tion was made of one of the colleges. There are directly before
us the alternatives of reducing the size of the staff, or of get-
ting more money to pay salaries. The sources from hich income
might be obtained are additional student fees or larger appropria-
tions for general operation. Unfortunately, student fees are as
high as it appears wise to make them at this time, and as to ad-
ditional appropriations, the needs of he University have been
pressed upon the administration. The University may seek young
men who promise well for places on the staff, and then lose them
to institutions that can offer them more. In the long run such
a procedure must leave a possibly devoted, but only an average
group. The standard of salaries prevailing in 1931 at the Uni-
versity of Kentucky was reduced ten per cent in the following
year, Since then costs of living have gone up, leaving the scale
less than it was in 1932.

Pressure of Student Population

In the requests presented to the State Finance Board a con-
siderable sum was asked for capital expenditures to provide apua-
ratus, equipment, and books. This request has been sympathetical-
ly received and there is hope that a sum of 0150,00 annually
will be provided. The new buildings and the old ones will require
additional equipment before they can be used effectively. The

acquirement by the Library of many State documents reouires at
once a considerable construction of stacks to provide storage
for this material. The present Library completed a few years ago
is now nearly filled, unless storage can be found elsewhere. At
the last meeting of the Executive Committee the basement of
Memorial Hall was designated for that purpose. The problem of
storage grows with new accessions to the library, but tnis may
be solved by using new photographing devices and storing the
films which may be shown by projectors. The cost of such equip-
ment is lees than $1,000.

While I am speaking of films I may call attention to the new
demands made upon the Department of University Extension. For
some time this department has collected films usually given to it
by some industrial concern, but the new development of teaching
films is bringing to the University from all parts of the State
requests to rent films for school purposes. The University has
no sound equipment, but it is asked to buy and recommend such
equipment, so that standard sets may be used in the State. To
finance this important work would cost 6,000.

The needs of other departments for equipmentare Dressing
heavily upon the budget of the University. The Department of
Physics is better housed than it has been in the past, but it
needs equipment. The same is true of Chemistry; while Bacteriol-
ogy will be better housed in the partly completed Biological Sci-
ences building, its equipment is old and in many instances obso-
lete. Other science departments are in need of greater sums for
their annual supplies. Home Economics as a department has never
had the space required to do the best work, and if there is a de-
partment that needs space this is one, a need recognized in plac-
ing its requests in the urgent capital list presented to the coming
legislature, The most amazing growth in numbers of students is
to be seen In the College of Conunerce which now has 620 regis-
trants. Hroused in White Hall, a former dormitory known to all
of the older alumni, it shares these quarters with the Department
of Botany. This college is cramped and its usefulness hampered
by inadequate quarters. The removal of the Department of Botany
to other quarters will help the situation, but not adequately.
The Agricultural College has passed the 500 mark In enrollment,
which in itself is gratifying but calls for additions to teaching
staff,

Housing of Students

In the early history of the University when it was a state
college, an attempt was made to house all the students who came
from outside of Lexington, As the University has grown this de-
sirable policy could no longer be followed, and students were
forced to find living quarters outside of the oampus, To house
the 2700 students who live outside of Fayette County is impossi-
ble for many years to come, but the University must provide enough
housing facilities to maintain standards and keep prices down.

To that end two dormitories were placed in the capital list. As
things look at this writing, it is doubtful if the funds can be
had for their construction. It is, however, possible to finance
a building for the women from the earnings of the present and the
new building since there is no debt against the women's halls. I
am, therefore, recommending that plans both for building and fi-
nancing be authorized at this meeting so an addition may be made
to Boyd Hall. By completing the fourth story of Boyd Hall and
adding a wing, about 140 women can be accommodated in the hall,
in addition to those already living there, The buildinx can be
financed on a 5% basis and the income would carry the interest
and the amortization charges.

Indebtedness

Twenty years ago the UnIversity had a small current debt and
no bonded obligations. Times have changed and under federal and
state legislation, building operations have been undertaken with
borrowed money. The construction of two residence halls for
men in 1926, the building q ogram of the past year, and the pur-
chase of the warehouse and two minor buildings, explain the
indebtedness of the University today. As a matter of information,
a table of' the present debt is included in this report.

Statement of Indebtedness
Cost Debt
Residence Halls Two 1926 8270,000 5198,577
Warehouse Purchase 1930 120,000 45,300
New Constructions 1936-1937 1,100,000 619,000
Experiment Station Annex 1936-1937 915,000 12,000
Laboratory 1936-1937 11 000 11 000
$ 1,594,000 * 885,857

Provision has been made for the debt in each instance, so that in
the course of ten years all obligations will be met, except the
present bond issue, which continues for twenty years more (1966).
The addition of $150,000 to the debt would not make it unwieldy.
The Justification for such financing is to be found in the inabil-
ity of the University to secure funds from current appropriations.

New Buildings

I reported to the Board of Trustees at a meeting last year that
the sum or 825,000 had been given to the University for the purpose
of carrying on research in the field of eye diseases of horses,
and another *q5,000 was given by other donors. The University
found it quite impossible to carry on this work without an addi-
tion to its laboratory space, so a temporary building was author-
ized at a meeting of the Executive Committee October 20. In
the long run, the work cannot proceed satisfactorily without
space, and for that purpose $150,000 was asked, so that an adequate
building can be constructed. This is Can example of what I

referred to in previous pages as an important demand made upon
the University for research. I should like to have the Board
give this matter consideration, and I am sure they will do so
sympathetically.

The building program which was inaugurated last year is Dro-
ceeding apace at the present time. Three buildings have been
accepted, a fourth is completed and the Student Union building
will pvssibly be finished in three more months. This leaves one
building under construction. This building known as Biological
Hall will remain two-thirds unconstructed until some future time.
The first third now under construction should be ready some time
during the summer. The difficult procedures with the numerous
contracts numbering about 59, as well as the relations with the
State and Federal authorities have been carried on with effective-
ness under the direction of James H. Graham, as set up in the
College of Engineering.

Inspections

During the past year the University has been under inspection
by three different agencies. These agencies have to do with
engineering, library science and music. The reports upon the
latter two have not been made, but the one upon the Engineering
College has been received. In this report two courses in the
College of Engineering were omitted from approval in mechanical
engineering. The committee that made the report passed the other
courses upon a two years basis, and will return later to inspect
the courses. The policy which the University has been following
in the past generation has been to emphasize shop work, and to
omit from the courses work in the fields of economics and the so-
cial sciences. The committee found also considerable inbreeding,
overloading of instructors and low salaries. Their report was
based upon the catalog of 1934-35, and the changes made since
then were not given the consideration they should have been given.
This committee criticized also the work done in chemistry, indi-
cating that it is too elementary and intimating that the instruc-
tion may not be as good as it might be. All these matters are
before the College of Engineering and it is hoped that another
year when the College is housed in its own new buildings, much of
the chaos of the last two years will be removed and perhaus the
necessary changes made toward meeting the requirements of the
committee. It is hoped that inbreeding, overloading, and low
salaries will be eliminated.

Another inspection has been made recently in the work carried
on in the Department of Ilbsic. This inspection arises out of the
application of the Department to the National Association of Music
Schools. The report has not yet been received at the University,
but will be received in the near future. A study is being made
by Professor van de Wall in connection with the work offered by
the Department and its relation to the comniunity and is well under
way and bearing some fruit. Out of this should come results
that are helpful and of a far-reaching character.

The third Inspection referred to above which took place in
the same week in December was made by the American Library Asso-
ciation. The University is pressing its claims for recognition
as an institution doing one full year of work in library science.
The outcome of this inspection is important to the University,
because it puts it in or out of the list of recognized institu-
tions. The maintenance of standards requires some addition to
staff and some expenditure of money for books.

