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Show 25 other governing board or body of the University of Utah located at Salt Lake City in said stete, es an endowment fund in the maintenance of the mining school of suid University in such manner as such board or governing body may determine. without destmihggor intending to control the Judgment end discretion of such board, or other governing body, it is my suggestion that such income, earnings, and profits be used to aid in the acquisition and maintenance of equipment for such lining school." Some litigation arose pending the decision of which the trust company held all income end at its close distributed the intereSt accruing to the various beneficiaries. The Univ- ersity received $13,588.69, $6,068.71 of which was, by egreement, placed to the original bequest to make it up to $50,000 Seven thousand five hundred enacteen ~nd 98/100 Dollars was paid to the University of Utah end placed in the Beseret Savings Bank} On Key 12, 1919, the Board of Regents decided to use the income from the Fund for a Research Libr-ry for the Utah Engineering Experiment Station, including the metallurgical Research Department, end the funds accrued, and the accruing from said Endowment Fund have been used for that purpose. The amount received each year from the Trustees Varies slightly, but it is about $1960.90; the interest on the Sevings deposit averages eptroximetely $250.00 per annum. There wee, Junaho, 1925, a balance in the Savings account of $7566.e6. Against this, however, the University has purchased books amounting to shout $2200.00, ehich amount will be nithdrenn from the account at the next interest period, October 1, 1925. THE JOHN R. PARK FUHD Dr. John B. Perk bequeethed his entire estate to the University of Utah to establish (1) The Park Library of American Histroy and Literature, end (2) The John E. Park Teachers Fellowship. After some litigation the final amount in each of these funds was: Park Library Perk Fellowship _ $12,500.00 27,500.00 These funds are invested as follows: Draper Irrigation 6% Gold Bonds, per value ~ - - $7,500.00 Oekdele " s: Bonds, par value ------ 5,000.00 $12,500.00 |
