Entered as second-class matter at Annville, Pa., under Act of August 24, 1912
To the Members of the Board of Trustees of Lebanon Valley College:
The Finance Committee is herewith presenting its report of the fiscal year
beginning August 1, 1928, and ending August 31, 1929. A supplementary report,
giving a record for a portion of the fiscal year will be ready for distribution
at the meeting of the Board.
Endowment Fund
The endowmient fund at the beginning of the fiscal year, Septemiber 1,
1928, was $674,902.69. There was added to this fund during the year a total
of $102,148.65. Of this amount we received from the General Education Board
(Rockefeller) $36,009.64, the balance of $66,140.01 coming from subscriptions
given in 1924 or from special donations to the endowment fund. The total in
the endowment fund at the end of the fiscal year August 31, 1929, was
$777,051.34.
Between the period of September 1, 1929, and April 25, 1930, there was
added to the endowment fund an additional $132,106.04 of which $40,376.87
was paid by the General Education Board (Rockefeller) in payment in full
of their conditional subscription of $175,000 made during the campaign of
1924. The remaining amount or sum of $91,729.17 was received from sub-
scribers to the campaign of 1924 or from special donations to the endowment
fund.
Of the amount listed in this and the above paragraph as special donations
is included the sumi of $22,379.22 which was paid from the Profit and Loss
acooimt into the endowment account. As a matter of information the records
will show that out of the total subscription of $382,782.90 made in the campaign
of 1924, there was a total amount of $341,811.44 paid on subscriptions. The
remaining amount collected on the endowment fund, the sum of $38,167.51, was
received from other sources.
Pursuant to the action of the Board of Trustees at the last meeting and
in accordance with the action of your Committee, we bought about $45,000 of
notes of individuals and churches, the principal sum of which was loaned to
them on a note tO' pay their subscriptions. These notes were purchased for
the endowment account, but before the final report was sent to the General
Education Board, it seemed wise to the Cornmittee to take these notes out of
our endowment investments and in accordance therewith they were purchased
by the current account of Lebanon Valley College and are now in their pos-
session. These notes now constitute an investment for the current account
and will earn interest at the rate oi five per cent. With the proceeds from
the sale of these notes to the endowment account, we purchased for that account
a corresponding amount of high grade bonds.
During the year we received from Sophia Plitt Estate the sum of $475
which was added to the Plitt Scholarship Fund, and the sum of $905 from
Mrs. Mary A. Reitzel which was added to the endowment account, the income
of which was to be used for current expenses.
Endowment Income
As indicated on page 11, Schedule III, the total income received from
invested funds was $38,479.23. Of this amount there was turned into the College
treasury to be used for general expenses, payment of professors, and books
for the library $33,410.51. The balance was placed to the credit of various
scholarship funds and was distributed as designated by the donor.
2
Scholarships and Trust Funds
For a number of years there has been considerable discussion as to several
funds and scholarships heretofore given to the college and which were either
lost by bad investment or did not appear in the published reports. Several
years ago it became the policy of your Committee to restore these fimds as
rapidly as possible. We are glad to report that the Pennsylvania C. E. Scholar-
ship has been restored to its full amount in August, 1925. It was discovered
that a part of the money received from the United Enlistment Movement a
few years ago was improperly reported and in reality was tO' be added to the
Plitt Scholarship. In August, 1925, we added $674.90 to this fund. During
the present year we added $5,488 to the Mary A. Dodge Fund and have now
restored that fund to its original amount of $9,500. We have also established
a Peter Graybill Scholarship Fund of $1,000 that was originally given as part
consideration of the purchase price for a lot which is now a part of our campus.
The sum of $500 was set aside as a Jacob F. Greasley Scholarship Fund, this
amount having been originally given for a scholarship in 1894. The sum of
$300 was set aside as the Levi S. Reist Scholarship Fund, this amount having
been paid in 1895, and finally the sum of $500 was set aside as the Elizabeth
Meyer Fund, the income of which is to be used for current expenses. This
amoimt was originally paid in 1901.
Investments
The Committee on Investments has now invested the sum of $907,764.17
in good securities, due regard being had for diversification, maturity, yield and
stability. These investments at the time of going tO' press, represent bonds to
the amount of $847,765.42, stocks to the amotint of $12,522.50, and the farms
as originally given tO' us. Inasmuch as we have about completed our active
investments,, we are including in our supplementary report a complete list of
all of our bonds and securities. We trust that this list will meet with your
entire approval.
Repairs and Improvements
Inasmuch as our; first aim during this A^ear was the consideration of the
endowment campaign and receiving the entire amount from the General Educa-
tion Board, the matter of extensive repairs and improvements was postponed
for the time being. It will, however, be necessary for us tO' count on consider-
able improvements and repairs during the coming year.
Miscellaneous
With reference to the campaign of 1924, While the period of the Rocke-
feller payment has expired and in fact they have paid the entire amount,
there is nevertheless the sum- of $40,971.26 owing from subscribers in that cam-
paign. Your Committee has attempted to collect every available dollar on these
subscriptions, but would recommend to the Board that another effort be made
to collect the unpaid amounts and that as a means to aid collections, the final
report showing the quota, amount subscribed and the amount paid by each
individual church in the respective conferences be published as a final report
in both the East Pennnsylvania and Pemisylvania Conference minutes, and
that the college publish a bulletin showing the same data, expenses of all of
which shall be paid by the college. We feel sure that if the books could be left
open tmtil September 1, and then the report printed as of that date, many indi-
viduals and churches would be willing to make an extra effort to pay the balance
due in individual churches and secure for them, a clear record in the report.
The suggestion of this has proven very satisfactory with many of the churches
and if the time is extended, we feel sure that we can secure many more churches
to be paid in full.
J. R. Engle,
Chairman Finance Committee
BALANCE SHEET, LEBANON VALLEY COLLEGE
AUGUST 31, 1929
Debit
Permanent Fund Assets
Investments of Endowment Fund
(Schedule II, pages 8 to 11).. . . $775,252 04
Henry B. Stehman Fund — Loaned
to students 1,050 00
Cash awaiting investment 749 30 $777,051 34
Plant Assets
Buildings 474,030 00
Grounds 35,000 00
Books, equipment and furniture. . 65,600 00 574,630 00
Current Assets
Cash $1,623 63
Accounts Receivable
Fund for maintenance of Ath-
letic Field and Gymnasium. . 51 12
Extension Department, 1929-
1930 6 28 57 40 '
Materials and Supplies
Dining Hall 1,563 59
Heating Plant— Coal, etc 571 10
Laboratories (Estimated) 3,666 95 5,801 64
Insurance Premiums
Unexpired 1,846 08 9,328 75
$1,361,010 09
BALANCE SHEET, LEBANON VALLEY COLLEGE
AUGUST 31, 1929
Credit
Permanent Funds
Endowment (Schedule I, page 8). $775,351 34
Endowment subject to annuities.. 1,700 00 $777,05134
Plant Funds
From gifts from Conferences,
Churches and individuals, and
accumulated surplus 574,630 00
Current Funds and Liabilities
Unexpended Laboratory Fees
Psychology Laboratory 100 55
Appointment Bureau ^8 38 $138 93
Funds for Designated Purposes
Alumni Library Fund 7 19
Part of Matriculation Fees used
for student activities 725 20 732 39
Undistributed Scholarships
Pennsylvania Conference C. E.
