Proceedings of the Board of Regents (1936-1939)

938

SECOND MAY MEETING, 1939

40 M Royal Oak Township, Oakland County, Michigan, School District No. 10,
Refunding, Series "B," 2% to April 1, 1940, 22% to April 1, 1942, 3/2%
to April 1, 1946, 4% to April 1, 1951, 5% thereafter, dated June 1, 1937,
due April 1, 1966. Sold at 45, current return, 4.44%. Book value,
$20,400.00; sales price, $18,000.00; loss, $2,400.00. Not rated.
$2,500.00 Royal Oak Township, Oakland County, Michigan, School District No.
10, Certificate of Indebtedness (Bearer Form), without interest, 5% after
maturity. Sold at 50 flat. Book value, $1,250.00; sales price, $1,250.00.
Not rated.
2 M Taylor Township, Wayne County, Michigan, School District No. 5 of, Refunding, 3 2% to and including August 1, 1941, 4% to and including August 1,
1944, 4'2% to and including maturity, dated August 1, 1936, due August 1,
1966. Sold at 90, current return, 3.89%. Book value, $1,600.00; sales price,
$1,800.00; profit, $200.00. Not rated.
The Board voted an additional honorary degree to be conferred at
Commencement, 1939. Regent Beal voted no (p. 920).
Action of the Executive Committee was approved and ratified as
follows (p. 908):
April 13, 1939
Present: President Ruthven and Regent Beal.
At the request of Samuel W. McAllister, Associate Librarian, the committee
appropriated the sum of $500 as an addition to the Salary account of the budget
of the General Library, to meet necessary expenses for the remainder of the present fiscal year.
Actions of the Operating Committee were approved and ratified as
follows (p. 908):
April 22, 1939
The committee placed, through the Detroit Insurance Agency, a policy against
thefts in University buildings, and appropriated the cost of the annual premium,
namely, $275. The total coverage is $10,000 with $25 deductible in addition to
the protection. We hope to have some benefit from the services of the Agency
and the Insurance Company in preventing thefts and in detection and recovery of
the property if thefts occur.
April 25, 1939
At the request of Dean Henry C. Anderson, the committee approved the transfer of $300 from that item of the Salaries account of Engineering Administration
allocated to the Dean's Fund to the Traveling Expense account, to provide for
necessary expenditures for the remainder of the present fiscal year.
April 26, 1939
At the request of Dean Albert C. Furstenberg, and with the approval of the
Executive Committee of the Medical School, the following sums were transferred
from Medical Administration, Unapportioned Balances, to provide for necessary
expenses for the remainder of the present fiscal year: $85 to Department of
Roentgenology, Current Expense account, and $50 to Department of Pediatrics,
Current Expense account.
May 1, 1939
The committee, at the request of Dean C. S. Yoakum, added the sum of $500
to the Current account of the Horace H. Rackham School of Graduate Studies, to
provide for necessary expenses for the remainder of the present fiscal year.
May 1, 1939
On recommendation by Professor Lewis G. Vander Velde, the committee approved the transfer of $67.33 from Michigan Historical Collections, Salaries, to
Michigan Historical Collections, Current Expense account, for necessary expenditures for the remainder of the present fiscal year.
May 4, 1939
On advice from Professor Robert S. Ford, Director of the Bureau of Government, that more funds will be necessary for current expense items for the remainder of the present fiscal year, the committee approved the transfer of $600 from
the Research and Publications account to the Current Expense account of the
Bureau.