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

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 Educati on 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