In Engineering it will be necessary to provide what the
College has never had: a considerable amnount of equipment, if the
plans now in mind are carried out. In the Department of Miusic
there is need for a considerable number of books, and the same
statement applies to Library Science. The Music Department is
handicapped for lack of space. It is crowded already and any
new growth is impossible. The members of the staff have been
patient and cooperative under very difficult circumstances.

The New Commons

In the construction of the Student Union building nrovision
has been made to transfer the Commons to that builcing. In the
past year I have been endeavoring to find out thru the assistance
of Mr. Shropshire, Mr. Peak and the managers what it costs to car-
ry on these enterprises. It is hoped from the studies being
made that we can find out the facts about our difficulties, be
able to meet them and to prevent losses. The advice and recom-
mendations of Mrs. Natalie MacIntosh, a nationally recognized food
expert from New York, have been sought. She comes to the Uni-
versity all the week of December 6, and should give us some ade-
quate ideas of how to proceed. Definite suggestions should be
made in connection with the management of the Commons.

Care of the Campus

One matter which has been brought to the attention of the
Executive Committee from time to time has been that of the care
of the campus, so that some order and better procedure may follow
in the making of walks and roads and the planting of trees and
shrubs. I have appointed a committee comoosed of N. R. Elliott,
chairman; M. J. Crutcher, and D. V. Terrell, This committee has
brought to my attention quite forcibly the need to feed trees on
the campus. They have been neglected, many have been lost, and
unless action is taken in the next few years, more trees will be
lost. They estimate it will cost in the neighborhood of 83,000.
They also suggest some new planting and a definite boundary which
shall be restricted by the Botanic Garden. The committee has
recommended that it be extended from the walk which toes north
from White Hall thou the area south of the stadium to Rose Street.
This is a considerable area and would require care involving an-
nual expenditures, and the committee on the Botanic Garden has
asked the University to budget the sum of O1200 a year for the
maintenance of the garden. Unless something is done the garden
grows steadily less attractive.

Departmental Reorganization

There are other matters that might be brought to the atten-
tion of the Board at this time. These relate to the instruction-
al side of the University work. For some time we have been dis-
cussing a more definite organization of what we call the upper
and lower levels of the College of Arts and Sciences. There is
a considerable group of the ninth and tenth decile students who
are a definite college risk. We have been placing these students
under the direction of an adviser, Mr. Lysle Croft, and something
quite definite has been done in improving the standing of these
students. In some institutions a definiWe college has been set
up with two year courses for students who will not go on farther.
This college in the Univerwity of Minnesota is now in the fourth
or fifth year, and some experience has come out of this college
which may be helpful here. In the College of Engineering fresh-
man students are required to spend a certain amount of time in
study hall each day. This has been helpful. The faculty is en-
deavoring to deal with such problems in a definite way.

Conclusion

So I come to the conclusion of a rather long report, ihich
deals with some of the problems of the University. I have not
discussed the financial situation, since the University is under
the biennial budget, and has carried on under the provisions of
that budget. It is always a matter of anxiety as to how we will
come out, and every endeavor is made to keep the institution with-
in the income.

The University has made a number of contributions to the wel-
fare of the State, especially thru the services of the members of
its staff, who are giving time and effort to the problems which
are brought to their attention. Recently the Department of Wel-
fare asked the College of Agriculture to make an extensive survey
of its lands, in connection with the rotation of crops, and the
working out of a long time plan, so as to improve the land and pro--
vide enlarged production from its farms. The committee has some
data and has gone forward with plans that will be satisfactory and
helpful.

3. Financial Report

The financial report for November 1937 was filed by the Bus.
iness Agent. It was examined by the Committee and was ordered
inserted in the Minutes.

