Synodical Conference Convention Proceedings St. Louis, Missouri — 1930, Page 62

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62 Verhandlungen der zweiunddreißigſten Verſammlung

factorily. The rather large balances owing us on June 30, 1930, are due
primarily to the very heavy charges made last June, on which payment
could not follow until after the books were closed.

5. On Line 7 are recorded our total investments, of which $23,000 has
long-term and $20,000 short-term maturities.

6. The account of the Jubilee Book still shows a debit of over $400.
The conference might order charged to missions whatever debit remains
at the end of the year 1931–32.

7. Major repairs were recently ordered at Springfield, Ill. These had
been only partially paid at the close of June. Hence this account remained
open. (See Line 10.)

8. The St. Louis Residence (Line 11) was erected as an economic mea-
sure, the rental being used to pay the interest and part of the principal.

9. The Synodical Conference in 1928 authorized the Board to borrow
up to $218,100 in order to carry out building operations. A note issue of
$200,000 was prepared as of November 1, 1929. Till now we have sold
$97,100 worth of these notes, bearing interest at the rate of 5 per cent. per
annum. Your resolution says that the “notes . . . shall provide for annual
repayments of no less than 10 per cent. of the original loan.” We found it
expedient so to arrange the maturities of these notes that principal pay-
ments increased as the interest payments decreased. We respectfully ask
the Synodical Conference to approve the schedule of maturities that fol-
lows: —
$15,500 due Nov. 1, 1930          $20,500 due Nov. 1, 1935
 16,500 due Nov. 1, 1931           21,500 due Nov. 1, 1936
 17,500 due Nov. 1, 1932           22,500 due Nov. 1, 1937
 18,500 due Nov. 1, 1933           23,500 due Nov. 1, 1938
 19,500 due Nov. 1, 1934           24,500 due Nov. 1, 1939

10. The details of your mission-operations are reflected in Exhibit B.
The income for missions has been classified as to sources on Lines 1 to 7.
The amounts shown on Lines 3 and 6 are those that were charged to these
two synods. Lines 1, 2, 4, 5, and 7 represent cash received.

11. This report distinguishes itself from previous reports in that the
income and expense of our colleges are shown as separate totals. This
makes possible cost statements limited to the mission as such.

12. Two unusual items of expense make their appearance. In 1928—1929
we set up a mission-reserve of $5,000 in order to provide your Treasurer
with a limited amount of ready cash. (See B—27.) In the last year the
gift of $7,500 to Ebenezer Congregation at Greensboro was charged to mis-
sions in preference to buildings, as we have no equity in this church-building.

13. Exhibit C lists the receipts and disbursements for buildings. The
credit of $1,468.98 appearing on Line 2 represented a refund from the city
of Selma on some water-main paid by us several years ago. Sales of prop-
erty are reflected on Lines 12 and 20.

14. The present status of your building funds is shown on Exhibit D.
Additional comment can be added on the floor of the convention.

Respectfully submitted by
THEO. W. ECKHART, Treasurer.

Report of Committee.

The President had appointed the following committee to study
the foregoing report of the Missionary Board and to make recom-
mendations to the convention: Rev. H. Grueber, chairman; Rev. W.
E. Hohenstein, secretary; Revs. F. A. Mehl, H. M. Tjernagel, Paul
Pieper, P. Bergmann; Teacher E. G. Rabe; Messrs. M. Salvner, A. B.
Ude, H. Vetter, H. Kurth. The recommendations of the committee,
with the action taken upon them by the convention, follow.

62 Proceedings of the thirty-second convention

[Printed in English.]

factorily. The rather large balances owing us on June 30, 1930, are due
primarily to the very heavy charges made last June, on which payment
could not follow until after the books were closed.

5. On Line 7 are recorded our total investments, of which $23,000 has
long-term and $20,000 short-term maturities.

6. The account of the Jubilee Book still shows a debit of over $400.
The conference might order charged to missions whatever debit remains
at the end of the year 1931–32.

7. Major repairs were recently ordered at Springfield, Ill. These had
been only partially paid at the close of June. Hence this account remained
open. (See Line 10.)

8. The St. Louis Residence (Line 11) was erected as an economic mea-
sure, the rental being used to pay the interest and part of the principal.

9. The Synodical Conference in 1928 authorized the Board to borrow
up to $218,100 in order to carry out building operations. A note issue of
$200,000 was prepared as of November 1, 1929. Till now we have sold
$97,100 worth of these notes, bearing interest at the rate of 5 per cent. per
annum. Your resolution says that the “notes . . . shall provide for annual
repayments of no less than 10 per cent. of the original loan.” We found it
expedient so to arrange the maturities of these notes that principal pay-
ments increased as the interest payments decreased. We respectfully ask
the Synodical Conference to approve the schedule of maturities that fol-
lows: —
$15,500 due Nov. 1, 1930          $20,500 due Nov. 1, 1935
 16,500 due Nov. 1, 1931           21,500 due Nov. 1, 1936
 17,500 due Nov. 1, 1932           22,500 due Nov. 1, 1937
 18,500 due Nov. 1, 1933           23,500 due Nov. 1, 1938
 19,500 due Nov. 1, 1934           24,500 due Nov. 1, 1939

10. The details of your mission-operations are reflected in Exhibit B.
The income for missions has been classified as to sources on Lines 1 to 7.
The amounts shown on Lines 3 and 6 are those that were charged to these
two synods. Lines 1, 2, 4, 5, and 7 represent cash received.

11. This report distinguishes itself from previous reports in that the
income and expense of our colleges are shown as separate totals. This
makes possible cost statements limited to the mission as such.

12. Two unusual items of expense make their appearance. In 1928—1929
we set up a mission-reserve of $5,000 in order to provide your Treasurer
with a limited amount of ready cash. (See B—27.) In the last year the
gift of $7,500 to Ebenezer Congregation at Greensboro was charged to mis-
sions in preference to buildings, as we have no equity in this church-building.

13. Exhibit C lists the receipts and disbursements for buildings. The
credit of $1,468.98 appearing on Line 2 represented a refund from the city
of Selma on some water-main paid by us several years ago. Sales of prop-
erty are reflected on Lines 12 and 20.

14. The present status of your building funds is shown on Exhibit D.
Additional comment can be added on the floor of the convention.

Respectfully submitted by
THEO. W. ECKHART, Treasurer.

Report of Committee.

The President had appointed the following committee to study
the foregoing report of the Missionary Board and to make recom-
mendations to the convention: Rev. H. Grueber, chairman; Rev. W.
E. Hohenstein, secretary; Revs. F. A. Mehl, H. M. Tjernagel, Paul
Pieper, P. Bergmann; Teacher E. G. Rabe; Messrs. M. Salvner, A. B.
Ude, H. Vetter, H. Kurth. The recommendations of the committee,
with the action taken upon them by the convention, follow.