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

Lebanon Valley College 

BULLETIN 

Vol. XXVII JUNE. 1938 No. 3 



Supplementary Report 

Giving Financial Statement of the 

Business from July I, 1937, to 

May 25, 1938 



Presented to the Board of Trustees at their 
Annual Meeting, Friday, June 3, 1938 



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



Exhibit A 

BALANCE SHEET 
MAY 25, 1938 



I. Current Funds j 



ASSETS 



A General: 

Cash ^ 

Investinents, Notes Receivable 
Accounts Receivable, Students 
Advances Receivable: 

Farm Account 
Inventories: 

Dining Hall Supplies |1,352.01 



,793.20 
,459.87 
,264.43 

74.89 





Laboratory Supplies 


l^ 


800, 


.00 


3,152.01 








Deferred items — Prepaid 


Insurance 






2,810.06 








Unanortized Remodeling 


Expense 






5,135.92 








Deficit, per Exhibit B 








37,230.30 
89,920.68 








B Restricted: 
















Cash 








2,017.78 


191, 


,938.46 


II. 


Loan Funds: 
Cash 








1,446.39 








Notes Receivable 








6,406.56 


7, 


,852.95 


III. 


Endowment and Other Non-Expendable Funds: 






144.40 








Cash 








Bond s 








318,717.19 








Stocks 




• 




519,291.06 








Kort gages 








12,500.00 








Notes Receivable 








18,626.71 








Real Estate (Farms) 








47,476,25 


916 


,755.61 


IV. 


Plant Funds: 

Invested in Plant: 
Lands 
Buildings 

Underground Heating, 
Electrical System 
Equipment 
Current Additions and 


Plumbing and 
I Betterments 






39,000.00 
503,219.84 

17,089.39 
114,246.14 








from General Fund 








3,844.92 


677, 


,400.29 


V. 


Agency Funds: 
Cash 








402.37 




/, 




Advances Receivable from General Fund 






183.19 








Farm Account: Improvements 2, 


500. 


.00 










Deficit 

Total Assets 


h 


171. 


.14 


3,671.14 


4, 


,256.70 




*i 


,698, 


,204.03 



2. 



Exhibit A 

BALAl^CE SHEET 
MAY 25, 1938 

LIABILITIES AND FUUDS 

I. Current Funds ; 
A General; 

Notes Payable $60,470.00 

Accounts Payable 5,661.53 

Advances Payable: 

Agency Funds 163.19 

Students' Deposits 2,988.05 

Students' Activities 1,534.93 

Deferred Credits: 

Unearned Incoire, per Schedule E-1 12,712.98 
Reserve — Doubtful Accounts Receivable, 

Students 6,350.00 

89,920.68 
B Restricted: 

Funds 2,017.78 }91,938.46 

II. Loan Funds ; 

Funds 7,852.95 7,852.95 

III. Endowment and Other Non-Expendable Funds ; 
Endowment Funds; 

General |684,963.91 

Restricted: 

Student Aid $134,371.66 

Other 95,020.04 229,391.70 914,355.-61 
Annuity Funds 2,400.00 916,755.61 

rv. Plant Funds : 

Net Investment in Plant; 

Balance July 1, 1937 673,555.37 

Add, Current Investment in Plant 

from General Fund 3,844.92 677,400.29 

v. Agency Funds ; 

Farm Account; 

Notes Payable 4,000.00 

funds 256. 70 4,256.70 

Total Liabilities and Funds $1,698,204.01 



3. 



