03/18/1954

UCCSN Board of Regents' Meeting Minutes
March 18-19, 1954




03-18-1954
Volume 7 - Pages 28-29

                    UNIVERSITY OF NEVADA
                       REGENTS MEETING
                       March 18, 1954

Regents Ross, Grant and Lombardi met in special session on Thurs-
day, March 18, 1954 with Comptroller Hayden and President Stout,
at the Riverside Hotel, Regents Hardy and Crumley were out of
the City.

Lowell Daniels Trust

    Mr. Hayden reported on the Lowell Daniels Trust.  Mr. James
    Hafferon, a life beneficiary under the terms of the Will,
    died on February 4, 1954.  His death left the Trust assests
    available for distribution to the University of Nevada, sub-
    ject to the filing of final account and request for distri-
    bution.  A letter from the Trust Officer asked whether the
    University wishes to take distribtuion in kind or to have
    the assets, as follows, reduced to cash:

        Bonds

            $3500 maturity value U. S. Treasury Bonds 2 1/4%
                due 12/15/62
            $2000 maturity value U. S. Treasury Bonds 2 1/2%
                due 12/15/62

        Stocks

            121 shares American Telephone & Telegraph Company
            224 shares Bank of America, N. T. & S. A.
             60 shares Bethlehem Steel Corporation
              3 shares Blair Holding Corporation
             80 shares The Borden Company
             16 shares Continental Can Company
             50 shares General Foods Corporation
            140 shares General Motors Corporation
             60 shares B. F. Goodrich Company
             86 shares Mathieson Chemical Corporation
            100 shares Natomas Company

        Subject:  Court Trust No. 626-2

            100 shares Nevada Marble Company
             42 shares Pacific Gas & Electric Company
             20 shares Phelps Dodge Corporation
             60 shares Phillips Petroleum Company
             21 shares Republic Steel Corporation
            150 shares Southern California Edison Company, Its.

        Real Estate

            Residence located South and Brown Streets, Tonopah,
            Nevada.  4 room frame structure approximately 30
            years old.  Appraised.

                Land                   $ 250
                Improvements            2250
                                       $2500

    Mr. Hayden explained that, under the terms of the Will,
    $2750 is due the Catholic Church in Tonopah, Nevada.  Court
    and closing costs also are to be paid out of the Estate.

    Motion by Mr. Grant carried unanimously that the Trust Of-
    ficer for the Estate be informed that the Regents request
    that the house in Tonopah, Nevada, be sold; that the desig-
    nated sum be paid to the Catholic Church in Tonopah; and
    that Court and closing costs be paid.  It was further moved
    and carried unanimously that the list of stocks and bonds
    be turned over to the committee appointed to advise the
    University on investments (minutes of February 8, 1954) with
    the request that the committee list the securities in the
    order of their value, with recommendations for holding or
    disposing of them.

Student Union Building

    Letters were presented from the Student Committee and the
    Faculty Committee approving the architect's drawing of the
    Student Union building (Regents minutes of March 12, 1954).
    The letter from the Faculty Committee contained the follow-
    ing paragraph, however, in which the Regents assembled con-
    curred:

        The plan as it now exists would appear to call for the
        excavation and the rearrangement of the boiler room
        under the auditorium as an alternate.  It is our feeling
        that it would be preferable to invite bids on the ex-
        cavated arrangement and to call for the unexcavated
        arrangement as an alternate.  We may arrive at the same
        result in either case, but it is our feeling that it
        would be preferable to indicate that the excavated ar-
        rangement was most to be desired.

    It was agreed unanimously that the Planning Board be in-
    formed of the general approval of the two committees and
    also of the above suggestion and the concurrence of the
    Board of Regents in the suggestion.

The meeting adjourned at 1:25 P.M.