ALPHA 5 MINUTES OF 2,250.00 Initiation fees commented upon and likewise the (net) 1,051.50 item of postage. Brother Levere ex- a great deal of mental wear and tear, 750.00 Endowment In- as well as physical energy. The last THE SUPREME plained that the expenditure of $212.18 come 740.31 six months have been hard financial had practically nothing to do with let- 1,875.00 Record Life In- months. ter postage, because of the supplies COUNCIL MEETING come 2,061.58 The E. S. R. then went into con- of stamped envelopes bought last 3,000.00 Annual dues siderable detail as to the manner in April, which were still in use. This @ $3.00 1,501.00 which the great volume of work is item of $212.18 represents, for the 250.00 Yearly Record & handled through the office and ex- Morning Session, January 14 Phi Alpha most part, registered matter and par- 251.33 cels post. Commenting upon the con plained how it had been necessary Judge Arthur J. Tuttle, Eminent 2,000.00 Jewelry & novel- for the Grand Treasurer to drop finan- servative amount spent for printing, Supreme Archon, called the Supreme ties 3,027.13 cial work many times to assist with he called attention to the desire of Council to order at 9 a. m. in the Cen- 150.00 Alumni Association the magazines or Endowment fund tral Offices of the Fraternity at Ev- Dues the-office not to spend up to the ap 148.00 work which required urgent action. propriation in any case, but to cut anston. The Grand Treasurer, James Fines 113.50 He said that he considered the Grand the amounts in half if possible. If E. Chapman, was also present and Interest 52.52 Treasurer a valuable officer of the the appropriation is exceeded it is acted as Secretary. fraternity and a hard, consistent, able The E. S. A. said that the first order $19,552.62. Total because of value received. The very $17,535.24 worker. He closed his report by small amount shown as expended for of business was the semi-annual re- predicting that we would go into the Brother Levere t'en presented the Endowment Fund canvas does not port of the E. S. R. to the Supreme convention next December with all budget of disbursements with the mean that not more than that has Council. difficulties cleared up. He advised amounts actually expended shown op- been spent, but that a great deal of This report was presented by Broth- posite each item of expenditure: Endowment Fund matter has ar continuing with the same budget as has been effective since last July and er William C. Levere,- S. R. He EXPENDITURES peared in magazines, without especial said: "One year has passed since the charge to the appropriation. promised that expenses would be kept inauguration of the Centralization Estimate down as usual. Actual Plan and the founding of the National of July The other items of expense were The financial situation of the frater- Outlay Endowment. These were really two Fixed: each discussed one by one, and the nity was then before the meeting for small amount for telegrams was ex- separate measures but at the same discussion and statements of receipts $ 2,067.50 Due Record Life plained by the policy of not using the and disbursements for the first half time, they came to the National Con- Fund vention so interwoven that the frater- $ 2 271.75 wire where a letter would possibly year and second half year, and total 1,118.00 Due Convention nity has thought of them as mutual in- do. In regard to the item of equip- of the year 1921, were handed to the Fund cidents in the progress of our order. 1,117.66 ment for which $146.50 was ex- members of the Council. 1,742.50 Bills due The Centralization Plan as adopted 1,829.49 pended, Brother Levere explained Brother Kimball opened the discus- 375.00 Board of Trustees by the Convention was a step into an 477.03 that this consisted of the small hand sion by remarking that he could not 300.00 Shingles 635.98 addressograph and a letter cabinet for agree with the statement that the cost untried future and that it was weight- 1,500.00 Badges 842.79 the most part. "I had an estimate of of putting the Endowment Plan into ed down with too great an expense and with other features that were ex- 375.00 E. S. A. Stenog- $1,200 for an addressograph, which effect had been authorized by the Con- perimental is true. But this could rapher 450.00 we could have used to good advan- vention and that the Central Office 100.00 S. C. Incidentals only be found out by trial and experi- 50.40 tage " he said, "but we could not af- could not do otherwise than to go ence. I often lapse into the vernacu- 300.00 S. C. Meeting 207.77 ford it. We got the small one be- ahead. 510.00 Rent lar in speaking of the plan of cen- 450.00 cause it saved us several hundred Judge Tuttle said if the E. S. R. 4,000.00 Salaries tralization as adopted by the frater- 4,000.00 dollars in our mailing expenses." came to the next convention and said Estimated: nity and say, "we bit off more than Brother Levere explained that on that he had not put the Endowment $ 86.75 Clerical we could show." But whatever of ex- Help $ 86.75 January 3 a draft was sent to the plan into effect, it would have been 1,375.00 pense, of effort, of mistakes were made Appropriation for Board of Trustees for $5,000. That wrong. We had to get the machinery in venturing into this unchartered Clerical Help 1,370.25 left $3,175.48 on hand. We had then going, and we had to get the income 2,000.00 Record sea, are only details of a big plan, 2,018.39 to consider the Convention Fund. I to make it go. To begin with it 200.00 which even its originators surmised. Phi Alpha 171.16 said to the Grand Treasurer, "Set it could not provide its own power in 450.00 Lion's Paw As far as the general idea of bringing 283.05 aside in the usual way for the con- the shape of income from chapter 500.00 Visitation the work of the fraternity altogether 250.00 vention," and this left a balance of national dues and National Endow- under one roof, the good sense of it 500.00 Postage 212.18 $140.07. ment fund investments. is obvious. A man would not have to 250.00 Printing 102.10 300.00 Endowment Fund The question would have come up Brother Hobbs: It was a good have a very large business experience at the last July meeting, with only record to have cut expenses to fit the to appreciate that. It took the early Canvas 42.36 $140.07 in the treasury. "How are income, so let's forget that first six 132.00 months of our experiment for us to General Expenses 134.27 you going to pay the bills?" but the months and plan for the future. learn what we could and what we 125.00 Office Supplies 164.20 situation is different now for there Judge Tuttle: I agree that