# LCMS Convention Proceedings_St. Louis Missouri_1944_S168
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

168 Missions

Report of the General Church Extension Board
, (Memorial 402)

The activity of the Church Extension Board as a lending
agency has suffered a decline during the course of the past
triennium.

In 1941 the Board considered 63 applications for loans, re-
questing a total of $312,298 and granted 31 of them, lending a total
of $145,500. In 1942 only 27 applications were received, requesting
a total of $177,550, and of these 17 were granted, making the amount
lent out $104,550. In 1943 nine applications reached the office of
the Board, requesting a total of $82,000, and five of these were
granted, with a total of $45,000. The explanation of this gradual
diminution of the number and amount of loans is known to all —
building restrictions ordered by our Government have affected our
congregations, building material cannot be obtained, priorities
have been refused, and building operations, except those vital to
the prosecution of the war, are at a standstill. It is our hope and
prayer that all restrictions may soon be lifted again, so that the
many congregations in need of churches and schools may make
use of the capital of Synod’s Fund. Meanwhile, repayments from
loans already made have been received in gratifying measure.
Many churches have used the present opportunities for collecting
money for debts and have paid off their loans or have made sub-
stantial reduction of their debt. A number of accounts concerning
which we had grave doubts of their eventual worth became active
and payments were received. All this has brought the cash
balance of the Fund to the unprecedented height of over one half
million dollars. This large sum of money is held by the Treasurer
of Synod and will be available to the Church Extension Board when
building operations are resumed. Applications are being received
and are kept on file, to be acted upon at a later date. It will be
the policy of the Board, as it has been in the past, to lend this
money for buildings which are permitted under Synod’s rules, to
investigate every application carefully before any investment is
made, to safeguard Synod’s capital in every way, and to secure
repayments promptly. Your Board will strive to provide adequate
facilities for worship wherever they are needed and will at the
same time guard against an overspending of money and: the
accumulation of burdensome indebtedness. The Church Extension
Board has always been ready to adjust the terms of a loan in such
a way as to make it possible for a congregation to reduce its debt,
but it has been loath to forgive any part of a debt. However, in
exceptional cases, and for easily recognizable reasons, the Board
does consider a lowering of the amount of a debt.. One such case