March 18-19, 1954
Volume 7 - Pages 28-29
UNIVERSITY OF NEVADA
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
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:
$3500 maturity value U. S. Treasury Bonds 2 1/4%
$2000 maturity value U. S. Treasury Bonds 2 1/2%
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.
Residence located South and Brown Streets, Tonopah,
Nevada. 4 room frame structure approximately 30
years old. Appraised.
Land $ 250
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-
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.