UA-R-GC-1914-01-01-1972-10-11_Page-001

October 17, 1972 THE AMERICAN UNIVERSITY IN CAIRO Minutes of the Meeting of the Executive Committee of the Board of Trustees Wednesday, October 11, 1972, 10:30 a.m. At the River Club, New York City Present were Mrs. Sanders and Messrs. Bickford, Crary, Payne, Thorne, Thoron, Yost and O'Connor as Executive Secretary. The meeting was called to order at 10:40 a.m. by Mr. Crary, Chairman of the Executive Committee. I. Egyptian Pound Endowment Fund - Proposal for Immediate Investment Mr. Thorne reported to the Committee on a meeting on Friday, September 29 attended by Mr. Black and himself for AUC and Drs. Kaissouny and Nazmi Abdul-Hamid for the Egyptian International Bank. The Bank representatives recommended very strongly that AUC purchase as soon as possible as much real estate as feasable in Cairo. The reasons given for this recommendation were that land prices in Cairo have taken a sharp turn upwards and that this rise is expected to