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Full text of "Lebanon Valley College Supplementary Report of the Finance Committee"

Lebanon Valley College 

BULLETIN 

Vol. XXVI JUNE, 1937 No. 3 



Supplementary Report 

Giving Financial Statement of the 

Business from July I, 1936, to 

June I, 1937 



Presented to the Board of Trustees at their 
Annual Meeting, Friday, June 4, 1937 



Entered as Second-Class matter at Annville, Pa., under the Act of August 24, 1912 



Exhibit A 

BALANCE SHEET 
JUNE 1, 1937 

ASSETS 

I. Current Funds ; 
A General: 

Cash $3,014.10 

Investments, Notes Receivable 11,469.87 

Accounts Receivable, Students 23,574.33 

Advances Receivable: 

Farm Account 1,474.69 

Inventories: 

Dining Hall Supplies $1,046.00* 

Laboratory Supplies 1,825.00 2,871.00 

Deferred items — Frepaid insurance 3,057.78 

Deficit, per Exhibit B 44,897.04 

90,359.01 
B Restricted: 

Cash 1,473.19 $91,832.20 

II. Loan Fu nds : 

Cash 1,919.62 

Notes Receivable 5,16 2.12 7,081.74 

III. Endowme n t end Othe r Non-Expendab le Fund s: 

Cash ~ ~ 817.96 

Bonds 419,417.11 

Stocks 408,032.56 

Mortgages 20,750.00 

Notes Receivable 20,261.71 

Real Estate (Farms) 47,4 76.25 916,755.61 

IV. Plant FundB 

Invested in Plant: 

Lands 39,000.00 

Buildings 495,219.84 

Underground Heating, Plumbing and 

Electrical System 17,089.39 

Equipment 110,654.89 

Current Additions and Betterments 

from General Fund 1,356.25 663,320.37 

v. Agency Funds : 

Cash 636.28 

Advances Receivable from General lund 183.19 

Ferm Account: Improvements 2,500.00 

Deficit 2,471.20 4,971.20 5,790.67 

Total Assets $1,684,780.59 



2. 



LIABILITIES AND FUNDS 



Exhibit A 

BALANCE SHEET 
JUNE 1, 1937 



I. Curren t Funds: 
A General i 

Notes Payable 
Accounts Payable 
Advances Payable: 

Agency Funds 

Students* Deposits 

Students' Activities 
Deferred Credits: 

Unearned income, per Schedule B-l 
Reserve--Doubtful Accounts Receivable, 

Students 

B Restricted: 
Funds 

II, Loan Funds : 
Funds 

III. Endowment and Other Non-Expendable Funds : 
Endowment Funds: 
General 
Restricted: 
Student Aid 
Other 
Annuity Funds 

IV. Plant Funds: 



|61,8€6.40 
7,835.04 

183.19 

2,952.95 

422.16 

11,499.27 

5,600.00 
90,359.01 

1,473.19 191,832.20 
7,081.74 



#684,963.91 

$134,371.66 

95,020.04 229,391.70 914,355.61 

2,400.00 916,755.61 



Net Investment in Plant: 
Balance July 1, 1936 
Add, Current Investment in Plant 
from General Fund 

V. Agency Funds : 

Farm Account: 
Notes Fayable 
Advances Payable 
Funds * 



661,964.12 

1,356.25 663,320.37 



4,000.00 
1,474.89 

315.78 5,790.67 



Total Liabilities and Funds 



$1,684,780.59 



Exhibit B 

STATEMENT OF CURRENT FUNDS 
JULY 1, 1936 TO JUNE 1, 1S37 



INCOVE 



Educational and General, per Schedule B-2, 

Sec. I $128,118.22 

Auxiliary Enterprises and Activities, per 

Schedule B-2, Sec. II 51,538.25 

Non-Educational Furpose6, per Schedule E-2, 

Sec. Ill 373.45 

Total Income $180,029.92 

EXPENSES 

Educational and General, per Schedule B-3, 

Sec. I 128,460.59 

Auxiliary Enterprises and Activities, per 

Schedule B-3, Sec. II 60,565.52 

Non-Educational Expenses, per Schedule B-3, 

Sec. Ill 2,035.e9 

Total Expenses 191,062.00 

Net Los6 for the period July 1, 1936 to 

June 1, 1S37 11,032.08 

ANALYSIS OF DEFICIT ACCOUNT 

Net Loss for the period July 1, 1936 to 

June 1, 1937 as shown above 11,032.08 

Additions and Betterments, invested in Plant dur- 
ing the period July 1, 1936 to June 1, 1937 1,356.25 

