# LCMS Convention Proceedings_St. Louis Missouri_1941_S857
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

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Comparative Balance-Sheet

Pension Fund Assets
Investments cee
Evestment Amortization (Premiums)

$170,000.00

6,292.2

9,331.92

35,847.9

6,504.40
102,711.63

| $185,624.13 | $395,847.91 | $624,016.03 | $579,833.69
Pension Fund Liabilities |
Pension Fund —22 $184,510.79 $364,866.07 $584,073.75 $542,504.91
Annuity Endowments —.___. — —_ 172.93 | 3,077.15 3,077.15
Contingent Funds —_—_ 4,985.65 | 7,871.68 5,361.68
Retirement Fund eee — 8,553.52 13,599.75 13,599.75
Investment Appreciation —_.____. — 11,636.94 | 11,636.94 11,636.94
Earnings 1,113.34 5,632.80 3,756.76 3,653.26
| $185,624.13 | $395,847.91 | $624,016.03 | $579,833.69
Earnings | of Fund wo. ‘Accounts @ 234% as of Jan. 31
Pension Fund Earnings
Year 1938 _. —— $1,113.34 — $1,113.34
Year 1939 a * 7,580.17 $3,060.71 5,632.80
Year 1940 * 5,061.47 |. 6,937.51 3,756.76
Totals — | $13,754.98 | $9,998.22 | $10,502.90

*
U.S. Co

quent years.

Ss ly interest earnings were less in 1940 than in 1939.
Spon Bonds were traded for U.S. Savings Bonds. The latter bonds earn more in
Hfe. However, in the first year (1940) they earned only about 14%.

Actually they were

eater.

During the year 1939 a large lot of
eir later years and average 2.9% during
This rate of earnings is considerably accelerated during subse-

their

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649
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