# LCMS Convention Proceedings_St. Louis Missouri_1938_S263
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

Financial Matters 263

willing to loan Synod the necessary money at little or no interest,
so that the deficit was covered without going to the banks for loans.

2. Synodical Trust Funds. —The last Synod instructed the
Board of Directors, the Special Board of the Lutheran Laymen’s
League Endowment Fund collaborating, to study Synod’s entire
trust business in all its phases, “with a view to developing a plan
or scheme for holding in trust, controlling, managing, investing,
and conserving all synodical trust funds” (Proceedings, 1935,
p. 282). After several joint meetings of the two boards the regula-
tions for the new Board of Trustees for Synod’s Trust Funds were
adopted. (Cf. under “Constitutional Matters.”) On February 2,
1937, your Board appointed the following members on this new
board: Mr. F.C. Pritzlaff for a term of one year; Messrs. Paul
Schulze and John A. Sauermann for a term of two years; Messrs.
W.H. Schlueter and Richard Waltke for a term of three years, and
President J. W. Behnken. In a joint meeting of the old and the new
board the former Special Board wound up its affairs and turned
over the L.L. L. Endowment Fund to the new Board of Trustees.
Rules and regulations governing the investment of Synod’s trust
funds were adopted.

3. Pensions. — Synod instructed the Board of Directors to ap-
point an Advisory Pension Committee, which, together with the
Board of Support, was to institute a pension system for our ser-
vants of the Word. (Proceedings 1935, p. 289.) The following
men accepted their appointment on this committee: Rev. F. A.
Hertwig, Rev. E. G. Nachtsheim, Teacher Theo. M. Kosche, and
Messrs. Geo. Weigle and Richard Borrenpohl. The plan worked
out by the Board of Support and the Advisory Committee was
first approved in general by the Board of Directors and the College
of Presidents, as required by synodical resolution; and since a
number of adjustments had to be made from time to time, a Pen-
sion Committee of the Board was appointed to confer with the
Pension Board. It was agreed that the Pension Fund is to be
kept separate from the Support Fund; that the L. L.L. Endow-
ment Fund be kept intact and its income used in accordance with
the original intention and agreement, at least for the present; and
that, according to the opinion of our attorney, it would be better
to begin operations under our synodical charter rather than to
effect a separate incorporation of the Board of Support and Pen-
sions. At the suggestions of the Board of Directors the Fiscal
Conference in 1937 appropriated the necessary funds to put the
Pension Plan into operation as far as the men salaried by Synod
are concerned. The Board also resolved to pay the proportionate
share toward the pensions of those of our clergy who are directly