Adjourned at 9.30 P. M. to meet Thursday morning at nine A. M.
Thursday Morning Session.
Rev. D. O. Mears conducted a prayer-meeting at 8.15 A. M. President Tobey called the Association to order at 9.15 A. M. Prayer was offered by Rev. William Mellen.
Rev. Davis Foster read the report of the committee on the paper presented by Rev. Stacy Fowler.
Rev. Daniel T. Fiske, D. D., read the report of the committee on the paper presented by Secretary Strieby.
Hon. Edmund D. Sawyer gave the report of the committee on Finance as follows:
The Committee appointed to consider and examine the Financial statement of the American Missionary Association, covering the receipts and expenditures for the year ending September 30th, 1878, respectfully submit the following Report:
The receipts from all sources have been $195,601.65, or about thirteen thousand dollars less than for the preceding year. The expenses, including amounts paid for church and educational work, publications, cost of collecting funds and cost of administration, have been $167,728.23. There is due the Tillotson Normal and Collegiate Institute $2,446.31, and there has been paid towards cancelling the debt $25,427.11. Of the amount paid upon the debt, the sum of $17,904.92 was contributed directly for the purpose, and $7,522.19 has been saved from the income of the year. Your Committee are happy to testify, that the administration of the affairs of the Association appears to have been conducted with wisdom, ability and faithfulness. While the work for the year has not been curtailed, the receipts have been less. Yet from them quite a sum has been saved towards cancelling the indebtedness. It is greatly to be regretted, that the receipts during the year have not been sufficient to pay in full the debt, as there still remains unpaid, and unprovided for, the sum of $30,439.79. Certainly it would seem that our churches could easily contribute this sum, which, if done, would give your Executive Committee new courage to plan for the extension of work now so well established and wisely conducted.
Your Committee would suggest that an effort be made to extend the paying circulation of the monthly publication, the “American Missionary,” which is now so attractive and desirable, communicating as it does, information relating to the operations and needs of the Association, and the progress made in the different fields of its occupation. The administrative expenses seem to us small, compared with the magnitude and importance of the work accomplished, giving evidence that this department is conducted with great economy, and most conscientious fidelity.