Minutes of the
Informal Meeting
of the
BOARD OF TRUSTEES
January  15,  1970

The Board of Trustees  convened in informal  session at Kellogg Center at 6:30 p.m.
All Trustees were present.

Remarks by 
j
Pres. Wharton j
re relationship
with Board  '•

The President opened  the meeting  indicating  that he had a few comments to make to the
Board in view of the fact  that this was his first meeting with the Trustees as their
President.  He indicated he wanted to be open and frank with the Board/  He further
stated he would  like to give background  information on a number of critical issues on
the campus, and that in all of his dealings with the Board and University personnel he
wants to do what is in the best interest of the University.  He further indicated  that
he would be happy to make his presentation open to the press if the press would  consider
it background  information only.

Portions of
informal meet-
ings to be
open to press

After a lengthy discussion with all of the Board members participating, it was agreed
that future informal meetings of the Board on Thursday evenings would be open to the
press when dealing with certain items  that the Board wishes to have discussed with the
press present.  There was a consensus  that there are certain items  that are important

I  for the Board to discuss by themselves.  It was agreed  that in the future the Board
i  members would be contacted  approximately two weeks prior to the next Board meeting and

polled as to what items they wished to have discussed in an open meeting.

I  After this matter was resolved, the press was invited in.

Report by Exec!
Vice Pres. on 
All-Events  Bldg.  place on the campus during the past week relative to the All-Events' Building.

Executive Vice President Breslin reported to the Board on the discussions  that had taken

Dr. Wharton
expresses need
for review of
admission policy
Discussion re
selection of
Oakland Univ.
Chancellor

Dr.. Wharton  then reviewed for the Board  some of the concerns  that he had picked up on
the campus in his visits with many  segments of the University.  There seemed to be a
consensus  that a review of the admissions policy was in order.

The press was then asked to leave, and the Board discussed at some length the procedure
to be followed in appointing the Chancellor at Oakland University.  A group  from Oakland
University presented to the Board  statements in support of Dr. Donald  O'Dowd.

After the presentation by the Oakland delegations, the informal meeting of the Board
was  adjourned.

MINUTES OF THE MEETING
of the
FINANCE  COMMITTEE
January  16,  1970

President Wharton 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, Thompson, and White; President Wharton, Acting Vice President Wilkinson,
Executive Vice President and Secretary Breslin, Provost Cantlon, Chancellor Varner,
Assistant to the President Ballard, and Attorney Carr.

Absent:  No one.

Investment
recommendations:

1.  Scudder, Stevens & Clark and the Ann Arbor Trust Company have recommended  that no

investment  changes be made this month.

On motion by Mr. Nisbet, seconded by Mr. Thompson, it was voted to accept the above
recommendation.

Report of sale
of stock

2.  The 2 shares of Reichhold  Chemicals, Inc. stock  submitted for acceptance in item 7-h,

Gifts and Grants, page  6671,  have been  sold for a net amount of $22.48.

James S. Holden  3.
gift to be trans-
ferred to Hannah
Professorships
account

On January  19, 1966, the Board of Trustees accepted a gift  from James S. Holden in
the amount of $100,000 to be used for some University  purpose as approved by
President Hannah.  In a recent review of our gift and grant accounts, it was noted
that President Hannah had not made an official  recommendation as Co the use of these
funds.  Dr, Hannah has recently been  contacted and concurs in the recommendation  thac
the balance of $113,764.57 be transferred  to the John A. Hannah Professorships account.

On motion by Mr. Merriman, seconded by Mr. Nisbet, it was unanimously  voted to approve the
above recommendation.

Final appropri-
tion to Search
and  Selection
Committee

4.  A final  statement of the All-University  Search and Selection Cornrr.lc.Lee account  shows

an overdraft of $1,903.31, which' reflects . che additional  tin>e the consxicceo worked  with
the resulting  secretarial  help, and some  travel  expenses.  The total  expenditures ot  che
committee .were $10,467.27.  It was re contended  chat an appropriation  be,  rade  to- cover
this overdraft and that the account be closed and audited.

On motion by Mr-  Hartman, seconded by Mr. Stevens.
appropriation and procedures as reeozmended  above.

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