Total Debits to Current Fund Surplus Account 12,388.33 

Deficit July 1, 1936 32,508.71 

Current Fund Deficit June 1, 1937 carried 

to Balance Sheet "Exhibit A" $44,897.04 



4. 



Schedule B-l 

STATEMENT OF CURRENT INCOME 
JULY 1, 1936 TO JUNE 1, 1937 



I. Educational and Generals 



(1) 


Student Income: 














A School of Liberal Arts and 


Sciences: 


i 








Tuition 


$73, 


,023, 


.35 








Less Scholarships 


12, 


,200, 


,50 


$60,822.85 






Matriculation Fees 








1,707.60 






Biology Fees 








2,077.00 






Chemistry Fees 








1,746.00 






Physics Fees 








230.00 






Psychology Fees 








141.00 






Practice Teaching Fees 








1,085.00 






Graduation Fees 








1,185.00 


$68,994.45 




B Auxiliary Educational Schools t 












Extension School 








1,270.00 






Music School 








29,856.19 






Saturday School 








1,466.00 






Summer School 








1,954.42 


34,546.61 


(2) 


Endowment Income 

General Purposes 










24,568.25 


(3) 


Gifts and Grants: 
Benevolence 
Other 








5,754.02 
515.00 


6,269.02 


(4) 


Other Sources: 














Chemical Analysis by Dr. 


Bender 




68.25 






Interest on Current Fundi 


5 






993.31 






Library Income 








405.00 






Group Life Insurance 








705.00 






Rent for Chapel 








15.00 


2,186.56 




Total Educational and 


Gene: 


ral 


Income 




136,564.89 



II. Auxiliary Enterprises and Activities : 

(1) Dormitories : 

Rentals 
Cleaning Fees 

(2) Dining Hall : 

Students ' Board 

Sale of meals to others 

Sale of food and operating supplies 

(3) Placement Bureau Income: 



16,308.85 

650.25 16,959.10 



37,311.80 
250.33 
25.62 37,587.75 

44.00 



Total Income Auxiliary Enterprises 
and Activities 



54,590.85 



5, 



Schedule B-l 

STATEMENT OF CURRENT INCOME 
JULY 1, 1936 TO JUNE 1, 1937 

III. Income for Non-Educational Purposes ! 

Miscellaneous $373.45 

Total Income #191,529.19 

Amount applicable to period July 1, 1936 

to June 1, 1937, per Schedule B-2 180,029.92 

Total Unearned Income, carried to Balance 

Sheet, Exhibit A #11,499.27 



6. 



Schedule B-2 

STATEMENT OF CURRENT INCOME 
JULY 1, 1936 TO JUNE 1, 1937 

I. Educational and General t 

(1) Student Income ; 

A School of Liberal Arts and Science 468,994.45 

B Auxiliary Educational Schools 34,546.61 
Total Student Income applicable 

to year 103,541.06 

Income applicable to eleven month 
period covered by report equals 
11/12 of $103,541.06, or $94,912.64 

(2) Endowment Income for General Purposes ; 

Estimated annual endowment income 

for operating expenses 27,000«00 

Income applicable to eleven month 
period covered by report equals 
11/12 of $27,000.00, or 24,750.00 

(3) Gifts and Grants 6,269.02 

(4) Other Sources 2,186.56 

Total Income for Educational and 

General Purposes $ 128,118.22 

II. Auxiliary Enterprises and Activities ; 

(1) Dormitori es; 

