03/11/1981

UCCSN Board of Regents' Meeting Minutes
March 11-12, 1981








03-11-1981

Pages 69-70

                          BOARD OF REGENTS

                     UNIVERSITY OF NEVADA SYSTEM

                           March 11, 1981



The Board of Regents met in special session on the above date in

the William Carlson Education building, University of Nevada, Las

Vegas, for the purpose of considering emergency investment rec-

ommendations.



Members present:  Mr. John Mc Bride, Vice Chairman

                  Mr. James L. Buchanan, II

                  Mrs. Lilly Fong

                  Mr. John Tom Ross

                  Mrs. June Whitley



Members absent:   Mr. Robert A. Cashell, Chairman

                  Ms. Frankie Sue Del Papa

                  Mrs. Dorothy Gallagher

                  Mr. Chris Karamanos



Others present:   Mr. Monte Miller, Valley Bank

                  Mr. Lee Scholey, First National Bank of Nevada



The meeting was called to order by Vice Chairman Mc Bride at

3:47 P.M.



 1.  Investment Recommendation from Valley Bank



     Mr. Monte Miller recommended sale of the following stocks

     in order to increase the cash position of the portfolio

     for temporary investments (Treasury Bills or money market

     instruments):

                             Approx.       Approx.      Approx.

     Shrs.  Description       Price         Value     Gain/(Loss)



     2600   Schering Plough   34 3/4      $ 90,350     ($ 7,613)

      700   Honeywell        100 1/2        70,350       15,766

     1400   Philip Morris     47            65,800       12,606



                                          $226,500      $20,759



     Mr. Buchanan moved approval of Mr. Miller's recommendation.

     Motion seconded by Mrs. Fong, carried without dissent.



 2.  Investment Recommendation from FNB



     Mr. Lee Scholey recommended that the following stocks be

     sold and the proceeds invested in Treasury Bills:



         Reynolds Metals          Units                      300

                                  Approximate Price           34

                                  Approximate Value       10,200

                                  Anticipated Income         720

                                  Market Yield              7.05

                                  Gain/(Loss)            (   499)



         International Harvester  Units                      200

                                  Approximate Price           20

                                  Approximate Value        4,000

                                  Anticipated Income           0

                                  Market Yield               .00

                                  Gain/(Loss)            ( 1,456)



         Southern Pacific         Units                      200

                                  Approximate Price           40

                                  Approximate Value        8,000

                                  Anticipated Income         520

                                  Market Yield              6.50

                                  Gain/(Loss)              1,437



         Total                    Approximate Value       22,200

                                  Anticipated Income       1,240

                                  Market Yield              5.58

                                  Gain/(Loss)            (   518)



         Main Endowment Fund



         Mc Donald's Corp.        Units                    4,700

                                  Approximate Price           59

                                  Approximate Value      277,300

                                  Anticipated Income       3,760

                                  Market Yield              1.35

                                  Gain/(Loss)             83,754



         Merrill Lynch            Units                   10,600

                                  Approximate Price           33

                                  Approximate Value      349,800

                                  Anticipated Income      11,872

                                  Market Yield              3.40

                                  Gain/(Loss)            125,573



         Philip Morris            Units                    5,500

                                  Approximate Price           47

                                  Approximate Value      258,500

                                  Anticipated Income      11,000

                                  Market Yield              4.25

                                  Gain/(Loss)             65,142



         Pacific Gas & Elec.      Units                      50M

         PV 12 3/4% due 2-1-13    Approximate Price           88

                                  Approximate Value       44,000

                                  Anticipated Income       6,375

                                  Market Yield             14.48

                                  Gain/(Loss)           (  2,125)



         Texas Instruments        Units                      50M

         PV 12.70% due 2-1-05     Approximate Price           93

                                  Approximate Value       46,500

                                  Anticipated Income       6,350

                                  Market Yield             13.65

                                  Gain/(Loss)           (  2,187)



         Total                    Approximate Value     $976,100

                                  Anticipated Income      39,357

                                  Market Yield              4.03

                                  Gain/(Loss)           $270,157



     Anticipated income from the Treasury Bills is 14 1/2%.



     Mrs. Whitley moved approval of Mr. Scholey's recommenda-

     tions.  Motion seconded by Mrs. Fong, carried without

     dissent.



The meeting adjourned at 4:00 P.M.



                             Barbara J. Summers

                             Assistant Secretary of the Board

                                                       03-11-1981