Exhibit B 

STATEMENT OF CURRENT FUNDS 
JULY 1, 1937 TO MAY 25, 1938 



IIJCOME 



Educational and General, Schedule B-1, 

Sec. I $133,527.65 

Auxiliary Enterprises and Activities, per 

Schedule B-1, Sec. II 53,493.91 

Non-Educational Purposes, per Schedule B-1, 

Sec. Ill 295.72 

Total Income #167,317.26 

EgEKSES 

Educational and General, per Schedule B-2, 

Sec. I 184,675.70 

Auxiliary Enterprises and ActiTities, per 

Schedule B-2, Sec. II 45,400.23 

Non-Bducetional Expenses, per Schedule B-2, 

Sec. Ill 3,525.72 

Total Expenses 183,499.66 

Net Gain for the period July 1, 1937 to 

May 25, 1938 3,817.68 

AHALYSIS OF DEFICIT ACCOUNT 

Net Gain for the period July 1, 1937 to 

May 25, 1938 as shown above 8,817.68 

Additions and Betterments invested in Plant dur- 
ing the period July 1, 1937 to May 25, 1938 3,844.92 

Total Debits to Current Fund Surplus Account 27.29 

Deficit July 1, 1937 37,208.01 

Current Fund Deficit May 25, 1938, carried 

to Balance Sheet "Exhibit A" fS7,280.80 



4. 



Schedule B-1 

STATEMENT OF CUEREKT INCOME 
JULY 1, 1937 TO MAY 25, 1938 



(1) student luoomet 






A School of Liberal Arts and Sciences] 






Tuition tTS.bgS.SS 






Less Scholarships 13,611.59 


161,981.99 




Matriculation Fees 


1,683.47 




Biology Fees 


2,148.00 




Chemistry Fees 


2,341.00 




Physios Fees 


380.00 




Psychology Fees 


162.00 




Practice Teaching Fees 


1,032.50 




Graduation Fees 


1,246.00 


♦70,973.96 


B Auxiliary Educational Schools t 






Extension School 


1,560.00 




Music School 


30,910.71 




Saturday School 


1,704.00 




Simmer School 


3,877.03 


38,051.74 


(2) Endowment Income 






General Purposes 




25,073.25 


(3) Gifts and Grants t 






Benevolence 


5,935.50 




Other 


841.90 


6,777.40 


(4) Other Sources t 






Chemical Analysis by Dr. Bender 


73.50 




Group Life Insurance 


720.80 




Interest on Current Funds 


502.89 




Library Income 


404.50 


1,701.69 


Total Educational and General Income 




142,578.04 


Auxiliary Enterprises and Activities i 




(1^ Dormitories 1 




Rentals 


17,005.14 




Cleaning Fees 


635.00 


17,640.14 


(2) Dining Halli 






Students' Board 


39,132.75 




Sale of meals to others 


323.16 




Sale of food and operating supplies 


10.45 


39,466.36 


(3) Placement Bureau: 




50.00 


Total Income Auxiliary Enterprises 






and Activities 




57,156.50 



5. 



Schedule B-1 

STATEMENT OF CURRENT INCOME 
JULY 1, 1937 TO MAY 25, 1938 

III. Income for Non-Educational Purposes : 

Miscellaneous 1295.72 

Total Income $ 200,030.26 

Amount applicable to period July 1, 1937 

to May 25, 1938, per Schedule E-2 187,317.28 

Total Unearned Income, carried to Balance 

Sheet $12,712.98 



6. 



Schedule B-2 

STATEMENT OF CURRENT INCOME 
JULY 1, 1937 TO MAY 25, 1938 

I. Educational and General ; 

(1) Student Income i 

A School of Liberal Arts and Science $70,973.96 

B Auxiliary Educational Schools 38,051.74 
Total Student Income applicable 

to year 109,025.70 

Income applicable to eleven month 
period covered by report equals 
11/12 of $109,025.70, or t99.940.23 

(2) Endowment Income for General Purposes ; 

Estimated annual endowm.ent income 

for operating expenses 27,500.00 

Income applicable to eleven month 
period covered by report equals 
11/12 of $27,500.00, or 25,108.33 

(3) Gifts and Grants 6,777.40 

(4) Other Sources 1 ,701 .69 

Total Income for Educational and 

General Purposes $ 133,527.65 

II. Auxiliary Enterprises and Activities ; 

(1) Dormitories t 

Income applicable to year 17,640.14 

Income applicable to eleven months 
covered by report equals ll/l2 
of $17,640.14, or 16,170.13 

(2) Dining Hall ; 

Income applicable to year (9 mos.) 39,466.36 

Income applicable to period 
covered by report - 17/18 of 
$39,466.36, or 37,273.78 

(3) Placement Bureau 50.00 

Total Income from Auxiliary 

Enterprises and Activities 53,493.91 

II. Income from Non-Educational Purposes ; 295.72 

Total Income applicable to period 

July 1, 1937 to May 25, 1938 $ 187,317.28 



7. 



