Investing Carlisle Athletic Association and Restaurant Funds

Carlisle Indian School Superintendent John Francis Jr. informs the Commissioner of Indian Affairs that the Carlisle Athletic Association has $4,000 and the restaurant has nearly $1,000. He states that because these are "independent corporations," money from these two sources does not come directly to the superintendent and is instead deposited directly into banks. He asks the Commissioner for permission to invest most of the money into the Liberty Loan at a higher interest rate than that of the banks'. 

Assistant Commissioner E. B. Meritt gives Francis permission to invest the funds in liberty bonds if he has approval from the Athletic Association.