nineteen hundred and forty-six - Amazon Web Services

436 SOUTHERN BAPTIST CONVENTION
CHAPTER IH. AN HISTORICAL REVIEW (Continued) 1925-1944
INCLUSIVE
CONTENTS
Dr. Thomas J. Watts Chosen Associate Secretary (1925).
Dr. William Lunsford's Illness and Death (1927).
Dr. Thomas J. Watts Elected Executive Head (1927).
Further Expansion and Closing of the (Old) Annuity Fund. Mr. Rockefeller
Donates $500,000 (1929-1930). Additional financing for Old Annuity
provided 1938.
The Inauguration of Ten New Annuity Plans (1929-1944).
Renewed Emphasis on Our Relief Ministry.
The Board's Steady Financial Growth.
Trusteeing Gift Annuity Agreements for Convention Agencies.
The Baptist Building Dedicated (1941).
Dr. Walter R. Alexander Chosen Associate Executive Secretary (1942).
Silver Anniversary Celebrated (1943).
Dr. R. S. Jones Chosen Associate Secretary (1943).
Complete Provision for Financing Old Annuity Plan Made by Southern Baptist
Convention 1944.
CHAPTER m. AN HISTORICAL REVIEW (Continued) 1925-1944
INCLUSIVE
GREAT EXPANSION
For several years the Board had been on the lookout for a suitable associ
to Dr. Lunsford; one who would be able to carry a part of the burden of
administration and promotion of the work in the office and on the field. On
September 18, 1925, this responsible position was offered to Dr. Thomas J. Watts.
formerly a pastor in Georgia and Kentucky, and for many years a denominational
executive in South Carolina and Missouri. The tender of the position
was, with much trepidation, accepted, and the associate secretary began his
labors on November 1, 1925.
The Board's able founder and first executive head, Dr. William Lunsford,
after a year of serious illness, passed to his Heavenly reward on May 24, 1927.
Dr. Lunsford was succeeded, even as he had desired, on June 5, 1927, bv
Associate Secretary Dr. Thomas J. Watts, who has carried on to the present
time. Thus has been demonstrated the truth of the oft quoted saying, "God
buries the workman, but the work goes on."
Reverting to the first Annuity Plan, now called the (Old) Annuity Fund,
there was a further expansion during this period, (1) in its membership; (2) in
the number of its beneficiaries, and, (3) in the reserves available for' paying
benefits. This plan was closed to new members with the previous aoproval of
the Southern Baptist Convention, on September 30, 1930. However the number
of certificates issued since the close of the period of beginnings as of Mav 1925,
was 490, thus bringing the total number of certificates issued to 1,935! ' Like^
wise, there was a considerable increase in the number of beneficiaries during
the period now under review, the number being 625. Furthermore, the financing
of the plan required and received the most careful attention at the hands of the
Board During the period Le. on December 29, 1929, the munificent gift of
Mr. John D. Rockefeller. Sr., of Five Hundred Thousand Dollars ($500 000)
was added to the reserves of the (Old) Annuity Fund. At the same time in
order to strengthen the relief department, the Board secured convention approval
on its decision to place all Cooperative Program receipts not otherwise designated
in the relief fund. Thus the erstwhile division of Cooperative Program
funds between the relief fund and the annuity fund ceased. It was well understood
by the Board, however, and positive statements were made in its report to
the convention meeting in New Orleans in May, 1930, that further financing of
the (Old) Annuity Fund would probably be necessarv, and this it was hoped
could be successfully accomplished through the solicitation of bequests in wills
by cash gifts secured, and by other gifts upon which life annuities would be
contractually paid.