The central Presbyterian. [volume] (Richmond, Va.) 1856-1908, 1878-05-29

gives to these authorized publications. Will
the present circulation the annual incom,
from this source would be at least $1,500
With circulation such as the full patronagt
of our Church would give us, it would b
more than double this amount, or enough tc
pay all the expenses of the Committee.
CONTRACT WITH THE PRESBYTERIAN PUBLISH
ING COMPANY.
By the terms Of this contract, which went
into effect on the 18th day of November,
1877, the St. Louis Presbyterian Publishing
Company purchased the stock of books Of
the Committee of Publication at two-ffths
the catalogue or retail price, which was re-
garded as about the cost Of reproducing them.
The amount realized from this sale was ST.
782. The payments on this purchase to be
made in monthly instalments of $1,000, the
first Sc 900 to be made equal to cash.
The Presbyterian Publishing Company
binds itself to publish and keep in stock the
works of the Committee of Pablication-the
Committee furnishing the stereotype plates,
copyrights, and illustrative cuts of the pub
lications which they desire to have published
also to maintain the depository at Rich
mond for the sale, packing, and shipping Of
books, as heretofore, under competent bust
ness manager, the Committee of Publication
having general oversight of it.
The books are to be sold at present cata-
logue prices, or such prices as may be agreed
upon hereafter, and the same discounts to
ministers, churches, and for the colportage
work are to be given as heretofore.
The present standard in the mechanical
execution of the work is to be maintained.
At the end of every Blk months an accur-
ate statement of sales is to be rendered by
the Presbyterian Publishing Company, and
they are to pay 10 per cent. on gross sales
of bound books, aud five per cent. on sales
of unbound books of the Committees publ
cations, except on sales to regular colpor-
teurs, on which sales the royalty shall be five
per cent. on bound books, and q per cent.
on unbound books. On such books as are
on the approved list of the Committee, but
of which the Committee does not own the
copyright and plates, but depends upon pro-
curing the sheets from the publishers, the
royalty is to be y per cent on gross sales.
The Committee of Publication is to receive
a discount of so per cent on all books pur-
chased for it's benevolent work, the expense
of shipping and packing being borne by the
st. Louis Publishing Company.
The contract is to continue three years
from date, either party desiring to close it at
that time is to give the other party, in writ.
ing, twelve months notice.
If this contract is terminated by the action
of the Executive Committee of Publication,
or by the action of the General Assembly,
the Committee of Publication undertakes to
repurchase the stock to the amount of $l2,-
600.
1t is hoped that this arrangement may be
found not only practicable, but abundantly
successful. 1t is impossible to form any def.
mite estimate of the income to the Committee
under this contract, but it is ssfe to say that
a business as large as that Of the year end
ing April, 1876, would afford an income suf-
fcient to meet q considerable portion of the
expenses'of the Committee under the new sr.
rangement 1t will be observed that the
Committee is relieved of all expenses con-
nected with the business.
SALE OF THE PUBLISHING HOUSE.
The third article of the report of the
Standing Committee of Publication, also
adopted by the General Assembly of 1877,
is as follows:
"3. That the Committee be instructed to
dispose of the Publishing House as soon as
this can be done without unnecessary sacri-
fee of value, unless means be raised within
a reasonable time to liquidate the debt now
resting upon il"
In obedience to these instructions, the
was placed in the hands of respon-
sible real estate agents for sale, in June last,
and in August, in order that everything pos
sible might be done to carry out the order of
the General Assembly, the agents were in
structed to offer it at public sale; but the
offers made being unsatisfactory it was with
drawn. The highest offer that has thus far
been made is $3l, 900; but as this, in the
Judgment of the Committee, as we'll as that
of many of the best real estate agents in
Richmond, would be ga sacrifice of value"
the property having been valued at the
time of its purchase at $45, 00,-the Com
mittee have believed that the General Assem-
bly, would justify them in delaying the sale
until more favorable terms could be obtained.
The property is still in the hands of the
agents, with instructions to sell as soon as
fair value can be obtained, and there is rea-
son to expect that at an early day the sale
will be effected. In the meantime, such ar
rangements have been made as to give an in.
come from the building nearly sufficient to
cover all expenses of interest on the debt,
insurance, and taxes. The first floor, occu-
pied by the Committee as store until No
vember 18Th, has been rented for $1,000,
and the rents from other portions of the
building amount to nearly as much more
There are still three Offices unrented. If We
are able to secure tenants for these, as We
hope, our rent roll will be about sufficient to
provide for all expenses. In view of the dull.
ness of the times, and the fact that many
buildings are not rented, the Committee feel
that it is cause of congratulation that they
have been able to make arrangements 80 fa-
vorable. With an improved condition of
business affairs the building would afford an
income considerably above the expenses upon
it.
The following table gives the receipts and
expenditures on account of Publication
House.
RECEIPTS.
Rents, 1926 90
EXPENDITURES.
Interest on $3l 600. at 81 per
cent, $2,63 90
Tnsurance $50 90
Taxes, City and State, 67l 10