Proceedings of the Board of Regents (1936-1939)

ANNUAL JUNE MEETING, 1938

555

of the first fellowship, from July 1, 1938, to June 30, 1939. A successor to Dr.
Daniel Melnick, the present holder of the second fellowship, will be named later,
for the period from September 1, 1938, to August 31, 1939.
The following letter with a check for $825 was received and the
James W. Glover Scholarship in Actuarial Mathematics was established
accordingly, with a vote of thanks to the group who have made the
contribution:
In recognition and appreciation of the long and valuable service rendered to
the University of Michigan and its students by Professor James W. Glover in the
field of mathematics and actuarial theory, his former students have accumulated
the nucleus of a fund with which it is proposed to establish an annual scholarship
award to be known as "The James W. Glover Scholarship in Actuarial Mathematics," in accordance with the following rules:
One recipient of the scholarship award for each university year is to be chosen
during the previous year by a Committee of three members of the Department of
Mathematics duly elected for that purpose by the Executive Committee of that
Department, or the administrative successor or successors of such Committee should
it cease to be. The first such recipient shall be chosen for the University year
1939-1940. The choice of this Committee shall be the applicant who in their
opinion possesses the greatest degree of general fitness for and promise of success
in the actuarial profession, taking into consideration, in addition to others, such
qualities as scholastic ability, personality, and progress made in the joint examinations of the Actuarial Society of America and the American Institute of Actuaries.
The recipient of the scholarship award shall be entitled to the payment from the
fund of his tuition for one year in either the Horace H. Rackham School of Graduate
Studies or the School of Business Administration at his option. Principal as well
as interest of the fund may be used for this purpose if necessary.
In order that an applicant may be eligible for consideration by the Committee,
he must be in residence at the University of Michigan and must have completed or
expect to complete by the end of the University year in which he applies (1) all
requirements set by the University for the Bachelor of Arts degree; and (2) all
prerequisites for the course now known as Mathematics 221.
The recipient of the scholarship award, during his tenure of scholarship, shall
be required to elect the courses now known as Mathematics 221 and 222.
In the event that, in the opinion of the Regents, the need for this scholarship
fund should pass out of existence with the passage of time or not require all of the
principal and income provided, then the said Regents are hereby expressly given
authority and charged with the duty to use the said principal and interest or so
much of it as in their discretion may seem for the best advantage of the University,
for other purposes allied to or in harmony with the spirit and purpose of this fund
as above expressed; or if such approximation of the specific purpose is in the discretion of the Regents inexpedient or impractical then and in that event the Regents
shall use the principal and interest for whatever educational or University needs they
may see fit, as trustees of the University in general and of this fund in particular,
since it is the purpose and intent that the principal and interest shall not lie idle and
useless but shall be active and useful in contributing currently to the benefit of
mankind through education.
A check for the funds accumulated to date is enclosed. It is to be hoped that
this fund will be increased in the future in order that this scholarship may be placed
upon a permanent basis.
June 2, 1938
W. F. Poorman A. J. McAndless
Oliver W. Perrin Ralph R. Lounsbury
Wendell P. Coler Walter 0. Menge
For the Committee
The following letter with a check for $625 was received and the
Margaret Mann Scholarship in Library Science was established accordingly, with a vote of thanks to the group who have made the contribution:
The University of Michigan Library Science Alumni Association, the Ann Arbor
Library Club, associates, and former students of Professor Margaret Mann, a
member of the staff of the Department of Library Science from 1926 until her
retirement in June, 1938, desire to establish a scholarship in her honor.