UA-R-GC-1914-01-01-1972-10-18_Page-057

-2- Happily, we have been able to persuade AID to hold the $950,000 grant available until May 15. Until then every effort will be made in Cairo to obtain either the "two schools" site originally contemplated, or the more preferable Lycee property which has recently become a possibility. Failing acquisition of either of these two sites by May 15, we intend to propose building the library on property already owned by the University and cur­rently occupied by the Division of Public Service. Under this plan, the DPS would be relocated to a nearby site which is avail­able but unsuitable for the new library. It is felt that placing the library on land we own, even if it means removing an existing building, would be preferable to losing the grant, perhaps per­manently. AID has also agreed to sever the issue of library site acquisition from that of investment of our LE endowment. This is significant because negotiations with Holiday Inns and others are proceeding more rapidly than anticipated. I wish to thank you for returning so quickly the question­naire about the 1974 Nile Cruise. Arrangements are proceeding apace and I'll keep you posted. The next meeting of the Board of Trustees is being called for May 16 at 10:30 a.m. at The Recess, 60 Broad Street, New York City. Kindly complete and return the enclosed card at your con­v~ nience. With best wishes, (j~~ Charles O'Connor Enclosure