Society 114 64
Presser Foundation— Music... 102 00 216 64
Income Credits
Paid in advance for 1929-1930. 50 00
Surplus invested in supplies and
materials and reserve 8,190 79 9,328 75
L,361,010 09
CASH RECEIPTS AND EXPENDITURES, LEBANON VALLEY
COLLEGE ACCOUNT, FOR FISCAL YEAR ENDING
AUGUST 31, 1929
Receipts
Student Accounts
Tuition $59,899 84
Music (Schedule VII, page 14) 7,971 00
Graduation Fees 1,305 00
Extension Department (Schedule VIII, page 14) 5,992 00
Summer School (Schedule IX, page 15) 6,119 75 $81,287 59
Student Fees for Educational Purposes
Matriculation fees retained by College 893 75
For Library 349 00
Laboratory
Biology 1,616 00
Chemistry 2,030 00
Physics 230 00
Psychology 189 00
Laboratory supplies sold 265 29 5,573 04
Endowment Income
General— Unrestricted 30,760 21
General — Restricted
Latin Chair and other Professorships 2,606 30
Library Account 44 00 33,410 51
Gifts and Grants
General Purposes — Unrestricted
Conference Benevolence Budget 10,908 50
General Purposes — Restricted
For books for Library 590 98
For equipment 55 00 11,554 48
Miscellaneous Income 310 45
Dining Room
From students 45,969 00
Extra meals served to visitors, etc 648 15
Supplies sold 409 44 47,026 59
Dormitories
Rent from students 15,430 55
Breakage Deposits 1,875 00
Paid for cleaning rooms 747 78 18,053 33
Specified for Non-Educational Purposes
Appointment Bureau 53 00
Matriculation fees
Athletics, General 3,529 00
Athletics, Field and Gymnasium 362 00
Crucible Account 349 00
Student Activities 1,810 00
Scholarships — Presser, Music 250 00
Pennsylvania C. E. Society 114 64 6,467 64
Sundry Accounts
Breakage Deposit from Day Students 390 00
Rent from Chapel 90 00
Accounts Receivable 1927-1928 185 72
Electrical supplies sold 84 51 750 23
204 433 86
Cash on hand September 1, 1928 2,452 64
$206,886 50
CASH RECEIPTS AND EXPENDITURES, LEBANON VALLEY
COLLEGE ACCOUNT, FOR FISCAL YEAR ENDING
AUGUST 31, 1929
Expenditures
Administration and General Expenses
Salaries of President and Office Employees .... $13,488 54
General
Student Campaign and Advertising 1,772 72
Printing 2,056 85
Interest 85 00
Miscellaneous expense 4,977 65 $22,380 76
Collecting and Soliciting Funds 360 89
Instructional
College Faculty 52,221 00
Practice Teaching 980 00
Librarians 2,642 12
Student Teachers 974 43 56,817 55
Supplies and Equipment
Biology Laboratory 1,298 15
Chemistry Laboratory 1,222 69
Physics Laboratory 654 31
Psychology Laboratory 120 55
Library 1,576 75
English Department 302 49 5,174 94
Auxiliary Departments
Conservatory of Music (Schedule VII, page 14)
Salaries 7,135 37
Expenses of tuning pianos, repairs, etc 563 92
Appointment Bureau 69 80
Extension 1928-1929 (Schedule VIII, page 14).. 5,409 70
Extension 1929-1930 6 28
Summer School (Schedule IX, page 15) 5,393 77 18,578 84
Maintenance of Plant
Salaries of engineers, janitors, etc 6,696 18
Heat, light and water 10,861 19
Equipment 5,384 86
Repairs 23,773 03
Taxes 356 13
Infirmary 627 56
Insurance 207 80 47,906 75
Dining Room (Schedule VI, page 13)
Salaries 12,423 58
Supplies 27,936 56 40,360 14
Non-Educational Work
Athletics, General 3,632 00
Athletics, Field and Gymnasium 368 87
Athletics for Women 564 21
Crucible Account 359 00
College Band 178 52
Student Activities 1,509 80
Debating Team 78 55 6,690 95
Sundry Accounts
Rent outside of Dormitories 607 50
Real Estate 3,530 00
Cash Refunds 753 94
Rebate on room rent 888 45
Breakage deposits returned 1,212 16 6,992 05
205,262 87
Cash on hand August 31, 1929 1,623 63
$206,886 50
7
Schedule I
ENDOWMENT FUND, AUGUST 31, 1929
Endowment Prior to 1918
Farms, appraised value $49,700 00
Securities 16,485 55 166,185 55
Endowment of 1918
Received in cash 261,519 65
Received in Liberty Bonds and other securities. . . 28,273 02
Received for campaign expenses 23,000 00
312,792 67
Paid out for campaign expenses 22,990 98
Balance for Investment 289,801 69
Endowment of 1924
Received in cash. . 270,378 40
Received in securities 240 00
Received for campaign expenses from subscribers. 19,030 18
Received for campaign expenses from individuals . 1,000 00
Received from General Education Board 134,623 13
425,271 71
Paid out for campaign expenses 20,030 18
Balance for Investment 405,241 53
Received from other sources than endowment subscribers 5,518 26
Received for Scholarship Funds from United Enlistment Movement
and Benevolence Budget 7,167 30
Received to be loaned to students 1,265 16
Profit and Loss Account 1,871 85
$777,051 34
Schedule II
INVESTMENT OF ENDOWMENT FUNDS
The Endowment Funds of the College on August 31, 1929, were invested as
indicated by the following summary and list of investments.
Amount
Invested
Percentage
of Total
United States Government Securities,
Municipal
Foreign Securities
Farms
Real Estate Bonds
Industrial Bonds
Public Utility Bonds
Railroad Bonds . . . .
