# LCMS Convention Proceedings_St. Louis Missouri_1944_S882
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

FINANCIAL MATTERS — 299

five members appointed from the laity of Synod. Dr. J. W. Behn-
ken has been a member since the beginning. Dr. E. Seuel served
until his retirement as Treasurer of Synod in 1942, when he was
succeeded by Mr. W. H. Schlueter, the present Treasurer.

“T.ay membership on this Board is limited to two successive
terms of three years each, after which there must be a lapse of
a year before the incumbent is again permitted to. serve. Orig-
inally the members were: Messrs. Fred C. Pritzlaff of Milwaukee,
John A. Sauerman and Paul Schulze of Chicago, Walter H.
Schlueter and Richard H. Waltke of St. Louis. In 1938 Mr. Pritz-
laff withdrew and was succeeded by Mr. August J. Luedke of
Milwaukee. Mr. Schulze served Mr. Schlueter’s unexpired term.
from 1942 to 1943. Messrs. Sauerman and Schulze were succeeded.
by Messrs. Emil Harms of St. Louis and C. H. Garbers of Chicago-
in 1942. Messrs. John a Sauerman and Theo. Schroeder — the-
latter of St. Louis — succeeded Messrs. Paul Schulze and Richard:
H. Waltke in 1943. At present the term of Mr. Ludke has expired,.
and Mr. Waltke has been nominated as his successor.

“The duties of the Board of Trustees are to ‘manage, conserve;.
and be responsible for all legacies, bequests, devises, endowments,.
foundations, annuity gifts, and all other trust funds of Synod and!
of Synod’s institutions and activities. During the seven years.
constituting the life of this Board the responsibility of trust has
increased considerably. In April, 1937, the total of trust funds
placed in our care amounted to $3,734,514.59. On March 31, 1944,
this total had grown to $6,263,103.28.

“As all these funds constitute a most sacred trust, we are
determined to surround them with the greatest possible safe-
guards. The L.L.L. Endowment Fund is in the custody of the
Continental Illinois National Bank and Trust Company of Chicago,.
where it is as'safely placed as is humanly possible. The Pension
Fund and Sundry Trusts are placed in safe deposit boxes of the
Mercantile-Commerce Bank and Trust Company of St. Louis,
access to which requires the presence of four men out of seven
appointed for that purpose.

“All the accounting necessitated by these Trust Funds is done
by the Treasurer’s office, and the funds are included in the
Treasurer’s report to the convention of Synod. Section G of that:
report reflects the progress of the Pension Fund from its be-
ginning, Section H shows how Annuity Endowments have mul-
tiplied during the last six years, and Section K reveals many in-
teresting details regarding Legacies and Bequests for the last three
years.

‘During our entire administration we have applied such in—