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About The Texas Aggie. (College Station, Tex.) 1921-current | View Entire Issue (April 15, 1932)
AUDITING COMMITTEE SCANS ANNUAL FINANCIAL REPORT REPORT OF AUDITING COMMITTEE We, the members of your Auditing Committee, have met this tenth day of April, 1932, have examined carefully the report of audit made by A. B. Granger, of Bryan, Texas, for the fiscal year ending February 29, 1932, and same meets with our unanimous approval. The outsanding features brought out by this report are: First, that the operating expenses were reduced considerably due to reduced personnel and to voluntary reduction made in the compensation paid to Mr. E. E. McQuillen. In spite of a material decline of receipts, this reduction in operating expenses resulted in a better showing than the previous year. Second, that collection of pledges, and dues showed about a 30 per cent decrease compared to last year and if this decrease continues throughout the next year, the Association will find itself in difficulties. Third, that collection on student loan notes is good, considering de- pressed financial conditions of the country. After due consideration we have the following recommendations to make: 1. That being aware of the fact that only about 10 per cent of the ex-students of the A. and M. College are supporting the Association, it behooves the directors to make a determined and effective effort to in- crease our membership. As a suggested plan we would submit the follow- ing ways and means; Establish a Junior Membership for graduates, making annual dues for same $2.50 per year for three years after graduation or leaving school. ~ 2. Arouse interest among ex-students by offering a prize for new paid in senior memberships. A new member includes one where he is over two years delinquent. For the obtaining of - five new senior memberships, exclusive of self, sent in, the Association will give a ticket to the A. and M.-Texas Game. This contest to close October 1, 1932. We further recommend that the Secretary be directed to take out property damage and personal liability insurance on car belonging to the Association and operated by the Cleaning and Pressing Shop. Respectfully submitted: Chas. R. Haile ’12, Chairman, Burt E. Hull ’04, Geo. E. Ehlinger ’12, T. W. Mohle ’19, G. W. Ashford ’12, Bryan, Texas, April 6, 1932. Mr. J. B. Thomas, President, Association of Former Students, College Station, Texas. Dear Sir: I have made an audit of the Cash Receipts and Disbursements of the Association of Former Students of the Agricultural and Mechanical College of Texas, the Loan Funds administered by it, and the Texas A. and M. Endowment Fund for the Period from March 1, 1931 to February 29, 1932. This report also includes a statement from the Campus Cleaners and Tail- ors which is owned and operated by the Association. RECEIPTS AND DISBURSEMENTS ASSOCIATION OF FORMER STUDENTS March 1, 1931 to February 29, 1932 CASH BALANCE MARCH 1, 1931 . asciisrrsvnmvacassnnvrvrens $157.69 Receipts: Collections: on Pledges. oo cnn rnsvorse sais res on $ 1,200.10 Dues: and: : Donations & 5s cis ss nrssises risa ess vrs 6,497.00 Cash withdrawn from Campus Cleaners and Tailors 2,100.00 Interest transferred from Endowment Fund ...... 1,384.10 Aggie Advertising . «... vss svns canis sservasiive 608.92 Sale of Ford Car to Campus Cleaners and Tailors 252.30 : Checks Re-deposited for Collection .............. 