Other Securities
General Education Board
Total
Loaned to students
Cash awaiting investment
$19,420 63
9,717 20
54,188 08
47,476 25
174,394 51
56,923 05
168,322 13
207,274 63
7,740 00
29,795 56
2.50
1.25
7.00
6.12
22.50
7.34
21.71
26.74
1.00
3.84
$775,252 04
1,050 00
749 30
$777,051 34
100.00
Investment of Endowment Funds in Detail
United States Government Securities
Liberty Bonds Par Value
First 31 $500 00
First 4i 400 00
Fourth 4i 18,850 00 $19,750 00
(Total cost of above group $19,420.63)
Foreign
Government of the Argentine Nation 6s 10,000 00
Commonwealth of Australia 5s 10,000 00
City of Berlin O^s 5,000 00
Copenhagen Telephone Company 5s 5,000 00
Republic of Cuba 5is 5,000 00
Kreuger & Toll Company 5s 5,000 00
The Lautaro Nitrate Company 6s 10,000 00
Kingdom of Norway 5s 5,000 00 55,000 00
(Total cost of above group, $54,188.08)
Farms
Located near Shiremanstown — Appraised value 37,700 00
Located near East Berlin — Appraised value. . . . 9,776 25 47,476 25
(Total cost of above group, $47,476.25)
Real Estate
Agar Packing and Provision Company 6§s 3,000 00
Atlanta Medical Arts Building 6|s 5,000 00
Belmont Apartments, New York, 6^s 500 00
Bioadway and Barclay Office Building, New
York, 6s _ 2,000 00
Bioadway and 41st Street Building, New York,
6|s _ 5,000 00
Carman Theatre, Philadelphia, 6s 5,000 00
Amos E. Curry 6% _ 5,000 00
Derry Street United Brethren in Christ, Harris-
burg, 6s 5,000 00
_^ The Dorset, New York, 6s 1,000 00
^ Eleven West 42nd Street, Inc., New York, 6|s 6,000 00
Fuller Building, New York, 5|s 14,000 00
Gatesworth Apartment Hotel, St. Louis, 6|s. . . 5,000 00
Jacob M. Gingrich 6% 6,000 00
Huntingdon Office Building, Miami, 7s 10,000 00
John H. Kettering 6% 5,000 00
Lemoyne Trust Company 5s 13,500 00
Loutellus Apartments, Pittsburgh, 6|s 5,000 00
Lynch Building, Jacksonville, Florida, 6|s 4,000 00
North Avenue Market, Baltimore, 6s 5,000 00
Ohio State Theatre Company, 7s 15,000 00
Ponce de Leon Apartment Hotel, Atlanta, 7s. . 5,000 00
Hotel Syracuse, Syracuse, New York, 6|s 4,000 00
Hotel Tattershall, Kansas City, Missouri, 7s.. . 5,000 00
United Brethren Publishing House, 6s 35,600 00
University Apartment Building, Pittsburgh, 7s. 4,000 00
Wilmington Auto Company Building, Wilming-
ton, 7s 500 00 174,100 00
(Total cost of above group, $174,394.51)
: Industrial
Canadian International Paper Company, 6s . . . 10,000 00
Goodyear Tire and Rubber Company, 5s 10,000 00
Jones & Laughlin Steel Company, 53 1,000 00
Koppers Gas and Coke Company, 5^3 5,000 00
Old Ben Coal Corporation 6s 5,000 00
The Philadelphia and Reading Coal and Iron
Company, 6s 7,000 00
9
Investment of Endowment Funds in Detail (Continued)
Industrial (Continued)
Sandura Company, 6s $5,000 00
Wilson & Company, Inc., 6s 15,000 00 $58,000 00
(Total cost of above group, $56,923.05)
Public Utility
Alabama Power Company, 5s 5,000 00
American Gas and Electric Company, 5s 5,000 00
Appalachian Electric Power Company, 5s 6,000 00
Associated Gas and Electric Company, 6s 5,000 00
Associated Gas and Electric Company, 55s. . . . 10,000 00
Birmingham Gas Company, 5s 5,000 00
California Gas and Electric Corporation, 5s. . . . 2,000 00
Central Power and Light Company, 5s 5,000 00
Cities Service Power & Light Company, 5|s. . . 5,000 00
Detroit City Gas Company, 5s 5,000 00
Eastern Utilities Investing Corporation, 5s. . . . 10,000 00
Florida Power and Light Company, 5s 5,000 00
Gatineau Power Company, 5s 5,000 00
Georgia Power Company, 5s 5,000 00
Harrisburg Light and Power Company, 5s 5,000 00
Illinois Power and Light Corporation, 5s 5,000 00
Indianapolis Power & Light Company, 5s 5,000 00
Indianapolis Water Company, 5|s 5,000 00
Interstate Power Company, 5s 6,000 00
Kentucky Utilities Company, 5s 5,000 00
Keystone Water Works Corporation, 5|s 10,500 00
New York Power and Light Corporation, 4|s. . 10,000 00
New York Steam Corporation, 6s 3,000 00
New York Steam Corporation, 5s 5,000 00
Norfolk and Portsmouth Traction Company, 5s 5,000 00
Penn Central Light and Power Company, 4|s. . 5,000 00
Penn-Ohio Edison Company, 5s 5,000 00
The Potomac Edison Company, 5s 5,000 00
Public Service Company of Northern Illinois, 5s 5,000 00
St. Joseph Railway, Light, Heat and Power
Company, 5s 5,000 00
Texas Power & Light Company, 5s 5,000 00 172,500 00
(Total cost of above group, $168,322.13)
Railroad Bonds
Allegheny Corporation, 5s 4,000 00
Atchison, Topeka & Santa Fe Railway Com-
pany, 4s 5,000 00
Atlantic Coast Line Equipment Trust, 6|s .... 3,000 00
Baltimore and Ohio Railroad Company, 5s ... . 5,000 00
Baltimore & Ohio Railroad Company, 6s 10,000 00
Canadian Pacific Railway, 5s 10,000 00
Chesapeake & Ohio Railway Company, 4|s. . . . 5,000 00
Chicago, Milwaukee, St. Paul & Pacific Rail-
road Company, 5s 5,000 00
Chicago, Rock Island & Pacific Railroad, 4s. . . 5,000 00
Chicago South Shore and South Bend Railroad,
5|s _ 10,000 00
Chicago Union Station Company, 65s 3,500 00
Denver & Rio Grande Railroad Company, 4s. . 10,000 00
Gulf, Mobile & Northern Railroad Company,
5is 10,000 00
Kansas City Southern Railway Company, 3s . . 4,000 00
Kansas City Terminal Railway Company, 4s . . 10,000 00
Midland Railroad Company of New Jersey, 6s. . 3,000 00
Missouri Pacific Railroad Company, 5s 15,000 00
New Orleans Terminal Company, 4s 10,000 00
10
Investment of Endowment Funds in Detail (Continued)
Railroad Bonds (Continued)
New York Central and Hudson River Railroad
Company, 4^3 _ _. $5,000 00
New York, Pennsylvania and Ohio Railroad
Company, A^s. 2,000 00
Northern Pacific Railway Company, 3s 15,000 00
Oregon-Washington Railroad and Navigation
Company, 4s 3,000 00
Pennsylvania Company, 4fs 5,000 00
Pennsylvania Railroad Company, 4|s 15,000 00
Pittsburgh, Cincinnati, Chicago and St. Louis
Railroad Company, 5s 5,000 00
Pittsburgh, Cincinnati, Chicago and St. Louis
Railroad Company, 5s 10,000 00
Seaboard Air Line Railway Company, 4a 5,000 00
Southern Pacific Company, 4|s 5,000 00
St. Louis-San Francisco Railway Company, 4|s . 10,000 00
St. Paul and Kansas City Short Line Railroad
Company, 4is ._ ._ 10,000 00
Western New York and Pennsylvania Railway
Company, 4s 2,000 00
