The central Presbyterian. [volume] (Richmond, Va.) 1856-1908, 1882-05-31
THE CHRISTIAN OBSER YER
AND THE PUBLICA TON
mo u Il

lore the meeting OF the General Assembly
the Christian Observer contained an edi-
torial on the subject of the Publication
work which was well calculated, if allow
ed to go without correction, to mislead
the mind of the Assembly and of the
Church in regard to this work, and es-
pecially in regard to the matter of hold
ing the publishing house until it would
be wise to dispose of it.
In the Central of the next week NAV
17th,) we pointed out the error of the
Observer in saying that the interest, etc.,
of the mortgage on the publishing house
as exceeding the income by about $500
year, and the building is depreciating
by age, etc., more than $500 year. 1t
as probably costing our Church thou
sand dollars year to hold it."
1t will be seen that this language has
reference to the present, and that it's only
significance is to show that the Committee
by holding the house is thereby sacriic-
ing the money of the Church. We cor
rected the statement of the Observer, and
said that for the year Just ended the
income from the house, so far from falling
short of the interest by $500, has ex-
ceeded the interest, insurance, cost of re-
pairs on the house, and all other expenses.
Moreover the building is not depreciat-
ing by age, but has been kept in thorough
repair, and is worth more than it was
several years ago, and IS not costing the
Church anything to hold it, until such
time as shall be considered best to sell
it."
1t will be seen that this language also
refers only to the present, and exactly
meets the issue raised by the Observer, as
to what it "i8" costing the Church to
hold the house. 1t has never been de-
MED by us-it is admitted by all con-
cerned-that the purchase of the house
has proved an unfortunate investment,
and that great losses have been sustained
IN consequence thereof.
But that has nothing to do with the
question, What does it now cost the
Church to hold the property? nor does
it relieve the error contained in the state
ment that "it is probably costing our
Church thousand dollars year to hold
it, nor the followingstill more startling"
statement made in the Observer Of May
Oath, after an array of figures dating back
to 1874; 1t therefore costs our Church
more than three thousand dollars a gea2
to hold the property, instead of one
thousand" as we modestly put it" We
repeat to the Observer, and to all con-
cerned, that it does not cost the Church
"three thousand dollars year p nor zone
thousand" dollars, nor one dollar to hold
the building until such time as it may
be considered best to sell it, as the re-
port on the subject lately presented to
the General Assembly clearly shows.
Indeed the Observer itself, in post
script to it's editorial of May Oath, con-
cedes this. 1t says "Since the fore
going was put in type, we have seen the
exhibit which the Central requests us
to examine. 1t states that the treasurer's
report shows an excess of receipts over
disbursements Of 1882 This is not a
very large income upon the sum invested
in the building" Let it be granted. But
it makes good our statement, carefully
and accurately prepared, that it is not
costing the Church any thing to hold the
building and there is vast difference
between net income to the Church of
1882 and cost to the Church of one
thousand dollars year"
Another item omitted by the Observer
is the Office rent of the Secretary, this
Office being now occupied free.
But we have not much taste for these
microscopic disputes Those who do not
care to follow such discussion will find
the matter summed up in the following
extract from the report of DR.. Hazen to
the General Assembly:
The publication house is not burden 10 the
Church, but the reverse. An offer was made
some months ago to the Committee Of S31 900
for the house This would cover the mortgage
but the Committee value the house at $35 600 at
least. The account shows a rental Of S1S so
above expenses, and by adding office rent. it
would be between 500 and $3.50 larger. If we