Income applicable to year 16,959.10 
Income applicable to period 

covered by report equals 

17/18 of £16,959.10, or 16,016.93 

(2) Dining Ha ll; 

Income applicable to year 37,587.75 
Income applicable to period 

covered by report equals 

17/18 of £37,587.75, or 35,477.32 

(3) Placement Bureau 44.00 

Total Income from Auxiliary 

Enterprises and Activities 51,538.25 

II. Income fro m Non-Educational Purposes; 373.45 

Total Income applicable to period 

July 1, 1936, to June 1, 1937 $180,029.92 



7 c 



Schedule B-3 

STATEMENT OF CURRENT EXPENSES 
JULY 1, 1936 TO -JUNE 1, 1937 

I. Educational and General : 

(1) General Administration and Expense ; 
A General Administrative Offices: 

Miscellaneous #265.06 

Office Supplies 370.19 

Postage 359.69 

Salaries 14,967.44 

Stationery and Printing 358.30 

Telephone and Telegraph 178.85 #16,499.55 

B General Expense: 

Advertising, General 371.34 

Advertising, Bulletins and Catalogs 525.02 



(2) 



Alumni Expense 


113.22 






Alumni Secretary, Salary and 








Expense 


821.76 






Auditing and Accounting Service 


268.75 






Commencement Expenses 


20.63 






Compensation Insurance 


232.92 






Credit Adjustment Service 


101.37 






Diplomas 


87.00 






Group Life Insurance 


1,597.78 






Lecture Expense 


124.00 






Membership Dues 


163.50 






Miscellaneous 


817.39 






Press Service 


894.66 






Robbery Insurance 


138.51 






Student Solicitation Expense 


1,989.37 






Travel and Entertainment, 








Faculty 


50.00 






Officers 


873.24 


9,190 


46 #25,690.01 


Instruction and Research: 








A School of Liberal Arts and Science: 








Salaries, Faculty 


56,239.52 






Salaries, Student Assistants 


1,296.90 






Salaries, Practice Teaching 


560.00 


58,096 


.42 


Departmental Expenses: 








Biology Laboratory 


771.51 






Chemistry Laboratory 


900.96 






Physics Laboratory 


592.14 






Psychology Laboratory 


182.93 


2,447 


54 60,543.96 


B Auxiliary Schools: 








Extension School: 








Faculty Salaries 


800.00 






Miscellaneous Expenses 


329.58 


1,129 


58 



8. 



Schedule B-3 

STATEMENT OF CURRENT EXPENSES 
JULY 1, 1936 TO JUNE 1, 1937 



I. Educational and General t 

(2) Instruction and Research g 
B Auxiliary Schools 
Music School t 



Faculty Saleries 


21 


,783. 


,1? 






Practice Teaching, Salariee 












and Expense 




585, 


.00 






Music 




74, 


,78 






Salaries — Other than Faculty 




478, 


,00 






Stationery and Printing 




, 53, 


.26 






Tuning, repairs, etc 




930, 


,13 


23,904.33 




Sumner School t 










Faculty Salaries 




852, 


,46 






Miscellaneous Expense 


1 


,082, 


,61 


1,935.09 




Saturday School s 












Faculty Salaries 








871.35 $27,840, 


,S5 


(3) Library 1 












Books and Magazines 








1,490.68 




Salaries 








3,286.28 




Supplies and Binding 


il Plant: 


1 


142.57 4,919, 


,&f. 


(4) Operation and Maintenance of Physic* 


802.49 




Care and Maintenance of Grounds 








Care of Buildings and Furniture 








1,905.66 




Heat 








3,568.97 




Infirmary 








14.54 




Light and Power 








946.52 




Miscellaneous 








23.00 




Operating Supplies 








125.66 




Planting Expense 








27.00 




Property Insurance 








764.27 




Repairs of Buildings and Equipment 






999.68 




Taxes 








134.75 




Water 


Expi 


snse 




154.20 9,466. 


,74 


Total Educational and General 


128,460. 


