Proceedings of the Board of Regents (1963-1966)

November Meeting, 1964
THE UNIVERSITY OF MICHIGAN
ANN ARBOR, NOVEMBER 20, 1964
The Regents met in the Regents' Room at 9:30 A.M.
Present, the President and Regents Matthaei, Briggs, Sorenson,
Cudlip, Power, Murphy, Brablec, and Goebel. Superintendent of Public
Instruction Bartlett was absent. Executive Vice-President Niehuss,
Vice-Presidents Heyns, Pierpont, Norman, Lewis, Stirton, and Radock,
and the Secretary also were present.
The President and the Regents cordially welcomed Mr. Robert P.
Briggs, who was appointed by Governor Romney to complete the unexpired term of Regent McInally, who died on August 22, 1964 (p. 473).
The minutes of the meeting of October 23, 1964, were approved with
certain specified changes.
The report on investment transactions, which was accepted and Investment
placed on file, is summarized below (p. 545): Transactions
Bonds Purchased Cost
U. S. Treasury issues................................... $1,260,010.25
Government agencies.................................. 1,501,141.75
Others (nongovernment)................................ 2,649,156.75
Total............................................ $5,410,308.75
Stocks Purchased
Common............................................. $ 295,519.10
Stocks Sold Proceeds
Common............................................. $ 523,578.48
Total Amount
Loaned
Mortgage Loans Made..................................... $ 42,600.00
The following Expendable Restricted Fund budgets were reported Expendable
(p. 545): cRestricted Fund
(p. 545): Budgets
Budgets in the amount of $6,915,605 have been initiated for accounts and activities of the Expendable Restricted Fund since the meeting of October 23. The following is a summary of the budgets initiated since the last meeting, and for 1964-65
to date.
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