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Show wi§53 and nag Ballifig fiths per cent outstanding bonds dn "fiéafiinmn, EB repartea that.he Baa made a preposition to the _xmgmflgtzonal Hank, wfiiah bank 13 holding the Union Builfling A I Aida hearing 5% per Bani infierest Ballable April 15, 195?, that Qany'ymanntarily Burrénaar tan.for a refunfiing issue bBaBiBg 3 Q B Bamfi.xntareat, and that thB bank bB-paid the differenue.between fi‘B53.and,5§ per Bent interest until Bpril 15,1193? Bth the bonds lfiflmrfifillfiblgw He stated that the bank baa declined this propbsal, BBQ had mafia a saunter offer on a refunding issue of 4 per cent, BBQ ha ffilt the interest rate was too high, Baa that it would be BBB! BB Bet the matter rest until next year when the bonds were B15, a5 they could probably be issued at a lBBer rate of anBaBBatB 1% was the consensus of opinion of the Board that the BBBBiéBnfi'a choBmBndation in the matter be fBlIOBed. ' The President Btated that under the Fifth Provision flQ tbs BBBBlutian adopted by the BBBrd of Regents Sept. 10, 1923, 'w BBB; annuities, Professor J. G. Thomas of the Chemistry dfin‘ BBS, now sixtyaeight years of age, "Bni at this academic year. should be retired at the However, Professor Thomas th been 5a seed teacher, and an excellent member of the aligibility Coma Qlfitfiae;.his health is good 31a he has no income other than his ABfllary, and would like to continue a year or two lcnger. On thfl‘ ¥ hand. the haafl of the Vthistny flBparthnt fBBlB that due- ‘Efig Pmtaaaiori homa' age and his lack of proper training; earlier if; M1QQe. that it would be better to rBalacB him by a younger and ‘ itamfltrfiinad Banqthfter B discusa1on, on motion of Regext thataen, ascended by Regent Galligan, the B0vrd_decided to |
