Synodical Conference Convention Proceedings St. Louis, Missouri — 1958, Page 119

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Lutheran Synodical Conference, 1958 119

Following is an analysis of transactions within the Church Ex-
tension Fund capital account during the past biennium:

udget allocations of $10,000 per year cf. Synodical

Conference resolution, 1948 2. ....-2..-2ceco2-ccecsesecnscecceneneeneeececoee $ 20,000.00
ale of land (Transfiguration, St. Louis) at cost to Western
DDD) 9 (<) 3,000.00

terest earned on investments _._..---eeeeaceeceeeee ence ceeerereeeeeeeeee 2,385.36
“Interest earned on loans and real estate sales contracts .......... 1,719.34
"Miscellaneous receipts 2... cence eccneseececececcececeeeeeeeeeeeeseeeeneeeeceeeesene 1,901.30

$ 29,006.00
Less Pensacola and Mobile loan-grants _........---.--2.----.0-0--20--1— 12,500.00

Net increase in Church Extension Fund capital
(twomyear PeTiOd) on eeeeneceeeccec eee ec eee ceeceseeeeeeeeneeceeeeeeeeetece $ 16,506.00

New loans were granted as follows:

Alabama

Bashi, Messiaky 2... .i....--..e-cececcceceeceneneeecennneeseeeeeeeeeeeeesoeeeseeeeceeeveeeees $ 1,500.00
Gadsden, Antioch 483.54
Maysville (house) 3,500.00
Maysville, Mount Calvary 0.0... 22-2. cece cceleccceceeeeceeeeeeeteeneceenees 25,000.00
Mobile, Faith (Lard) 2... nce cece ccc eee eceeee cece ec eeeneceeeeeeeeeeee 25,122.28
Mobile, Faith (renovation) . 864.50
a Prichard (house) 2.022... .o.e.-cesee cece ee cee cee cneeee eens eececeneaeneeeceee 3,000.00
% Florida
Fort Lauderdale (lard) 2. ence aeeecececeeececeeccneceeeneesenneeeene 18,017.00
q Louisiana
New Orleans, Bethlehem (parsonage) —..0.22.------.-.--seeeece 7,500.00
New Orleans, Mount Zion __............ 5,000.00
New Orleans, St. Paul’s (parsonage) 7,000.00
Mississippi
St. Philip’s, Jackson (balance of $8,000) 00 -ee cece 6,000.00
Total of new loans in two-year period 2.0... $102,987.32

Most loans are current, and repayments are being received
regularly. Notices are mailed at periodic intervals to any delin-
quent accounts.

IH. PROPERTY FUNDS

The credit side of this section itemizes various unexpended
building funds as well as an overdraft of $3,114.70 on the chapel
constructed in 1957 at Fort Lauderdale, Florida. The latter mission
was one of three stations begun in Florida under the auspices of
the Missionary Board. In January 1958 the Florida-Georgia Dis-
trict of The Lutheran Church— Missouri Synod assumed the
supervision of these mission stations. The District also agreed to
assume the overdraft on the building as well as the cost of the