Statement of Income and Expenditures
Month of November 1937

Previously
Reported

Current
Month

General Fund Income
Fed. Appro.-Morrill-Nelson
Vocational Ed. Board
State Appro.-Summer School
Special Agr. Appro.
State Appro.-General
State Appro.-Repairs to
Bldgs.
Federal Appro.-Bankhead-
Jones
Student Fees
Student Fees - Sum. Sch.
Student Fees - U.H.S.
Student Fees - El.Tr.Sch.
Student Fees - Un. Exten.
Miscellaneous Receipts
Rentals
Men's Dormitories
Total

Expenditures
Instruction
Administration Exp. &
Maintenance
Additions and Betterments
Total
Excess of Income over Ex-
penditures

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

Expenditures
Expense
Excess of Income over Ex-a
penditures

General Ledger Income
General Ledger Expenditures

5,713.33
7, 413. 23
8,000.00
8,000.00
221,290.96

3,910.58

3,924.99
119,016.20
62,288.15
4,730.00
3,760.00
5,251.18
2,434.45
308.00
8. 322 24

5,713.33
3,041.70

2;000.00
85,803.43

369.45

3,924.99
4,671.29
30.50
105.00
170.00
2,407.15
445.19
415.00
568.59

11,426 66
10,454 93
8,000 00
10,000.00
307,094.39

4,280.03

7,849.98
123,687.49
62,318.65
4,835.00
3,9930.00
7,658.33
2, 879. 64
723.00
8. 390. 83

464, 363. 3 1 100,665.62 574,028.93

262,251.29 77,455.35 339,706.64

82,474.66 37,137.82 112,612.48
6,145.50 3,392~12 95 6
_350,871.45 117,985.29 468,856.74

113, 491.8{6 _(a ,319. 67 ) 15172.19

15,835.40 14,097.00 20,932.40
.50 .50
1,932.56 1,932.56
17,768.46 14,097.00 31,865.46

8,195.65 2,268.70 10,464.35

9, 57281 11,828.30 21,401.11

482,131.77 123,762.62 605,894,39
359,067.10 120,253. 99 479,321^09

Excess of General Fund
Income over Expenditures 123,064.67
Excess of Expenditures over
Receipts for General
Ledger accounts (102,906.48)
Accounts Payable (190802. 10
Excess of Expenditures over
Receirpts for the Fiscal
Year to Date - General Fu;0(

3,508.63 126,573.30

(8,947.19)

(111,853.67)
19,802.19

(5,438) (5M082L.56

Fiscal
Year
to Date

Excess of Expenditures
over Receipts for the
fiscal year to date -
General Fund
Cash in Bank July 1, 1937 -
General Fund
Cash in Bank November 31,
1937 - General Fund

Experiment Station Income
Hatch - Federal. Appro. 7,500.00
Milk and Butter - Cash Re-
ceipts 3,448.45
Beef Cattle Sales 73.00
Dairy Cattle Sales 580.13
Sheep Sales 546.50
Swine Sales 117.73
Poultry Sales 543.22
Farm Produce Sales 502.47
Horticultural Sales 812.27
Seed Test 317.75
Seed Inspection 9,145.55
Rentals 478.68
Miscellaneous 154.35
Fertilizer - Fees 17,877.50
Public Service - State Appro. 6,776.88
Public Service - Misc.Rec. 20.00
Feeding Stuffs - Fees 22,142.27
Adams - Federal Aopro, 7,500.00
Serum - Sales 1,354.29
Serum - Virus Sales 131.95
Serum - Supply Sales 70.57
Serum - Misc. Receipts 25. 51
State Appro. 16,144.49
Creamery - License Fees 9,437.46
Creamery - Testers Licenses 2,049.89
Creamery - Glassware Tested 292.97
Robinson - State Appro. 4,013.72
Robinson - Misc. Receipts 1,295.10
West Ky. - State Appro. 5,475.49
Wuest Ky. - Misc. Receipts 6,377.24
Purnell Federal Appro. 30,000.00
Bankhead-Jones - Fed. Appro. 29,601.76

(5,082, .56)

