# LCMS Convention Proceedings_St. Louis Missouri_1944_S301
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

“As all these’ funds constitute a most sacred trust, we are
determined to surround them with the greatest possible safe-
uards. The L.L.L. Endowment Fund is in the custody of the
“Continental Illinois National Bank and Trust Company of Chicago,
“where it is as safely placed as is humanly possible, ‘The Pension
. Fund and Sundry Trusts are placed in safe deposit boxes of the
"Mercantile-Commerce Bank and Trust Company of St. Louis,
-aecess to which requires the presence of four men out. of seven
“appointed for that purpose.

“ “All the accounting necessitated by these Trust Funds is done
by thé. Treasurer’s office, and the funds’ are included in the
Treasurer’s report to the convention of Synod. Section G of that

-. ginning, Section H shows how Annuity Endowments have mul-
‘tiplied during the last six years, and Section K reveals many in-

-yeats.

‘During our entire administration we have applied such in-
'. telligence to our task as the Lord has granted.. In exercising the
responsibility of stewardship we have been giving first considera-
“tion to safety and second consideration to earnings. As a result,

' holdings is worth substantially more than par or book value.”
Boarp or TRUSTEES ofr Synop’s Trust FuNpDS
W. H. Scutueter, Chairman

With the sincere prayer that the Lord may further bless the
work of our beloved Church in all its phases, this report is respect-
fully submitted for

. Tae Boarp or DrrecTors oF. THE: Ev. LUTHERAN : SYNOD
oF Missourr, OHIO, AND OTHER STATES

M. F. KreTzMann, - Secretary

Committee Reports and Action Concerning the Report
of the Board of Directors —

Paragraph 6 of this report states that the Board of Directors,

could not carry out the-resolution regarding a new office building.
We recommend that the action of the Board be approved and

reference to the office building be carried out as soon as s practicable.

. (Finapeial Matters 301

report, reflects the progress of the Pension Fund from its be- -

** teresting details regarding Legacies and Bequests for the last three —

our portfolio is in excellent shape today, and the aggregate of our "

On paragraph 6, Committee 6 brought in the following report: |

in accordance with the wishes of Synod, has solicited funds and -
erected a memorial at the grave of Dr: Pfotenhauer. However, it

that the convention express its desire that the 1941 resolution with. .