,59 


I. Auxiliary Enterprises and Activities 1 






(1) Dormitories} 












Care of Buildings and Furniture 








2,997.74 




Gas 








2.33 




Heat 








3,619.96 




Light 








1,709.10 




Miscellaneous 








40.64 




Operating Supplies 








145.25 




Property Insurance 








448.90 




Rent 








401.74 




Repairs of Buildings and Equipment 






17,638.64 





9. 



Schedule B-3 



STATEMENT OF CURRENT EXPENSES 
JULY 1, 1936 TO JUNE 1, 1937 

II. Auxiliary Enterprises and Activities } 

(1) Dormitories , Continued 

Telephone 
Water 

(2) Dining Hal I t 

Food 

Gas 

Laundry 

Light and Power 

Miscellaneous 

Operating Supplies 

Renewals and Repairs 

Salaries and Wages 

Telephone 

Water 

(3) Placement Bureau Expenses ; 

Total Expenses, Auxiliary Enterprises 
and Activities 

III. Other Non-Eduoational Expenses > 
Debating Expense 
Interest on Loans 

Total Expenses for the Period 
July 1, 1936 to June 1, 1937 



$114.32 




407.11 


$27,525.73 


22,835.15 




166.69 




377.42 




414.60 




114.18 




169.17 




526.31 




8,285.16 




21.70 




70.61 


$32,980.99 




58.80 




$60,565.52 


100.00 




1,935.89 


$2,035.89 



$191,062.00 



10. 



EXTENSION SCHOOL REPORT 
JULY 1, 1936 TO JUNE 1, 1937 



Incomes 

Registration Fees 

Tuitions 

First Semester 
Second Semester 

Sees 



$717.00 
513.00 



Salaries 

Traveling and miscellaneous expenses 

Profit 



140.00 
1,230.00 #1,270.00 



800.00 
329.58 




SUMMARY OF ENDOWMENT FUND INVESTMENTS 
JUNE 1, 1937 



Farms 
Bonds s 

Industrial 

Public Utility 

Railroad 

Real Estate 

Stocks j 

Preferred 
Common j 

Auto Accessories 

Automobile 

Aviation 

Bank 

Broadcasting 

Building 

Copper 

Electric Equipment 

Food 

Miscellaneous 

Office Equipment 

Oils 

Rubber 

Steel 

Utility 

Mortgages 

Notes Receivable 

Cash awaiting investment 





Amount 


Percentage 




Invested 


of Total 




$47, 


,476, 


,25 


5.18 


|9,600.00 








1.05 


213,769.64 








23.34 


137,249.31 








14.98 


58,798.16 








6.42 




419. 


,417, 


,11 




121,699.50 








13.29 


14,400.00 








1.57 


12,793.36 








1.40 


10,148.21 








1.11 


76,100.00 








8.31 


5,800.00 








.63 


17,500.00 








1.91 


22,200.00 








2.42 


12,000.00 








1.31 


5,500.00 








.60 


1,200.00 








.13 


8,000.00 








.87 


28,000.00 








3.06 


13,300.00 








1,45 


27,900.00 








3.05 


31,491.51 








3.44 




408 


,032, 


,58 






20 


,750, 


,00 


2.27 




20 


,261, 


= 71 


2.21 




915. 


,937, 
817, 


,65 

..96 


100.00 




$916. 


,755, 


.61 





11. 



ENDOWMENT FUND INVESTMENTS 
JUNE 1, 1937 

Amount 



FARMS 



Farm at East Berlin 
Farm at Shiremanstown 



INDUSTRIAL BONDS 



$ 10,000 Warner Company 



PUBLIC UTILITY BONDS 

10,000 American & Foreign Power Company, Inc. 

10,000 American Utilities Service Corporation 

15,000 Associated Electric Company 

5,000 Canadian Utilities Limited 

15,000 Central States Electric Corporation 

10,000 Citie6 Service Company, Cvt. 

5,000 Cities Service Company x.w. 

10,000 Cities Service Company w.w. 

