Evening star., 1908-01-19
TOTAL OF PERMANENTLY
Review of the Finances Sof the Or
ganization.
SCALING OF THE PENSIONS
List Of Officers Chosen for the En-
suing Year-Mr. A. T. Stuart
Re-Elected Treasurer.

According to the annual report Of Presi-
| dent E. G. Kimball Of the Teachers An
nuity and Aid Association of the local
public schools, the association has, in the
| fourteen years of it's existence. paid out
| in benefits $j3, ,8O2 81, the amount paid in
this way up to 1906 having been only
$37,Ss2.os. The report was made at the
annual meeting of the association yester-
day In the Business High School assem-
bly, hall. Supt. Stuart was unanimously
reelected to the office of treasurer at this
meeting.
The report Of President Kimball showed
that the association in the fourteen years
since it's inception has accumulated a
permanent fund of nearly s-venty-eight
Thousand dollars. whicn, by the terms o.
the constitution, cannot be drawn upon
for any purpose.
During tine past year, by means OF en-
terlalnmenIs ana honorary memberships,
the teachers have adoed nearIy $a.OuU du
the permanent runQ. This tunu is DuIlL
up primarily from half the dues paio
INTO the treasury. The other hai1 o.
the dues, together with the interest ac-
cTuing from The investment OF the perma-
ncnt Iund, forms an annuity fund. from
winch pensions and death Denents are
paid.
In the early years of the association
ths number of annuiIies and the deaths
wers so few that the funu accumulated
until, in lSUl. a reserve OF $o,VUU was III
Ln.s bank. TINS reserve fund, ADDED 10
the current dues, made it possible for
the association 10 pay annutirs IN full.
but as annui,ants Increased and deaLn
Denents became due, it became necessary
to draw upon the reserve 10 such an ex-
tent that iast spring it became exhausted,
anG since then annuities have been paid
from the annuity fund alone.
Pensions Scaled.
Hence 1t became necessary in accord
ance with the provisions of the constitu-
tion to scale the pensions to correspond
with the assets Of the association. Even
with the annuities scaled, however, the
Washington association. it is stated, pays
a larger sum to its pensioners than any
other teachers organization in the
country.
A striking feature of the annual report
was table giving the amount paid in and
the amount received by each annuitant
as showing of large benefits received
from small investments.
That the association is realizing the
purpose OF its founders may be seen, &C.
cording to DR.. Kimball, from the increase
In its activity during the past two years.
In 1906 the capital fund was $63.492. 20:
now it Is S77,580.48. Up to 1906 the asso-
citation had paid out In pensions and death
benefits S37.S8208; up to 1908. $53. .8026l.
The investments Of the association. which
are real estate loans, are made by the
president with the advice and approval
Of the advisory board, composed Of Mr..
John Joy Edison, Mr.. J. w. Whelpley and
Mr.. Clarence B. Rheem. and net the asso-
citation not less than S per cent interest
on the permanent fund.
Since the formation in 1894 the asso-
citation has had one treasurer, Mr.. A T.
Stuart, and two financial secretaries, Mr..
Clark. all Of whom have served without
compensation. The accounts Of these Of
ficers are audited by the financial COM
mittee Of the board Of directors. The dis
of annuities and death benefits are regu-
lated by the constitution. Minor expenses
are subject to the approval OF the board
Of directors.
The confidence Of the association In its
treasurer and its financial secretary was
manifested in the unanimous reelection
Of both Mr.. Stuart and Mr.. Clark Prac-
tically all the other officers were chosen
for another term.
Two important amendments to the con-
stitution were passed at this meeting. The
first increases the annual dues from III
per cent to 2A per cent. The second opens
the doors Of the association to some who
have previously been debarred from men,
bership.
Officers for Ensuing Year.
The officers OF the association for the
ensuing year are as follows:
E. G. Kmball, president; Rebecca Stone
road. first vice president: Nora Hoegels-
berger. second vice president; Flora L
Hendley, recording secretary: Charles s.
Clark. financial secretary; A. T. Stuart.
treasurer.
Directors-Anne NJ. Cooling. special divi-
sion: Carrie E. Toner. first division: Clara
G. Brewer. second division; Helen G. Mich
OILS, third division; Maude F. English.
fourth division; Adelaide Davis. fifth
division; Blanche NJ. Pearson, sixth divi-
sion: Anne Beers. seventh division: Mary
L. Smith. eighth division; Annie E..
Loomis. ninth division: Emma s. Jacobs
and Annie M. Wilson. at large.
| Advisory board-John Joy Edison, J. W..
Whelpley and Clarence B. Rheem.
15,OOo-MILE TRIP FOR CRAFT.