UA-R-GC-1914-01-01-1972-10-18_Page-001

· . THE AMERICAN UNIVERSITY IN CAIRO Minutes of the Meeting of the Board of Trustees October 18, 1972 The Recess, New York City Present: Mrs. Hammond, Mrs. Lord, Mrs . Reed, Messrs. Aldrich, Battle, McCloy, Simpson, Thorne (Chairman), Thoron, Van Vleck, Yost, and Mr. O'Connor as Executive Secretary. The meeting was called to order at 11:10 a.m . by the Chairman, Mr. Thorne. I. The Agenda was adopted without modification . II. The Minutes of the previous meeting were approved as presented. III. Egyptian Pound Endowment Fund - Report . The Chairman gave the history of the Fund and reported on the pre-sent status of negotiations with the Egyptian National Bank and the Agency for International Development relevant to prospective investment of a portion of the Fund . Mr. Thorne recalled the meeting in London attended by Ambassador Battle and himself for AVC and Drs. Kaissouni and Abdel Hamid for the Bank. The meeting resulted in a recommendation, subsequently approved by the Board and by AID, that AVC retain the Bank for a fee of LE 50,00