PACIFIC PRESS PUBLISHING COMPANY.
By Editor
THIS association held its thirteenth annual session in Oakland, April 27. There was quite a goodly company of the stockholders present, and the meeting on the whole was a very interesting and encouraging one. We will not attempt to give a report of the meeting in our limited space. A few items will suffice to show something of the work done the last year. The earnings of the printing and bindery department of the main office in Oakland was $96,857; of the book and stationery department, $63,913. The profits on the former amounted to $12,362, and on the latter to $7,920. The sales in the New York branch office amounted to $67,743, and profits to $3,552. The sales of the London branch aggregated $20,483, and the profits, $560.95. This appears on the balance sheet as a loss of $222. The mistake which was made in the inventory was not discovered till too late for the balance sheet. The showing for the branch offices, on both of which a loss might be reasonably expected, is indeed remarkable, considering the short time they have been in existence and their many competitors. The outlook for the future of the institution is most encouraging. Resolutions were passed relating to our periodicals, touching the work they had done in the past, and expressing a desire to our friends to help forward them in the future. The Little Friend shows a small profit for its first year. The Bible Students' and Sentinel Libraries ought to have a far greater circulation. The Young People's Library has met with a flattering reception. Some of the testimonials from leading papers may be found on another page. Among other resolutions passed were the following, which will be of special interest to our friends. Resolved, That we recognize the goodness of God in the prosperity that has attended our work in the last year, and especially in connection with our branch offices in London and New York, and that we express our gratitude and appreciation for the confidence and liberal support of our people. WHEREAS, The heavy drafts made on the Pacific Press Publishing Company from time to time, and especially during the last year, the fact that this office is considered the financial center of our work on this coast, and that there are quite large sums tied up in editions of our subscription books, seem to demand that the association shall have a larger amount of means at its disposal; therefore, Resolved, That a fund of not less than $60,000 be raised as soon as possible, for a working capital, in one of the following ways, preferable according to their order:—- In stock in the association.
- In deposits without interest.
- In sums at a low rate of interest.
Resolved, That we request Elder S. N. Haskell to act as special financial agent during some months of the present year, and that we also request our ministering brethren and friends of the Pacific Press on this coast to render us what assistance they consistently can in this respect. WHEREAS, The success of the subscription book business in Great Britain and in the British Colonies, which are in easy communication with the mother country, call for additional outlay in publications in our London branch office, in order that the work may not be hindered by delay in supplying our faithful canvassers, and that our credit in that new field may not be impaired; therefore, Resolved, That we recommend that a fund of at least $10,000 be placed at the disposal of the London branch, as soon as possible, for a working capital. WHEREAS, The managers of the Review and Herald have expressed a willingness to allow the Pacific Press to control the territory contained in General Conference district No. 5 whenever it became necessary to establish depositories in districts Nos. 4 and 5; and, WHEREAS, The canvassers in district No. 5 are calling for a depository in that district; therefore, Resolved, That we signify to the Review and Herald board the willingness of the Pacific Press to take charge of district No. 5 and establish a depository therein from which to supply the canvassers with subscription books as soon as the Review and Herald is ready to consummate the arrangement already agreed upon. The board of directors for the coming year is as follows: C. H. Jones, Wm. Saunders, Dan. T. Jones, S. C. Stickney, E. A. Chapman, Geo. Martin, and Wm. Butcher. The following evening the board was organized by electing C. H. Jones president, Wm. Saunders vice-president, S. C. Stickney secretary, E. A. Chapman treasurer, and L. A. Phippeny auditor. This institution is worthy of the hearty support and confidence of our people. The amount of good done in the dissemination of light and truth from its presses cannot be estimated in human notation; the figures of eternity alone will reveal it. Our people on the coast should be free to place their money therein. Some have drawn from it, and lost all. Many have deposited their means here, but not one ever lost a penny. Such was the general talk at the meeting, and such are the facts, and quite a number of additional shares were taken by the stockholders. Others subscribed for the first time. The meeting was encouraging and unanimity and harmony prevailed. At a meeting of the board of trustees, April 27, 1891, the following were chosen to act for the coming year:— Manager of the New York branch office, T. A. Kilgore; manager of the London branch office, J. I. Gibson. Editor of the SIGNS OF THE TIMES, M. C. Wilcox; special contributors, E. J. Waggoner, S. N. Haskell, W. N. Glenn. Editor of the American Sentinel, A. T. Jones; associate editors, C. P. Bollman, W. H. McKee. Editorial committees: Of the Little Friend, W. N. Glenn, F. M. Wilcox, Vesta J. Olsen; of the Bible Students' Library, M. C. Wilcox, E. J. Waggoner, W. N. Glenn, J. H. Durland; of the Sentinel Library, W. N. Glenn, M. C. Wilcox, A. T. Jones; of the Young People's Library, M. C. Wilcox, W. N. Glenn, J. H. Durland, C. C. Lewis, R. S. Owen.