The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-10
TRACT SOCIEHY'S FINANCES.
GAPS ~ REPORT STIR TBE ~
NCiL MEETING.

-
Information Demaaded ~ ~ Ire inesms
Ersm tine Nassaa strret shysrvapes
-siets D0Skkeepev Given - ESeuse fss
Mlssina gigafes- New President Chosen
An Incomplete financial report. lacking
what SOM members scsmed b. consider
essential atatemienta N income and sxpendl.
tufea, and containing othefs hat were sonso-
what complicated. caused ohicers NJ the
American Tract Society at the eighty. hfat
annual nesting u that organization yeulsT-
day afternoon In thu chapel ~ tho Madison
aquars Presbyterian Church 10 enter Into
lengthy explanations as TO the reasons
for the non-appearanoc NJ the figures. In
reply 20 what was practically n demand
for the figures the officers excused their
non-appearanos on the ground that n book
keeper wa ~,
The Rev. Dr.. ~. A. Stimeon wanted In
formation ~ 10 the coat ~ maintenance
Of the Tract SoCiety's skyscraper building
at Sprtlce and Nassau streets and the In
come derived from n. Ho called upon
Louis Tag. who aote ~ assistant treasurer
Of the society, now without a treasurer. to
MI up tbs gRp@ In tho report.
Tag made the excuse Of the sick book
keeper. DIR. Stimson then asked the Rev.
Or. George J.. Shearer. secretary Of thu
society. for the desired information. Or.
Shearer opined that Or. Stimson might find
out what he wished 70 know from tho last
annual report"
DIR. Stimson then offered a resolution that
such information be furnished 10 the mem
bers.
DIR. Shearer volunteered the statement
that the Tract Society's building is a better
financial proposition than it ever has been
before. and that next year It IL hoped to
begin to lay aside annually a proportion
of the rentals as a sinking fund IN be applied
to the removal Of the building debt. DR..
Shearer said that nothing had been done
In the present year to ward this end, because
there had been spent ss2, 900 for new electric
equipment.
THE expectancy OF this building was
some what questioned In the past con-
tin,ied DIR. Stimson. Il will not go into that.
1t seems In the interest Of the society
that we should know whether it il main |
tanned at a loss or a gain and whether the
Of the Nassau street property il en-
hanced. From what | learn at least I per
Of the income ought to be set aside
for repair of wear and tear upon the build
N IL IuSTnDeT, WHO 6dlU ne FAVORED
this matter of bringing the whole report
before the public, seconded a motion that
DR.. Stimson's resolution go to the executive
committee for consideration. This suited
DR.. Stimson. DIR. Shearer explained at
length reasons which he said make
i impossible to separate benevolent gifts
rom expenses OF publication.
W cannot always be worldly and look
10 make money he said. I'VE are not as
publishers are. We must sometimes
publish at a loss a boob that we know will
be OF great Christian benefit. 1t would be
impossible to separate the benevolent effort
md the publishing business"
When 1t was not discussing the financial
the society heard a number of other
'ePorts showing good progress, and elected
William Phillips Hall, president of the Hall
signal Company, who is known as "the busi-
less man evangelist, I" 10 be president. to
Major-Gen. Oliver Otis Howard,
J. s. A., retired.
In an inaugural address President Hall
himself to high praise of Secretary
whom he described as laboring
ndefatigably for the good of Christianity
the Tract Society.
Immigration Commissioner Watchorn
lid not show up to tell. as 1t was expected
10 would, about the vast humble of immi-
rants coming to this country, but other
peakers emphasized that feature.
The much abused financial report seemed
o show that the income, with a slight bal
noe from the previous year, was 1922, 1877,
nd that there is about $500 in the treasury.