Western Pacific Railroad Company, 5s 5,000 00 $224,500 00
(Total cost of above group, $207,274.63)
Municipal
City and County of Dallas, Levee Improvement
District, 5|s 10,000 00 10,000 00
(Total cost of above group, $9,717.20)
Other Securities
Durant Motors, Incorporated 240 00
The A. S. Kreider Shoe Company, 5|s 7.000 00
Potomac-Edison Company, 7% 500 00 7,740 00
Schedule III
RECEIPTS AND DISTRIBUTION OF ENDOWMENT INCOME
FROM SEPTEMBER 1, 1928, TO AUGUST 31, 1929
Receipts
Cash on hand September 1, 1928 $2,229 83
Total receipts ._ $40,695 66
Accrued interest returned to principal 2,216 43 38,479 23
$40,709 06
Distribution
Lebanon Valley College for other than Ministerial
Students _. .•:•••;• $2,172 67
Lebanon Valley College for credit to Ministerial
Students 1,385 47
Lebanon Valley College General Expense Account . . 30,760 21
Lebanon Valley College for Latin Chair and Other
Professorships 2,606 30
Lebanon Valley College Library Account 44 00
Loaned to student? from Scholarship Funds 304 17
Paid on Scholarships held over from 1927-1928 185 72
Paid in cash from Scholarship Funds 32 75
Globe Indemnity Company — Insurance on Adair
Bonds 240 00
Mathematics Prize from Max F. Lehman Fund 20 00 $37,75129
Cash on hand August 31, 1929 2,957 77
$40,709 06
11
Schedule IV
SCHOLARSHIP AND ENDOWMENT FUNDS
Principal Paid I
into Fund |
Income
Credited
Allegheny Conference C. E. Scholarship Fund
Dorothy Jean Bachman Scholarship Fund
Lillian Merle Bachman Scholarship Fund
Baltimore Fifth Church Otterbein Memorial S. S. Sch. .
E. M. Baum Scholarship Fund
Chair of English Bible and Greek Testament
Biological Scholarship Fund
Eliza Bittinger Scholarship Fund
Mary A. Bixler Scholarship Fund
I. T. Bufifington Scholarship Fund
Class of 1928 Sch. Fund (To be paid prior to April 1, 1930)
Rev. John P. Cowling Memorial Fund
Derickson Scholarship Fund
Mary A. Dodge Scholarship Fund
William E. Duff Scholarship Fund
East Pennsylvania Branch W. M. A. Scholarship Fund.. .
East Pennsylvania Conference C. E. Scholarship Fund. . .
Daniel Eberly Scholarship Fund
Josephine Bittinger Eberly Professorship of Latin Lan-
guage and Literature
Samuel E. Engle Scholarship Fund
M. C. Favinger and Wife Scholarship Fund
Fred E. Foos Scholarship Fund
C. C. Gingrich Scholarship Fund
G. D. Gossard and Wife Scholarship Fund
Peter Graybill Scholarship Fund
Jacob F. Greasley Scholarship Fund
Harnish-Houser Publicity Fund
Harrisburg Otterbein Church Scholarship Fund
Harrisburg Otterbein Sunday School Scholarship Fund. . .
J. M. Heagy and Wife Scholarship Fund
Bertha Foos Heinz Scholarship Fund
Harvey E. Herr Memorial Scholarship Fund
Edwin M. Hershey Scholarship Fund
H. S. Immel Scholarship Fund
Henry G. and Anna S. Kauffman and Family Scholarship.
Barbara June Kettering Scholarship Fund
Rev. and Mrs. J. E. and Rev. A. H. Kleffman Scholarship.
The A. S. Kreider Ministerial Fund
W. E. Kreider Scholarship Fund
John Evans Lehman Chair of Mathematics
Max F. Lehman Fund
Library Fund of Class of 1916
Mrs. Savilla Loux Scholarship Fund
Lykens Otterbein Church Scholarship Fund
Mechanicsburg U. B. Sunday School Scholarship Fund . .
Medical Scholarship Fund
Elizabeth Meyer Endowment Fund
Elizabeth May Meyer Musical Scholarship Fund
Mrs. Elizabeth H. Millard Memorial Scholarship Fund. .
Bishop J. S. Mills Scholarship Fund
Elizabeth A. Mower Beneficiary Fund
Grace U. B. Church of Penbrook, Pa., Scholarship Fund. .
Pennsylvania Branch W. M. A. Scholarship Fund
Pennsylvania Conference C. E. Scholarship Fund
Rev. H. C. Phillips Scholarship Fund
Sophia Plitt Scholarship Fund
Ezra G. Ranck and Wife Scholarship Fund
Levi S. Reist Scholarship Fund
Harvey L. Seltzer Scholarship Fund
Dr. Henry B. Stehman Fund for Theological Students. . . .
Hiram E. Stein metz Memorial Room Fund
Rev. J. B. Weidler Endowment Fund
$ 1,000 00
1,000 00
1,000 00
2,480 10
500 00
11,650 00
2,517 00
12,000 00
500 00
1.000 00
105 00
304 00
925 00
9,500 00
600 00
2,800 00
3.001 50
514 66
40,000 00
5,300 00
250 00
1,000 00
3,000 00
2,250 00
1,000 00
500 00
2,000 00
2,120 00
1,100 00
500 00
1,000 00
1,000 00
400 00
5,000 00
1,000 00
1,020 00
1,000 00
10,000 00
1,000 00
29,111 54
400 00
1,150 00
1,000 00
320 00
2,000 00
245 00
500 00
1,550 00
3,500 00
225 00
2,400 00
2,500 00
4,050 00
1,300 00
4,911 00
1,000 00
300 00
3,000 00
1,903 00
200 00
200 00 I
12
Schedule V
RECORD OF SCHOLARSHIPS AND OTHER FINANCIAL
ASSISTANCE GIVEN STUDENTS IN 1928-1929
Rebate to Ministers' Children _. $1,300 00
Ministerial Scholarships to students having license
to preach, in addition to those paid from Scholar-
ship Funds 564 53
Paid in cash from Designated Scholarships in En-
dowment Fund to College Accounts for credit to
Ministerial Students 1,385 47
Paid in cash from Designated Scholarships in En-
dowment Fund to College Accounts for credit
to other than Ministerial Students 1,099 55
Athletic Scholarships 3,420 00
Paid on Student Accounts by Athletic Council 5,478 00
Graybill Scholarship 75 00
Special Scholarships 295 00
Distributed from Funds received from —
Allegheny Conference C. E. Society 100 00
East Pennsylvania Conference C. E. Society. . . 118 90
East Pennsylvania Conference W. M. A 150 00
Pennsylvania Conference C. E. Society 295 73
Pennsylvania Conference W. M. A 150 00
Presser Foundation, to Music Students 400 00
Prize for Mathematics Student 20 00
Secured for Ministerial Students from the Board of
Education of the United Brethren Church 830 00
Paid in cash to student teachers, assistants, waiters,
librarians, janitors, etc 5,891 18
Loaned to students from Scholarship Funds 304 17 $21,877 53
Schedule VI
DINING HALL, 1928-1929
Receipts
From students _. _. $45,969 00
For meals served to visitors, etc 648 15
Supplies sold 409 44 $47,026 59
Expenditures
Inventory at beginning of year $999 31
Supplies purchased during the year 27,936 56
$28,935 87
Less inventory August 31, 1929 1,563 59
Net cost of supplies $27,372 28
Salaries 12,410 33
Cleaning drain 100 00
Water 237 60
Equipment purchased 623 36
$40,743 57
Summary
Total Receipts $47,026 59
Expenditures 40,743 57
Surplus $6,283 02
Note — No charge was made for use of building or alterations made in fall of 1928.