10,000 Cities Service Power & Light Company 

25,000 Consolidated Gas Utilities 

5,000 Eastern Gas and Fuel Associates 1st Mortgage 

10,000 General Public Utility 1st Lien 

5,000 Genesee Valley Gas Company, Inc. 

10,000 International Telephone and Telegraph Corporation 

10,000 Interstate Power Company 

10,000 Jacksonville Gas Company 

10,000 New England Gas and Electric Association 

10,000 Portland General Electric Company 

5,000 Southwest Gas Company of Oklahoma 1st Mortgage 

10,000 Standard Power and Light Corporation 

10,000 United Light & Power Corporation 

8,000 United Light and Railways Company 

5,000 Winnipeg Electrio Company General Mortgage 
223,000 

RAILROAD BONDS 



10,000 Baltimore and Ohio Railroad Company 

10,000 Baltimore and Ohio Railroad Company 

15,000 Buffalo, Rochester & Pittsburgh Railway Company 

15,000 Chicago & Alton Railroad 

10,000 Colorado and Southern Railway Company 

10,000 Erie Railroad Company 

10,000 Erie Railroad Company 

10,000 Illinois Central Railroad 

10,000 Illinois Central Railroad Company and Chicago, St. Louis and 

New Orleans Railroad Company 

15,000 Lehigh Valley Railroad Company 

10,000 Missouri Kansas & Texas Railroad 

10,000 Saint Johnsbury and Lake Champlain 1st Mortgage 

10,000 Southern Railway Company 
145,000 

12. 



Rate Per Cent 



Maturity 



ENDOWMENT FUND INVESTMENTS 
JUNE 1, 1937 



Book Value 

#9,776.25 
37,700.00 
47,476.25 



Income 



1944 



9,600.00 



$600.00 



5 

6 
5 
5 
5 
5 
5 
5 

5-1/2 
6 
4 

6-1/2 
6 
5 
5 
5 
5 

4-1/2 
6 
6 
6 

5-1/2 
4 and 5 



4-1/2 

5 

4-1/2 

3 

4-1/2 

5 

5 

4-3/4 

5 
4 
4-1/2 

5 

6 



2030 


9,300.00 


500.00 


1964 


9,500.00 


600.00 


1961 


14,000.00 


750.00 


1955 


4,852.08 


125.00 


1948 


14,000.00 


750.00 


1950 


9,600.00 


250.00 


1963 


4,400.00 


250.00 


1969 


10,000.00 


500.00 


1949 


9,500.00 


275.00 


1943 


26,942.86 


450.00 


1956 


4,861.67 


100.00 


1955 


9,800.00 


650.00 


1956 


4,200.00 


300.00 


1955 


9,700.00 


500.00 


1957 


9,400.00 


500.00 


1942 


8,500.00 


150.00 


1950 


9,334.03 


500.00 


1960 


9,400.00 


450.00 


1954 


5,000.00 


300.00 


1957 


9,500.00 


600.00 


1975 


9,700.00 


600.00 


1952 


7,779.00 


287.22 


1965 


4,500.00 


400.10 




213,769.64 


9,787.32 


1960 


9,600.00 


562.50 


1995 


9,900.00 


250.00 


1957 


14,700.00 


337.50 


1949 


13,500.00 


450.00 


1980 


9 , 200. 00 


450.00 


1967 


9,900.00 


500.00 


1975 


9,900.00 


652.09 


1966 


9 „ 500. 00 


475.00 


1963 


9,900.00 


250.00 


2003 


13,327.09 


600.00 


1978 


9,200.00 


225.00 


1944 


9,422.22 


250.00 


1956 


9,200.00 


765.00 




137, 249,31 


5,767.09 



ID,. 