Schedule B-3 

STATEMENT OF CURRENT EXPENSES 
JULY 1, 1937 TO KAY 25, 1938 

I. Educational and Generals 



(1) General Administration and Eo^enset 






A General Adnlnletrative Offioes 






Via eel lane ous 


I2S2.91 




Office Supplies 


SOD. 34 




Postage 


278.63 


.. " 


Salaries 


16,042.52 




Stationery and Printing 


595.81 




Telephone and Telegraph 


149.06 #16.699.26 


B General Expense t 






Advertising, General 


172.48 


■,•.:■ • , ':< 


Adrertising, Bulletins & Catalogs 


840.69 


. , • ■ -v 


Alumni Secretary, Salary and 






Expense 


748.75 




Auditing and Accounting Serrioes 


267.60 




Commencement Expenses 


88.70 




Conqpensation Insurance 


486.12 




Credit Adjustment Serrice 


67.60 




Diplomas 


267.59 




Group Life Insurance 


2,006.97 




Lecture Expenses 


75.00 




Membership Fees to Associations 


199.00 




Miscellaneous 


876.10 




Press Service 


847.56 




Public Liability Insurance 


81.00 




Student Solicitation Expense 


1,973.70 


. . _■ • . . .' 


Trarel and Entertainment- 






Faculty 


99.10 




Officers 


906.20 




Trustees 


12.26 




Alumni Expense 


126.43 


10.132.83 126.732.09 


(2) Instruction and Researcht 






A School of Liberal Arts and Science t 






Salaries, Faculty 


67,656.26 




Salaries, Student Assistants 


1,448.90 




Salaries, Practice Teaching 


420.00 


69,424.16 


Depairtmental Expenses t 






Biology Laboratory 


813.76 




Chemistry Laboratory 


736.44 




Physics Laboratory 


376.51 




Psychology Laboratory 


18.34 




History Department 


65.61 


2.000.66 61.424.81 


B Auxiliary Schools i 






Extension School i 






Faculty Salaries 


876.00 




Travel and Miscellaneous Expense 


271.66 


1,146.66 



8. 



Schedule B-3 



I. Educational and General » 

(2) Instruction and Research t 

B Auxiliary Schools j 

Music Schools 

Faculty Salaries 

Practice Teaching— Salaries 

and Expense 
Tuning, repairs, etc. 
Music 
Salaries— Other than faculty 

Sumner Schools 
Faculty Salaries 
Miscellemeous Expenses 



STATEMENT OF CURRENT EXPENSES 
JULY 1, 1937 TO MY 25, 1938 



$21,338.79 



1,033.50 
1,257.26 

132.98 

510.00 $24,272.53 



2,296.76 
1.494.64 



Saturday School t 
Faculty Salaries 

(3) Library I 

Books and magazines 

Salaries 

Supplies and Binding 

(4) Operation and Maintenance of Physical Plant ; 

Care and Maintenance of Grounds 

Care of Buildings and Furniture 

Heat 

Infirmary 

Light and Power 

Miscellaneous 

Operating Supplies 

Planting Expenses 

Property Insurance 

Repairs of Buildings and Equipment 

Taxes 

Water 

Total Educational and General Expense 



3,791.40 



921.20 ♦30,131.78 



1,472.01 
3,439.92 

106.33 5,018.26 



1,742.50 

1,952.24 

3,154.31 

46.49 

1,061.56 

54.10 

236.02 

4.50 

880.69 

1,819.30 

153.04 

162.21 



11,266.76 
134,573.70 



II. Auxiliary Enterprises and Activities t 
(1) Dormitories ii 

Care of Buildings and Furniture 

Heat 

Light and Power 

Miscellaneous 

Operating Supplies 

Property Insurance 

Rent 

Repairs 



3,103.83 

3,201.06 

1,700.65 

37.00 

147.13 

501.35 

431.50 

3,048.93 



9. 



