, 1881-10-09
% THE BIBLE SOCIETY,

Committee on Finance (page 1927, assets
other than funds and securities. statement
which would enable him to see at glance
the total value of the assets Of the society
above its liabilities, is doomed to disappoint-
ment II an attempt was made therein to
furnish an exact and clear answer to the
question, "What is the amount Of the re-
sources Of the American Bible Society,"" the
effort was a fiat failure If, on the other
hand, an attempt was made to furnish
statement which, while nomfnally an an
swer to The question, really kept back part
Of the resources, the effort was as successful,
perhaps, as the condition Of the case would
permit
Let us examine the balance sheet in detail.
The balance OF assets shown by it is 81, ,l74,-
10. On the credit side Of the sheet is shown
as a liability, Ba!apce of Burr Fund.-"
S6Aa This I ,,is, Is n PITT Of fund to oe ex-
longs. to the American bible Society for a
branch Of its charitable work, and is, there
fore, not a liability. 70 show the pecuniary
standing Of the society April !, 1851, this
stated. On the credit side are shown, also,
trust funds, S4S.jS5, and securities assigned
and Oh deposit, SD, ,6S5-making a total of
S12223l6. {Ihe cents are not given hercin,,
but only even dOl1arS,)
On pages 153 to Isl are detailed statements
of trusts and Investments held by the So:
ciety'' aud securities assigned BY executors
of estates. The securities therein entered
amount at par to S112.22o0 The report fur
ence, slo,05a. Premiums paid on securities
held may, however, explain part of it.. Sc
curities constituting a part Of the sum of
Sl1c,:eeSo amounting to S@g.5o3. yield no III
come to the society, being held i'll trust dur
and may, therefore, properly stand as la-
bili1y until the expiration Of the trust
If from the total OF trust funds. etc, on
the balance-sheet. S12a,SlS, there be deducted
e trSt o se aG soS the de a.
ence uraccounted for (the society is given
the benefit Of this difference TO avoid the
bossibillty of an error agalnst it,, S1e:Gso.
there remains the sum of S., oO6 IN securities
yielding income for the benefit OF the society,
and not in any sense a liability, which should
also be added to the balance Of the balance.
sheet.
The Bible House property S, is is entered emit. red
iudglncnr frequently differ, but probably no
adult male contributor would put 4 yalna-
tion so low as S304. .0c0 on the BIBLE uouSc.
An. estimate OF its value derived from the
repairs. insurance, taxes, and lncldcntals,
and based on rate of interest Ut per cent
! free from taxes: nobody will consiuer eS-
cessiyely high: The gross receipts Tor TN the
urlng and depository. departments are
etc. etc. 1t It IS fair to infer froll these
charges that they occupy one-third Of Of
one one third. Si4,s'3, there is a total Of
S43,Gl7 Deduct thence the expenditures
for incidental repairs, $3.50, taxes, city and
county, $3.50; taxes, wnler, Sol2: insurance,
fuel, s1,SE; these make a total Of 81, ,:os.
The remainder, S23, III. is the net income,
free Ut taxes, which the building would pro
duce assuming that the society occupies but
one-tiird OF the whole lit may occupy more
than one-tl,lrt) and is equivalent to the In
terest at per cent OH S577.s53. The. differ
euce between this sum anu the cost of the
Bible House rs set III the statement is S2IS,-
Sls 1t should be added to the balance OF the
baiance-sAeet
Although no person familiar with the
Bible House property can doubt that its valne
Is at least as great rs here estimated, POSSIBLY
some error in getting at the net1ucome OF the
property may have been made, OWING 10 the
unique manner of keeping the accounts
For instance, ''building fund account is
charged with salaries of three Secretrries and
the Assistant Treasurer at S5,oo eaen-
ssst sPsduf stedGie of the
Securities OF which this item is composed IS
April |, ISL, was S595, $40. The difference
between the value !n TIE statement M ana the the
market Iallle-S44G, f07-sllould be added 10 the
r balance Of the balance-sheet-
4 note appended to tile balance-sheet Is as
| follows-yiz: ''N0te-Large sums OF money
have been expended by the society from tear
to year i the prosecution Of us 2eneSoleit 1Sa x
pcllitrres remain in the form, OF plates,
| books, and stock III the process OF manutact,
| rre; but II they possess any coihHielcia1
value, it is so entirely uncertain tnat y ca1l.
I mt he tal,ulatctl." From this q contributor
t}lera iS Item or llO in