89,70"3S 13

84,705, .5 7

7 ,5 01..0

857.79 4,3306.24
73.00
171.94 752.07
546.50
117.73
109.41 652.63
109.78 612.25
207.75 1,020.02
106.62 424.37
879.76 10,025.31
94.67 573.35
13.29 157,64
725.00 18,602,50
1,881.56 8,658,44
35.00 55.00
4,790.64 26,932.91
7,500.00
171.80 1,526.09
12.48 144.43
3.50 74.07
25.51
2,515.50 18,659.09
64.50 9,501.96
66.00 2,115.89
14.90 307.87
1,871.78 5,885.50
239.94 1,535.04
894.38 6,369.87
398.96 6,776.20
30,000.00
29,601.76

Nursery Inspection - State
Appro.
Nursery Inspection - Fees
total

Expenditures
Expense
Additions and Betterments
Total

720.00
1,380.00
186, 907, 19

180.00
190.00
16,606.95

900.00
1,570.00
203, b14.14

123,483.74 38,028.06 161,511.80
3,727,61--_ 690.12 4,417,73
127,211.35 38,718.18 165,929.53

10.

Excess of Income over Ex-
penditures 5
Excess of Receipts over
Expend. for General
Ledger accounts
Accounts Payable (1
Excess of Receipts over
Expenditures 4
Excess of Receipts over
Expenditures for the fiscal
year to date - Experiment
Station
Cash In Bank July 1, 1937 -
Experiment Station
Cash in Bank November 30, 19!
Experiment Station

Extension Division Income
Federal Bankhead-Jones I
Federal Smith-Lever
Federal Supplementary
Federal Capper-Ketcham
State Smith-Lever
County and Other
Total

Expenditures
Expense
Excess of Income over
Expenditures

9,695.84

l830
I 1 R. or

(22,111.23) 37,584,61

3,434.35 5,515.65
..(1It; 7- C; Q

.L * ovtJL . 6#JJ ;__i_________________/

8,241.89 (18,676.88) 29,565.01

29,5G5 01

37~~~~~~b _7
bE05?,46

.83,365.25 183,365,25
74,154.38 74,154,38
13,272.76 13,272.76
18,400.49 18,400.49
43,403.37 11,252.91 54,656.28
5,274.16 4,341.93 9 616 09
337,870.41 15,594.884 353,465.25

225,592.14 54,901.64 282,493,78

112278. 27 j41,306.80) 70, 971. 47

Excess of Income over Ex-
penditures for the fiscal
year to date - Extension
Division
Cash in Bank July 1, 1937 -
Extension Division
Cash in Bank November 30, 1937 -
Extension Division

Trust Fund Income
Student Loan Fund
Student Notes Paid
Total Receipts

801.29
642.41
1,443.70

Expenditures
Expense
Student Notes 100.00
Total Expenditures 100.00
Excess of Receipts over
Expenditures 1,343.70
Excess of Receipts over Ex-
penditures for the fiscal
year to date - Trust Fund
Cash in Bank July 1, 1937 Trust Fund
Cash in Bank November 30, 1937 - Trust

70,971.47

2,672.00

313.57 1,114.86
368.23 1,010 4
681.80 24125.50

9.00 9.03
25.00 125,0O
34.00 134. 00

647.80 1,2991. 0

1,991.50
4,267,53
Fund 6,259.03

_.- - -11, .. . __. --t - I

11.

Summary
General Fund Income
Experiment Station Inc.
Extension Division Inc.
Trust Fund Income
Total

General Fund Expend.
Experiment Sta.Expend.
Extension Div. Expend.
Trust Fund Expend.
Total
Excess of Income over
Expenditures

Accounts Payable

482,131.77
186,907.19
337,870.41
801.29
1 007,710.66

359,067.10
127,211.35
225,592.14

711.8?0. 59-

295,840.07

(31, 337,44)

Excess of Expenditures
over Receipts for General
Ledger accounts (102,825.18)

Student Loan Fund Notes_

Excess of Receipts over Ex-
penditures for the fiscal
year to date - Combined
Fund 1

