# LCMS Convention Proceedings_St. Louis Missouri_1899_S101
# AI translation — CHI Digital Archive (demonstration)

Ninth Delegate Synod of Missouri, Ohio, and Other States, 1899. 101

"By resolution of the Reverend Synod of 1896 we were instructed to
close the books annually on February 1, taking inventory at the same
time. But since in the period between Christmas and Easter all hands
in the business are needed to handle in time the work that piles up
just then, especially the changes in the periodical accounts, and to
post the books as the Synod prescribes, this provision of the Reverend
Synod could only have been carried out if we had also hired special
temporary help for the extra work, and even then it could only have
been carried out with great difficulty. With the consent of the
Reverend General President, Dr. H. C. Schwan, and with the agreement
of the Auditing Commission, we have therefore set May 1 of each year
for this purpose; only in this synodical year have we done the work
early enough that the report can be presented to the Synod.

"In accordance with the Reverend Synod's provision, a reserve fund
has also been established. So far we have invested $6000.00 of it in
bonds.

"The bookkeeping of the subscriptions for our periodicals has been
changed as the Reverend Synod prescribed.

"The shares of the Schwartz Brothers Commission Co. that passed
into the possession of the Concordia Publishing House from the M. C.
Barthel Estate have become worthless through the collapse of that
firm. As early as March 1895 the Board of Directors then in office
attempted to sell the shares, but in vain. For certain reasons,
inspection of the Commission Co.'s books was requested, but refused
by the head of the firm. On the advice of an experienced lawyer we
did not throw the shares on the market, nor did we force an
examination of the books, because we hoped, by dealing gently with
the firm, still to be able to save something for the Synod,
especially since the Schwartz brothers declared themselves willing to
buy back the shares as soon as their business had recovered somewhat.
So the matter was strung along through constant negotiations until
the firm failed in February 1897, at which point it became clear that
nothing could have been saved even through legal action.

"We also take the liberty of informing the Reverend Synod that the
books and cash accounts of the business have been audited every month
by members of the Board of Directors. The Agent has submitted a trial
balance monthly, and a report has been sent to the Praesidium
quarterly. All vouchers have been marked in accordance with the
Synod's regulations.

"We further take the liberty of laying the following before the
Reverend Synod for appropriate action: