OF NEW YORK, 1912. Capital. $8,000 Chesapeake and Ohio Railroad Co.'s 42% $8,000 00 25,470 25 $8,000 Chicago and Western Indiana Railroad Co.'s 6% Gen- ..... $58,000 New York Central and Hudson River Railroad Co.'s 32% First Mortgage Gold Bonds, due 1997 (Registered) $16,500 Union Pacific Railroad Co.'s 4% First Mortgage Gold Bonds, due 1947 (Registered)... $57,000 Bonds and Mortgages on Improved City Property: Hochster, at 5%.. Wettereau, at 5%.. Adler & Herman, at 42%. Adler & Herman, at 41⁄2%.. $33,470 25 7,850 00 31,463 75 4,556 25 60,717 94 16,212 50 $6,000 00 6,000 00 24,000 00 15,000 00 57,000 00 3,213 42 $214,484 11 $2,025 00 $34,000 Chesapeake & Ohio Railroad Co.'s B'ds $1,530 00 $34,000 Cleveland, Cincinnati, Chicago & St. Louis R. R. Co.'s Bonds.. $5,000 Erie R. R. Co.'s Bonds 480 00 1,360 00 200 00 $11,921 49 2,625 00 Balance, October 31, 1912 to credit of the Episcopal Fund.... *$8,821 78 The Trustees further report that under the authority of a resolution adopted by the Convention at its last meeting, the Episcopal Resi dence, 7 Gramercy Park, has been sold for the sum of $115,000, of which there remains in their hands, to be applied to the erection of an Episcopal Residence on a site, part of the grounds of the Cathedral, upon terms securing the use of such site for such Residence as may be agreed upon between them and the Trustees of the Cathedral, $52,587 as per the following account thereof: DISBURSEMENTS. Balance, November 1, 1911, due New York Life Ins. & $98,680 93 Balance October 31, 1912, to credit of Residence Fund...... 52,587 00 $151,267 93 The Trustees further report that the terms of a contract between the Cathedral Trustees and these Trustees setting apart a site, part of the grounds of the Cathedral, for the erection of an Episcopal Residence, and granting a license for the use of such site for such purpose, have been agreed upon, but not yet formally executed. The Trustees further report that there has been paid to them through the Bishop the sum of $45,125, to be applied toward the erection of an Episcopal Residence, making with the $52,587, balance of proceeds of sale of the Episcopal Residence in Gramercy Park, $97,712 now in the hands of these Trustees applicable to the erection of a new Episcopal Residence. The Trustees further report that to provide a Residence for the Bishop until that to be erected on the site of the Cathedral has been built, they leased from Mr. Herman Ellis the premises, 33 Fifth Avenue, at a rent of $4,500 per annum, for a term commencing May 1, 1912, and ending May 1, 1915, the rent under this lease to commence August I, 1912. The Trustees therefore asked the adoption of the following resolution: II. Resolved, That the action of the Trustees of the Episcopal Fund in renting the premises, 33 Fifth Avenue, for a temporary Residence for the Bishop, for three years from May 1, 1912 at $4,500 a year, is approved. 4 The Trustees further ask the adoption of the following resolution: III. Resolved, That the Trustees of the Episcopal Fund are hereby authorized to proceed with the erection of the Episcopal Residence on a site provided for the same upon the Cathedral Grounds by the Trustees of the Cathedral and to contract for the erection of such Residence to the extent of the moneys now in their hands received from the sale of the previous Residence and of such other moneys as from time to time may be paid to them for the purpose. GEORGE MACCULLOCH MILLER, J. PIERPONT MORGAN. Mr. Miller moved the resolutions in the report. The first resolution was referred to the Committee on Diocesan Finances. The second and third resolutions were adopted. The Treasurer presented the following resolutions which were referred to the Committee on Diocesan Finances: The budgets for the coming year of the various Archdeaconries amount to $42,000, but inasmuch as the cash balance and other available funds amount to $4,000, the following resolution is presented: Resolved, That this Convention authorize an assessment of $38,000 for Diocesan Missions, to be applied to the budgets of the Archdeaconries of New York, Orange and Westchester, and that the matter be referred to the Committee on Diocesan Finances. Inasmuch as the Treasurer of the Diocesan Fund will require $12,000 to meet all obligations, extending from this date to the time when the next assessment would become available, and as the funds in hand are but $7,000, the Treasurer of the Diocesan Fund presents the following resolution: Resolved, That this Convention authorize an assessment of $5,000 for the Diocesan Fund, and that the matter be referred to the Committee on Diocesan Finances. The Treasurer of the Diocese presented the following reports: R. M. Pott, Tresaurer, in Account with the Diocese of New York. November 1, 1911, to balance.. $5,477 94 Acting under the direction of the Committee on Diocesan Finances, the Treasurer of the Diocese notified, before December 1, 1911, the corporate authorities of all the Parishes, Missions and Congregations in the Diocese of the assessments for the Episcopal Fund and Diocesan Missions, and also the amount apportioned for General Missions. On February 1, 1912, a complete table of assessments and apportionments as finally determined by the Board of Adjustment was distributed to all the corporate authorities. The amount thus finally determined for the assessment was $52,903.80, and for the apportionment $259,303. The Treasurer of the Diocese, therefore, submits the following financial report: R. M. Pott, Treasurer, in Account with the Diocese of New York. October 30, 1911, to balance... $3,035 58 |