National Republican. (Washington City (D.C.)) 1872-1888, 1874-03-07

hi Ami tn.. tAs esassssass disapprsvss The A.
.s.s.rs1ip Il - lasl vXfiaA1 r. i.s ssIi&s&
ssesnA, tAa1 ~ seStgts q IL sosisty shse3d b
more speeioe h the naatse q hsnaitiss and ~
tnrsed 1eaAs; third, ths Importance Of guarding
ths annuity plan b. sssarsly investing ssen
death Of the bsQusaahsr, fourth, that We recom-
mend . enxtafl in expenses anA eereful and
economical adtustment Of Its business.
Az ixr.arsrrxa psBArE
Dr. Kynett said he vas surprised ct the sweep
ing criticisms Of the report He had m intimatloa
fron Dr.. tiffany that tAs report would suggest
@sons criticisna," bat he MAS unprspared fsr
u such report He held that the directions Of the
General Confsrsnee ~ 70 procuring charter end
organizing the board had been complied with,
except In the ss-e6geis relation Of the bishops.
Aftsr directing the bishops 10 detsrmins the form
oforgantsatioa, the General Confersnes had dstse-
mined II Itself and nads Il TO consist Of thirty
two laymsn al thirty-two clergy. The old form
Of ofSanizAtiea had been continued IN orderthat
the society might keep it, hand on the bsqueatls
made % Il "aad ~ haayst 70 IND b man Who
theaght It inpeopss. fApplasss.1 There were
no enlarged powers under the new charter, ~ set
forth IN the report Of the committee except In the
serte6 ,ove,r,,- nj. $500. :, ". h.,a ~. =.
ho.rd oths.-,.s ...,S -.. ,"n.Hu Ae.s 10 s.e
quests"
..c.rs Ts,s 1870 !. -. h.-..s. .s."r.,sd \.
another, preventing the board IRON paying ont -
annuities more than II receives - interest ON
| loans. There % . lf:tls didsrsnos At present
owing to large amount Of old standing debts
which had accrued before the present beard was
organized. This Differences 10 growing constantly
less - these debts are discharged, snd It must
| soon disappsar altogether. r.
| Bishop Andrews and large and able CON-
mittss had Examined into the annuity invest
- .'pS ~ W eNns uusnes'
nsnis. m Phs,.aslnhi. ofy.r ~ ~ -
ReI,siv, 40 ~ ern.r.. ~ runn,,v IN. .o.,.tv
IL a Iittls In src.ss of 40 N ..-r1r- an ths
other eeneyo,snesa erthe Church and vet n n =,
ha.vv a. n vonn h. - n, hn.,,..s i,.,.. "a
10 half A milton Of dollsrs Tns nsro.nt.,, 4
mt nv noctsr T1a.ny IN ~. .oII.,t;o, r,nd or,v
fasidss ~ ethe, vo,r the .oeIetv h,s c,e.ted
permanent fund Of Zoo ooo. and he ehallenrsd
and dated Investigation or the mention of A
sre.t a sucoess by = siu,4a,r orrsnix.tion. ian.
nlsus.1
The loan fund 10 preserved in trust the number
Of churches increa,ed by the practical workinrs
Of the society. : 81. y. - 80
The use Of annuity funds prior to the death Of
the parties has proved most satisfactory, by giving
the needy churches the us Of the money. The
securities held BY the board are the best, though
In every cass those Of Methodist ehurehes. We
prefer them for safety, and have
xEyR rKr Lost poILAH
,o.nsd IN /. M.,hod,.t .trr.h rh.x a.. M. :,
promnt =. some othsrs Int tssv .rs nrs r. siow
The hoard has certainly done vel Thu rou,.