13
i
Schedule VII
MUSIC DEPARTMENT, 1928-1929
Receipts
Fnr TrKsfriiptmn ^^^^^ Second Both For
ror instruction Semester Semester Semesters Year
Piano $1,004 00 $956 50 $1,960 50
Organ 650 00 625 00 1,275 00
Voice 1,010 50 860 00 1,870 50
Violin 301 50 325 00 626 50
Harmony 234 00 216 00 450 00
Sight Singing 234 00 216 00 450 00
Dictation 180 00 162 00 342 00 $6,974 50
Received for use of Piano for
practice 128 00 120 00 248 00
Organ 414 50 334 00 748 50 996 50
,971 00
Expenditures
Salaries $7,135 37
Tuning, repairs, and current for motor 563 92
Equipment purchased during the year 14 25
,713 54
Summary
Total Receipts $7,971 00
Total Expenditures 7,713 54
Surplus* $257 46
*The music students carried a total of 112 hours in the College Department
for which no charge was made. This includes Public School Music. At our regular
catalogue rate, tuition should be credited with $672.00 and the Department of
Music should be charged with $672.00 for work in the College.
Schedule VIII
EXTENSION DEPARTMENT, 1928-1929
Received for first semester $3,344 00
Received for second semester 2,648 00
Total $5,992 00
Less expenses 168 91
$5,823 09
Retained by College 582 30
Balance for distribution to Faculty $5,240 79
14
Schedule IX
SUMMER SCHOOL REPORT— 1929
Total receipts $6,119 75
Less cash refunds 49 00
Net receipts. $6,070 75
Less expenditures 459 26
5,611 49
Less room rent retained by College 195 00
5,416 49
Less boarding paid to Pennway Hotel 596 60
4,819 89
Retained by College 481 98
Balance for distribution to Faculty $4,337 91
Schedule X
DONATIONS TO LEBANON VALLEY COLLEGE FOR
SPECIAL PURPOSES, 1928-1929
Registrar's Office — For Equipment $55 00
For Books for Library, from
Alumni Association $100 00
Department of Bible 9 67
Department of Biology 7 05
Department of Business Administration 35 68
&i Department of Chemistry 1 50
Department of Economics 22 38
Department of Education 51 64
Department of English 89 69
Department of French 7 58
Department of Latin 89 89
Department of Mathematics 64 90
Department of Philosophy 12 06
Department of Physics 23 94
A. K. Mills 75 00 590 98
$645 98
In addition to the above, books were contributed for the Library by the
following:
Number of Volumes Value
O. P. Butterwick 1 $1 50
R. R. Butterwick 184 300 00
Class of 1931 2 8 00
Clionian Literary Society 1 1 50
L H. Doutrich 24 24 00
Elmer A. Henry 2 5 00
Miscellaneous 17 17 00
V. Earl Light 4 6 00
Registrar's Office 4 16 00
E. H. Sneath 1 1 50
Eugene Stevenson 2 3 00
M. L. Stokes 2 2 00
P. A. W. Wallace 3 4 50
$390 00
IS
AUDITING COMMITTEE REPORT
To the Board of Trustees of Lebanon Valley College:
Gentlemen — Through the privilege accorded by the Finance Committee of
Lebanon Valley College, we, your Auditing Committee, secured the services of
Mr. H. E. Schriver, public accountant of Harrisburg, Pa., to audit the accounts
of S. H. Derickson, Treasurer. We submit the following statement as our report.
J. O. Jones
J. H. Ness
E. C. Wine
Committee
Harrisburg, Pa., November 26, 1929
To the Auditing Committee, Board of Trustees of Lebanon Valley College,
Annville, Pa.
Gentlemen — This is to certify that I have audited the accounts of the
Treasurer of Lebanon Valley College for the fiscal period ended August 31, 1929
and found them correct as per the Summary of Accounts, the balances of which
were in the banks as noted.
The Securities have also been verified and are deposited in the vaults of the
Annville National Bank, Annville, Pa., and the Farmers Trust Company, Leba-
non, Pa. I am of the opinion that your investment income has been materially
strengthened over what it was formerly without jeopardy to the security.
I found all records of your Accounting Department in good order, and appre-
ciate the cooperation of the persons in charge.
Up to this time I have understood that you only desired an audit of the Cash
and Securities and I have acted accordingly. I would suggest, however, that in
the future the audit be made a Balance Sheet audit so as to give you a picture of
the operation of the College. About all that you have at present is a Statement of
Cash Received and Disbursed which is only one of the factors entering into the
operation of the institution.
