The citizen. (Frederick City, Md.) 1895-1923, 1896-05-22
OUTLOOK BRIGHTER
Financial Affairs Of the Presby-
terian Mission Boards.
NOT ON THE VERGE OF BANKRUPTCY
Debts of the Home and Foreign Boards
Passed over to the Million-Dollar-
Fund Committee-Banlks Will
ling To Advance Loans.


ments of the financial affairs of the
Presbyterian boards of home and for
eirn missions have just been given out
nv the treasurers of the two institu-
tions. These statements come prop
erlv before the general assembly which
meets at Saratoga tomorrow, but
their publication is made to-day be-
cause of the widespread interest Gre
ated by the efforts of the Memorial
Fund committee to raise million dol
lars to lift the back indebtedness of
the boards. Last year the foreign
board reported a debt of $174, ,770.54,
while the debt of the home board was
more than twice that sum, viz: 1884,
s5O.O5. Added to this were debts of
other boards, making total deficit in
the treasures of the church boards of
charities of 5000, 900. DIR. Robert, in
speaking of the home boards debt,
stated that the contributions to the
treasury had fallen off so materially
as to cripple the board in its work of
the wear. He declared that it was inn
nosSible to borrow another cent to
meet the wants of the board. The idea
created by this statement in the pub
lie mind was that the two great charity
boards Of the Presbyterian boards were
practically bank rupt. This idea was
strengthened by the criticisms of the
action of the boards in erecting an
office building at Fifth avenue and
Twentieth street, upon which a great
mortgage was placed and a great
charge incurred for interest and taxes
paid and rentals lost.
Brighter View of the Case.
The statement given out to-day
brightens this view of the case consid.
erably At the end of the year the
treasurers of the boards wrote off
their deficits, passed their debts over
to the million dollar-fund committee,
and started the year 1896 with clean
accounts. The estimated expenses of
the new year were greatly reduced and
the boards and secretaries started in to
meet the conditions with hope and
4 spirit. They moved into the new build
ing, which was completed last year,
and made urgent calls upon the
churches for help. At the same time
the n-dollar-committee made a
great effort to gather in enough
money to clear off the burden of
back debts which rested upon the
resources and property of the
boards. A big meeting at Carnegie
hall, at which President Cleveland
4 presided, was arranged, and similar
efforts in other cities were made. The
;e 10 1,o, II,
(S350, ,000), of the sum set before the
million dollar-fund committee has been
raised. OF this sum S92, ,357.58 was
passed to credit of the foreign boards
deficit, leaving the sum to be carried
Rs back debt by that board $76, no. 46.
The home board having larger debt
received large portion of the million
Dollar fund, or $199, ,750.10 Other con-
tributions reduced this back debt to
the sum of $3.50, 9,5O9.51. These two
bums Of back debt will be reduced by
further payments of ZOO and $780,
poo in round numbers respectively,
put that will come in next years ac-
counts. They stand to-day as stated:
back debt for the two boards about a
Quarter of a million dollars.
Foreign Boards sd8Plds.
The foreign boards receipFs for the
ear ending April 80, 1895, reach the
um of SsS5, 391 7S, gain of S10s 682.41
Pver last years receipts for the same
beriod The reduced expenditures of
pc year enabled the treasurer of the
pard to close his books with a surplus
iuh hf from
Pc back debt, reduces that sum be-
w $4,000 nominally and $25, 200 ac-
pally. In this connection Treasurer
ullls states that there never has
zen time when the pay of a mission
y, charges for transportation or
her debts of the board has been de-
ged five minutes by the officers. Nor
s there been a time in the history of
board when it was not possible for
treasury to avail itself of credit
th the New York banks to the ex-
nt Of an extra $1OO,OO0 if that sum
required. Our bills at the end of
earth are received and cashed as
dlly as those of the best Wall street
nkers.
New Eebt for the Home Board.
he statement of the home board
ws expenditures for the year end
March 81, 1896, 1856, ,9S5. 90, a sum
ca less than usual with this board
Per the present regime. This sum
oeen met by receipts of but $780,
W Tor the current yerr. making a
debt for this board of 1929, ,552.91.
added to the old debt makes a
rge OF S299, ,062 AZ nominal debt less
amount of $4,000 still due from
memorial funl.
sVes Cleveland Will Be the Nominee.
lagara Falls, N. Y. May 2O.-Hon.
paryl Ely, democratic state COM
eoinan for this district, who has
returned from Washington, says
q nc Delleves that President Cleve-
VIII be the democratic nominee
resident and will be elected. At
'"e a Oh the Cleveland Hill factional
Mr. Ely was the Hill leader in
district.
@rs' Nicholas IIussey Dead.
Oany, May 2O.-Mrs. Nicholas ].
'S' wife of Nicholas ]. Hussey OF
NaOlonal Commercial bank OF
y am, and sister of Eugene D.
U'so here yesterday.
'smarcI'a Fa,~