Schedule B-3 

STATEMENT OF CURRENT EXPENSES 
JULY 1, 1937 TO MY 25, 1938 

II. Auxiliary Enterprlsea and Activitiea : 

(1) Dormitoriee , Continued 

Telephone 
Water 

(2) Dining Hall t 

Food 

Gas 

Laundry 

Light 

Miscellaneous 

Operating Supplies 

Renewals and Repairs 

Salaries and Wages 

Telephone 

Water 

(3) Placement Bureau Expenses ; 

(4) Leadership Training School Expenses 

Total Expenses, Auxiliary Enterprises 
and Activities 



III. Other Won-Educational Expenses ; 
Debating Expeuses 
Interest on Loans 

Total Expenses for the period 
July 1, 1937 to May 25, 1938 





1121.82 






429.09 


$12,722.36 


.,■■ '■■.■>. 


122,641.95 

193.67 

412.31 

: ...^ 527.20 

103.25 

180.42 

y,:.v: 730.39 

. ... - 7,681.64 

19.50 






79.54 


32,569.87 
35.09 
72.91 


rises 










145,400.23 


■; '■■'■■^' '-''-' 


85.70 






3,440.02 


3,525.72 




♦183,499.65 






10. 



EXTENSION SCHOOL REPORT 
JULY 1, 1937 TO VAX 25, 1938 



Income J 



Registration Fees 




#44.00 




Tuitionj 








First Semester |722.00 








Second Semester 794.00 




1,516.00 


$1,560.00 


Expenses 1 








Salaries 




875.00 




Traveling and miscellaneous expenses 




271.65 


1,146.65 


Profit 






$413.36 


(1936-1937 Profit to 1937 Summer School - |20. 


.42) 







Fanns 

Bonds: 

Industrial 
Public Utility 
Railroad 
Real Estate 

Stocks! 
Preferred 
Common s 

Agriculture 

Auto Accessories 

Automobile 

Aviation 

Bank 

Broadcasting 

Building 

Electric Equipment 

Food 

Metals 

Office Equipment 

Oils 

Rubber 

Steel 

Steel Specialties 

Utility 

Mortgages 

Notes Receivable 

Cash awaiting investment 



SUIJMAEY OF ENDOWMENT FUND INVESTMENTS 
MAY 25, 1938 

Amount Percentage 
Invested of Total 





147, 


,476. 


.25 


5.17 


$9,600,00 








1.04 


188,572.99 








20.56 


74,746.04 








8,15 


45,798.16 








4.99 




318, 


,717, 


.19 




94,649.50 








10.47 


15,300.00 








1.66 


14,400.00 








1,56 


32,293.36 








3.52 


10,148.21 








1.10 


77,784.13 








8.48 


5,800.00 








.63 


30,300.00 








3.30 


12,000.00 








1.30 


5,500.00 








.59 


40,766.31 








4.44 


8,000.00 








,87 


46,876.05 








5.11 


13,300.00 








1,45 


65,981.99 








7,19 


10,300.00 








1,12 


35,891.51 








3.91 




519, 


,291, 


.06 






12, 


,500, 


.00 


1.36 




18: 


,626, 


,71 


2.03 




916, 


,611, 
144. 


.21 
,40 


IOC. 00 




$916, 


,755. 


,61 





11. 



ENDOTWENT FUSD IKVESTMEKTS 
MAY 25,. 1938 

Amount FARMS 

Farm at East Berlin 
Farm at Shiremanstomi 

IHPUSTBIAL BONDS 

110,000 Warner Company 

PUBLIC UTILITY BONDS 

10,000 American & Foreign Power Company, Inc* 

10,000 American Utilities Service Corporation 

15,000 Associated Electric Company 

15,000 Central States Electric Corporation 

10,000 Cities Service Company Crt. 

