university of illinois - UIHistories Project

i957l UNIVERSITY OF ILLINOIS 905
with the highway, was subject to approval by the Executive Committee upon
satisfying itself that the price to be paid the University is a fair valuation, and
that adequate provisions will be made for permanent roadway and temporary
access to the University's property during the period of construction.
The Toll Highway Commission has agreed to pay the Morton Arboretum
$340 for the portion of the University land which the Commission will acquire,
and the trustees of the Morton Arboretum are willing to pay this same sum to
the University. Accordingly, the resolution adopted by the Board on June 20
authorizing the conveyance of this land has been amended to specify this price
instead of the $274.50 originally specified. The University has received assurance
from the State Toll Highway Commission that both temporary and permanent
access to the Drug and Horticultural Experiment Station from Ogden
Avenue will be provided.
The Executive Committee has authorized the conveyance of this property.
This report was received for record.
SALE OF SECURITIES
Mr. Swain, for the Finance Committee, offered the following resolution,
and moved its adoption:
WHEREAS, the Board of Trustees of the University of Illinois is the owner
of the following stocks:
8 shares Burlington Industries 4 per cent Pfd.
8 shares El Paso Natural Gas 4.10 per cent Pfd.
I share Hammermill Paper 4% per cent Pfd.
6 shares Household Finance 3^ per cent Pfd.
9 shares Marshall Field & Co. 4% per cent Pfd.
I share Montgomery Ward $7 Class A Common
1 share National Cylinder Gas 4 J /i per cent Pfd.
2 shares Virginia Electric & Power $5 Pfd.
29 shares American Tobacco Common
26 shares Swift & Co. Common
16 shares J. C. Penney Common
45 shares Commonwealth Edison Common
13 shares Northern Illinois Gas Co. Common
12 shares Public Service Co. of Indiana Common
and, the Finance Committee of said Board has determined that it is advantageous
to sell the above listed securities,
Now therefore be it resolved by the Board of Trustees of the University
of Illinois that these securties be sold and that H. O. Farber, Comptroller, and
A. J. Janata, Secretary, be authorized to execute all documents necessary to
complete such sale.
This resolution was adopted.
EMPLOYMENT OF ARCHITECTS
Mr. Williamson, Chairman of the Committee on Buildings and
Grounds, reported that the Committee at a meeting held on September
19, 1957, received reports and recommendations from the Director of
the Physical Plant Department and the President of the University for
the employment of architects as follows:
Art Museum
Ambrose M. Richardson and Associates, Champaign, for the design work
only, on the basis of actual cost of services of personnel employed on this
phase of the work and office expenses, plus 75 per cent of said cost as
commission, but not to exceed a maximum payment of $4000;
Mittlebusher and Tourtelot, Chicago, for the remainder of the professional
architectural services at a fee of 5 per cent of construction contracts.
Institute of Labor and Industrial Relations Building
Graham, Anderson, Probst, and White, Chicago, at a fee of 6 per cent of
construction costs.