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[18]

Part of Minutes of the University of Kentucky Board of Trustees

MM=uTES OF THE BOARD OF TRUSTEES not stint the institution which is useful to them. Kentucky is entitled to the greatest agricultural college in the world, and when our institution shows its worth to the State the funds will be forthcoming for everything it needs. We must then be urp and doing to disseminate among the farmers all that they need of scientific agri- cultural knowledge. You will be pleased to know that we have at last obtained an accurate and scien- tific financial system for the University0 The Budget System is working admirably; each of you has received a blue print statement of the financial condition of the University. This statement shows that of the whole annual income of the University $194271.66 was distributed among the various departments; that these departments are all living within their incomes and that there will be an unexpended balance of $9346.95 at the end of the fiscal year. I commend to each of you a careful scrutiny of the statement as it shows accurately the financial condition of the University. I regret to report a loss by fire in the private office of Professor F. Paul Anderson, Dean of Mechanical and Electrical Engineering, The loss is completely cover- ed by insurance, and the insurance companies have paid into the treasury $3100, which will enable us to restore the office in every way as it was before the fire. Professor Anderson himself sustained a loss of a sentimental value, which, of course, cannot be either paid for or replaced, and in his loss he has the sympathy of all his friends. The fire was undoubtedly the act of an incendiary but so far as I know there is no legal evidence which points to the guilty party or parties. The matter is in the hands of the lawful authorities, who, I believe, are doing their full duty in the premisss, and I shall make no comment but leave it wholly to them. It goes without saying, how- ever, that I shall give them every assistance in my power to bring the guilty to punish- ment. In conclusion permit me to say that I believe this University is just starting on a great growth and that if its affairs are managed wisely and unselfishly in the in- terest of the Colmonwealth and the students the time is not distant when it will take Decenber 12), 1912

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