10,000 Cities Service Power 4 Light Compcuiy 

25,000 Consolidated Gas Utilities 

10,000 Continental Gas & Electric Corporation 

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 New England Gas and Electric Association 

10,000 Portland General Electric Company 

5,000 Southwest Gas Company of Oklahoma Ist Mortgage 

10,000 Standard Power and Light Coii>oration 

10,000 United Light 4 Power Corporation 

10,000 United Light and Railways Company 
195,000 

RAILROAD BONDS 

15,000 Buffalo, Rochester 4 Pittsburgh Railway Company 

16,000 Chicago 4 Alton Railroad 

10,000 Colorado and Southern Railway Company 

10,000 Illinois Central Railroad 

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

New Orleans Railroad Compemy 

10,000 Lehigh Valley Railroad Company 

10,000 Missouri Kansas 4 Texas Railroad 

10,000 Saint Johnsbury and Lake Champlain Ist Mortgage 



REAL ESTATE BONDS 

5,000 Atlanta Medical Arts Building 

7,000 Lemoyne Trust Company, Pennsylvania 

1,500 Lemoyne Trust Company, Pennsylvania (Certificate of Deposit) 

42,200 United Brethren Publishing House 
65,700 
350,700 Total Bonds 



12. 







ESDOWMENT FUUD INVESTKRIfTS 








KAY 25, 1938 


Rate Per Cent 


Maturity 


Book Value 

19,776.26 
37j700.00 


Income 




1944 


47.476.25 




6 


9,600.00 


1600.00 


5 


2030 


9,300.00 


500.00 


6 


1964 


9,500.00 


600.00 


e 


1961 


14,000.00 


750.00 


5 


1948 


14,000.00 


750.00 


5 


1950 


9,600.00 


250.00 


5-1/2 


1949 


9,500.00 


276.00 


6 


1943 


26,951.74 


750.00 


5 


1968 


9,927.78 


250.00 


6-1/2 


1955 


9,800.00 


660 ..00 


6 


1956 


4,200.00 


300.00 


5 


1956 


9,700.00 


600.00 


5 


1957 


9,400.00 


500.00 


5 


1950 


9,334.03 


600.00 


4-1/2 


1960 


9,400.00 


460.00 


6 


1964 


5,000.00 


300.00 


6 


1957 


9,500.00 


600.00 


6 


1976 


9,700.00 


600.00 


5-1/2 


1952 


9,759.44 


495.00 






188,572.99 


9,020.00 


4-1/2 


1957 


14,700.00 


675.00 


3 


1949 


13,500.00 


450.00 


4-1/2 


1960 


4,600.00 


337.50 


4-3/4 


1966 


9,600.00 


475.00 



4.950.00 333.75 



13. 



ENDOWMENT FUND INVESTMENTS 

MAY 25, 1'938 

Shnree PREF ERRED STOCKS 

200 Alabaira Great Southern Reilroad Company 

20 Amerex Eolding Corporation 

200 American Cities Power and Light 

100 Bimiinghani Electric Company 

100 A. U. Byere 

100 Electric Power 4 Light Company 

100 Iowa Electric 

25 Iowa Electric 

50 A, S. Kreider Company 

70 A. S. Kreider Shoe Com.pany 

100 New England Power Aseociation 

4 Pennsylvania Power & Light Company, Inc. Cumulative 

5 The Potomac Edison Com.pany 

50 Southwest G«8 Company of Oklahoma 

100 Uteh Power & Light Company, Inc. 
1,224 

COia'ON STOCKS 

AGRICULTURE 

100 Gleaner-Earvester 

150 International Harvester Com.pany 



250 



AUTO ACCESSORIES 



100 Bendix Aviation 

100 Electric Auto Lite 

100 Houialle-Hershey Corporation "B" 

300 

AUTOMOBILE 

100 Chrysler Corporation 

300 General Motors 
400 

AVIATION 

100 Curtis Wright A 

100 Sperry Corporation 

100 United Aircraft 
300 

BANK 

300 Chase Nntional Bank of New York 

100 Chemical Bank & Trust Company 

100 Empire Trust Company 

100 Irving Trust Company 

225 Bank of Manhattan Company 

300 National City Bank of New York 

100 Peoples Pittsburgh Trust Company 



1,225 



14. 



