# LCMS Convention Proceedings_St. Louis Missouri_1944_S878
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

FINANCIAL MATTERS 295

affect the real estate and building situation. We trust that the
resolution will remain in force.

10. Several memorials were before the last Synod to reduce
the teaching load of Dr. W. A. Maier, so that he could give more
time to the Lutheran Hour broadcasts. (Proceedings, 1941, p. 39.)
’ This matter was turned over to the local Board of Control and the
Board of Directors. After a number of joint meetings had been
held, it was agreed that Dr. Maier be given a two-year leave of
absence as professor in absentia, in order that he might devote. his
full time to the interests of the Lutheran Hour.

11. Through its Advisory Board for Valparaiso University the
Board kept in close, sympathetic touch with this our only Lutheran
school for higher learning. Reports were submitted from time to
time. Every year the Board gave permission for a congregational
collection for Valparaiso, without putting on a high-pressure
campaign. We are glad to note that the scope and amount of these
collections have increased from year to year. In March this year
permission was sought and granted to put on a debt elimination
campaign to wipe out the indebtedness of $300,000.00, which is
hampering the work of the University. This was not to be a con-
gregational collection, but was to be collected through individual
contributions to be solicited from the 40,000 readers of the Valpa-
raiso Bulletin and through the gifts of larger contributors. We
recommend that time will be granted on the convention program
for a report to Synod on the University.

12. Close contact was maintained with Synod’s Radio Station
KFUO. Since the last convention resolved to grant an annual
subsidy of $10,000.00 to KFUO, the Board made this amount avail-
able upon request. We satisfied ourselves that the enlargement
of the Station was carefully financed. The loan made necessary
on account of this enlargement is being retired, as the report om
the Station will bring out.

13. We believe we should, though without the knowledge and
consent of the donor, call attention to the liberal gift of Mr. Henry
W. Horst toward a fund to be set aside for the erection of the

Luther Tower at Concordia Seminary, St.Louis. Originally part:

of this fund was a Scholarship Fund, the income of which, how-
ever, was no longer needed for the intended purpose. The first
donation, totaling $10,000.00, was later increased to $15,000.00, set
up, commencing with February 1, 1942, as the “Luther Tower
Fund.” The earnings of this Fund are ‘to flow into a “Horst
Scholarship for South America Account.” If the Luther Tower
is not built or its erection commenced by February 1, 1962, the
stipulations of the contract are to be null and void, and the money
is'to be set aside by the Board of Directors for such purposes as it