FORTIETH ANNUAL SESSION OF THE STOCKHOLDERS OF THE SEVENTH-DAY ADVENTIST PUBLISHING ASSOCIATION.
In pursuance of the printed notice that appeared in the REVIEW AND HERALD, the fortieth annual session of the stockholders of the Seventh-day Adventist Publishing Association (ninth annual session under the new charter) convened in the Tabernacle, Battle Creek, Calhoun Co., Mich., Monday, March 26, 1900, at 10 A. M., local time. The President of the Board of Directors, W. C. Sisley, occupied the chair. Hymn No. 162, “Let thy Spirit, blessed Saviour,” was sung to open the meeting, after which Elder J. H. Morrison led in prayer. The Secretary then called the roll of the shareholders and proxy holders, announcing the number of shares and proxies held by each person as he responded to his name. It was found that 3,225 shares of stock were represented, 763 in person and 2,462 by proxy. The Chairman stated that, as the minutes of the last meeting of the thirty-ninth annual session had been read and approved, it was not necessary to have them read on the present occasion, unless the shareholders wished it. No one made a request to have the minutes read. The President said that on previous occasions, the Nominating Committee had experienced difficulty, and had been more or less handicapped, on account of the fact that so few young men belonging to the denomination own stock in the Association. He stated that there are several old persons who own stock, and who are now in reduced circumstances, and consequently are anxious to dispose of their shares for a small sum. He thought that quite a number of these shares could be had for two dollars each. He therefore suggested that those who are not shareholders have now an excellent opportunity of becoming such. In response to this request, several of the brethren signified their wish to purchase the shares referred to by the Chairman. The President then read his annual address to the stockholders, as follows:— Through the providence of God we are again permitted to meet, according to appointment, in this our thirty-ninth annual meeting, the ninth under the new charter, for the purpose of electing a board of trustees, and for the transaction of such business as may come before us. As this is the fiftieth anniversary of the REVIEW AND HERALD, it may not be altogether out of place, before taking up the regular business of the day, to spend a few minutes in reviewing the past. In the summer of 1849 the first number of Present Truth was issued in Middletown, Conn., under the most unfavorable circumstances. The publishers were destitute of money, and their few friends were of the poorer sort. In the autumn of 1850 the name of the paper, Present Truth, was changed to the ADVENT REVIEW AND SABBATH HERALD, started as an eight-page semimonthly, and printed at Paris, Me. May 6, 1852, No. 1 of Vol. 3 of the REVIEW AND HERALD was published at Rochester, N. Y., and printed on a hand press. The money necessary for the purchase of the entire outfit, $652.93, was contributed by the brethren. During the spring of 1855 steps were taken to purchase ground and to build a publishing house in Battle Creek. Four of the brethren gave three hundred dollars each to start the enterprise. December 4, of the same year, No. 10 of Vol. 7 of the REVIEW was issued from the new building. This was the first property owned by Seventh-day Adventists for publishing purposes. In 1857 the first steam engine and power printing press were installed. The purchase money, about twenty-five hundred dollars, was contributed by the brethren for that purpose. In the year 1858 a statement was made in the REVIEW to the effect that the Office, as it was then called, was a safe and convenient place for our brethren to deposit any surplus money they might have. From that day to this hundreds can testify to the truthfulness of that statement. How thankful we all should be that not a person has ever lost a dollar of money intrusted to the keeping of this Association. In 1861 the Seventh-day Adventist Publishing Association was organized, and the first brick building was erected. The book sales by this time were growing very rapidly. In the year 1859 they amounted to $702.17. In 1871 another brick building was erected, an exact duplicate of the first. In 1873 a third building like the first was put up, and the first cylinder press was added to the plant at a cost of thirty-four hundred dollars. At this time the book sales amounted to a little over one thousand dollars a month. In 1880 the two east buildings were joined by a substantial building, as it now stands. The book sales for that year were $27,914.53. From this time on, the business of the Association made rapid growth. New machines and additional room and facilities were added from time to time, until we now own the largest and best-equipped printing establishment in the State of Michigan, with very few better ones in the country. The book sales continued to grow until 1890, during which year they reached the enormous sum of five hundred thousand dollars. From that time until last year, we regret to say, there has been a gradual falling off in our sales. All should now be grateful that the tide is turning, as our book sales for last year were larger than for the year previous. In the short time we have taken for this review, we have only caught sight of the bare outline of our history. Meager as our view of the past has been, none of us can fail to see that more than human agencies have been at work. All must acknowledge that God has wrought wonderfully for us in all these years. Hours might be profitably spent in recounting his gracious dealings with us all along the way. This should give us courage for the future. There are a few points in connection with the establishment and early history of our Association that deserve our most careful