Proceedings of the Grand Lodge of Illinois - University Library

6o JOURNAL OF PROCEEDINGS Tuesday.
I
Nov. 18, 1913.
Interest collected on each fund and disposition of each. 4. Total
amount invested in securities in each fund. 5. Cash balance on hand
in each fund. G. Total amount in Endowment Funds of the two
Homes, including securities and cash on hand.
In accordance with these instructions we respectfully submit the
following report:
From moneys received from the paying off of securities on hand,
cash contributed at the session of 1912 and cash on hand as shown
by the Grand Treasurer's report of 1912 (detailed reports of said
amounts to appear in the annual reports of the Grand Treasurer and
of the Grand Secretary), we have made the following investments:
Orphan's' Home Fund—$7,000.00 first mortgage note secured by
314 acres rich tillable farm land in Vermilion county, due Jaunary
1st, 1918, netting 5 per cent; valuation on farm, exclusive of building?,
$39,250.00. Maker of note, Hugh C. Clements. We owe a balance of
$750.00 on this note.
Old Folks' Home Fund—$2,000.00 first mortgage note secured by 80
acres of good tillable farm land in Lee county, due January 1st, 1918,
netting five and one-fourth per cent; valuation on farm, exclusive of
buildings, $7,600.00. Maker, Albert H. Hill. $500.00 Henderson County.
Illinois, Drainage District No. 2 Bond, netting five and one-fourth per
cent, dated June 15th, 1913. and due June 15th. 1925.
In our opinion these investments are absolutely safe and all of
them net five per cent and five and one-fourth per cent. It is our
desire that hereafter all securities shall net at least five per cent.
While Illinois farm loans are preferable, the option to pay off these
loans before they become due is somewhat objectionable. We are
favorably impressed with Illinois Drainage Bonds for the reason that
they have a long time to run and the net amount of interest is always
attractive.
The individual accounts of contributions to the Endowment Funds
are kept by the Grand Secretary. The Trustees unanimously decided
in our report this year we should give a detailed report of amounts
of $100.00 or more instead of $500.00 or more. This will enable a large
number of individuals and organizations to know the status of their
accounts. The Grand Secretary has been very careful in keeping these
accounts but the manner in which contributions are often made causes
some confusion and makes the task somewhat difficult. This year we
shall give the total amount contributed in amounts of less than $100.00.
1. Total amount contributed to the Endowment funds of
the two Homes by individuals and organizations, in
amounts less than $100.00 $ 30,133.54
2. Detailed report of organizations and individuals having contributed
amounts of $100.00 or more to the Endowment Funds: