Moved by Miss Cornwell seconded by Mr. Werner that Mr. Klooz's report
be accepted. Carricde

4 report on operations at the Union and plans for inclusion of a stu-
dent book store as well as plans for building an addition to the north was given
by Mr. Wernere

In regard to opening the book store, Messrs. Stewart and Hill inquired
about the rate of interest to be charged, the scourity to be put up by the book
store, the operating committee's authority to make such a loan and the rental
provision to be made with the book store. Mr. Werner informed the Board that the
interest rate had not yet been worked out, that proper security arrangements
would bo made so that the Union could have control if the enterprise did not move
forward satisfactorily, that rental provisions had not been drawn up, but they
would be based at least partly on profits made by the book store (he said that
in a survey of 21 student book stores, it was found thot the profits ranged from
12% to 15%.) It was agroed that authority for making the loan should be voted
by the Executive Committee before the loan is actually made and the provisions
drown Upe

Moved by Mr. Jones, seconded by Dre Allen, that Mr. Werner's report
be accepted. Carricd.

Mr. Werner showed architect's drawings of the proposed addition to
the north of the Union providing 3600 squaro fect of additional floor space plus
about one third that much more for additional kitchen facilities. All of this
was to be a oneestory structure built of concrete and concrote blocks to be faced
with brick to match the present structure, when brick is availablee Mre Werner
advised of efforts being mode to get that ready by the opening of school in the
fall. Costs, according to the state architect, would be something less than
$100,000.

In addition to the surplus accumulation on hand at the present, he
advised of a greatly increased income to be received from increased student fees
of $5 a semester.

Lfter discussion, it was moved by Mre Jones and seconded by Dre Allen
that the Board authorize o Union Operating Committee to proceed with construction
of the unit described by Mr. Werner, subject to arrangement of a financial plan
which will be accepted by the Memorial Corporation officers and University of-
ficials. Carriede

Ldjournment on motion of Mre Boumgartner.

Signed —
Secretary