52.50 Collection of Temporary Loan .........c.00cvetes 10.00 Root HAI TICREESE ‘oicteie wietogens eles is saline tetaliotatolly stole s s,s 102.00 Credits to Sundry and Office Expenses ........ 103.50 12,310.42 12,468.11 Disbursements: ln I A ri SIR i by Sr at RE TT 7,670.00 Expense—Texas Aggie .........ccciiiivernnennn, 1,800.43 Office SUPPHES . . ott. ca vrimssrssdssivssnssinrnesesy 184.78 Sundry EXDEnSe. oi. cravat onsss vosws s suse sha’ ovine 139.31 Traveling EXpense ......covsvseasssresisresnsvas 265.45 Postage and Envelopes ..........c.ccocviiuiennnnn. 421.00 ELECT INTIGIVE TS ein. = lekstoint shag iuaisio oes iepel sfsbeReiled ol susie fore te 41.07 Telephone and Telegraph ...................... 79.17 Insurance and Bonds i. .... cir cahvressstseesnney 31.73 ANGIE EXPENSE. 0s oh safaris eos sommin s sits oli + Sule 100.00 Desi and DONALIONS" (ieirtsisieis stelle s Tole! sisiats iofakekers lojeintone 9.00 Cost in connection with McFarlin Farm Gift prior to closing of the Transaction ................ 238.70 Returned Checks Charged Back .................. 77.50 Wemporary.: LOanSs «©. wee aeinis sion oid 2s 4 isin aie a woieieis 10.00 Football TTICRELE" .'.. \ 1's cae elev vain seins Livin vive sielyiole 105.40 11,173.54 CASH BALANCE FEBRUARY 29, 1032 i... deusoualofis daunees $1,294.57 BALANCE SHEET—LOAN FUNDS February 29, 1932 ASSETS EL REE StS ek a Lon BR AR 1,246.92 IN OL EE LC CCIVADIE Lah oe tete als ehale els 's all she sauts thls he Fosbsiioriehor wine fois wo 0i s nis 4a 65,111.66 Accounts Receivable—Temporary ......c.ceeeeeeeevssacssssase 15.00 £07 Ee IN A BN Cn RR re TL 66,373.58 LIABILITIES AND SURPLUS Liabilities: Loan due Sears-Roebuck Company .............. 17,664.29 Temporary Advances from Endowment Fund 600.00 18,264.29 Surplus: ET a a A A oO RL 35,320.94 Interest «Collected =. .il sini sroinaine «siege shu oleie v o's ales + oi s74 12,788.35 48,109.29 Ota i he oT asia utes NTN re Wns e 4h ju a3eve. collage ATR 6 EI wk wins nk 66,373.58 CONSOLIDATED RECEIPTS AND DISBURSEMENTS STATEMENT ALL LOAN FUNDS March 1, 1931 to February 29, 1932 BANK BALANCE MARCH 1, 1931 1,769.67 Receipts: Sears-Rochuck S1.0an" TUNA: ities sais cr + tein vies Hate 22,495.94 General Foon Bund ear. ti oie cn Te or cert ithe won 5,247.00 G. R. Miller--Memorial Loan Fund *...... 5. 6... 5,655.38 Stone and Webster Loan Fund Say TE ede Lg 1,057.55 College-Bryan A. & M. Mothers’ Club Loan Fund 233.15 Campus Study Club Loan Fund ................ 722.40 Casey and Sparks Loan Fund .................... 177.75 YT. A. Cerftlhoan Bund .:.... tutes 25 ssssagsrsss 869.54 Dallas A. & M. Mothers’ Club Loan Fund ........ 2,594.13 Ft. Worth A. & M. Mothers’ Club Loan Fund .... 444.40 George Kerr Loan Fund ..................00nnn 495.47 BE. J. Kiest oan Fund see svt deslssssstes ess 974.10 Julius Nussbaum Loan Fund .................... 265.76 Ross Volunteer Loan "Pandl.ht ced... ve vss siamese 103.05 San Antonio A. & M. Mothers’ Club Loan Fund .... 1,225.23 Beulah Templeman Loan Fund ................ 150.52 Waco A. & M. Club Loan Fund ................ 1,888.12 San Angelo A. & M. Mothers’ Club Loan Fund .... 1,576.40 Rio Grande Valley A. & M. Club Loan Fund ...... 96.25 S.'D. Snyder Loan Fund ....c.ecsersacrsnesssvnsns None Waco A. & M. Mothers’ Club Loan Fund .......... 374.46 Johnson County A. & M. Mothers’ Club Loan Fund.. 84.00 John Henry Kirby Loan Fund .................. 