The Cathedral's Finances Yo the Editor of the "Nonru-Cina, Day News"
Sin-—When reading your report of the Annual Meeting of Cathedral Subscribers held on April 15th. T was sorry to sce that no mention whatever was made regarding the remarks of the Senior 'Truslec, Sir Robert Calder Marshall, when moving the adoption of the Trustees' Report Accounts for the year 1940, in the course of what he had to say on the subject, Sir Robert regretfully drew attention to the defteit fof $24,950.19 on the year's working which had had to be added to the previously existing deficit. of $29,- 01095 appearing in' the 1990 account. Thus the year 1041 had begun with balance of §53.575.14 on the wrong. Side, quite apart from an overdraft at the Hongkong & Shanghai Bank amounting, to $14,392.83 appearing in the! Vestty's Accounts for 1040. "Sir Robert, also expressed the Trustees' concert regarding the difficulty now confronting them in the matter of obtaining -a sufficiency of income wherewith to meet the largely me creased expenditure which must unavoidably be incurred during the present year, He could not help fearing there'may be a considerable drop in the income to be derived the Vestry from subscriptions, don: tions and pew rents during i941 comparison with the total contributed during 1040, having regard to. the recent und' impending permanent departure from Shanghai of many Individuals who in. the past have contributed Uberally to Cathedral ile reference to a provision contained inthe 'Trust Deed drawn up about thirty-five yea whereby "benefactions" of A hundred taels (T's. $00) or upwards muy be shade to the Trustees by any individual caring to do 30, He thought there might possibly be' some presented ay Shanghai residents who might Tike to follow the example of the nine men whose names are, and wil be, recorded in the Cathedral's archives and annual reports for all time to come as having made benefactions to the Trust, as. follow:
H.BM. ConsulsGeneral (ex oftielo) Mrs Goo, De Courts s-sAle. Henry Levter Sir Chatios Dudgeon': 'Me HW. Pieler Air. FE, Helfer si, Ao, Hutton Porte Me We Suing, Geo Mis J te Scott Phe' Trustees would greatly' welcome additions to the Mist. and Sir Robert said Ht had been decided that, benefactions of C. N, $1,000 or more would quality the donor for inclusion therein, The suggestion. If acted upon, would help towards enabling the Trustees {o obtain some measure of relief from the financial worries. of the: present time which they now have to surmount, T might also mention the existence of a small body. of individuals 27 number, known as "Friends of Holy Trinity Cathedral," whose names appear inthe Report for 1940. All are former Shanghai residents and members of the Cathedral congroga: tion who either before or since taking their nat departure from China have made special donations fo the Vestry of varying amounts.
order permanently {o mark their appreciation of it the Cathedrat had meant to ther while they were here, Tt is to be hoped they ind "some followers among residents who may now be "contemplating early Airement from China 'At this stage. i may be useful to supply a short explanation in regard fo the income and functions of the 'Trustees' and. the Vestry's Accounts.
'The 'Trustees' account derives. its Income almost entirely "from the ial received from. St, Luke's Hospital for the use of the building Kiukiang Road formerly veeupled by the Cathedral School for Boys. and from. the rentals accruing from the tenants of th block of property behind the. Cathedral facing Honan Rowd. of the income is' rely. from the Shanghai Municipal Council in part.payment fur the trid in Hankow, Kianyse. and Klulelang Roads. surrendered to the Gouneit by the Cathedral a year oF (we axe for rond-widening purposes.
for which payment {x being spread over a period of years. AS Foyards expenditure, the Trustees are obligated to provide the Dean's stipend. medical fees, and to set aside his retiring allowance to the, extent of £100 per annum. In addi tion, the account. bears. the Munltipao rates and taxes on the whole of the property within the compound: with the Inerensed scale of taxation now in force this Hem has become most formidable consideration. Then are property repairs & renewals. Insuranee™ of the Cathedral andi Deanery, henting and lighting. sage reserves and other items. pay-went for which falls upon the 'The Vestry's income is, derived from' yearly subscriptions, donations. ordinary church offerings and. pew rents. The expenditure includes. all salaries or allowances made" to sistant clergy, as well as rental allowance made to one assistant
Text read from the printed page and cleaned; old type leaves the occasional error.