The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-02-20
THE METHODIST BOOK CONCERN.

The report of the agents of the Metho-
dist Book Concern to the book COM
mittee, at Chicago last week, shows
assets S420S, 1923. and net capital
S3,267,244.16 The sales during 1892
reached SO .252. 1851, which is an M
crease of S51, 001.51 over the sales of the
preceding year; and the profits were
S22s, 114.41. Of this, $4,000 was
divided among the worn-Out preachers
Of the connection and the widows and
orphans of those who had died, the bal
ance of the profits being applied to in
creased plant and other facilities for
increasing the business.
One of the striking revelations of this
exhibit is that it shows a pet profit of 10
per cent. upon the capital invested,
which ia a rare result in so large bust
ness. And yet this exhibit does not
show the entire business Of that church
in tho publishing line, for there are a
dozen or more independent Methodist
papers, some of which have large local
circulatious, and it has become. pro-,
verbal that. for certain reasons, the
bishops and many other eminent Metho-l
dist authors uniformly seek the Harp
ers or some other publishing house for
their productions, and more than half
of the text books used by under
graduates in the ministry are from
other publishers.
In many respects this concern" is
unique. 1t is not an individual enter
prise, nor, in any sense that would i'm
ply q founding by the church or a con-
troll by it, is it church enterprise, nor
yet, though Incorporated formally, is it
a corporation, having no stockholders
who control it and share it's profits. 1t
is the outRrowth of a purely personal
venture, which began in 1890, on bOr-
rowed capital. No contribution from
the church has ever been made to it, but
it's capital is the outgrowth of that
humble beginning. From the first its
profits, after paying the borrowed CAPT.
tai. have been devoted to the enlarge
ment of it's business and to meeting the
expenses of the episcopacy until within
residue being divided among destitute
preachers. Its ownership belongs ex-
clusively to the preachers who are men,
bers of the connection" or members of
the conference, the original proprietor
having so disposed of his individual and
unauthorized venture; and its manage
ment has been, from the beginning. by
the preachers. through agents chosen by
them, who have always been preachers,
with the exception of one layman,
short time, who was elected by
the preachers because of his acct
dental fitness, having been, from a
boy, an employe in the concern, and
having become more familiar with the
details of the business than any other
man. 1t is not probable that another
layman will succeed him soon, if ever.
for layman competent to manage such
O business can do better for himself in
managing his own affairs, unless the
rare accidents which SO prominently
distinguished the late Mr.. Phillips can
combine in another layman.
Its history is every way marvel of
success. In its hundred years its paper
has never gone to protest. nor has the
breath of scandal or the suspicion of
fraud once been heard as against any
one connected with it, except that. some
twenty years ago, it was discovered that
an employe in the bindery was using the
scraps of gold leaf found among the
sweepings, instead of turning them into
! the funds of the house. This was seized
upon by sensational reporters and mag
| nified into mountain of suspicious,
which for a time seemed to point to
high-handed corruption. The above
| figures but partially indicate the success
of the Methodist Book Concern. for,
from the first until now, in addition to
| dividends to the conferences, and for
three-Quarters of a century the treasury
from which the episcopal expenses were
paid, it has been drawn upon for a lot of
unclassified expenses which in the ag-
| gregate amount to millions. and yet it ia
the largest religious publishing estab-
lishment in the world, though thus
drawn upon from the beginning for ex-
| penses not germane to 1t.
| ssz9A.-a.@
| JUDGE GRESHAM was appointed a