Collection › LCMS Convention Proceedings (St. Louis, Missouri) › 1926 · 33rd Convention, Holy Cross Church › Page 911
LCMS Convention Proceedings St. Louis, Missouri — 1926, Page 911

Scan: The Lutheran Church—Missouri Synod
Transcription machine transcription, uncorrected

Ev. Luth. Synod of Missouri, Ohio, and Other States. 1926. 911

5. Wuereas, We now have a method that provides for automatic
equitable distribution of moneys among all of Synod’s budgeted treas-
uries, 7. e., the Budget Treasury; therefore be it

(A) Resolved, That we repeal the resolution of the 1917 Delegate
Synod as recorded in the 1917 Proceedings, page 144, § III, B, which
provides that the treasury of the Board of Support shall be benefited
“by an additional allowance of 10 per cent. of the net profits of Con-
cordia Publishing House”; and be it further

(B) Resolved, That, commencing with February 1, 1927, all
profits, proceeds, or dividends paid to Synod by Concordia Publishing
House be credited to the Budget Treasury; and be it finally

(C) Resolved, That each of the regular treasuries of Synod,
budgeted by Synod, receive an equitable portion of all such profits,
proceeds, or dividends paid into the Budget Treasury, such equitable

. portion to be established by the relation which each treasury, budgeted
&. by Synod, has to the entire budget of Synod.
3 Respectfully submitted,
Tueo. W. Ecxuart, Financial Secretary.
St. Louis, Mo., April 9, 1926.

The Board of Directors approves this memorial.

2S th.

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On recommendation of Committee 15 Resolutions A, B, and ©
were adopted.

Reserve Fund to Cover Losses Sustained by Fire.
(Overture 621.— German Report, p. 304.) —

The Pastoral Conference of Chicago, Ill., hereby submits for your
a consideration and favorable action the following proposal.

i It is well known that Synod has from its beginning carried no
fire insurance on any of its property. In view of the exceedingly high
cost of premiums which would be required to protect adequately the
large number of buildings and the comparatively slight loss by fire,
this policy is undoubtedly sound.

Nevertheless, fires do occur, and destroyed buildings must be re-
built. This requires a large sum of money, which must be collected
after the loss has occurred, often with great difficulty and loss of
time. It is obvious that, if a large reserve fund were immediately
available, construction could be begun without any delay. .

: Such a sum could, in our opinion, be accumulated in the follow-

FE; ing manner: —

Let the Boards of Control of all our institutions compile a com-
plete list of all the buildings under their respective jurisdiction and

‘ place a fair valuation on every building. Then obtain from a local
‘insurance agent the amount of the premiums the stock companies