xt7rxw47qk2p https://exploreuk.uky.edu/dips/xt7rxw47qk2p/data/mets.xml Lexington, Kentucky University of Kentucky 1936074 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, 1936-07-jun4. text Minutes of the University of Kentucky Board of Trustees, 1936-07-jun4. 1936 2011 true xt7rxw47qk2p section xt7rxw47qk2p

Minutes of the Regular Meeting of the Board of Trustees of
the University of Kentucky, June 4. 1936.

The Board of Trustees if the University of Kentucky met in
President McVey's office at the University June 4, 1936, at 10:30
a.m. The members of the Board present were Governor A. B. Chand-
ler, chairman; Richard C. Stoll, John Cooper, R. Miller Holland,
Dr. George Wilson, James Park, John Newcomb and H. S. Cleveland.
President F. L. ScVey and Secretary D. H. Peak were present.

1. Minutes Approved.

The minutes of the following meetings were approved as pub-
lished: Regular ikieeting of the Board of Trustees, April 7, 1936;
Executive Committee, May 5; Executive Committee, Lay 22, 1936..

2. President's Report.

The President made his quarterly report which was ordered to
be recorded in the Minutes. The report is copied as follows:

Quarterly Report of the President to the
Board of Trustees, University of Kentucky,
June 4, 1936.

Enrollment

I am beginning this report to the Board of Trustees of the
University of Kentucky for the fourth quarter ending June, 1936,
by presenting the figures on enrollment for this past year. In
the first semester of this year there were 3172 students enrolled,
and in the second semester there were 3025. This is a normal
drop from the fall enrollment; it follows in all institutions in
the second semester. The enrollment for the entire year, cover-
ing both semesters only and excluding all duplicates, was 3554.
In the Summer Session there were enrolled in the first term 1718
students, and in the second, 1034. The total enrollment includ-
ing the Summer Session of 1935 to June, 1936, was 5195. This
figure does not include students enrolled in correspondence
courses and extension courses, nor does it include pupils in the
University Training School. If these were added it would be
necessary to increase the figure by about 1600.

General Conditions

The University of Kentucky has had a satisfactory year, not
that great additions have been made to plant, equipment or to
staff, but the affairs of the University have gone along effective-
ly; all bills have been paid, and money received according to the
estimates set up in the budget adopted in April, 1935. The State
Treasurer has transmitted to the University the various

appropriations before the end of each month, and salaries have
been met promptly.

In view of the general situation last fall and the disturb-
ing conditions existing in the State, this may be regarded as a
very considerable accomplishment.

Construction

The Board of Trustees undoubtedly is familiar with what has
been done in the addition of buildings to the plant. Federal
funds, amounting to the sum of $166,000, under the provisions of
the WPA have already been received by the University and there
has been borrowed by the issuance of bonds the sum of 8600O000.
These bonds were sold on a 3.4 basis. The total amount borrowed
was 8634,000. At the time of this meeting bids have been re-
ceived and contracts let for the steam distributing system on the
campus. The work is to begin the middle of June. Work on the
south wing of the Engineering College group has begun, and it is
expected that bids will be received on the east wing on June 16.
Work has also begun on the Annex to the Experiment Station Build-
ing. Plans for the Student Union Building are going forward and
should be ready by July 1. The Law School building has been pro-
Jected, plans outlined, and these plans are now ready for your
consideration. There is some opposition to these plans for the
Law School and to the exterior of the building as now set up in
the drawings. This opposition might be expressed in this way;
that the building is not large enough, and that the exterior de-
parts from the general trend of buildings on the campus.

The University is very badly in need of additional buildings.
The M1usic Department is crowded and its work greatly hampered by
its limited quarters at the present time. The Home Economics
Department is located in the old Agricultural Building, and is
inadequately provided for. It is hoped that a building may be
provided for it. Three of the scierrce departments are housed
inadequately, and it is hoped that provision may be made for them
in the construction of a new building. The Training School now
requires additional space and an addition sho+QA 8,emade in the
near future. Another great need is an Armory 7 R. &.T.C. regiment
and the training of teams. All of these should be taken care of,
but unless the University receives additional funds nothing can be
done. It is thought application should be made for money for
this construction which would require about 8330,000, the loan
being on the 45-55 basis. If this sum is secured, it will be
possible to meet some of the needs Just referred to.

