# LCMS Convention Proceedings_St. Louis Missouri_1944_S297
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

Financial Matters . 207

i sidy, of $10,000.00 to KFUO, the Board made this amount avail-.
ble upon request: We satisfied ourselves that the enlargement.
‘of: the Station was carefully financed. The loan made necessary
Lon account of this enlargement is being retired, as the report on
e Station will bring out. ,

_13. We believe we should, though without the knowledge and
«Horst toward a fund to be set aside for the erection of the

of this fund was a Scholarship Fund, the income of which, how-
ever, was no longer needed for the intended purpose. The first
donation, totaling $10,000.00, was later increased to $15,000.00, set
up, commencing with February. 1, 1942, as the “Luther Tower
Fund.” The earnings: of this Fund are to flow into a “Horst
‘Scholarship for South America Account.” If the Luther Tower
js not built or its erection commenced by February 1, 1962, the
«stipulations of the. contract are to be null and void, and the money
‘. is to be set aside by the Board of Directors for such purposes as it
may elect. May the example of Mr. Horst encourage and stimulate
others who may be interested in the Luther Tower, this important
. feature of the plans of the St. Louis Seminary.

14. Adjustments in Pension Matters were left to be made from
time to time by our Board together with the Board of Support:
and Pensions. We leave it to the latter board to report on these

‘matters.
Seminaries and Colleges in General

15. Synod in 1941 authorized the Board of Directors to make
the proper adjustments of professors’ salaries, without reducing
the basic salary scale, and as soon as possible to bring these salaries
back to the normal level or to. instruct the Fiscal Conference to
make provisions for restoration. (Proceedings, p. 134.) Since there

’ was no provision in the 1941 budget for such immediate general
restoration, the Board granted a 10 per cent Christmas bonus on
the December and January salaries of all professors, including
assistants. In January, 1942, it was resolved to restore the normal
salaries of all professors, effective February 1, and in May, 1943,
it was decided, because of the higher cost of living, to give all
regular professors an emergency increase of 10 per cent for the
duration of the war, this increase to begin with March 1, 1943. |
The salaries of all assistant professors were also adjusted according
to their time of service.

made it the duty of the Board to grant the necessary allowances

>

‘consent of the donor, call attention to the liberal gift of Mr. Henry:

‘Luther Tower at Concordia Seminary, St.Louis. Originally: part.

16. Synod, according to the 1938 Proceedings, pp. 47 and 49,.

for physical education at our seminaries and colleges. We made ~