542.41

62,219.86

123,762 a62
16,606. 95
15,594.84

605,894.39
203,514.14
353,465.25

313.57 1,114.86
156,277.98 1, 1363, 986. 4

120,253.90 479,321,09
38,718.18 165,929.X3
56,901.64 282, 493.78
9.00 9.00
215,882.81 927,753.40

(59,604.83) 236,235.24

(31,337.44)

(5,512.84) (108,338.02)

343.23 885.64

(64, 774. 44) 97 445.42

Excess of Receipts over Ex-
penditures for the fiscal
year to date - Combined Fund

97,445.42

Cash in Bank and on hand July 1,
1937 - Combined Fund

Cash in Bank and on hand November 30,
1937 - Combined Fund

222 . 845.M?

Abstract of item shown on Statement
of Income and Expenditures as "Excess
of Expenditures over Receipts for Gen-
eral Ledger accounts $108,338.02"

Debit

Cred't

Accounts Receivable

Sundry Account 8

10O,474,06

100,474.06
1,136.04
108,338,02

1.136.04

125,400.11

''2

4. Requisition Committee Report

The Requisition Committee filed written report of its action
each week from November 18, 1937, to December 8, 1937, inclusive.
The report showed orders made by the Business Office on the au-
thority of the Requisition Committee in the manner prescribed by
the Board of Trustees and State laws, running from No. 3292 to
No. 3700. The report was examined, and on motion and second
the orders named therein were ratified and approved and payment
on said orders were authorized and approved,

The following additional budget aupropriations were aoproved
and allowed: Heating Plant, 8292.20; Business Office, desks,
$62.66.

5. Budget for Next Biennium Discussed.

President McVey presented the following consolidated state-
ment of requests far appropriations for the University of Ken-
tucky for biennium 1938-1940, made to State Division of Budgets.
He commented on the University's needs of such appropriations,
but stated that due to the condition of State finances, favorable
action on the requests in entirety is not probable. General
discussion followed.

CONSOLIDATED STATENENT
BUDGET FOR BIENNIUM

1938 -- 1940

UNIVERSITY OF KENTUCKY

Next Biennium
COLLEGES 1936-38 Now 1938-39 1939-40
General Support : 660,000 : 993,240 993,240
Summer Session : 8,000 20,000 20,000
Repairs : 8,000 : 45,000 : 45,000
Agr. Courses 24,000 30,000 30,000
Capital Outlay,
Equipment & Builds.: 586,760 416,760
Total 700,000 1,675X000 :1,05,000
EXPERIMENT STATION _
'General Support 48,000 : 60,000 : 60,000
Public Service Labs: 21,000 27,000 27,000
Nursery Inspection : 2,000 2,000 : 2,000
Princeton Substa. : 14,000 : 20,000 20,000
Quicksand Substa. : 14,000 20,000 20,000
Capital Outlay
Buildings . 150,000 : 20,000
Total 99,000 279,000 149 000 -

13.

BUDGET FOR BIENNIUM, 1938-40, (Continued)

* 1936-38 (Now) Next Biennium
1938-39 1939-40

Agricultural Ex- : 8120,000 . $155,000 : f155,000
tension;Maintenance
and Support

These amounts are in addition to University revolving funds.

6. Student Loan Fund Investment.

Letters from Mr. Gordon:

December 9, 1937

Senator D. H. Peak
Business Agent
University of Kentucky
Lexington, Ky.

Dear Senator Peak:

I have your letter of November 24th, enclosing Stu-
dent Loan Fund Report revised as of October 31, 1937.

At the last meeting of the Executive Committee, I
promised to attempt to get some recommendations from some
men in Louisville whose advice in investment matters is
generally good, as to how the University should invest
the cash of something more than $18,000 which is now in
the Fund,

From inquiries which I have made, I rather think that
the best thing to do is to leave the cash item of 813,000
on deposit at inter