UA-R-GC-1914-01-01-1956-01-20_Page-009

2u-21 Jan '56-page 6. Treasurer, or Samuel Thorne, Assistant Treasurer; payment to be approved on the check by Miss Anna Lister, Comptroller. THAT action on item 0 above be rescinded since Hr. Thorne is unable to serve. TEAT action on S, part two, be rescinded and the following substituted THAT any two of the following officers be authorized to sign checks on the First National City Bank of Now York, one of-ficer to approve payment in each case: T. J. Gillespie, Jr., Treasurer, Joseph M. Steele, Honorary Treasurer, C. Worth Howard, Educational Secretary, Anna Lister, Comptroller, and THAT the Secretary be authorized to furnish the First National City Bank of New York the necessary resolution certifying to the above action. 804 SALARY TO Dr. Horton read letter from Mr. Madison in which he reported WARD N. MADISON that he had been employed as of January 15th with a commit-tee of the General Assembly of the Presbyterian Church as its executive. After discussion, it was voted THAT the Board of Trustees has considered the arrangement made with Ward N. Madison, former Executive Secretary of the Board of Trustees, and records with pleasure, as per his letter dated January 12th, his employment with a committee of the General Assembly of the Presbyterian Church and termin-ates the leave of absence and staff association as of Jan-uary 15;, 1956, having extended his lave of absence for the period December 1, 1955 to January 15, 1956, and THAT accumulations to Mr. Madison's account in the Sun Life Assurance Company of Canada group pension plan be made avail-able to Mr. Madison and that he notify the Sun Life Assur-ance Company of his choice of either a cash payment to him of the accumulations or of his desire to purchase an annuity in his own name. 805 EDUCATIONAL GRANT The Board ratified circular action by the Finance Committee TO FACULTY MFI BERS as follows: THAT a direct grant of L.E.100 per year be paid to perman-ent faculty members of the University as educational allow-ance for each child of school ago. 806 RATE OF E "CHPNGE Council, through the President, makes unanimous recommen-dation to the Board of Trustees,