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Board Rooms, Feb. 8,1928.
The Board met at 11 A.M. , Wednesday, Feb. 8th.
President Gaines was in the chair.
The following were present:
President R.E. Gaines, Miss Alta Foster, Mrs. Carrie
W. Moore, Mrs. J.P. Thomas, J.W.Storer, R. Aubrey Williams, -f»
S.B. Cousins, G.T. Waite, Hill Montague ,. L. Howard Jenkins, W.G.
Mahone, W.Thorburn Clark, S.B.Woodf in.^llso~Sti7te-lternbei*s: -
W. Harrison Williams, H.M.JFugate , and Secretaries Love and Ray,
Treasurer Buxton..
brother Fugate led in prayer.
In the absence of the Recording Secretary, Brother
Woodfin was asked to act as Secretary.
Treasurer Buxton submitted the follov/ing report:
Month of December 1927.
Balance in Banks, Nov. 30, 1927. . . . .
RECEIPTS —
Cooperative Program . 71,720.55
Designated Gifts . 25,524.34
Debt . 6,756.27
Annuities . 1,000.00
Income from Annuity Securities . 1,564.25
income from Endowment Securities.... 930.50
Income from Trust Funds . 1,005.00
Book Department — Sales and Collec¬
tions . 2,161.06
Miscellaneous . 118.33
Total —
70,737.21
110.780.30
ТЖГ5Т7751
DISBURSEMENTS—
foreign Yields . 88,274.03
Interest on Borrov/ed Money . 2,085.42
Interest on Annuities . 1,504.51-
Annuity Securities . 1,100.00
Notes. Payable . 25,000.00
Book Dept.- Purchases-1,370.14
Expenses- 828.89 2,199.03
All Other Purposes . 8,221.12
Balance in Banks December 31,1927..
128,384.11
”5S7K5T.’4'0'
CURRENT ASSETS AND LIABILITIES.
ASSETS—
balance in Banks . 53,133.40
Book Dept.- Acct, Receivable 1,165.38
Inventory 7,059.91
8,225.29
Appropriations: Expenses.... 254,283.46
Special Acct. -Geo. N. Sanders
74,813.07
Less: Reserve for loss
50,000.00 24,813.07
Stocks and Bonds . 2.300,00 342,755.22
Current Liabilities in Excess of Assets. . 1,153.352.74
1,496,107.96
LIABILITIES —
Notes Payable . 1,130,181.39
Designated Funds (not yet
Appropriated) . 46,862.46
Letters of Credit . 319,064.11 1.496.107.96
E.P. Buxton, Treasurer