Rete Per Cent Maturity 



2-3/4 

6 

7 

6 

7 

6-1/2 

5-1/2 

5-1/2 

6 

5 

7 

7 

7 



EWrOWlffiNT FUKE 


1 INVESTVEKTS 




MAY 25, 1938 


Book Velue 


Incoire 


111,000.00 


$601.00 


700.00 


24.00 


9,500.00 


550.00 


9,300.00 


600.00 


9,549.50 


303.50 


9.700.00 


■f 


9,200.00 


+ 


2,250.00 


215.64 


12,000.00 


522,50 


9,350.00 


100.00 


400.00 


20.00 


500.00 


35.00 


2,000.00 


♦■ 


9,200.00 


437.51 


94,649.50 


3^409.15 

=a 1 1 1 1 i~- 



5,300.00 


♦ 


10,000.00 


125.00 


15,300.00 


125.00 


4,600.00 


50.00 


5,200.00 


225.00 


4,600.00 


112.50 


14,400.00 


387.50 


10,000.00 


+ 


22,293.36 


825.00 


32,293.36 


825.00 


2,500.00 


50.00 


4,448.21 


120.00 


3,200.00 


100.00 


10,148.21 


270.00 


20,500.00 


420.00 


11,000.00 


180.00 


5,000.00 


100.00 


4,600.00 


60.00 


12,384.13 


318.76 


18,300.00 


300.00 


6,000.00 


160.00 


77,784.13 


1,538.76 



15. 



ENDOWMENT PURL INVESTMENTS 
MAY 25, 1938 

Sharee COMMON STOCKS 





BROADCASTING 


100 


Colvunbla Broadcasting A 




BUILD lUG 


100 


Americas Radiator 


100 


Congoleum Nairn, Inc. 


60 


Crane Company 


100 


General Refractoriee 


50 


The Glidden Company 


100 


Holland Furnace Company 


500 






ELECTRIC EQUIPMENT 



200 General Electric Company, Ino» 

FOOD 
100 National Biscuit Company 

METALS 

100 American Smelting * Refining Company 

200 Anaconda Copper 

100 Inspiration Copper 

200 Kennecott Copper 

100 Phelps Dodge 

700 

OFFICE E<;UIPMENT 

103 Burroughs Adding Machine 
100 National Cash Register 
203 



1,206 



OILS 



100 Atlantic Refinirg Con^any 

200 Consolidated Oil 

100 Mid-Continent Petroleum Corporation 

6 Mission Corporation 

200 Ohio Oil Company 

100 Plymouth Oil 

100 Pure Oil 

100 Shell Union Oil 

100 Socony Vacuum Oil 

100 Standard Oil Company, Inc., of New Jersey 

100 Transwestem Oil Company 



16. 



END0TO4EMT FUND INVESTKIEMTS 
MY 25, 1938 

Rate Per Cent Katurlty Book Value Income 

15,800.00 1340.00 



3,200.00 


60.00 


5,200.00 


125.00 


4,600.00 


55.58 


6,600.00 


+ 


4,500.00 


105.00 


6,200.00 


50.00 


30,300.00 


396.68 



12,000.00 420.00 



5,500.00 160.00 



7,500.00 


175.00 


12,200.00 


250.00 


3,500.00 


♦ 


14,500.00 


425.00 


3,066.31 


45.00 


40,766.31 


895.00 


4,500.00 


123.60 


3,500.00 


125.00 


8,000.00 


248.60 


5,000.00 


76.00 


6,000.00 


150.00 


5,900.00 


+ 




1.25 


6,822.05 


100.00 


4,600.00 


165.00 


2,600.00 


25.00 


5,164.00 


+ 


2,000.00 


80.00 


8,000.00 


125.00 


1,800.00 


♦ 


46,876.05 


721.25 



17. 



