university of illinois - UIHistories Project

1957] UNIVERSITY OF ILLINOIS 377
Aermotor shares in whole or in part, (b) the continued operation of Aermotor
Corporation or its merger with or into any other corporation or corporations,
and (c) the sale or liquidation of all or part of the business and assets of
Aermotor Corporation.
The administrative trustees would receive no compensation for their services
but would be entitled to be reimbursed for all costs and expenses incurred
in the administration of the administrative trust estate and would be relieved
for mistakes of law or of fact, or for errors in judgment in exercising the
powers conferred upon them except for individual malfeasance.
The agreement would terminate on February 28, 1962, unless prior to that
date a sale of, or full liquidating distribution on all Aermotor shares should
occur, in which latter event, the agreement would terminate 120 days after the
payment of the purchase price or receipt of the final liquidating distribution.
Within at least thirty days prior to the termination of the agreement, the
administrative trustees would make distribution ratably to the colleges, in accordance
.with their respective fractional interests in the trust estate, of all
money and property remaining in the administrative trust estate after payment
of all costs and expenses of the administrative trustees or provision therefor.
I recommend (a) that the proposed agreement, a copy of which is presented
at this meeting, be approved and the President and the Secretary of the Board of
Trustees be authorized to execute the same; and (b) that H. O. Farber be
authorized to act as an administrative trustee in accordance with the terms
thereof.
On motion of Mr. Herrick, these recommendations were approved.
PETITIONS FROM STUDENTS AND STAFF REGARDING
ASSEMBLY HALL
(24) The Secretary of the Board has received petitions signed by a number
of members of the faculty and students relating to the general form of the
Assembly Hall and the facilities to be provided for therein. The text of the
resolution is submitted herewith and a copy will be filed with the Secretary for
record. The resolution was circulated for signature prior to the Board of
Trustees meeting on March 12, but was received too late for presentation to
the Board at that meeting. While the petitions were in circulation, The Daily
Illini published an excellent statement by Professor Norman A. Parker, Chairman
of the Building Program Committee, concerning the Assembly Hall project
which has clarified most, if not all, of the questions in the minds of the petitioners.
Nevertheless, their petition is submitted herewith together with a statement
by Professor Parker.
On motion of Mr. Swain, this petition was referred to the President
of the University.
PURCHASES
Purchases Authorized
(25) The following purchases were authorized by the President's Office on the
recommendation of the Director of Purchases and the Vice-President and
Comptroller.
Item Department Vendor Cost
250 Western Electric type GA-53233 Digital Western Electric Co., $10 000 00
transistors Computer New York, N.Y. f.o.b.
Laboratory Laureldale,
Pa.
3,000 copies of Contemporary Farmhouses University Press Interstate Printers & 3 587 00
(reprint) Publishers, Inc., f.o.b.
Danville delivered
The following purchases were approved by the Vice-President and Provost, acting
for the President, pursuant to authorization by the Board of Trustees to act on
recommendations for purchases under International Cooperation Administration
Contracts. All of these purchases will be from funds supplied by the I.C.A. under
its contract with the University for educational services to institutions of higher
education in India.
Item Department Vendor Cost
Twenty-eight pieces decade capacitor International Freed Transformer Co., 3 4 266 00
and inductor equipment Cooperation Brooklyn, N.Y. f.o.b.
Administration Brooklyn,
Contracts N.Y.