Lebanon Valley College Account
Cash on hand September 1, 1928 $2,452 64
Cash received during year 204,433 86
Total $206,886 50
Less: Disbursements 205,262 87
Balance on hand August 31, 1929 f 1,623 63
Lebanon Valley College Endowment Trust Fund
Cash on hand September 1, 1928 $564 24
Cash received 330,727 14
Total $331,291 38
Less: Cash Invested 330,542 08
Balance on hand August 31, 1929 749 30
Lebanon Valley College Endowment Trust Income
Cash on hand September 1, 1928 $2,229 83
Cash received 38,479 23
$40,709 06
Less: Cash Distributed 37,751 29
Balance on hand August 31, 1929 2,957 77
H. E. Schriver,
Fellow, Chartered Accountant
16
Lebanon Valley College
BULLETIN
JUNE, 1930
Supplementary Report
Giving Financial Statement of the
Business from September 1 , 1 929, to
June 3, 1930
Entered as second-class matter at Annville, Pa., under Act of August 24, 1912
STATEMENT OF ACCOUNTS, LEBANON VALLEY COLLEGE
JUNE 3, 1930
Debit
Permanent Fund Assets
Investments of Endowment Fund
(Schedule XIII, pages 23 to 26). $907,813 63
Henry B. Stehman Fund — Loaned
to Students 1,050 00
Cash awaiting investment 97 26 $908,960 89
Plant Assets
Buildings 474,030 00
Grounds 35,000 00
Books, equipment and furniture . . . 65,600 00 574,630 00
Current Assets
Cash $1,170 80
Notes carried as cash 40,357 70
Accounts Receivable
Student Accounts 1929-1930.... 1,017 38
Student Accounts 1929-1930
covered by Scholarship 665 74
Extension Department, 1930-
\Qg\ 22 25
Summer School, 1930. .......... 413 77 2,119 14
Materials and Supplies
Dining Hall (Estimated) 500 00
Laboratories (Estimated) 2,835 31 3,335 31
Insurance Premium
Unexpired 615 36 47,598 31
$1,531,189 20
18
STATEMENT OF ACCOUNTS, LEBANON VALLEY COLLEGE
JUNE 3, 1930
Credit
Permanent Funds
Endowment (Schedule XII, page
22) $907,060 89
Endowment subject to annuities. . . 1,900 00 $908,960 89
Plant Assets
From Gifts from Conferences,
Churches and individuals, and
accumulated surplus 574,630 00
Current Funds and Liabilities
Unexpended Laboratory Fees $183 26
Funds for Designated Purposes
Alumni Library Fund 10 53
Part of Matriculation Fee used
for Student Activities 749 95
Unexpended Athletic Funds 826 61 1,587 09
Undistributed Scholarships
Presser Foundation — Music 27 00
Student Accounts paid in Advance. 50 00
Breakage Deposit to be returned
(Estimated) 2,251 50
Unpaid Faculty Salaries 6,601 45
Accounts payable — For supplies . . . 2,042 97
Balance to be used for expenses for
June, July and August, repairs,
etc 34,855 04 47,598 31
$1,531,189 20
19
850
00
355
00
1,760
00
2,074 00
180
00
116
00
10 42
30,169
96
2,049
44
45
25
5
64
CASH RECEIPTS AND EXPENDITURES, LEBANON VALLEY
COLLEGE ACCOUNT FROM SEPTEMBER 1, 1929,
TO JUNE 3, 1930
Receipts
Student Accounts
Tuition $60,075 51
Music (Schedule XIV, page 27) 8,031 90
Graduation Fees 1,344 00
Extension Department (Schedule XI, page 22).. . 5,871 00 $75,322 41
Student Fees for Educational Purposes
Matriculation
For Recording Grades
For use of Library
51 1 Laboratory
i, Biology
El ■ Chemistry
Physics
Psychology
Laboratory supplies sold 10 42 5,345 42
Endowment Income
General — Unrestricted
General — Restricted
Latin Chair and other Professorships
Library Account
Interest on notes held as cash in Current Accounts 5 64 32,270 29
Gifts and Grants
General Purposes — Unrestricted
Conference Benevolence Budget 8,024 85
General Purposes — Restricted
For Books for Library
For Campus Planting
Miscellaneous Income
Dining Room
i From Students
' ' Supplies sold
Extra Meals served to visitors, etc
Dormitories
Rent from students
Breakage Deposits — Men's Dormitory
Breakage Deposit — Women's Dormitories. . . .
Paid for cleaning rooms
Specified for Non-Educational Purposes
Appointment Bureau
Matriculation
Athletics — General
Athletics — Field and Gymnasium
Athletics — Women's
College Paper
Student Activities
Music Scholarship — Presser Foundation
Sundry Accounts
Breakage Deposit from Day Stu-
dents
Rent from Chapel
Electrical supplies sold
$193,295 49
Cash on hand September 1, 1929 1,623 63
$194,919 12
734 77
400 00
9,159 62
192 31
42,269 50
209 36
440 90
42,919 76
16,899 00
1,200 00
490 00
668 00
19,257 00
64 00
3,550 00
1,065 00
887 50
532 50
1,775 00
250 00
8,124 00
574 50
50 00
80 18
704 68
20
CASH RECEIPTS AND EXPENDITURES, LEBANON VALLEY
COLLEGE ACCOUNT FROM SEPTEMBER 1, 1929,
TO JUNE 3, 1930
Expenditures
Administration and General Expense
Salaries of President and Office Employees $12,564 20
General — Printing 1,172 75
Student Campaign and Advertising 1,021 41
Interest 80 00
Miscellaneous expense 5,125 04 $19,963 40
Collecting and Soliciting Funds 324 50
Instructional
College Faculty 48,666 45
Practice Teaching 1,239 75
Extension 4,568 00
Saturday Classes 1,074 00
Librarians 2,254 26
Student Teachers 1,214 30 59,016 76
Supplies and Equipment
Biology Laboratory 780 64
Chemistry Laboratory 1,319 66
Physics Laboratory 86 40
Psychology Laboratory 47 61
English Department 401 59
Library 1,616 92 4,252 82
Auxiliary Departments
Conservatory of Music — Salaries 7,169 30
Expenses of tuning pianos, repairs, etc 465 15
Extension Department 1929-1930 275 78
Extension Department 1930-1931 22 25
Appointment Bureau 54 56
Summer School, 1930 413 77 8,400 81
Maintenance of Plant
Salaries of engineers, janitors, etc 4,740 50
Equipment 904 50
Heat, Light and Water 7,963 06
Repairs and Improvements 3,332 87
Infirmary 6 00
Planting Plans, etc., for campus 585 54
Taxes 4 20 17,536 67
Dining Room
Salaries 13,955 22
Supplies 21,603 33 35,558 55
Non-Educational Purposes
College Band 8 20
Debating Teams 38 37
Paid out of matriculation fee from students, for
Athletics, General 3,710 00
Athletics, Field and Gymnasium 641 22
Athletics for Women 433 55
College Paper 532 50
Student Activities 1,750 25 7,114 09
Sundry Accounts
Cash refunds 104 47
Rents for outside sources 320 00
Breakage fees returned 3 00
Rebate on room rent 795 55 1,223 02
$153,390 62
Cash on hand May 1, 1930 1,170 80
Notes carried as cash in current account 40,357 70
21
$194,919 12
Schedule XI
EXTENSION DEPARTMENT, 1929-1930
$3,191 00
2,680 00
5,871 00
25 00
6 28
275 78
$5,846 00
282 06
5,563 94
4,618 00
Received for first semester
Received for second semester
Total receipts
Less cash refunds
Net receipts
Expenditures prior to September 1, 1929.
Expenditures since September 1, 1929.. . .