in the could not do. United with the effort 100.00 Telephone & Light 66.98 are no bills to pay, and we have col- face of the national depression the to establish Centralization was the 37.50 Janitor 30.00 37.50 lected since January 1 over $2,000. result had been remarkable and that launching of the Endowment. The Bonds 00.00 National Convention had adopted the 50.00 Telegrams Some of this is Record money and it has been a wonderful feat to have 19.33 some Endowment Fund money; but made the ship go at all. plan for the Endowment of the fra- Equipment 146.50 we have enough for current expenses. Following a recess, Mr. Henry, rep- ternity and had instructed us to raise Remember that this last six months resentative of the L. G. Balfour Com- the funds for it, but had not appro- $18,531.75 Total $17,430.39 had a three months hole in it. There pany, at Indianapolis, was introduced priated a single penny to announce, It was explained by the E. S. R. was no college open in July, August and discussed the jewelry sales situa- advertise and start it. The propagan- that the amount to be paid to the and most of September, and no in- tion and the matter of royalties. One da for the Endowment involving large quantities of printing, increased Record life subscription fund was come except what we created. phase of the situation he particularly clerical aid, large postage bills, was budgeted as $2,067.50, and he called On recent visitation Brother Levere emphasized was that the men of the attention to the fact that the amount said: "I have been what I have never active chapters should patronize Bal- to be carried through and "bricks really paid was $2,271.75. The esti- been before. Instead of going to the four's representatives and not allow were to be made without straw." The mated amount of bills due on July 2 chapters on a visitation trip, to in- salesmen of other jewelry firms in Convention was taken at its word. With the Eminent Supreme Archon was $1,742.50 but it developed the spire them, to examine their ac- their houses. The belief was ex- amount was $1,829.49, which had been counts and attend to various con- pressed that as soon as the men thor- always encouraging, always under- paid. It was estimated that $375.00 structive items, I have become a oughly understood that 20 per cent standing and always helping, we went was to be paid to the Board of Trus- fraternity peddler. I have carried royalty is paid to the National Frater- through six months of initiatory work. Six months ago the report of that tees. The actual payment of $477.03 jewelry, post cards, paper weights and nity on each sale of Balfour jewelry work was given you. We had estab- covers a period of nine months in- other S. A. E. articles and have sold they would patronize Balfour's men lished Centralization and had launched stead of six. We were to expend these to the men because we had to rather than the unofficial firms. $300 for shingles. The amount we create income. The books will show The next matter discussed was that Endowment. The first had com- paid was $635.98, but in order to get that the income from initiation fees menced to show its efficiency its of Board of Trustees. The expense economy, the second had made its a quantity price we bought enough and dues for all the year amounted account was analyzed and as a result for about three years, and have a to considerably more in the first six of the discussion modification of the first appeals and was started. But large stock on hand. We counted on months than in the second six months. there had been an expenditure, neces- present plan was suggested to have sarily made if the dictum of the Con- spending $1,500.00 for badges and had March 15 dues are always more than the actual work done by a trust com- vention was to be carried out, that spent $842.79. The estimate for the November 15 dues, so the outlook is pany with the Board of Trustees act- E. S. A.'s stenographer was $300.00 better even though we have finished burdened the fraternity beyond expec- ing in an advisory capacity. Brother and we paid her $450.00, but this rep- six months with cash practically noth- tation. New budgets were devised Hobbs was appointed on motion of resents nine months. The Supreme ing as compared to beginning with which took care of expenditures and Brother Kimball to act as a commit- Council incidentals and the expense approximately $3,000. burdens. The budget made for a year tee of one to investigate the approxi- was in its essentials intended for of the meeting in July were both kept "I have been faithful to the budget mate expense under such a plan and eighteen months. We planned for below the amounts estimated. On as any person could be, which is report back to the Supreme Council careful economy and cut every esti- the item of rent, Room No. 6 was shown by the large number of items at the next meeting, considering not mate. We thought we were careful sub-rented, so our actual expense for kept below the budget, so I will keep only the cost, but the advisability and in our estimate of income. We ran rent was $450. The appropriation on with that same policy of keeping manner of handling these funds for clerical help was $1,375, and we below the budget for the next six short of our estimate by $2,000. Let through a trust company. me present the income as estimated actually expended $1,370.25 which is months. Some of the estimates we have paid were the outgrowths of the The question of the office equip- and as it actually has been for the slightly less than the appropriation. The Record appropriation was $2,000, expenses of the first six months and ment having been purchased without six months: and the actual expenditure $2,018.39. will not bother us again. In New York an appropriation, namely the ad- they have every penny that we said dressograph and letter cabinet which INCOME But the extra expenditure will be Estimate wiped out very soon for I am offering last July they should have. We have cost $146.50, was also raised by Brother Actual credited at the bank, as our audit Kimball, but was not substantiated of July Income the cuts to the chapters at half price. shows, every penny of the Convention when Brother Levere called attention $ 3,877.62 Cash The fact that the Phi Alpha, Lion's $ 3,877.62 Fund that should be there now, ac- to the decision of July 2 that money 5,400.00 Dues (net) Paw and Visitation expenses were all below the estimated amounts, was cording to our plans. All this has saved on one item of expense could 4,701.75 been accomplished at the expense of be used for some other item. The fig- ures were then considered of amounts