ENDOWMENT FUND INVESTMENTS 
JUNE 1, 1937 



300 



REAL ESTATE BONDS 



$500 Agar Packing and Provision Company 

5,000 Atlanta Medical Arts Building, Atlanta, Georgia 

5,000 Broadway & 41st Street Building 

8,600 Lemoyne Trust Company, Pennsylvania 

5,000 Loutellus Apartments, Pittsburgh 

4,000 Ruskin Corporation 

500 Sheridan-Belmont Hotel Company, Participating Certificate 

42,200 United Brethren Publishing House 
70,800 



448,400 Total Bonds 
Shares PREFERRED STOCKS 

100 Alabama Great Southern Railroad Company 

200 American Cities Power and Light 

100 Birmingham Electric Company 

100 A. M. Byers 

100 Central Maine Power Company 

60 Central Electric & Telephone Company 

100 Electric Power & Light Company 

100 Iowa Electric 

25 Iowa Electric 

50 A. S. Kreider Company 

70 A. S. Kreider Shoe Company 

100 New England Power Association 

100 New England Public Service Company 

100 Penn Central Light and Power Co., Inc. Cumulative 

4 Pennsylvania Power & Light Company Cumulative 

5 The Potomac Edison Company 

100 Utah Power 4 Light Company, Inc. 
1,414 

COMMON STOCKS 

AUTO ACCESSORIES 

100 Bendix Aviation 

100 Electric Auto Lite 

100 Houdialle-Hershey Corporation "B" 



AUTOMOBILE 



200 General Motors 

AVIATION 

100 Curtis Wright A 
100 Sperry Corporation 
100 United Aircraft 
300 

BANK 

300 Chase National Bank of New York 

14. 



ENDOWMENT FUND INVESTMENTS 
JUNE 1, 1937 



Rate Per Cent 


Maturity 


Book Value 


Income 


5 


1946 


$500.00 


$12.50 


6-1/2 


1938 


5,000.00 


325.00 


3 


1944 


4,000.00 


150.00 


5 


1929 


8,500.00 


350.00 


6-1/2 


1936 


4,000.00 


+ 


3 


1950 


4,000.00 


113.00 






500.00 


+ 


2 


1934-53 


32,298.16 


+ 



58,798.16 950.50 



419,417.11 17,104.91 



3 9,500.00 150.00 

2-3/4 9,500.00 412.50 

6 ' 9,300.00 337.50 

7 9,549.50 + 
6 9,500.00 375.00 
6 3,100.00 360.00 

6 9,700.00 + 

7 9,200.00 ♦ 
6-1/2 2,250.00 161.73 
5-1/2 

5-1/2 12,000.00 467.50 

6 ' 9,500.00 1,228.41 

7 9,200.00 + 
5 9,300.00 250.00 
5 400.00 20.00 
7 500.00 35.00 
7 9,200.00 145.83 

121,699.50 3,943.47 



4,600.00 


25.00 


5,200.00 


60.00 


4,600.00 


37.50 


14,400.00 


122.50 


12,793.36 


25.00 


2,500.00 


¥ 


4,448.21 


+ 


3,200.00 


50.00 


10,148.21 


50.00 


20,500.00 


280.00 



1 5 . 



ENDOWMENT FUND INVESTMENTS 
JUNE 1, 1937 

Shares COMMON STOCKS 

100 Chemical National Eank & Trust Company 

100 Empire Tru6t Company 

100 Irving Trust Company 

200 Bank of Manhattan Company 

300 National City Bank of New York 

100 Peoples Pittsburgh Trust Company 



1,200 



26.8 



203 



BROADCASTING 



100 Columbia Broadcasting A 

BUILDING 

100 American Radiator 
100 Congoleum Nairn, Inc. 

50 Crane Company 

50 The Glidden Company 
300 

COPPER 

200 Anaconda Copper 
100 Inspiration Copper 
100 Kennecott Copper 
400 

ELECTRIC EQUIPMENT 

200 General Electric Company, Inc. 

FOOD 
100 National Biscuit Company 

MISCELLANEOUS 

6.8 Agar Packing and Provision Corporation 
20 Amerex Holding Corporation 
Mission Corporation 



OFFICE EQUIPMENT 



103 Burroughs Adding Machine 
100 National Cash Register 



OILS 



100 Atlantic Refining Company 

100 Consolidated Oil 

100 Ohio Oil Company 

100 Plymouth Oil 

100 Pure Oil 

100 Socony Vacuum Oil 

100 Standard Oil Company, Inc., of New Jersey 

100 Transwestern Oil Company 

800 

16. 