Total expenditures
Paid to Faculty
Retained by College $945 94
Schedule XII
ENDOWMENT FUND, JUNE 3, 1930
Endowment prior to 1918:
Farms, appraised value $49,700 00
Securities 16,485 55 $66,185 55
Endowment of 1918:
Received in cash 261,519 65
Received in Liberty Bonds and other securities .... 28,273 02
Received for campaign expenses 23,000 00
312,792 67
Paid out for campaign expenses 22,990 98
Balance for investment 289,801 69
Endowment of 1924:
Received in cash 354,743 08
Received in securities 7,272 50
Received for campaign expenses from subscribers. . . 19,030 18
Received for campaign expenses from individuals. . . 1,000 00
Received from General Education Board 175,000 00
557,045 76
Paid out for camjjaign expenses 20,030 18
Balance for investment 537,015 58
Received from other sources than endowment subscribers 5,676 26
Received from Scholarship Funds from United Enlistment Move-
ment and Benevolence Budget 7,167 30
Received to be loaned to students 1,265 16
Profit and Loss account 1,849 35
$908,960 89
22
Schedule XIII
INVESTMENT OF ENDOWMENT FUNDS
The Endowment Funds of the College on June 3, 1930, were invested as indi •
cated by the following summary and list of investments.
Amount
Invested
Percent-
age
of Total
Farms
Foreign — Municipal
Foreign — Public Utilities .
Foreign — Industrial
Industrial Bonds
Municipal Bonds
Public Utility Bonds
Real Estate Bonds
Real Estate — Local
Railroad Bonds
Stocks
Allotment Certificate
Total
Loaned to students
Cash awaiting investment
$47,476 25
39,130 44
23,008 21
9,900 00
55,071 25
9,691 23
289,455 54
137,037 15
29,500 00
236,015 81
12,593 25
18,934 50
5.23
4.31
2.53
1.09
6.06
1.07
31.88
15.10
3.25
26.00
1.39
2.09
$907,813 63
1,050 00
97 26
100.00
$908,960 89
INVESTMENTS OF ENDOWMENT FUND
JUNE 3, 1930
Farms
Amount Name
Farm at East Berlin
Farm at Shiremanstown
(Appraised value, $47,476.25)
Rate Maturity-
Foreign Bonds — Municipal
$10,000 Government of the Argentine Nation 6
10,000 Commonwealth of Australia 5
5,000 City of Berlin, Germany 6|
5,000 Republic of Cuba 5^
5,000 Kingdom of Norway 5
5,000 City of Sydney, Australia 5|
40,000 (Total cost of above group, $39,130.44)
Foreigfn Bonds — Puiblic Utilities
9,000 Berlin City Electric Company 6
5,000 Copenhagen Telephone Company 5
10,000 European Electric Company, Limited Cvt. w. w . . . . 65
1961
1957
1950
1932
1963
1955
1955
1954
1965
24,000
(Total cost of above group, $23,008.21)
Forei^ Bonds — Industrial
10,000 The Lautaro Nitrate Company, Ltd 6
10,000
(Total cost of above group, $9,900.00)
23
1954
Investments of Endowment Fund, June 3, 1930 (Continued)
Industrial Bonds
Amount Name Rate Maturity
$10,000 Canadian International Paper Company 6 1949
10,000 Goodyear Tire and Rubber Company 5 1957
1,000 Jones & Laughlin Steel Company 5 1939
5,000 Koppers Gas and Coke Company 5| 1950
5,000 Old Ben Coal Corporation 6 194-1
5,000 Sandura Company Incorporated 6 1940
5,000 Texas Corporation w w 5 1944
15,000 Wilson & Company, Incorporated 6 1941
56,000 (Total cost of above group, $55,071.25)
Municipal Bonds
10,000 City and County of Dallas Levee Improvement Dis-
trict 5* 1945
10,000 (Total cost of above group, $9,691.23)
Public Utility Bonds
5,000 Alabama Power Company 5 1968
10,000 American Commonwealth Power Corporation Cvt.. . . 6 1940
10,000 American & Foreign Power Company Inc 5 2030
5,000 American Gas and Electric Company 5 2028
11,000 American Telegraph and Telephone Company 5 1965
6,000 Appalachian Electric Power Company 5 1956
5,000 Associated Gas and Electric Company, Cvt 6 1948
10,000 Associated Gas and Electric Company, Cvt 51 1938
5,000 Birmingham Gas Company 5 1959
5,000 Central Power and Light Company 5 1956
10,000 Cities Service Company w. w 5 1969
5,000 Cities Service Company x. w 5 1963
10,000 Cities Service Power & Light Company 5| 1949
10,000 Commonwealth Subsidiary Company 5| 1948
5,000 Detroit City Gas Company 5 1950
10,000 Eastern Utilities Investing Corporation w. w 5 1954
10,000 Florida Power Corporation 5^ 1979
5,000 Florida Power & Light Company 5 1954
5,000 Gatineau Power Company 5 1956
5,000 General Water Works and Electric Corporation w. w 6 1944
5,000 Georgia Power Company 5 1967
5,000 Illinois Power and Light Corporation 5 1956
5,000 Illinois Power and Light Corporation 6 1953
5,000 Indianapolis Power and Light 5 1957
5,000 Indianapolis Water Company 5§ 1954
10,000 InsuU Utilities Investment Inc. w. w 6 1940
10,000 InsuU Utilities Investment Company x. w 5 1949
10,000 International Hydro Electric System 6 1944
10,000 International Telephone and Telegraph Corporation. . 5 1955
6,000 Interstate Power Company 5 1957
5,000 Kentucky Utilities Company 5 1961
10,500 Keystone Water Works Corporation 5| 1952
10,000 New York Power and Light Corporation 4| 1967
5,000 Norfolk and Portsmouth Traction Company 5 1936
10,000 Pacific Northwest Public Service Company Cvt. w. w 6 1950
5,000 Penn Central Light and Power Company 4^ 1977
5,000 Penn Ohio Edison Company 5| 1959
5,000 Potomac Edison Company 5 1956
24
Investments of Endowment Fund, June 3, 1930 (Continued)
Amount Name Rate Maturity
110,000 Southern Cities Public Service Cvt 6 1949
5,000 St. Joseph Railway Light, Heat & Power Company. . 5 1937
5,000 Standard Power and Light 6 1957
288,500 (Total cost of above group, $289,455.54) '
Real Estate Bonds
3,000 Agar Packing and Provision Company 6| 1931-35
5,000 Atlanta Medical Arts Building 6i 1938
500 Belmont Apartments 6 J 1943
2,000 Broadway-Barclay Office Building 6 1941
5,000 Broadway & 41st Street Building 6| 1944