For some time we have been discussing the wisdom of setting
up a course in industrial arts to be associated with the College
of Education. The instruction in general would be given to the
students in the high school affiliated with the College of Educa-
tion. In such a plan it would be possible to use some of the
Engineering College equipment that will be discarded in the near
future, and possibly some of the personnel in that college may be
used to carry on instruction. The matter is under consideration

at the present time, and a more definite statement will be made
later.

Public Service Laboratories

At the session of the Legislature when the budget was adopt-
ed, the request for the public service laboratory work was re-
duced $1000 from last year. This laboratory took over the exam-
ination of specimens sent to it by the State Board of Health and
the work has increased enormously. There is a vast difference
between what was done two years ago and what is done today. These
increasing demands have been made without adequate funds, but the
laboratory faces a difficult situation for another year, and un-
doubtedly will be forced to apply for emergency funds in the com-
ing year. I hope it will be possible to meet this situation
through cooperation with the Governor's office.

Graduate Work

At the February meeting of the Council on Higher Education,
a resolution was passed placing all graduate work done in public
institutions of higher education in the University of Kentucky
after September 1. This is a forward-looking and statesmanlike
procedure. The action of the Council on Higher Education has
attracted attention all over the country, and a great deal of
interest is manifested in the carrying out of the resolution.
The University has, as a consequence, a new responsibility placed
upon It and it must do the graduate work in a thoroughgoing way.
With that in mind, I have asked the General Edudation Board for
assistance in furnishing additional materials for the library.
For your information at this point, I am including the memorandum
sent to that Board. I cannot say what will be done, but when I
talked with Mr. Trevor Arnett and Mir. Jackson Davis they were very
gracious and sympathetic in their comments.

Memorandum in Connection with Graduate Work
in Kentucky and the Relation of the Library
of the University of Kentucky to It.

I. Very great advances have been made in the field
of education in the state of Kentucky. In 1932 the
legislature authorized the Governor to appoint 15 per-
sons to an Educational Commission. It was understood
that this Commission was to make a study of the educa-
tional situation in the State and to report to the leg-
islature in January, 1934.

The work done by the Commission was completed
in December, 1933. It has been made possible by the
grant of 85,000 from the General Education Board of
New York City, S7,500 from the Kentucky Education As-
sociation and $500 from the Kentucky Negro Education
Association, The services of the members of the

staffs of the different colleges that were drawn upon
by the Commission were given without pay.

II. The report of the Commission was in the form
of a code which simplified the education laws, eliminat-
ed inconsistencies, and authorized some new procedures
that made an excellent code, In this law was a pro-
vision that a Council on Higher Education should be
established consisting of 16 members as follows: the
President and a member of the Boards of each of the
State Teachers Colleges; the President, the Dean of the
College of Education and three members from the Board
of Trustees of the State University; the State Superin-
tendent of Public Instruction and two members of the
State Board of Education, The legislature of 1934
adopted the code with slight exceptions, giving a new
freedom for the development of education in Kentucky.

III. The Council on Higher Education was organ-
ized in 1935, and at a meeting in February, 1936, a
resolution was passed stating that after September 1,
1936, all graduate work should be carried on at the
University of Kentucky, and that the State Teachers
Colleges were not to continue such work after that
date.

The Colleges on private foundation in the
State fully acquiesced in the action of the Council.

