ANNUAL MEETING

The Seventh-day Adventist Publishing Association · Battle Creek, Mich. · Oct 8, 1861

Of the Seventh-day Adventist Publishing Association.

ACCORDING to previous notice, the first annual meeting of the Seventh-day Adventist Publishing Association was held in the city of Battle Creek, Michigan, sixth-day, Oct. 4, 1861, at 9 o'clock, A. M. Present, all the officers of the Association. Meeting opened by prayer by Bro. Joseph Bates. The Roll was then called by the Secretary. Members present, 57, representing 107 votes.

The next business in order being the Auditor's Report, Bro. J. N. Loughborough, Auditor, presented the following, being the Treasurer's accounts and statements, which he read before the Association, and submitted as his report:

Report of the S. D. A. Publishing Association, from June 2, 1861, to Oct. 4, 1861.

CASH ACCOUNT.

Cash on hand at date of transfer,	$ 201,72
" Rec'd in subscriptions for Review,	991,59
" " " " " Instructor,	93,02
" " From Book sales by mail,	197,86
" " For Shares in Association,	2132,35
" Borrowed,	1402,74
" Received on Deposit,	243,00
" Received from Custom Work,	39,25
" " For Missionary Purposes,	84,62
" " In Premiums on Drafts,	6,93
" " For Michigan Tent,	22,42
" " On Account,	402,30
Total,	$5817,80

The Association has paid

For work on Books and Papers	$ 811,56
" Material and Sundries,	1154,10
On Borrowed Money,	489,82
Jones & Day on Building,	2530,41
On Missionary Account,	27,38
It has Cash on hand to balance,	804,53
Total,	$5817,80

FURTHER STATEMENT

RESPECTING THE FINANCIAL CONDITION OF THE OFFICE.

When the transfer of Office Property was made to the Seventh-day Adventist Publishing Association by Bro. White, June 2, 1861, the Assets of the Publishing Department were as follows:

Presses, Engine, Type, Books, Stock and Accounts,	$ 9833,08
Cash on hand,	201,72
Amount,	$10034,80

Against this there were Liabilities to the amount of	$ 3542,21

These were assumed by the Association, leaving the nett value of property transferred, 6492,59

To this has been added as follows:

Real Estate in Lots and Office Building,	$ 4181,40
Whole amount received on Shares and in Donations to Association,	3590,36

This includes all the Shares issued out of money previously deposited in the Office, and all that have been issued on Account, which will explain the difference between the amount as here given, and that stated in the Cash Account above.

Received on Review,	991,59
" " Instructor,	93,02
" " Book sales by mail,	197,86
" " From Custom Work,	39,25
" " In Premiums on Drafts,	6,93
Due from Custom Work,	108,35
Estimated increase of Stock,	1000,00
Total,	$17103,65

Since its Organization the Association has paid as follows:

For Material and Sundries,	$ 1154,10
" Work on Books and Papers ($80,85 of which has been settled by note),	892,41
Jones & Day on Building,	3347,63

This is the entire amount paid on the building, including what has been paid on Account as well as in Cash.

On Borrowed Money,	489,82
" Missionary Account,	27,38
Amount,	$5911,34

The Association has present liabilities, including all those liabilities originally assumed which have not been canceled, as follows:

In outstanding notes,	$ 4790,86
" Amount due for work in Office,	187,60
" " " James White for Books,	155,95
" " " Missionary Board,	387,95
" " " Michigan Tent,	75,87
Amount,	$5598,23

URIAH SMITH, Treasurer.

Battle Creek, Mich., Oct. 3, 1861.

This may certify that I have examined the foregoing account, and find it correctly cast and properly vouched. J. N. LOUGHBOROUGH, Auditor.

Battle Creek, Mich., Oct. 4, 1861.

The members of the Association then proceeded to the nomination and election of officers for the ensuing term. The following brethren were nominated and chosen: James White, President. Geo. W. Amadon, Vice President. Cyrenius Smith and J. P. Kellogg, Committee on Publication. E. S. Walker, Secretary. U. Smith, Treasurer. J. N. Loughborough, Auditor. James White, Editor of REVIEW AND HERALD, and G. W. Amadon, Editor of YOUTH'S INSTRUCTOR. According to Art. III, Sec. 1, it became necessary for the Association to fix the salaries of the President, Editors, Secretary and Treasurer. The following resolutions were submitted and adopted:

Resolved, That the President be paid for the next term of his service as President and Editor, seven dollars per week.

Resolved, That the Secretary, Treasurer, and Editor of YOUTH'S INSTRUCTOR, be paid for all their labors and duties in connection with the Office for the next term of their service at the rate of seven dollars per week.

In accordance with Sec. 2, of Art. III, the following resolution was adopted:

Resolved, That the Auditor be paid the sum of ten dollars for his services for the past term.

Brn. S. Rumery, J. S. Day, O. B. Jones and H. S. Lay, presented the following resolution, which was adopted:

Resolved, That the next annual meeting of the Association be held at Monterey, Mich., on Friday, the 5th day of October, A. D. 1862, at 9 o'clock A. M.

Adjourned sine die.

JAMES WHITE, President. E. S. WALKER, Secretary.