Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1907-03-28
Salvation Army Finances.

In the annual financial report of the
Salvation Army. now ready. the bal
ance sheet shows that the assets last
year amounted to $3,G04 $50. These in
cluded: Cash on deposit. $G.1G9: free
hold and leasehold properties. $2,975.-
1SS: investment in the Reliance Trad
ing company and Salvation Industrial
Homes company, including the total is.
sue of the common stock of both com
panies. S402,4l1; accounts receivable
$13,25S; colonization loans. $5S.5Si
and furnishings and fiXings in national
headquarters, training homes and tho
Metropole Shelter outfit, $SS,20G.
The other side of the balance sheet
shows that the Salvation Army liabil
ties are as follows: Loans and mort
cages. S1.504.S11; loans for fixed peri
DDS, $5G,0G0; provincial loans, $1,l93;
special funds disabled officers. funeral
funds, etc., $49,754; corps deposits fol
building purposes, IeSacies and annui
| ties, $lG,7S2. Additions to the army
| fund for the year ending Sept 80 1906
were $1.715.920. and aud'ti to The
balances transferred from the income
| and the expenditure accounts. $56.7J2
II has often been charged that tho
Salvation Army makes no accounting
| Of the moneys received and expended
| by it. Annual reports, however. have
| been regularly issued from the nationa
headquarters in New York The re
port just issued is dated Feb II, 1907
and is from responsible auditing com
pany of that city. 1t covers every de
| tail of the business of the organization
up to Sept 81. 1906
In its report of the army the audit
ing company certifies that all record!
submitted TO il have been proved. al
| expenditures properly supported b.
valid vouchers from responsible per
sons. The books of the army were oN
amined and found correct, and no re
serve liabilities. etc. We're found, CN
cepting such as appear on the balanc
sheets. all entries to the closing period
having been included in the accounts
In concluding its comments on III
taccounts Of the Salvation Army cOrpora
ton. the auditing company says: "W
IalsO found that the administration an
the treasures of the institutions ar
lconsciontiously and carefully conduc
ed and in full accord with the inter
ton of the same
| The income received at the nationa
headquarters during the last fiscal yea
amounted to $113.2S5. Of this SUI
S9,0G6 was raised by special appeal.
. subscriptions and gifts, while the ~
preparations from the self-denial fun
and the harvest festival amounted {
r $33.2i2. Some of the items of eXpel
diture in that period were for nation;
training homes, $9,905; homes of res
and sick and wounded, 5000: salarie
Of staff and employees. S14,427: fiel
: officers travelling expenses. $112.
: In the shelter and relief department
for which $252,021 was reserved. $191
lG5 was given to poor mems shelter
, and $12,S3G to children's homes. I'll
sum given to general relief. $3.50
was spent for cheap coal and ice, fires
air camp, special assistance to the poo
and Christmas dinners. The sum r
lceiyed for this work from special a.
peals, street collections and gifts f;
= Christmas work amounted to only
: small part of the total required. So
9G2.
The balance sheet of the colOniZatir
. department shows that the army hold
5 property valued at $751; PIG, the entil
l sum invested in that departmel
: amounting to S305,414. The assets
the Industrial Homes company amour
to $5G5 ,236, the surplus account of tn
subsidiary company amounting to So
/ SS4. The profits accruing to the r
lance Trading company of the arm
last wear amounted to o37529