Rate Per Cent Maturity 



ENDOWMENT FUND 


INVESTMENTS 




JUNE 


1, 1937 


Book Value 




Income 


111,000.00 




1108.00 


5,000.00 




+ 


4,600.00 




36.00 


10,700.00 




90.00 


18,300.00 




375.00 


6,000.00 




+ 



76,100.00 889.00 
5,800.00 50.00 



3,200.00 


60.00 


5,200.00 


50.00 


4,600.00 


+ 


4,500.00 


25.00 



22,200.00 



1,200.00 



17,500.00 135.00 



12,200.00 175.00 
3,500.00 + 

6,500.00 165.00 



12,000.00 205,00 



5,500.00 160.00 



500.00 
700.00 



4,500.00 113.30 
3,500.00 125.00 
8,000.00 238.30 



5,000.00 


100.00 


2,000.00 


95.00 


2,000.00 


35.00 


4,600.00 


35.00 


2,600.00 


* 


2,000.00 


75.00 


8,000.00 


125.00 


1,800.00 


+ 


28,000.00 


465.00 



17. 



ENDOWMENT FUNK INVESTMENTS 
JUNE 1, 1937 

COMMON STOCKS 

Shares RUBBER 

100 Firestone Tire and Rubber 

100 Goodrich Rubber 

100 Goodyear Tire & Rubber 



300 



STEEL 



100 American Rolling Mills 

100 Copperweld Steel 

100 Republic Steel 

100 Sharon Steel 

100 United States Steel Corporation 

500 

UTILITY 

100 American Water Works 

350 Central Electric & Telephone Company 

100 Central West Company Voting Certificate 

200 Columbia Gas & Electric 

150 Consolidated Gas Utilities 

100 Electric Bond and Share 

300 European Electric Rights 

100 National Power and Light 

150 North American Company, Inc. 

21 Northeastern Water and Electric Corporation 

50 Southwest Gas Company of Oklahoma 

100 United Gas Improvement Company 

45 Winnipeg Electric Company Certificate Non-Cumulative Class A 
$350 . Winnipeg Electric Company Contingent Certificate 
1,766 + $350 
6,695.8+f350 Total Stocks - Common 

8,109.S+$350 Total Stocks 

MORTGAGES 

§4,750 Jacob U. Baum 

5,000 Amos K. Curry 

4,000 Derry Street Church United Brethren in Christ, Earrisburg, Pa, 

1,000 Union Trust Company of Pennsylvania, Harri6burg, Pa. 

6,000 P. A. W. Wallace 
20,750 

NOTES 

Notes from churches and individuals 

Total Investments 



18. 



Rate Fer Cent Matu rity 



6 
6 
6 
5 
5-1/2 



ENDOWMENT FUND INVESTMENTS 
JUNE 1, 1937 



Book Value 


Income 


$5,100.00 


150.00 


3,200.00 


100.00 


5,000.00 


50.00 


13,300.00 


200.00 


5,100.00 


30.00 


3,200.00 


30.00 


5,000.00 


+ 


5,100.00 


30.00 


9,500.00 


+ 


27,900.00 


90.00 


4,600.00 


20.00 


1,400.00 


♦ 


920.00 


20.00 


4,600.00 


60.00 


600.00 


+ 


3,000.00 


* 


100.00 


* 


1,771.51 


15.00 


7,000.00 


177.00 


2,000.00 


169.00 


2,000.00 


+ 


3,000.00 


75.00 


300.00 


V 


200.00 


+ 



31,491.51 556.00 
286,333.08 3,546.05 

406,032.58 7,491.52 



4,750.00 


+ 


S, 000. 00 


+ 


4,000.00 


290.00 


1,000.00 


6.25 


6,000.00 


330.00 


20,750.00 


626.25 



20,261.71 169.82 
$915,937.65 $25,392.50 



19,