LCMS Convention Proceedings St. Louis, Missouri — 1923, Page 54

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54 Proceedings of ‘Thirty-Second Regular Meeting,

Financial Report.

Result of Business, 1990—1923 :

Capital and Surplus, May 1, 1920 ........ $ 706066
Dividends... see... ieeeenee oases $ 265000.00 864
Gain, 1920—1923 sete sect eee eeenaes 521989.73
Net Worth, April 30, 1923 ............5... 963056.59.

~~ $1228056.59 | $13a80Er= $12380503

SSS

Schedule of Present Worth

ee

Cash ........ Pete eee ee cc ceeteecsccees $ 8135.59
Merchandise Inventory .......... bees 522629.84
Plant 20... . cece cece cece ee 206170.02
Investments ........................ 258200.00
| $995135.45

Less Accounts ...................... 32078.86
$963056.59

Having been properly audited, this financial report was adopted, §

Cash-in-Advance System. — After a careful and thorough con-
sideration of this matter the committee in charge of the Publishing
House report stated that it was convinced the cash-in-advance system
had not resulted in any loss of subscribers or money, but rather in
a distinct gain, and that to return to the former system would involve
great expenditure for the necessary equipment and the employment of
additional clerks. Synod therefore resolved that the cash-in-advance
system be continued.

“Homiletic Magazine” and “School J ournal.”—Synod by resolu-
tion declared these periodicals to be the property of Synod and
furthermore stated that the Publishing House has no authority to
discontinue any synodical publication unless expressly empowered to
do so by Synod.. ;

Synodical Reports. - Doctrinal Essays. — Synod resolved to re
quest the Ven. President to submit this matter to each District of.
Synod for mature deliberation and to report to the General Body,
whereupon Synod ‘would decide upon, and regulate, this matter.

Death of Teacher G. H. Runge and Retirement of Mr. C.
Schroeter. — A resolution was passed récognizing, and expressing its
appreciation of, the faithful services rendered by these former mem-

bers of the Board of Directors.

Hymn-book with Tunes. — Requests had come in for a cheap
edition of the standard English Hymn-book with Tunes. Synod re-

solved that the Publishing House be requested materially to reduce .

the present price of this book.