IV. The action taken by the Council on Higher
Education on the concentration of graduate work at
the University of Kentucky is an outstanding act in
Higher Education. In no other State has such arrange-
ment been made, consequently the carrying out of the
project is an important one, and one that affects ..
materially the whole field of education in the State,
particularly in graduate work,

V. The Board of Trustees of the University of
Kentucky have accepted this challenge, but they
recognize that it places heavy responsibilities upon
the University, It is particularly essential that
in order to meet this situation the Library should
be materially strengthened. The present library of
the University of Kentucky numbers 178,500 volumes.
These volumes are distributed as follows:

Agricultural Library 15,000
Law Library 25,000
Training School Library 4,000

Twenty thousand volumes are U. S., state
and city documents, and 30,000 are bound periodicals.
The remaining are in the classified collection and
are divided as follows:

Engineering 5,000
Language and literature 8,000
Mathematics and science 16,000
Social sciences 22,000
Fine and useful arts 9,800
Miscellaneous 23,700

It has been estimated that the University Libra-
ry needs approximately $125,000 to be spent at once
for its basic book collection. At the present time
the University offers a doctor's degree in eight
fields. These fields are mathematics, physics, chem-
istry, psychology, political science, economics, and
history.

The Library is strongest in mathematics, physics
and chemistry. It has a fairly good working collec-
tion in education and psychology, but the Library is
weak in history and in literature, and quite unsatis-
factory in bibliography and foreign reference works.

The Library of the University is housed in a new
building representing a cost of $450,000. The build-
ing is well planned and equipped to take care of ap-
proximately 350,000 volumes. It has adequate reading
rooms and space for the students. There are seats
for 550 students in the various reading and study
rooms.

The University is 100 miles away from the larger
civic centers of Cincinnati and Louisville and is en-
tirely dependent on its own resources for both books
and periodicals.

VI. Graduate work at the University of Kentucky
has grown rather rapidly. The standard maintained
has been high and the institution hopes to keep it
that way, but it recognizes that new equipment for
the Library is fundamental and necessary in carrying
out the provision set up by the Council on Higher Ed-
ucation.

This memorandum helps to set forth the facts
regarding the situation in connection with the sug-
gestion that the University of Kentucky be given
consideration by the General Education Board.

(Sighed) Frank L. McVey
President of the University
of Kentucky

GA1

Gif t of the Carneye Corporation

While attending the meeting of the American Association for
Adult Educatidn in New York, May 18, I took the opportunity to
consult with Dr, Frederick D, Keppel of the Carnegie Corporation
regarding the desirability of having materials for the study of
the graphic arts, for exhibits and lectures on that subject for
woments clubs throughout the State, Professor Edward Fisk and
Mrs, Fisk had prepared an Interesting statement with lists of
the materials needed to carry It through, I am pleased to report
that the Carnegie Corporation has given $1000 for that purpose,

Stadium

I have to report to the Board of Trustees at this meeting a
proposal made to me as President of the University by the Athlet-
ic Council to make application for funds from the WAP,. to add
two sections to the present stadium, The committee representing
the Council said that there was need for more seats at two of the
larger football games, and that the growth of the student body
took fully one-half of the south side, thus reducing the number
of seats that could be disposed of. It was also pointed out
that the teams needed a place where practice could be carried on
in inclement weather, And it was further poilted out that the
opportunity for securing such money would soon be passed, I
told them I would report what they had to say on the matter, but
that I could not recommend the construction of two sections at a
cost of $40,000 for the purpose of meeting the larger attendance
on two occasions, It seems to me that the University would
hardly be justified In such an expenditure to meet a need of that
kind, However, I do suggest to the Board that a field house be
erected at a reasonable sum, It may be stated that in order to
erect two sections of the stadium the Council would have to go In
debt to the amount of S15,000. I leave this matter for your con-
s ideration,

The General Colegte

'There is a great deal of dtscussion in educational circles
about the student doing work ini special fields In the freshman
and sophomore years, It is stated that some students ought not
to go into special fields of study, but should go on to college
for two years tt least, In order to meet thils situation, the
University Of Minnesota established a General College at the
University four years ago. This action attracted a great deal
of attention, and I think it may be said that the college has
Justified itself in the work It has done,

It is possibly desirable, In view of our problems here, to
set up a general college at the University of Kentuoky,. The
courses offered are not those leading to specialization, but
rather those that enable the student to develop background. and
learnr somethlng about the present organization and set-up of sO-
ciety, It is likely that students taking such a course would

acquire a background and quite satisfactory education. It must
be said, however, that the setting up of courses that now exist
would not meet the situation. It would be necessary to set up
courses that would meet the needs in a more intimate way than
is now done in present existing courses. The matter is being
considered and I am reporting this for your information, so that
when the matter comes up later, the Board will have some under-
standing of such a college.