,ny n, ons dol.r mt !, M, corn.r,.. iii ~.
one do,lay and s.v.nty cant, n, mi. x..r,s II
port n NOV IN tbe hands AZ tbs nrInt.r and mi,
Win . tract exnI.Ininr the sntirc vork,ny NJ ths
.,c,.tx lin ~, ,...e ...h ~ -. \, -,
: - = = - = - Il
DOCTOR TIFFANY kkfLlfn ~
that instead OF disproving the facts Is stated IN
the report the speaker had admitted and sought
to explain them. 1t Is true that the new charter
provides enlarged powers, for BY the board could
DO business Of &looooo while under the old char
ter 1t could do but tlo,ooo ~.
BY the old charter the board held the interests
tn trust for the Church. Now 1t holds them ct
will. Perhaps the Investments are wisely made.
Tho criticism is not As to the Investments, but
that the power to invest has been put into the
hands Of one man. 1t 10 too great power for the
Church to delegate to any man, let his purity BE-
immaculate and his Judgment ever 81 correct.
He pgst have successor, and It is dangerous
practice. fAppiauSe. - ta-1 -
DR.. Kynett said this was wrong impression.
No annuity can be grouped, no investment made,
until tine committee Oh tine ooaru examine Into 1t
ny. .no .ne se,,neA'e oe.s INC eoon'elss nstore OF
ing so Az c"e wv e.sfo Ssn oiop
INTO tne once !. rnnaoeiPnis ana sec the entire |
t.ak - us'S, \
d. Ainany' w. ooc.o., 'nat "on 10.
uiange tning We can't Know tnese things WITH
ouo gong 70 H,Hae'PnIa- iAPpisuseI
". A!ne't: Aas ueneIA Conference % inc
Nnul'n .pp0'n.s .ne uo.Iu, .na f09unes 70
msNs epolIs snu qaAaIennI.y .ok"e =.
coun. o. us Dusinss. ~ especiny %s.nnea
.oi ss.ey' .ne uo@iu 'An' Puon'n 81 INC oe-
's,is y. ~ GUINNESS
". A"sn5' Anu yet, sr' 'no Chafcn eAPect'
iH WeNno supper. II nave ngn' 70 Know NO"
inc business y .omln,s'eiec. Inc olae,s " sne
General conference nave oecn ignored IN TINS
matter the NUMBER ana organi1ation OF the board
.te not - oraeieo. II inc Lesisiatufs Oh fenn-
syVsnis wouid NOT grant enarter a required oy
the Conference with larger number OF clergy
than LAY members tho BOARD was instructed TO
seek cnar!er elsewhere, ana YET II did NOT 90 II.
Inc expenditures are somitted 70 Do q charged
oy the board, 70 Per cent OF the receipts from
The loan fund is kept intact. rs reouired by the |
charter, but this is done by crediting delinquent |
and transferring the amount from the general
fund to the loan fund, and charging II ont - |
kind Of
DouBIE-xxrRY BooK-KExp1xe,
vh,.b 5or,t fancy and Va. IN. r.nort. don,t A. |
Main mi. =
Dr Kynett- How aid Won fnd IL out,
mr. Tir.ny From The rsnort, and INV knovl-
sdpe of The society
n, Kyn.tt tbou,bt rou ..,a III. ,.rort.
didn't shov n TAppla1,e !
THE new board borrowed individually in the
HANKS Of Pbiladelphia. sas ooo. and tool nm that |
smount Of Ga protested drsfts and other debts
Than n took chsros of ths concern AIso An ooo |
deemed collectable untfi the ~ pan,c Nucb of |
mi, iii, h. cov.,.d Nv IN. ..r,,,r, m ,s1I
N, Ti6.nv ,n.i.,eS nat n ~ mt . al, -.
tenn NJ hu.insss IN credft losns n.s vhtch nsrs,
h.a -, ,.,a .vc.,A hv .,,,,s. *, ~ 49,.
Risbop Lance cailed DR. ri0sny,, attention ia !
the fact ,h,t tho amounts v.n. AZ rsnorted I'M |
the printed reports a. donstions -
mr. TIFFANY held that ~ v.s s,mnlv m.h,n~
n, n Allowing