# LCMS Convention Proceedings_St. Louis Missouri_1950_S274
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

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338 MISSIONS

and to two synodical Mission Boards; we desire to ask Synod: to
extend the borrowing power to the other synodical Mission Boay;
and we therefore réquest Synod to pass the following or a Similar
resolution: Handbook, 8.113 — “Loans .

“a. Loans shall be granted only to incorporated Districts, and
with the consent of the Board of Directors, to all synodi
Mission Boards. Each loan shall be made for a SPecific
congregation or mission station, and the merits of each
case shall justify the loan.”

In order to clarify a Situation which arises when loans are
made to, and money collected from, places in foreign countries,
whose money value fluctuates when expressed in dollars, we ask
Synod to pass the following resolution: ——

_ “Resolved, That all loans to foreign countries be made in the
‘coin of the realm’ of the respective country and the repayments
likewise be made in the ‘coin of the realm’ of that country.”

The special committee appointed by the Board of Directors to
study matters pertaining to the financing of church. extension
projects urges the Church Extension Board “to study: the best
procedure of administering church extension funds and to encour.
age and to assist the District Boards of Synod in the development
and promotion of the best methods of church extension.” Some of
the Districts have developed excellent plans_of self-help on a
District-wide and on a congregational level. Others have done very
little along this line. The Board hopes in future to become a clear-
inghouse of ideas and to promote the entire: program of church
extension. oo

Since all accounting and collecting is done through the Fiscal
Office, the financial report of this Fund, required by Synod, will be

made by the Fiscal Office. Tue Crurcn Extension Boarp
, Rev. FRreDeRIc NiepNer, Chairman

Tae Cuurcu Extension Boarp
Rev. F. Nrepner, D. D., Chairman
Rev. Taro. H. Roscnxe, Vice-Chairman
Mh. W. O. Braver, Secretary
Mr. WALTER H. KRoEHNKE
Mr. R. BAERNS
Mr. ExmMer FiscHer

* * *

Rev. F, C. Streurert, D. D., Exec. Secretary
Rev. H. A. MAYER, Asst, Exec. Secretary

MISSIONS 339

405)
f Repayments to Synod’s Church Extension Fund

It has been the privilege of your Fiscal Office, for many years,
to do the essential accounting of Synod’s Church Extension Fund.
Making the collections became its duty three years ago. Now it
is our added privilege to report very Satisfactory progress in
making collections.

Fifteen years ago Synod decided to discontinue making loans
to congregations. From that time on loans were limited to Dis-
tricts and several of Synod’s mission boards. How wise this action
was is portrayed in the accompanying tabulation. Three years
ago Districts owed a total of $613,987.69. Of that sum, $1,000 was
then past due. As of March 31, 1950, Districts owed $1,365,757.95,
and nothing was past due. In other words, all Districts were living
up to their promises. , .

When Synod discontinued making loans directly to congrega-
tions, it was assumed that it would take some time to make all
the collections as there were bound to be some who, could not
live up to their promises in the specified time. Three years ago
there were still $75,106.43 outstanding on loans to congregations,
of which sum $64,538.43 were past due. Many of these loans were
refinanced and either have been or are being paid off according

to schedule. As of March 31, 1950, there were still $31,087.09 out- -

standing, and of this sum $17,939.09 was past due. All accounts but
one have shown some signs of life. With that one exception, we
believe, the outstanding items will be collected.

We refer particularly to that one exception, namely, Grace
Congregation, Norfolk, Nebr. A loan of $10,000 was made to this
congregation in 1928. In the elapsed 22 years, nothing has been
paid on the principal, and the administration fees were paid for
the first two years only, nor have we received any definite promise
of good will or co-peration. Will Synod please instruct us as to
further procedure?

Church Extension Loans
as of March 31, 1950

Balance” ans to Districts Due Balance ‘e sentions
1. Alta.-Br. Col. $ 24,780.00 $ —_ $ — ¢ —
2. Argentine ane — — —_— —
. antic _ 101,200.00 —
4. Brazil s237h00 — F Sree iti
5. Calif-Nev. __ 128,400.00 — —_— —_—
6. Central 47,300.00 _— _— —_—_
i Gent. jlinois 20,000.00 —_— — _
» Volorado _ 896.84 _—_— eed —
9. Eastern — —_— _— —_—
10. English _ 56,700. —? — —_—