The daily morning journal and courier., 1907-10-17
BAPTISTS' POSITION ON
 WALKERS DEFALCATION Report of Committee at State Convention Being
 Held at Putnam.
GROSS LOSSES $63, ,O47.O6
Campaign to Raise $5O,OOO Has Been Pushed With
 Courage and Faith.

Following is an abstract of the re- port of the board of trustees at the Connecticut Baptist convention in Put nam, dealing with the dedication of former Treasurer Walker:
 The report was in the nature of an official statement and included the summary of the work of the committee of six. of which Carnot o. Spencer was chairman; the reports of the attorney, Edward K. Nicholson and of the treas- urer, Charles Edward Prier. The trus- tees accompany the report with statement in which they say that the last report began with ia song of praise, and we looked into the year now ending with large plans, strong hopes and optimistic faith We close the year and face another with min- gled tears of sorrow and joy. Since the days of the trials of our fathers by bit ter and bloody prosecutions, Connecti- cut Baptists have never been put to a severer test and never have they shown a better mettle than now"
 A record of ~ deaths of the past year Is then given, followed by the re- ports of Mir. Prior, Mir. Nicholson and Secretary F, H. Divine, which was published in the summer. This gives the financial condition of the conven- ton as shown for the first time since the dedication of Walker The steal ings of the former treasurer are set forth in the following summary: Losses to trust funds, $32, ,4S5; losses to annuity funds (permanent trusts) $7,75O; un- known obligations made and carried without the knowledge of the officers and board, $S,656,0S, including notes on the National bank of New Britain, the Savings bank of New Britain, unpaid bills and dividends and an over-draft; losses to permanent and other funds, $1420O, making the total gross losses $63,047.O6.
 As against this the convention had miscellaneous assets of $5,751, making the net losses through Walkers thefts $57,290.06
 The following is the report of the committee of six, which included aside from the chairman, r. H. Divine, F. K. Nicholson, w. A. Grippin, Alfred Spen- cer, Jr., Ezra H. Stevens and c. D. Prior:
 Your committee of six first sought to discover the exact financial condi- ton of the convention, the condition of each separate fund and the utstanding obligations of all kinds. It was dscov- cred that the apparent assets contained worthless and forged paper amounting to $s,461, Of the other assets doubtful and undesirable securities were sold and the proceeds put into such form that would remove all question. As fast as possible these avails and other receipts to various trust and other convention funds have been invested in high class bonds. The treasurer has secured the convention by executing an Indemnity bond in the sum of $10,O00 and this bond Is subject to such in- crease as the committee of six may direct. The secretary has also secured the convention by giving a bond in the sum of $1,0O0. Every mortgage execut- cd, every bond purchased or acquired by gift and every bank account is made and held in the name of the Connecticut Baptist convention and not fin the name of the treasurer. No in- vestments are made without the au- thority of the committee of six and then only in such forms as are legal for trust funds.
 All known lawful outstanding obli- gations of every kind have been paid. The Royawton fund has been fully re- stored and returned to the custody of the church in compliance with their request. All matured interest obllga- tons have been paid up to date and all dividends due benefciaries and an-