Financial Report on Denominational Debts and Institutions
By S. H. Lane
WE are glad to state to our friends throughout the great harvest field that the financial aspect of the denomination is not discouraging. Our institutions as a rule are gradually working out of debt; especially is this true with our publishing associations, schools, and our leading sanitariums. The sale of “Christ’s Object Lessons” is helping the schools, and nearly all of them are on a self-supporting basis; so our debts are not increasing. The General Conference Association, which carries the debt of the denomination, outside of our incorporate institutions, such as the publishing houses and sanitariums, and which is really the legal arm of the General Conference, is involved in debt; but its debt is not increasing, and it is not borrowing money to run into debt, but is standing in need of money at the present time to pay off some obligations which have been of long standing. Some of our brethren in the past have loaned money, some without interest, and others at a very low rate of interest, while those who have loaned and taken interest have as a rule accepted four per cent. Indeed, the association at the present time does not care to pay more than four per cent. It is now needing a few thousand dollars, and is willing to pay four per cent if our friends are not so circumstanced as to let the money at a less rate. If any of our friends throughout the country have means that they can let us have without interest, or at a low rate of interest,—from two per cent to four per cent,—the association will be glad to receive it, and give its note for one, two, or three years. No one has ever lost by or through the association, and we feel assured that none ever will, for it is backed up not only by its own properties, but by the entire denomination. If any reader of these lines can loan the association some money without interest, or at a low rate of interest, we shall be glad to hear from him. Address the writer, Battle Creek, Mich. We trust that the Lord may put it into the hearts of those who have money to loan to let the association have it, for it will be a great help at the present time. S. H. LANE.