consideration:— First, that the object of establishing the publishing work was a purely missionary one—that of giving the truths of the Third Angel’s Message to the world. Should we have any other object in running the business to-day? Second, that the work was established and kept running for years by great personal sacrifice on the part of those directly connected with the Office and its supporters throughout the field. Should not this same spirit of sacrifice be manifested by all concerned to-day? Third, from the first, the publishing work was so closely connected with the other lines of denominational work that their interests were, in every sense, one. Soon it became the very heart of the message and the financial backbone of all our work. Whenever a new enterprise was to be started, the Review and Herald cared for it financially until it could go alone. In this way, through the help of God, it has rendered material assistance in the establishment of every one of our important lines of work. As so much depended upon the Office, in earlier days, it was found absolutely necessary carefully to guard its reputation, and especially its financial credit. Is there any less need of our being careful in this matter to-day? Can any person needlessly cast a shadow upon the credit of this institution and be clear in the sight of God? Fourth, the early managers of our work realized that the prosperity of the publishing work depended, almost wholly, under God, on the hearty co-operation of both ministry and laity throughout our ranks. How is it to-day? Can the Association accomplish the purpose for which it was established without this same hearty co-operation? Fifth, all along through the earlier years a book fund was kept well filled by voluntary contributions, that the poor might be supplied with books and papers, which they otherwise would have had to go without. Is not such a fund as necessary now as then? Years ago great interest was manifested in the circulation of literature in foreign languages. Books, papers, pamphlets, and tracts were brought out in the German, Swedish, Danish, French, and Dutch languages, many of which were sold in large quantities. Can we now be justified in slackening our efforts in this direction, or should we renew our diligence in this particular phase of missionary work? We have called your attention to the work of past years, not merely to interest you, but that we might all be profited, encouraged, and stimulated for the future. If we all pull together, there is a glorious future before us. We must necessarily act a prominent part in the grand closing work of the Third Angel’s Message. Let us prepare for it, and act accordingly. You will all be pleased to know that, through the manifold goodness of God, the work of the Association for the last year has been very encouraging. Our manufacturing department has had an abundance of business. Our book sales were about seventeen thousand dollars larger than were those of the year previous. The REVIEW list now stands at 15,458, which is more than two thousand higher than one year ago. There has been a gain of $4,634.41 in publishing this paper during the year. The policy and general make-up of the Instructor has been changed in accordance with the suggestions last year. The circulation is gaining, and the loss in publishing is $1,684.89, while the year previous it was $4,854.47. In accordance with your recommendation of last year, by joint action of the General Conference and the Review and Herald Board, the Christian Educator was discontinued. The foreign papers are holding their own quite well. However, more interest must be taken in their circulation before they will become self-supporting. The aggregate loss on the three papers for last year was $2,363.50. Our treasurer’s report shows a net gain, last year, of $16,126.56, besides donations to the amount of $4,076.50, making, in all, $20,203.06, which is the largest gain shown for years. The annual report of our Atlanta Branch shows that it is doing well. According to the balance sheet, there has been a net gain of $928.67 during the year. Besides carrying forward its regular book business, this branch has done a large amount of gratuitous missionary work, under the direction of the Missionary Committee of District 2. This work was formerly cared for by the Southern Branch of the International Missionary Society. The business done by the Toronto Branch has not been sufficient to make it prosperous from a financial point of view; still, we can not say that the year’s work has been unsuccessful; for, while there has been a net loss of $84.26 in the business during the last six months, we trust much good will be accomplished through the literature this branch has circulated. The territory of the Toronto Branch is large and good, but the constituency is small, and the laborers few. Neither of our branches can accomplish what they should unless their territories are better supplied with laborers. Each should have, in addition to those already in the field, a large corps of devoted, energetic canvassers. Can we not take steps to secure them? We can not well close without stating, with all modesty, that during the last year the managers have enjoyed much of the presence and help of the Lord in all their labor, and that there is, at the present time, a good spiritual influence pervading the entire institution, and a kind and fraternal feeling existing between the managers and all hands. In closing, we most respectfully call your attention to the importance of every stockholder’s renewing his interest in, and efforts for, the prosperity of the Association. Now is the time to begin by laying wise, broad, and far-reaching plans, electing an efficient board, and instructing them well. Then give them your most hearty support and co-operation throughout the year.