# LCMS Convention Proceedings_St. Louis Missouri_1953_S476
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

476 FINANCIAL MATTERS

[804]
Report of Board of Trustees of Synod’s Trust

For the information of the Houston Convention and
of Directors of Synod, the Board of Trustees of Synod’s Trust
submits herewith a report of its operations for the past ti,

The personnel of the Board has remained unchanged!
the past three years, and its members are: President, Jo
Behnken, or one of the Vice-Presidents of Synod as anal
Walter H. Schlueter, treasurer; C. H. Garbers; Walter H. K FO
vice-chairman; John A. Sauermann; Theodore Schroeder--f
H. Waltke, chairman; August J. Luedtke, advisory member
E. Groerich, secretary. The members of the Executive Cg
are: Richard H. Waltke, chairman; Walter H. Kroehnk
chairman, Walter H. Schlueter; Theodore Schroeder; Ch
Groerich, secretary.

The Board of Trustees of Synod’s Trust Funds meets
and during the interim the Executive Committee carries:
resolutions of the Board and transacts all other business r
immediate and prompt attention. All purchases and sales an
administrative acts transacted by the Executive Committee
the approval of Synod’s Trust Funds Committee at a subs
meeting.

The Trust Funds are itemized in the following sch
January 31, 1951 January 31, 1952

Pension Fund —_______. $ 8,898,048.06  $10,490,817.21
L.L.L. Endowment Fund —  2,827,711.95 2,845,345.34
Sundry Trusts ____...__..__ 2,309,824.80 2,242,938.15
Lay Retirement Fund __. 357,034.88 432,188.77

$14,392,619.69  $16,011,289.47
Diversification of Trust Funds — January 31, 1953:

LL. Lb.
Endowment Sundry Pension
Fund ‘Trusts Fund
Per cent Per cent Per cent
to Total to Total to Total .
U.S. Government Bonds _.._ 100.00% 83.22% 51.29%:
Public Utility Bonds 10.35 30.49
Railroad Bonds _______._ 40 3.12 ©
Industrial Bonds _—_—_— 23 14.48
Real Estate Mortgages 5.80 62

100.00%  100.00% 100.00%

It is interesting to note from the above figures that the
and Lay Retirement Funds have shown a steady and su
growth, while the L.L.L. Endowment Fund increased n
and the Sundry Trust Fund decreased slightly.

The regulations under which your Board operates
no less than 50 per cent of Synod’s Trust Funds shall be: