# LCMS Convention Proceedings_St. Louis Missouri_1950_S1255
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

776 FINANCIAL MATTERS

1949, petition The Lutheran Church — Missouri Synod to make
some of these moneys from Synod’s Pension Trust Fund available

for Church Extension work. Micurcan District

Henry C. Muter, Secretary

Loans from Church Extension Fund
(Memorial 832)

WuHerEAS, The present Church Extension Fund of Synod and
of most Districts are inadequate to meet the building needs of
subsidized and self-supporting congregations; and

Wuereas, Congregations are now spending large sums of money
for interest on loans from banks and other loaning institutions; and

Wuereas, Such loans from banks will become more frequent
as Synod expands and grows unless Synod itself provides More
funds for such building needs; therefore be it

Resolved, That the regulations of Synod applying to the invest-
ment of the Pension Fund be changed to authorize the investment
of not to exceed one fourth thereof in a Special Church Extension
Fund, to be made available as loans to congregations over and
above the sums now available to them under existing regulations
governing the Church Extension Fund, the rates of interest to
be charged for such loans from the Special Church Extension Fund
to be not less than four per cent (4%) per annum.

Tae Catirornia ann Nevapa District
C. Fickenscuer, President
R. J. Jacets, Secretary

Concerning these matters, Committee 11 reported:

Resolution 20
INVESTMENT oF Trust FuNDS

Wuereas, Many requests similar to those made in these memo-
rials have come to the Board of Directors of Synod; and

Wuereas, The Board of Directors referred these requests to
Synod’s counsel for legal consideration; and

Wuereas, Synod’s counsel rendered the opinion, based upon
the law and many court decisions, “that it would be illegal to
lend any part of trust funds to either Districts or to congregations”;
therefore be it :

Resolved, That the recommendation of the Board of Directors
not to use trust funds in this manner be approved.

ACTION .

This report was tabled. This also disposed of Unprinted Memo-
rial 42. :