Morrill Act

It will be recalled that this matter has been brought to the
attention of the Board a number of times in the last year and a
half. There will be due the University from the State July 1,
$17,289.00, interest on this endowment. This amount has not
been paid to the University and it will be necessary to report
to the United States Office of Education the failure of the State
to meet its obligation. I submitted to the Attorney-General in
person the papers relating to the Morrill Land Grant Act. This
was on April 20. I have called the matter to the attention of
various State officers but nothing has been done about the matter
as yet.

In order to refresh the memory of the members of the Board,
I may say that Congress passed an act in 1862 giving to the
states a certain amount of acreage that might be used for estab-
lishixg a land grant college. Kentucky was given for its col-
lege 330,000 acres, which it sold for 8165,000, of which the Uni-
versity received as its share $144,000, the remainder going to
the school for negroes at Frankfort. The State, instead of in-
vesting this sum in bonds, took the money and passed it into the
State treasury, and agreed to make it a perpetual obligation to
the University. For sixty-five years the interest has been paid
regularly. Now because the bond has not been found, and because
the Legislature made no appropriation, it seems to imply that the
sum cannot be paid. For the State to repudiate its solemn obli-
gation would be very unfortunate, and would give to the State a
publicity that would be highly detrimental. It is legal and
right for the University to receive this money, and for the State
to lose the title of "land grant college" for its university
would be exceedingly unfortunate, and I take it that there is no
intention of doing that. Unless something is done by July 1,
it will be necessary for me to report to the United States Office
of Education the failure of the State to meet its obligation.
This I should very much dislike to do.

Insurance on University Property

It will be recalled that the State Legislature has passed a
general insurance act, under which public buildings are to be
insured by the State itself. This act has not been set up, so
I have placed in the budget for insurance the same amount as last
year on the buildings and contents. I presume we shall receive

notice when the act is set up.
I have made this allowance,

I feel it my duty to report that

I have to report the death of Mr. J. H. Rice, who served the
College of Engineering for eighteen years. Mr. Rice was an ef-
fective member of the Engineering staff, and it is with great re-
gret that we have to report his death on May 18. His family re-
ceived $1,000 insurance from the group insurance carried at the
University of Kentucky.

May I in closing this report extend my thanks to the Board
of Trustees for their services to the University, for their great
interest and for their sympathetic and helpful attention to its
affairs during the year.

3. Financial Report.

The Business Agent stated that the financial report for Mlay
had not been completed. It was ordered that the report be in-
serted in the Minutes, if received in time for publication. The
report reads as follows:

EXHIBIT "B"

Statement of Income and Expenditures
Month of May 1936

Previously
Reported

Current
Month

Fiscal
Year
to Date

General Fund Income
Federal Appropriation 42,750.00
Vocational Ed. Board 17,167.99
Int. on Peabody Endow. 2,000.00
State Appro.-Back Sal-
aries 71,100.00
State Appro.-Summer Sch.9,000.00
Special Agr. Appro. 21,200.00
State Appro. - Repairs
to Bldgs. 5,795.04
State Appro..- General 2,542.36
Student Fees 223,129,27
Student Fees - Summer
School 59,206.17
Student Fees - UHS 9,928.50
Student Fees - El.Tr.
School 8,367.00
Student Fees - Un.Ext. 15,839.20
Misc. Receipts 14,373.79
Rentals 2,575.30
Men's Dormitories 16,089.66
Fed. RRE.-Bankhead- 5,700.00
Total 1]-086,764.28

