The Lutheran Pioneer St. Louis — 1930, Page 143

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THE LUTHERAN PIONEER. 143

Mission Fund

B
July 1, 1928, July 1, 1929,
: to to
Credits June 30,1929 June 30, 1930
1. Missions-stations ......... $ 12,221.87 $ 14,144.65
2. Colleges ....ccccccccccccce 10,755.40 11,463.69
3. Missouri Synod .........+ 117,249.19 126,132.10
4. Norwegian Synod ........ 435.85 404.77
5. Slovak Synod ..........+. 250.00 875.00
6. Wisconsin Synod ........- 24,469.10 26,322.88
7. Sundry Sources ..........- 2,988.30 3,550.11
8. Total, 1929—1930 ......... $182,893.20
9. Total, 1928—1929 ......... $168,369.71 168,369.71
10. Total Credits. (See A—19.) $351,262.91
Debits
1]. Administration .........-. $ 2,899.06 $ 2,496.64
12, Equipment ..........-..+- 440.77 467.57
13. Executive Secretary .....- 3,311.86 2,882.17
14. Insurance Reserve (Fire) .. 1,250.00 1,250.00
15. Rent .....cccccccccccccces 1,653.97 1,044.55
16. Repairs 2,292.94 2,457.06
17. Salaries ... 92,802.45 95,927.26
18. Sundries ...........- 0 1,532.02 4,166.04
19. Traveling Expenses ......- 10,013.15 11,146.48
20. Superintendents .........- 8,540.15 7,758.71
21. Total Cost of Missions ....$124,736.37 $129,596.48
22. Colleges — Operating Cost.. 40,693.32 42,246.87
23. Students’ Support ........ . 45.05 244.12
24. Interest Paid .........-.. 780.45 406.21
25. Missionstaube .....-++++-+% 1,318.00 1,299.29
26. Pioneer ......02ceeeereeces 1,653.46 1,600.23
27. Transfer to Reserve ...... 5,000.00
28. Transfer to Building Fund 74.95
29. Gift to Ebenezer Congrega-
tion, Greensboro ....... * 7,500.00
30. Total, 1929—1930 ......... + $182,893.20
31. Total, 1928—1929 .......-. $174,301.60 174,301.60
——————$—
32. Total Debits. (See A—19.) $357,194.80
——————=

* Authorized by the Synodical Conference in 1928.

Building Fund
July 1, 1928, to June 30, 1930

Cc
Credits Debits
1. Ackerville, Ala. ........... $ 64.00 $ 1,200.00
2. Alabama Luther College —
Olde Site wioccraccctesicc. 1,468.98 2,315.85
3. Alabama Luther College —
Additions -............ 864.00
4. Arlington, Ala. ........... 996.35
5. Atlanta, Gas... cccccccccs 125.00
6. Atmore, Ala. .........00-- 330.00
7. Birmingham, Ala. ......... 785.08 9,040.24
S. Buena Vista, Ala. ......... 1,000.00 1,000.00
9. Building Fund—General... 24,282.94
10. Camden, Ala. ............. 759.40
1l. Catherine, Ala, ........-.. 1,201.00 1,200.00
12. Charlotte, N.C. ........... 767.50
13. Chicago, Ill. ........-.-+5- 99.48
14. Debentures — Interest Paid 1,420.18
15. Debentures— Other Expenses 353.79
16. Greensboro, N. C. — Luther
Memorial—Grace ..... 85.00 33,828.12
17. Immanuel Lutheran College 788.12 3,835.31
1S. Jubilee Collection ......:.. 10.00
19. Maplesville, Ala, .......... 1,500.00
20. Napoleonville, La. ......... 1,300.00
21. New Orleans, La. — Beth-
lehem\feercte siete sieretere cleinicre 725.13
22. New Orleans, La. — Mount
ZAON We acicleislorere crore cis cleveta 2,000.00
23:"Nyland;/Alas).. coc cece cieieie's 1.00
24. Pensacola, Fla. .........- 1.00 150.00
25. Philadelphia, Pa. ......... 276.50 19,163.80
26. Pine Hill, Ala. ............ 558.15
27. Possum Bend, Ala. ........ 936.26
28. Rock West, Ala. .......... 847.71
29. St. Louis, Mo.— Grace .... 535.00 772.62
30. Tilden, Ala. ..........---- 666.00 541.89
31. Tinela, Ala. ......-...++.- 1,034.05
Total (see A—12) ........ $36,996.86 $81,832.59
———_

Sees es See ——————————__—_____

7. Major repairs were recently ordered at Spring-
field, 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 measure, the rental being used to pay the
interest and part of the principal. 3

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 pre-

ared 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 payments increased as the interest Reyne de-
creased. e respectfully ask the,Synodical Conference to

. approve the schedule of maturities that follows: —

$15,500 due Nov. 1, 1930
16,6500 due Nov. 1, 1931
17,500 due Nov. 1, 1932
18,600 due Nov. 1, 1933
19,500 due Noy. 1, 1934

$20,500 due Nov. 1, 1935
21,600 due Nov. 1, 1936
22,500 due Nov. 1, 1937
23,500 due Nov. 1, 1938
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 re-
ports in that the income and expense of our colleges are
shown as separate totals. This makes possible cost state-
ments limited to the mission as such.

12. Two unusual items of expense make their appear-
ance. 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 missions 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 presen status of your building funds is shown
on Exhibit D. Additional comment can added on the
floor of the convention.

Respectfully submitted by

Tueo. W. Eckuart, Treasurer.