# LCMS Convention Proceedings_St. Louis Missouri_1959_S293
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

FINANCES 293

Wuereas, The resources of the Pension Fund are being in-
vested by its Trustees in accordance with strict rules laid down
by the Synod’s Board of Directors based on sound advice by in-
vestment specialists; and

Wuereas, Since April 1959 the Board of Trustees of the Synod’s
Pension Fund has been investing funds in equities up to 25% of
its total investments; therefore be it

Resolved, That we consider the requests in Memorial No. 818
to have been provided for satisfactorily.

Action: This resolution was adopted.

Concerning Annual Budget Needs for Various
Auxiliary Agencies in the Council of Lutheran Agencies

RESOLUTION 13, COMMITTEE 11

Memorial 819, pages 647, 648, Reports and Memorials
Unprinted Report, page 256, Today’s Business

Wuereas, Auxiliary agencies of our Synod are best supported
at the local level and by local interest groups; and

Wuereas, To place these auxiliary agencies, or any number of

them, in a second synodical budget would result in a dispropor-
tionate emphasis on a certain phase of the work of the church; and

Wuereas, The procedure outlined above would give priority
to some agencies over against some others which are equally
worthy; and

Wuereas, Some Districts are giving support at the District
level to agencies within their areas; and

Wuereas, The procedure outlined would place the Synod under
budgetary commitments to agencies over whose expenditures it
has no control; therefore be it

Resolved, That we respectfully decline Memorial 819; and_ be
it further

Resolved, That The Lutheran Church — Missouri Synod, as-
sembled in its 44th convention at San Francisco, Calif., reiterate
its wholehearted recommendation to all its Districts, congregations,
and members to continue to support generously the various reli-
gious, educational and charitable endeavors of the several members
of the Council of Lutheran Agencies, that by, in, and through them
the will of God may continue to be done to the glory of God and
the salvation of immortal souls.

Action: This resolution was adopted.