# LCMS Convention Proceedings_St. Louis Missouri_1947_S583
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

FINANCIAL MATTERS

of absence for Dr. W. A. Maier will be brought before Synod by
the Board of Control.

ze: 22. Fort Wayne. Owing to the building situation, the appropria-
- tion for the new service building was increased within the limits
of available funds. Recently the Board of Control was compelled
to make an additional expenditure of $10,632.88 to complete the
building. The Board of Directors allowed this item and would
support the local board in its request that Synod ratify this extra
expense.

23. All Other Institutions. Since our constitution makes the
Board members “the custodians of all property of the Synod” and
committed to them “the general management and supervision of
all business affairs of the Synod,” considerable time was spent at
-each meeting to attend to the management of our colleges and to
carry out the resolutions of Synod with respect to the individual
schools. This was done through our Committee on Colleges, in
co-operation with the Board for Higher Education. Details of such
management will be reflected in the reports of the individual in-
stitutions.

Report of the Board of Trustees of Synod’s Trust Fund

24. The Board of Trustees reports to us as follows:

As we approach the Centennial of our Synod, we are reminded
that Synod’s trust funds play a very important part in ‘its well-
being. It is, therefore, fitting and proper that the Board of Trustees
of Synod’s Trust Funds give an account of its stewardship. This
Board has now rounded out ten years of service since its appoint-
ment on April 22, 1937. During that time there has been little
change in its personnel. Our rules provided that the President
and Treasurer of Synod, together with five (5) laymen to be ap-
pointed by your Board, shall constitute the Board of Trustees.
The laymen are appointed for terms of three years and so stag-
gered that the term of no more than two (2) of them shall expire
in any one year. The rules limit the service of each layman to
two (2). successive terms, after which there must be a lapse of
a year before he may be reappointed.

Three years ago your Board consisted of Dr. J. W. Behnken,
with one of his Vice-Presidents as an alternate, Treasurer W. H.
Schlueter, and Messrs. August J. Luedke, Emil Harms, C. H. Gar-
bers, John A. Sauerman, and Theo. Schroeder, with Messrs. Paul
Schulze and Richard H. Waltke as advisory members. This is the
membership today, excepting that Mr. Richard H. Waltke has been
reappointed to full membership, and Mr. John A. Sauerman has
joined Mr. Paul Schulze on the advisory staff.

Synod’s trust funds are constantly increasing. When we took