nineteen hundred and forty-six - Amazon Web Services

PROCEEDINGS 105
to direct all our recreational activities. The students live under such strain that
nothing would protect and promote their health more than a man who would
give all of his time in promoting all types of physical exercises.
The three seminaries are recommending to the Executive Committee of the
Southern Baptist Convention at their pre-convention meetings, that each of the
seminaries be given an increase of one per cent in its allocation of cooperative
receipts and that the seminaries, on a fixed day in September, be allowed to
appeal to the churches for an offering to supplement their income from cooperative
receipts.
SCHOOL OF CHURCH MUSIC
The development of the School of Church Music has been so phenomenal
that one cannot escape the conclusion that it has been brought into existence
by the will of God. A reasonable estimate of the physical assets of the School
of Church Music is $500,000. In addition to the spacious buildings and lovely
grounds, we have five pipe organs, over a dozen pianos, and furnishings and
equipment which are quite adequate to meet our present needs. As stated
elsewhere in this report, we have $35,000 for the erection of twenty-four additional
bedrooms to Barnard Hall. Thus far, the School of Church Music has
added appreciably to the physical assets of the Seminary. In the providence
of God, it will become one of the greatest assets to Southern Baptists and the
cause -of Christ.
TREASURER'S REPORT
THE SOUTHERN BAPTIST THEOLOGICAL SEMINARY
BALANCE SHEET, DECEMBER 31, 1945
ASSETS
Current Funds:
Cash on Deposit:
Plant Funds $ 4,316.20
Student Aid Funds 312.77
United Unexpended States Government Trust Funds Securities——at Cost: 3.018.01
Treasury General Purposes Bonds (Face Value, $5 050.00)
Treasury Notes (Face Value, $50,000.00;
Includes Interest Accrued at Date
$ 146,898.91—$ 5,050.00 154,545.89
of Purchase, $12.25) 50,012.25^- 55,062.25
Miscellaneous Accounts Receivable 1,258.50
Total Current Funds $ 210,866.64
Endowment Funds:
Administered by Financial Board:
Cash on deposit '. $ 23,164.83
Investments—ledger value . $2,242,173.39
Less amortization reserve 30,017.00— 2,212,156.39—$2,235,321.22
Administered by Seminary:
Miscellaneous stocks—ledger value $ 3,002.00
United States war savings bonds (maturity
value, $700.00)—at cost 518.00
Ground rent, Baltimore, Maryland 3,724.96
Miscellaneous real estate 16,244.00
Due from Student Loan Funds 67.80— 23,556.76
Total Endowment Funds 2,258,877.98
Student Aid Funds:
Cash on deposit—Student Aid account $ 60,340.18
United States Treasury notes—at cost (face value, $50,000.00
includes interest accrued at date of purchase, $12.25) 50,012.25
Due from Current Funds 312.77
Total Student Aid Funds 110,665.20
Student Loan Funds:
Cash on deposit—Student Loan account $ 54,272.92
United States Government securities—at cost:
War Savings bonds (maturity value,
$650.00) $ 481.00
Treasury notes (face value, $50,000.00;
includes interest accrued at date of
purchase, $12.25) 50,012.25— 50,493.25