Proceedings of the Board of Regents (1963-1966)

July Meeting, 1965
THE UNIVERSITY OF MICHIGAN
ANN ARBOR, JULY 23, 1965
The Regents met in the Regents' Room at 10:00 A.M.
Present, the President and Regents Matthaei, Briggs, Cudlip. Power,
Murphy, Brablec, and Goebel. Regent Sorenson was absent. VicePresidents Heyns, Pierpont, Norman, Cutler, and Radock and the Secretary also were present. Executive Vice-President Niehuss and VicePresident Stirton were absent.
The minutes of the meeting of June 18, 1965, and of the special
meeting of July 9, 1965, were approved with certain specified changes.
The report on investment transactions, which was accepted and Investment
placed on file, is summarized below (p. 869): Transactions
Bonds Purchased Cost
Government agencies................................... $1,899,078.13
Others (nongovernment)................................ 5,894,241.64
Total............................................ $7,793,319.77
Stocks Purchased
Common............................................. $ 267,136.40
Preferred............................................ 1,035.00
Total............................................ $ 268,171.40
Bonds Sold Net Proceeds
U. S. Treasury issues.................................. $1,547,837.24
Government agencies................................... 1,499,531.25
Others (nongovernment).............................. 236,733.22
Total............................................ $3,284,101.71
Stocks Sold
Common, including rights.............................. $ 284,577.39
Preferred............................................ 500.00
Total............................................ $ 285,077.39
Total Amount
Loaned
Mortgage Loans Made..................................... $ 565,835.00
The following Expendable Restricted Fund budgets were reported Expendable
(p. 869): *Restricted
Fund Budgets
Budgets in the amount of $10,045,568 have been initiated for accounts and
activities of the Expendable Restricted Fund since the meeting of June 18. The
following is a summary of the budgets initiated since the last meeting, and for
1965-66 to date.

907