Middletown transcript., 1893-03-25
THE ENDOWMENT FUND.


Warm Debate on the Questions OF
Raising and Disbursing Same.
The resolutions in reference to the
formation of an endowment fund, and
the distribution of the same came up
for debate at 1045, and was taken up
seriatum. The preambles were taken
up and passed without any debate. But
when that portion was reached referring
to the distribution of the funds, there
were many eloquent addresses both for
and against this section.
This plan has been in use by the New
York East Conference for more than
eight years, and has proven very salts
factory. Rev. j. Benson Hamilton ap-
peared before the conference on Satur-
day and lay the plan before the Board
of Stewards and met with their ap-
proval.
The object of changing the manner
of distribution and collection of funds
for this purpose eliminates the idea OF
begging, or placing the superannuated
ministers on a level with common pau.
pers.
The questions remained unsettled at
the time of adjournment.
That section of the statment as to how
the funds should be raised, was the
lbject under discussion when the Con-
ference adjourned to meet at 2:30 with
memorial service as the order of the
day.
There is possibility that an evening
session will be held, at which the pre-
vious unfinished question will
be taken up fer final action
and the committee reports will furnish
the work for the morning and closing
session. The appointments will pro-
badly be made tomorrow. and will APP
pear officially in the TRANSCRIPT.
The resolutions upon which the
debate is pending are as follows:
ENDOWMENT FUND.
Your committee recommend that the
veteran cause be made the great object of
appeal during the coming year.
That secretary shall be appointed to
secure pledges TO the Endowment Fund,
the principal of which may be paid at the
option of the subscriber, but the interest of
which shall be expected annually.
And that we pledge such secretary our
ready cooperation.
We would also recommend the adoption
of the following plan for celebrating and
our annual fund.
Each congregation shall observe Sunday
to be known as Veterans Day, uptn
which the pastors shall present this cause
to the member of the church, and empha
size their obligations to the conference |
A collection shall be taken in |
The public congregation for the support of |
conference claimants separate from any |
other interest.
All moneys received for annual distribu-
ion in aid of the support of Conference
claimants shall be divided in two sums; the
irst, consisting of IS per cent. of the whole,
hall be called the annuity fund;the second,
hall be called the Necessitous Fund All
'uperanuated ministers. the widows and
children under fifteen years of age of de-
,eased ministers shall be conference claim
lnts unless the claim be voluntarily re-
inquished.
The Annuity Fund shall. be divided
mong the conference claimants upon
he following +. basis. Each minister
hall receive annually ten dollars for each
ear of his effective service; each widow
hall receive one-half of her husbands
lain; each child shall receive one-fifth of
IS fathers claim. These claims shall be
aid pro rata from the money in hand.
The Necessitous Fund shall be divided
mong the claimants, whether superannu
ties, widows or children, whose annuities
re insufficient for their needs in such pro-
ortions as the Board of Conference Stew
rds may deem equitable.
The gross allowance to each claimant
rom the above funds shall be reported to
nd approved by the annual conference.
WHEREAS, the carrying out of this plan
ill require an increased income for the
lpport of Conference claimants therefore
RESOLVED, That each member of the con
erence, except those who are superannu:
ted, will be expected to contribute at least
We dollars annually to the Endowmen
und.