ENDOWMENT FUND INVESTMENTS 
MAY 25, 1938 

Shares COMMON STOCKS 

RUBBER 

100 Firestone Tire and Rubber 

100 Goodrich Rubber 

100 Goodyear Tire & Rubber 



300 



1.200 



STEEL 



100 Allegheny Steel 

100 American Rolling Mills 

100 Bethlehem Steel Corporation 

300 Birdsboro Steel Foundry & Machine Company 

100 Copperweld Steel 

100 Midland Steel Products Company 

100 Republic Steel 

100 Sharon Steel 

200 United States Steel Corporation 



STEEL SPECIALTIES 



100 Blaw-Knox Company 

100 Tokheim Oil Tank A Pump Company 

200 

UTILITY 

100 American Water Works 

Associated Gas & Electric Certificate 
350 Central Electric A Telephone Coirpany 
100 Central West Compemy Voting Certificate 
200 Columbia Gas A Electric 
100 Consolidated Edison of New York 
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 
100 United Gas Improvement Company 
45 Winnipeg Electric Company Certificate Non-Cvnnulative Class A 
^350 Winnipeg Electric Company Contingent Certificate 
1,816 + $350 
8,999 ••• 1350 Total Stocks - Conanon 

10,223 + 1350 Total Stocks 



18. 



ENDOTWWENT FUND INVESTMENTS 
MAY 25, 1938 

Rate Per Cent Maturity Book Value Income 



10,300.00 



15,100.00 


$175.00 


3,200.00 


50.00 


5,000.00 


175.00 


13,300.00 


400.00 


5,300.00 


+ 


5,100.00 


140,00 


10,000.00 


250.00 


6,434.79 


375.00 


3,200.00 


150.00 


6,547.20 


50.00 


5,000.00 


♦ 


5,100.00 


90.00 


19,300.00 


200.00 



65,981.99 1,255.00 



4,900.00 
5,400.00 



4,600.00 


40.00 


-»• 


28.00 


1,400.00 


90.00 


920.00 


100.00 


4,600.00 


50.00 


6,400.00 


+ 


600.00 


+ 


3,000.00 


+ 


100.00 


+ 


1,771.51 


45.00 


7,000.00 


240.00 


2,000.00 


26.25 


3,000.00 


75.00 


300.00 


+ 


200.00 


+ 



55,891.51 694.25 
424,641.56 8,700.94 

519,291.06 12,110.09 



19. 



ENDOWMENT FUND IKVESTMElTrS 
MAY 25, 1938 

Amount MORTGAGES 

$2,000 Jacob W. Eaum 

3,500 Derry Street Church United Brethren in Christ, Earrieburg, Pa. 

1,000 Union Trust Company of Penneylvania , Harrieburg, Pia. 

6,000 P. A. W. Wallace 
12,500 

MOTES 

Notes from Churches and Individuals 

Total Investments 



20. 



Rate Per Cent Maturity 

6 
6 
6 
5-1/2 



SNDOTOJENT FUND INVESTMENTS 




MY 


25, 1938 


Book Value 




Income 


12,000.00 




$16.00 


3,500.00 




229.11 


1,000.00 




12.50 


6,000,00 




337.50 


12,500.00 




594.11 



18,626.71 76.25 
♦916,611.21 127,270.34 



21. 



SUMMEE SCHOOL REPORT 
MAY 25, 1938 



Income} 

Registration Fees 

Tuition 

Practice Teaching Fees 

Profit on sale of books 

Hershey Demonstration School 

Room Rent 

Extension School Profit 1936-1937 

Expensee ; 

Salaries paid to faculty 
Registration fees retained by college 
Room Rent retained by college 
Miscellaneous expenses 

Balance to be distributed 



$102.00 




3,380.00 




282.00 




15.03 




50.00 




48.00 




20.42 


$3,897.45 


2.296.76 




102.00 




48.00 




1,296.76 


3,743.52 




$153.93 



SATURDAY MD EVENING CLASS REPORT 
WAT 25, 1938 



Income t 

Registration fees 

Tuition: 

First semester 
Second semester 



#888.00 
816.00 



Expenses t 

Salaries paid to faculty 
Registration Fees retained by college 
Ten per cent retained by college 

Balance to be distributed 



$34.00 



1,704.00 



921.20 

34.00 

170.40 



$1,738.00 




22.