Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-04-15
D. A. R. FINANCIAL
REPORT IS MADE
National Society Does Not
Owe One Cent, Mrs. Wyant
Tells Congress.

does not owe 'Ofle cent, MIS-. ADAM M
WANT, treasurer general, said in her
report whichEshowed that her office. in
the last three years, has handled So
22l 1862 80. I'VE stand today an Or
sanization of 1877 900 women with a fine
financial record" Mrs. Wyant told the
congress.
"The ground upon which our build
ings stand has an assessed value OF
S568,5lO; Memorial Continental Hall
and the Administration Building, q
value of SEAS, 900 and could not be re-
placed for so per cent additional" she
reported. I'VE have already paid $573,-
663 AS on Constitution Hall, and have in
the bank $293, 1905 ready to meet our
next payments.
I'VE own this magnificent property In
the heart of Washington and today we
have no indebtedness. We do not owe
penny"
The greater part of her report was
given over to discussion of the bond
issue of 81 1000, 900. bearing per cent
interest and maturing in 20 years. which
| the national board of management ap-
proved April 16, 1926. Pointing out that
a clause in the indenture provided for
retirement of the bonds. and that the
congress of 1925 authorized their recall
at 103 and interest, Mrs Wyant report
ed that of the total sum, only one $50
bond remains unpaid.
Bankers Comment on Status.
1.-THE owner of this bond is in Colo
RADIO, her strong box in Boston," she
! said, land am not willing to have her
! take that long expensive trip, even tC
| crafty your treasurer, and let her re.
port 100 per cent paid.
Prominent bankers say 1t Is most
unparalleled to pay of such a large
bond issue in less than year.
Chapters and individuals responded
| literally to the request sent to each
bondholder. with the redemption
notice, that they waive the premium
/ and $8.19l.5 was realized. Bonds and
interest amounting to $4,000 were con-
| tributed.
From June, 1925. to June, 1928, ]
paid $4,000 interest on the bonds
Approximately $4,000 of this amount
was earned by the bond money and
$4,000 had to be taken from the money
! earned on other contributions. This
interest now Is saved by the retiring OF
the bonds and can be added to our
building fund"
Progress on Hall Is Revealed.
The treasurer general reported that
| $859, 1858 has been given to ConStitu-
! ton Hall. now under construction. THE
! following sums" she reported. ALREADY
paid will show you the progress made
! in construction to date: To builders
$512, 252.64; to architects, $53,43816;
engineers fees, $6,353.70; miscellaneous
$I,61895."
| Pointing out that additional money
, will be needed to complete the building
Mrs. Wyant referred to a resolution
which she had introduced under which
money might be borrowed. II have
neither made nor negotiated a loan.
she said, but the next treasurer gen.
eral can do it when payments are tc
be met, and each day that borrowing
is delayed means interest saved
| High call money rates in New York
the result Of one of the greatest spec
| ulative periods In the Nations financial
history, have been of substantial finan-
cial return 70 the society, Mrs. Wyant
! indicated.
$125,00O Kept on Call.
"Our funds have been invested ir
bonds listed for trust funds or put on
call in New York. We have been most
fortunate with call money ranging from
312 per cent to 20 per cent; the interest
Is paid monthly, and that money also
Immediately put on CALI For some
time have kept $125,000 Of the cur
rent fund on call, thereby adding tc
our income.
United States Liberty bonds to the
amount of $78,100, were recalled by the
Government, and the proceeds were i'm
mediately put on call; the money from
! of "a cTNoO{aI funds aAAcd e
! investment pays so high a rate Of
| interest"
Reporting that in the last year the
sum of $4,000 was transferred from
| the current fund to the Constitution
Hall fund, the treasurer general Saic
| the society'S balance, as of March 81
warranted her in recommending the
transfer of an additional $4,000 to the
| fund.
Mrs. Wyant recommended adoption
Of q resolution agreed to by the ma
tional board of management, under
which the society would pay the sum
Of 10000 francs ($3,100) to the COM
mune of Tilloloy, France, to be used fol
a permanent water works fund, reliev-
ing the society of any further response
bility in this enterprise. This course L
recommended, she said, by Benjamin
Conner, dean of American lawyers ir
Paris, who has handled all negotiations
| for the society. The action Of the
board of management was based on 9
trip to Tilloloy, made by the retiring
president general. Mrs. Alfred j. Bros
seau, in the last year.
Old Trails Project Closed.
With dedication Of the marker or
Friday, the National Old Trails monu-
ments are completed, she reported, and
the account can be closed.
Other activities of the treasurer gen.
erals ONCE were reported, as fellows:
In addition to IL real daughters
and one organizing member each re-
| ceiving a pension of SOS a month.
Contribution of $4,000 was made In
the year to tubercular soldiers in Ari-
IONA, Colorado and New Mexico.
The Philippine scholarship has beer
! increased SO the societys ward may
have living and not have to augment
her income.
A contribution of $3.50 was made tt
| the Washington House on High street
| at the Sesquicentennial in Philadel-
phia, and $13,500 paid on account Of
| the D. A. r. monument erected at Q
cost of $21, 900.
Expenditures In connection with Me-
mortal Continental Hall were itemize6
as follows: Renovation, $11, 1884; re-
| pairs. Administration Building. $4,-
27015: work on north and south porti-
cos, $14, 784.
Pay Roll Increase Cited.
Asserting that the expense Of han
ding the business increases with the
/ ,r,orLy ~ fhn e0cintv Mrs Viva y,t rpnnrf.