# LCMS Convention Proceedings_St. Louis Missouri_1926_S226
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

212 Proceedings of Thirty-Third Regular Convention,

would charge on every building. These statements are to be for-
warded to the Board of Directors of Synod, the Financial Secretary,
or some other official to be designated, who shall compute a premium
for every institution on the basis of 10, 15, or 25 per cent. of the stock
companies’ rates. These premiums are to be paid as a regular part
of the current expenses of the institutions and to be held and invested
by the proper synodical authorities. If by God’s grace we should be
spared a loss and the reserve fund should be sufficiently large to pro-
vide for any contingency, the official in charge would advise the in-
stitutions to discontinue payments.

This method is followed by many large corporations, who thus
carry their own insurance. It was also done in the interest of our ~
Concordia Publishing House, by order of Synod.

We, therefore, recommend to your honorable body the following
resolution : —

Resolved, That the Board of Directors of Synod make provisions
for the accumulation of a reserve fund to cover any fire losses which
may occur at any of our synodical institutions, along the general lines
of the plan submitted by the Pastoral Conference of Chicago.

Very respectfully,
Tue CoMMITTEE:
-E. F. Haerter. W.C. A. Martens. J. H. Wirre.

Recommendation of Committee 15.

With reference to Overture 621 your Committee recommends
that the resolution offered to make provisions for the accumulation
of a reserve fund to cover any fire losses which may occur at any of
our synodical institutions be at the present time rejected.

This recommendation was adopted.

C. Liquidation of Debts.

Plan to Wipe Out the Debt in the Budgeted Treasuries.
(German Report, p. 305.)

Wuereas, Our beloved Synod for many years has been laboring
under a deficit in its budgeted treasuries; and

Wuereas, The work of the Church is being seriously hampered
by -this continuing deficit; and

Wuernas, This deficit exerts a depressing and discouraging in-
fluence upon our congregations and their individual members, espe-
cially upon such congregations and members as are doing their.
utmost to raise the amounts apportioned to them; and

Whereas, There is no just reason for the existence of such
annual deficits, since our people could well afford to raise the money