3,333.83

2,150.00

1,985.79
58,092.66
2,315.39

390.00

120.00
624,92
1,381.19
355.00
1,000,00
5,700 00
577448.78t

42,750.00
20,501.82
2,000.00

71,100.00
9,000.00
23,350.00

7,780.83
620,635.02
225,444.66

59,206.17
10,318.50

8,487.00
16,464.12
15,754.98
2,930.30
17,089,66
11,400.00
1l64-, 2l,3..06-

Expenditures
Instruction
Adm., Exp. and Maint.
Additions and Better.
Totql

658,246.42
216,940.49
14,699.73
889,886.64

71,527.89
21,905.90
3,080.72
96,514.51

729,774.31
238-,846.39
17,780.45
986,401.15

Excess of Income over Ex-
penditures 1!

96.877.64

(19.065.73)

177.811. 91

Patterson Hall Income
Board 52,728.82
Misc. Receipts 284.36
Room Rent - Summer Sch. 2,089.00

Total

Expenditures
Expense
Additions and Better.
Total

Excess of Income over
Expenditures

General Fund Income
General Fund Expend.
Excess of General Fund
Income over Expendi-
tures
Accounts Payable -
liquidated
Excess of Expenditures
over Receipts for Gen
eral Ledger accounts
Excess of Receipts ove
Expend. for fiscal ye
to date - General Fun
Excess of Receipts ove
Expend. for the fisca
year to date - Genera
Cash in Bank July 1, 1
General Fund
Cash in Bank May 31, 1
General Fund

Experiment Station Income
Hatch - Federal Appro.
Milk and Butter - Cash
Receipts
Beef Cattle Sales
Dairy Cattle Sales
Sheep Sales
Swine Sales
Poultry Sales

1,578.10

54,306.92
284.36
2,089.00

55,102.18 1,578.10 56,680.28

38,703.46 8,240.14 46,943,60
547.25 547.25
39,250.71 8,240.14 47,490.85

15,851.47 (6,662.04) 9,189.43

1,141,866.46 79,026.88 1,220,893.34
929,1.37.35 104,754.65 1,033,892.00

212,729.11 (25,727.77) 187,001.34

(71,191.63) (71,191.63)

(76,970.22) 15,136.57 (61,833.65)
ar
5ar
Id 6456. (0,9120). 53,976.06

1 Fund
935 -

936 -

53,976.06

5,837.75

59,813.81

15,000.00

8,237.63
1,775.27
761.78
571. 64
2,051.42
2,502.44

811.18
227.09
40.00

74.25
223,54

15,000.00

9,048.81
2,002.36
801,78
571.64
2,125. 67
2,725.98

- - I A -- -- I -

10.

Farm Produce Sales 2,165.81
Horticultural Sales 427.40
Seed Test 759.69
Seed Inspection 21,696.75
Rentals 5,446.69
Miscellaneous 1,050.40
Fertilizer - Fees 31,940.46
Public Service - State
Appro. 18,747.21
Public Service - Misc. 16.60
Feeding Stuffs - Fees 45,850.99
Adams - Federal Appro. 15,000.00
Serum - Sales 1,665.71
Serum - Virus Sales 140.05
Serum - Live Stock Sales 129.76
Serum - Supply Sa.les 155.70
Serum - Misc. Receipts 2.35
State Appropriation 43,000.00
Creamery - License Fees 8,380.50
Creamery - Testers Lic. 3,001.95
Creamery - Glassware Test. 622.69
Robinson - State Appro. 10,353.94
Robinson - Misc. Rec. 2,397.53
West Ky. -State Appr6. 13,112.00
West Ky. - Misc. Rec. 7,371.25
Purnell - Federal Appro. 60,000.00
Bankhead-Jones - Federal
Appro. 19,734.51
Nursery Inspection - State
Appro. 1,802.77
Nursery Inspection -

Fees

Total

Expenditures
Expense
Additions and Better.
Total
Excess of Income over
Expenditures

Accounts Payable - li
dated
Excess of Receipts ov
Expenditures for Gen
Ledger accounts
Excess of Receipts ov
Expenditures
Excess of Receipts ov
Expenditures for the
cal year to date - E
ment Station
Cash in Bank July 1,
Experiment Station
Cash in Bank May 31,
Experiment Station

2,085.90

109.00
2,044.91
94.67
10.57
9,071.25

1,664.83
7.60
5,147.64

303.33
11.55
6.75
3.50
18.00
3, 500.00
56.50
71.00
66.65
2,483.07
1.50
1, 088. 00
304.63

4,251.71
427.40
868.69
23,741.66
5,541.36
1,060.97
41,011.71

20,412.04
24.20
50,998.63
15,000.00
1,969.04
151.60
136.51
159.20
20.35
46,500.00
8,437.00
3,072.95
689.34
12,837.01
2,399.03
14,200.00
7,675.88
60,000.00

19,734.51

428.70 2,231.47

1,650.00 235.00 1,885.00
347,522.89 30,190.61 377,713.50

275,082.46 36,563.68 311,646.14
4,556.12 124.77 4,680.89
279 38.58 36,688.45 316,327.03

67,884.31 (6,497..84) 61,386.47

Lqul-
(3,150.32) (3,150.32)
er
eral
12,839.85 1,010.07 13,849.92
er
77,573.84 (5,487.77) 72,086.07

er
fis-
xperi-

1935 -

1936 -

72,086.07

(23,296.47)

I - 48j 789. 62., - .

11.

Extension Division Income
Federal Bankhead-Jones
Federal Smith-Lever
Federal Add. Co-op.
Federal Supplementary
Federal Capper-Ketcham
Smith Smith-Lever
County and Other
Total

Expenditures
Expense
Excess of Income over
Expenditures

Excess of Income over Ex-
penditures for the fiscal
year to date - Extension
Division
Cash in Bank July 1, 1935 -
Extension Division
Cash in Bank May 31, 1936 -
Extension Division

Trust Fund Income
Student Loan Fund
Student Notes Paid
Total Receipts

Expenditures
Expense
Student Notes
General Ledger accounts
Total Expenditures
Excess of Receipts over
Expenditures

289,850.11
148,308.77
21,000.00
53,091.04
36,800.97
104,B00. 00
16,084.28

289,850,11
148,308.77
21,000.00
53,091.04
36,300.97
10,700.00 115,300.00
2,733.53 18,817.81

669,735.17 13,433.53 683,168.70

482,034.79 62,108.83 544,143.62

187,700.38 (48,675.30)139,025.08

139,025.08

303.82

139,328.90

4,378.37
3,588.65

378.89
471.16

4,757.26
4.059.81

7,967.02 850.05 8,817.07

26.33 26.33
170.00 60.50 230.50
5,000.00 5 000.00
__ 5,196.33 60.50 5,256.83

_ _2,770.69 789.55 3,560.24

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

3,560.24

Cash in Bank July 1, 1935 -
Trust Fund

1,128.84

Cash in Bank May 31, 1936 -
Trust Fund

4,689.08

12.

Summary
General Fund Income
Experiment Sta. Income
Extension Div. Income
Trust Fund Income
Total

General Fund Expend,
Experiment Sta. Expend.
Extension Div. Expend.
Trust Fund Expenditures
Total

1,141,866.46
347,522.89
669,735.17
4,378.37
2,163,502.89

929,137.35
279,638.58
482,034.79
26.33
1,690,837.05

79,026.88
30,190.61
13,433.53
378.89
123,029.91

104,754.65
36,688.45
62,108.83

203,551.93

1,220,893.34
377,713.50
683,168.70
4,757.26
2,286,532.80

1,033,892.00
316,327.03
544,143.62
26.33
-1,894,388.98

Excess of Income over Ex-
penditures

472,665.84

(80,522.02)

392,143.82

Accounts Payable - liqui-
dated

(74,341.95)

Excess of Expenditures over
Receipt s for General Ledger
adcounts (69,130.37)

Student Loan Fund Notes

Petty Cash accounts

Excess of Receipts over Ex-
penditures for the fiscal
year to date - Combined
Fund 3

3,418.65

200.00

32,812.17

16,146.64

410.66

(52,983.73)

3,829.31

200.00

(63,964.72) 268,847.45

Excess of Receipts over
Expenditures for the fis-
cal year to date - Combined
Fund
Cash in Bank and on hand July
1, 1935 - Combined Fund
Cash in Bank and on hand May
31, 1936 - Combined Fund

268,847A45

(14,026.06)

54,821.33 _

Abstract of item shown on Statement
of Income and Expenditures as "Excess
of Expenditures over Receipts for Gen-
eral Ledger accounts $52,983.,73"

Accounts Receivable
Insurance Paid in Advance
Sundry Accounts

Debit

40,120.08
470.24
12,393.41
52,983.73

Credit

13.

4. Election of Executive Committee and Of icers of the Board.

This being the meeting at which the Executive Committee and
officers of the Board are elected, Doctor Wilson, seconded by Mr.
Cooper, put in nomination each of the present members of the Ex-
ecutive Committee; namely, Richard C. Stoll, Robert G. Gordon,
James B. Andrews, James Park and R. Miller Holland.

Mr. Cooper, seconded by Doctor Wilson, then nominated Rich-
ard C. Stoll to succeed himself as vice-chairman of the Board.

Mr. Hillenmeyer, seconded by Mr. Newcomb, placed in nomina-
tion John Skain to succeed himself as Treasurer and D. H. Peak
to succeed himself as Secretary.

The vote in each case was unanimous, and the chairman an-
nounced the election and ordered record thereof to be made in the
minutes.

5. Budget for 1936-1937.

President McVey presented revised budget for year 1936-1937
(See Section 6, Minutes of April 7, 1936). The budget as recom-
mended was approved, and the following endorsement was made in
open meeting on a copy thereof:

"Budget accepted as basis of expenditures for the
year 1936-37 and provision for income and expenditures
approved.

A. B. Chandler
Chairman of the Board of Trustees

D. H. Peak
Secretary of the Board of Trustees!

A copy is inserted in the permanent record of minutes as
appendix thereto,

6. Campus Book Store Report.

President McVey presented the report of the Campus Book
Store for six months ending December 31, 1935. It was ordered
inserted in the Minutes. Copy follows:

14.

Report of the Campus Book Store -- July 1, 1935 - January
1, 1936.

Respectfully submitted:

(Signed) James Morris
Manager

SALES

July ---

August --------________________

September ---------------------

October -------------- ------

November ----------------------

December ----------------------

8 3,052.76

383.85

29,501.42

6,044.35

2,990.43

1,870.21
$43,843.02

COL1;IISSION APPLIED

Gross Sales Commissions ----------------------- $4,384.30

Exemptions and deductions

Law Textbooks --------- $42,68

Dr. M. M. White ------- 60.53

Dr. B. B. MlcInteer ---- 18.00

Dr. W. W. Jennings ---- 55.80

Net Cash Return to University

177.01

$4,207.29

_ . 7

15.

Will you authorize me to buy one second-hand Ph.D.
cap and gown f or $10.00. It belonged to Judge Chalkley.

The banking business on the campus is in a bad way.
We are doing our best giving out an average of $300.00
per day in cash on checks. Twice each year we have to
serve from ten to twenty warrants on students for failure
to pay cold checks, What suggestions have you to offer?

We now buy used books at the rate of 40% of list
price and sell. at 66 2/3% of list. I would recommend
that this committee stop collection of their commission
on second -hand books and I would then raise the price
I pay for used books to about 50% of the original price
and the selling price to about 70% of the new price. To
make this point more clear, take for example --

JenningFs' history sells new for $3.00
The University gets- .30
I get ------.________________________ 30