The Lutheran Pioneer St. Louis — 1931, Page 137

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THE LUTHERAN PIONEER.

137

Building Fund
July 1, 1930, to June 30, 1931
Cc
Debits Credits
1. Ackerville, Ala.— Chapel... $ 2.50
2. Alabama Luther College.... $ 523.45
3. Alabama School Equipment 335.05 319.30
45S BashistAlOvwecaccciccesacc cle 1,500.00
5. Birmingham, Ala. ......... 11,723.69 133.45
6. Buena Vista, Ala. ......... 2.27
7. Building Fund — General... 12,163.65
8. Camden, Ala. ............. 20.00 2,000.00
9. Concord, N.C. ............ 3,123.99
10. Debentures—Interest Paid 4,853.89
11. Debentures— Other Expenses 12.14
12. Greensboro, N. C. — Grace
Memorial ...........--- 118.94 118.94
IS SHigh*PoinGiNn. Circ... 2,038.43
14. Immanuel Lutheran College
— Rehabilitation ....... 14,336.55
15. Luther Preparatory School,
New Orleans, La. ...... 2,962.01
16. New Bern, N.C. .........- 106.00
17. New Orleans, La. — Bethle-
home ececcccsctioci- 308.00 58.00
18. Oakland, Cal. ............. 3,316.53
19. Pensacola, Fla. ........... 798.00 150.00
20. Philadelphia, Pa. ......... 8,049.87 1,198.00
21. Vredenburgh, Ala. ......... 1,582.84 1,530.00
22. Total (see A-8)........-.- $55,003.38 $19,282.11
——
Analysis of Building Fund Balance
D
Debits
1. Alabama Luther College,
Balititweer ccs sccess er $ 1,387.45
2. Alabama School Equipment 335.05
3. Building Fund—General... 56,300.69
4. Camden, Ala. ............. 20.00
5. Concord, N.C. ...........- 3,123.99
6. Immanuel Lutheran College,
Greensboro — Rehabilita-
TlON Mretetcleleteletctoiersie’s ctevareie’s 16,795.58
7. Pensacola, Fla. 798.00
—_—_—_— $78,760.76
Credits
BawBashi,pAlavgesc.iceicle cele cll-' $1,500.00
9. Camden, Ala. ...........-- 2,759.40
10. Maplesville, Ala. .......... 1,500.00
11. New Bern, N.C. .......... 106.00
12. Pine Hill, Ala.— Teacherage 558.15
13. Rock West, Ala. .......... 847.71
14. Spartanburg, S.C. ........ 1,071.48
———_- 8,342.74
15. Deficit, June 30, 1931 (see A-S)...... $70,418.02

1. Your Treasurer takes pleasure in submitting the
foregoing report reflecting the financial transactions of
your Board for the fiscal year 1930-31 and showing the
condition of your accounts on the closing date, June 30,
1931. he report follows the form used in recent years,
so that it readily lends itself to comparison.
2. Exhibit A reflects, in condensed form, your entire
fiscal business for the year, giving the opening balances,
receipts, disbursements, and closing balances.
3. Line 9 indicates that our investments have been
eatly reduced. This was necessary for two reasons.
n the first place, we had substantial sums of money
on hand a year ago from the sale of debentures. These
moneys had been invested at the beginning of the fiscal

ear and were subsequently liquidated. en, also, we
Lave transferred the sum of $6,902.67 from “Endowments

and Legacies” to the “Building Fund.” This amount in-
cluded thirteen separate and distinct bequests, all of which
were received for the support of Colored Missions. This
transfer reduced the amount of investments required to
offset our trust funds.

4. On Line 16 we show that the debentures account
was quite inactive during the year. Only $600 par value
of our notes were sold in the course of the year in order
to round out the 1939 maturities. No more notes will be
sold as long as the present low rate of interest prevails
in the money market.

5. The financial operations of the Mission Fund are
reflected on Exhibit B. We again show the various items
of cost and the different sources of income for two years
for comparative purposes. The cost of “rents,” “sundries,”
and “traveling expenses” were reduced last year. The re-
duction in rent is attributable almost entirely to a num-
ber of new buildings that have been acquired. The in-
crease in “salaries” is largely due to a greater number
of workers.

6. By comparing Line 20 with Line 29 on Exhibit B,
it will be noted that the Mission Fund receipts are exactly
equal to the disbursements. This is explained by the fact
that the net operating cost is billed, prorated, to the Mis-
souri and Wisconsin synods monthly. This arrangement
is possible since both synods operate on a budget plan. It
has the effect of keeping your Mission Fund in balance
at all times.

7. On Exhibit C are recorded all receipts and disburse-
ments during the fiscal year for building purposes. It
will be noted that the aiebarearients exceeded the receipts
by more than $35,000, which excessive expenditure is re-
flected on Exhibit A, Line 8. There it will be noted that
the debit balance in the Building Fund was increased to
$70,000 in the course of the year. This debit balance will
automatically be liquidated as the outstanding debentures
are retired.

8. A composition of the Building Fund accounts is
shown on Exhibit D. An item listed in this group, either
debit or credit, evidences the fact that the respective build-
ing operation has either not been carried out or is now

nD Ccess Respectfully submitted by
Tneo. W. EckHart, Treasurer.

Our Missionary Duty.

There can be no claim so solemn and imperative
as that which even now seems to call to us with the
voice of God from heaven and say: “I have given
mine own Son for this rebellious and apostate world,
the sacrifice is offered and accepted; but you, — you
who are basking in the sunbeams of Christianity,
you who are blessed beyond measure,—why will
you not bear to fellow-creatures sitting in darkness
and in the shadow of death the tidings of this
universal and incomprehensible love?”

If I saw a man drowning, I should hold out my
hand to help him. How much more strongly, then,
is the duty incumbent when there are thousands on
thousands perishing in sin and ignorance on every
side ? — Gladstone.

“TE missionary work of the Church has the
tight of way. There is no cause or power that can
set it aside. It is the King’s business.”