Minutes of the Informal Meeting
of the
BOARD OF TRUSTEES
December  11, 1969

The Trustees  convened  in informal  session at Kellogg Center at 6:30  p.m.

Present:  Chairman  Stevens, Vice Chairman Merriman, Messrs. Hartman, Martin, Nisbet,

and Thompson; Acting President Adams, Acting Vice President Wilkinson,
Executive Vice President  and  Secretary Breslin, President-elect Wharton,
Provost Cantlon, Assistant  to the President Ballard, Attorney Carr.

Absent: 

Trustees Huff and White.

Report on
budget hearings:

Acting President Adams asked Executive Vice President Breslin and Assistant  to the
President Ballard  to report jointly  to the Board on budget hearings  the University has
had to date.

PresV  salary
and expenses
discussed  in
executive
session

Following  this discussion, Chairman Stevens asked  that the Board meet: in executive  session
with President-elect Wharton for the purpose of establishing  the President's  salary and
other expense items relative  to the President's Office  so that official action on these
items could be taken at the regular meeting of the Trustees on Friday, December 12.

MINUTES OF THE MEETING

FINANCE  COMMITTEE
December  12, 1969

Acting President Adams called  the Finance Committee  to order at 7 a.m.  at Kellogg Center.

The following members were present:  Messrs. Hartman, Huff, Martin, Merriman, Nisbet,
Stevens and Thompson; Acting President Adams, Acting Vice President Wilkinson, and
Executive Vice President and Secretary Breslin.

Absent:  Mr. White.

Others attending were:  President-elect  Wharton, Chancellor Vamer,--Provost  Cantlon,

I Attorney  Carr, Messrs. Elliott Ballard  and Byron Brown. 

•

Investment 
recommendations 

1.  Investment recommendations  from Scudder, Stevens & Clark and Mr. Earl Cress, as

follows:

Forest Akers Golf Course Fund

Amount 

Security

Recommend  selling:

Approx.
Price

Principal

Income

Yield

$10,000 

Federal Land Banks 5% 1/22/79

$  81

$  8,100

$  500 

7.70%

Recommend  purchasing:

Up to
$12,000 

General Motors Acceptance

Corp. 4%%  11/1/85

A, H. & S. A. Case Fund

Recommend  selling:

$20,000 
j ':  \:,y^:.. 
$10,000 

Federal Land Banks 5-3/8%.'

7 / 2 0 / 16 

; i!.::j::|;: :;:::;:: 
Pacific Gas & Electric

3-3/4%  12/1/78

..^•'••;/x

Recommend  purchasing:

66

7,920

- 540

8.40%

87

72

17,

400

7,

200

1,075

7

.657c

375

8

.207c

Up to
$35,000 

General Motors Acceptance

66

23,100

1,575 

8.407o

Corp. 4%%  11/1/85
(making  $50,000)

Albert  Case Fund

Recommend  selling:

$30,000 

U.S. Treasury Notes

5%  11/15/70

$5,000

U.S.  Treasury  Bonds
4-1/8%  11/15/73

Recommend  purchasing:

97

88

29,100

1,500 

7.937c

4,400

206

7.677,

Up to
$50,000 

General Motors  Acceptance

66

33,000

2,250 

8.407o

Corp.  4%7o  11/1/85
(making  $60,000)

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