5,000 Carmen Theatre, Philadelphia 6 1940
1,000 The Dorset 6 1941
6,000 Eleven West 42nd Street Building 6| 1945
5,000 Five Hundred Fifth Avenue Inc 6 J 1949
14,000 Fuller Building 5| 1949
5,000 Gatesworth Apartment Hotel 6| 1938
10,000 Huntingdon Office Building 7 1940
5,000 Loutellus Apartments, Pittsburgh 6| 1936
5,000 North Avenue Market, Baltimore 6 1940
15,000 The Ohio State Theatres Company 7 1935
4,000 Syracuse Hotel 6| 1936-38
5,000 Tattershall Hotel 7 1936-37
36,800 United Brethren Publishing House 6 1934-53
4,000 University Apartments, Pittsburgh 7 1933
500 Wilmington Auto Company 7 1930
136,800 (Total cost of above group, $137,037.15)
Real Estate Bonds — Local
5,000 Amos K. Curry 6
6,000 Jacob M. Gingrich 6
5,000 John H. Kettering 6
8,500 Lemoyne Trust Company Guaranteed Certificate ... . 5
5,000 Derry Street United Brethren Church, Harrisburg. . . 6
d
29,500 (Total cost of above group, $29,500.00)
Railroad Bonds
10,000 Allegheny Corporation Cvt 5 1944
5,000 Allegheny Corporation Cvt 5 1949
10,000 Atchison, Topeka and Santa Fe Railway 4 1995
5,000 Canadian Pacific Equipment 5 1944
5,000 Chesapeake and Ohio Railway Company 4| 1992
5,000 Chesapeake and Ohio Railway Company 4| 1995
10,000 Chicago, Milwaukee, St. Paul and Pacific Railroad
Company 5 1975
10,000 Chicago Great Western Railroad Company 4 1959
5,000 Chicago and Northwestern Railway Company Cvt. . . 4| 1949
5,000 Chicago, Rock Island and Pacific 4 1934
10,000 Chicago South Shore and South Bend R. R. Equip-
ment 5| 1935
10,000 Denver and Rio Grande Railroad Company 4 1936
10,000 Erie Railroad Company Refunding and Improvement 5 1975
5,000 Gulf, Mobile and Northern Railroad Company 5 J 1950
10,000 Kansas City Terminal Railway 4 1960
3,000 Midland Railroad of New Jersey 5 1940
10,000 Missouri Pacific Railroad 5 1977
25
Investments of Endowment Fund, June 3, 1930 (Continued)
Amount Name Rate Maturity
S 10,000 New Orleans Terminal Company 4 1953
5,000 New York Central and Hudson River Railroad Co. . . 4^ 2013
15,000 Northern Pacific Railway Company 3 2047
5,000 Pennsylvania Company 4f 1963
10,000 Pennsylvania Dock and Warehouse Company w. w . . 6 1949
15,000 Pennsylvania Railroad, General 4| 1965
10,000 Pennsylvania Railroad Debentures 4^ 1970
5,000 Seaboard Air Line Railway Company 4 1950
5,000 Southern Pacific w. w 4^ 1969
10,000 St. Louis — San Francisco Railway Company 4^ 1978
10,000 St. Paul and Kansas City Short Line Railroad 4i 1941
5,000 Van Sweringen Corporation 6 1935
10,000 Western Maryland 4 1952
10,000 Western Pacific Railroad Company 5 1946
253,000 (Total cost of above group, $236,015.81)
Stocks
120 shares A. S. Kreider Shoe Company, Preferred stock 5|
5 shares Potomac Edison Company, Preferred stock 7
5 share? Durant Motors, Inc
100 shares Lautaro Nitrate Company (Bonus)
(Total cost of above group, $12,593.25)
Allotment Certificate
50 shares Associated Gas and Electric Company
100 shares Corporation Securities Company of Chicago .
160 shares Kreuger & Toll Company
(Total cost of above group, $18,934.50)
26
Schedule XIV
MUSIC DEPARTMENT— 1929-1930
To June 3, 1930
Receipts
Xirw Tncft-ii/-ti'r>n First Sccond Both
ror instruction Semester Semester Semesters Year
Piano $1,075 00 $965 50 $2,040 50
Organ 575 00 525 00 1,100 00
Voice 975 00 1,050 00 2,025 00
Violin 225 00 266 40 491 40
Harmony 216 00 180 00 396 00
Musical Form and Analysis. . . 72 00 72 00
Dictation 234 00 180 00 414 00
Sight Singing 162 00 162 00 324 00
Keyboard Harmony 36 00 36 00
History of Music 126 00 108 00 234 00
Composition and Orchestra-
tion 72 00 72 00 $7,204 90
Received for use of Piano for
practice 132 00 144 00 276 00
For Organ 332 50 292 50 625 00 90100
,105 90
Expenditures
Salaries $7,967 25
Tuning, repairs and use of motor for organ to June 3, 1930 465 15
;,432 40
Schedule XV
RECEIPTS AND DISTRIBUTION OF ENDOWMENT. INCOME
FROM SEPTEMBER 1, 1929, TO JUNE 3, 1930
Receipts
Cash on hand September 1, 1929 $2,957 77
Total receipts $41,052 10
Accrued interest returned to principal 4,247 47 36,804 63
),762 40
Distribution
Lebanon Valley College for credit to Ministerial Stu-
dents _. . $1,980 00
Lebanon Valley College for credit to others than Min-
isterial Students 2,270 72
Lebanon Valley College General Expense Account.. . . 30,169 96
Lebanon Valley College Library Account 45 25
Lebanon Valley College Account of Latin Chair and
other Professorships 2,049 44
Loaned to students from Scholarship Funds 150 00
Paid in cash to students 23 70
Transferred to Permanent Funds from Scholarship In-
come 1,544 00
Insurance on Real Estate Bonds 120 00 $38,353 07
Cash on hand June 3, 1930 1,409 33
$39,762 40
27
Schedule XVI
BUILDINGS, GROUNDS AND EQUIPMENT
SEPTEMBER 1, 1929
Erected
Present Value
Total
Buildings
Administration
Engle Hall.
Carnegie Library
Men's Dormitory
North Hall for Women . . .
South Hall for Women . . .
West Hall for Women. . . .
Heating Plant
Underground Steam Pipes
President's Home
George Property
Grounds
Campus
Athletic Field
Equipment
Books in Library
Biology Laboratory
Chemistry Laboratory ...
Physics Laboratory
Museum Furniture
Gymnasium
Class Room Furniture. . . .
Ofifice Equipment
Pianos
Organs
General Furniture
Auditorium
Dining Hall and Kitchen .
1905
1899
1904
1905
1904
1857
1900
$155,000 00
60,000 00
38,000 00
80,000 00
72,000 00
22,500 00
12,000 00
12,000 00
10,000 00
9,000 00
3,530 00
30,000 00
5,000 00
9,500 00
6,000 00
6,000 00
4,000 00
4,000 00
2,500 00
4,500 00
4,100 00
3,000 00
9,500 00
8,000 00
2,700 00
1,800 00
28
Live Music Archive
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