149.55 Classi of 1930 Loan Funds. or teem ei sfs's tsuneo 0 507.42 Houston A. and M. Mothers’ Club Loan Fund .... 548.27 Wm. Scott Chapter D. A. R. Loan Fund .......... 280.85 Richard Benbury Saunders Fraps Mem. Loan Fund 137.50 Port Arthur A. and M. Club Loan Fund .......... 200.00 Class of. 1922 5 Toan, Pundit oh. vith Te ieiriacs ens s 1,015.60 Central and Southwest Utilities Company Loan Fund 2,268.44 Nat'l. Oil Mill Supts.” Ass'n. Loan Fund ........ 616.41 Class of 21926 Loan "Band arnt A esas seer vo on 506.00 52,860.64 54,630.31 Disbursements: Sears-Roecbuck ‘Loan Fund’ =". 0.050 Fall ove vvieis sore ee 22,375.55 General Loan” Fund 2. 5. a certs tats Salels «i cco ionsis sis o oie » 5,081.93 G. R. Miller Memorial loan Fund ................ 5,785.85 Stone and Webster Loan Fund ................ 1,184.90 College-Bryan A. & M. Mothers’ Club Loan Fund 265.95 Campus Study Club Loan Fund .................. 732.65 Casey and Sparks Loan Fund .................... 181.35 TiiA Cerf loan tBund i. ilies ie sis 3 seis see we 940.80 Dallas A. & M. Mothers’ Club Loan Fund ........ 2,514.75 Ft. Worth A. & M. Mothers’ Club Loan Fund .... 446.00 George Kerr Loan Fund ...0l ves. cin rien eves ss 490.50 BE. tJ. i Kiest Loan Fund «. =. «0c ills sists wide vuole sxeia ne sie 1,000.00 Julius’ Nussbaum tlioan Fund Eatin. iss oviosisiisisie 255.00 Ross Volunteer Loan Fund Whee. ovecccassrons 100.00 San Antonio A. & M. Mothers’ Club Loan Fund.. 1,289.57 Beulah Templeman Loan Fund .................. 155.00 Waco''A.%and M.. Club. Loan: Band? .i.' ie «ceils sinais's 1,926.82 San Angelo A. & M. Mothers’ Club Loan Fund .... 1,747.10 Rio Grande Valley A. and M. Club Loan Fund .... 88.75 8. DD. Snyder Loan ‘Fund cus cvt sensor csv rrrinne None Waco A. and M. Mothers’ Club Loan Fund ........ 380.00 Johnson County A. & M. Mothers’ Club Loan Fund 80.00 John Henry Kirby Loan Fund ..........cc.000evus 160.00 Class of 1930" Loan Tund ite er fee le o chetleleleis +75 00 546.05 Houston A. and M. Mothers’ Club Loan Fund .... 491.00 Wm. Scott Chapter D. A. R. Loan Fund .......... 280.00 Richard Benbury Saunders Fraps Mem. Loan Fund 137.50 Port Arthur A. and M. Club Loan Fund .......... 210.00 Class of 1922 Loan Funds irr ias en oh i... 1,080.00 Central and Southwest Utilities Co. Loan Fund .... 2,351.37 Natl. Oil Mill Supts.” Ass'n. Loan Fund .......... 605.00 Class of "1926 Loan and. oh a leteiisrsiefet sh shersisjersis sts is 500.00 53,383.39 BANK BALANCE FEBRUARY 29, 1032 ......0covsnvnnsss 1,246.92 BALANCE SHEET TEXAS A. AND M. ENDOWMENT FUND February 29, 1932 ASSETS Cosh An Bank © 5 sav iv vette vie sain + soe ds slates vo oi'sie so Salado ov 664.80 Guardian Trust Company for Reinvestment ................ 1,500.00 IOV OSCR Be 50s + hears itis bos Stee Ba os 3 aie tars the drys ois’ sl aTolel io toliorcs + 15,400.00 Notes: BeceiVablel wis isi side ole s alo toiets 1s ie oles ehenetelotoraie sons oieialiohei + 790.00 Temporary Advances to other Funds .............. coven 600.00 TLOtal i. aaa i's oie SEAT Ses ov vow 928 sfiabn at sso 0s wooo nct nid oy 4 Sivialoly o's 18,954.80 LIABILITIES Reserve for Contract Payments . a. ei: « ciate els visio sivisia’s + sialeis sole 17,946.50 Interest Tare vr. cine vie in hone 5 Ci RO HaNs ols s coieBol axsbeitels tos’ sie Tu in) ger siafors + 1,008.30 TROL iv she lei + ag te ow Fhe & 4.00) = ws rie 1g ia ‘ars Js ishytene wise. osTelese ied srosonsliote sn 18,954.80 BALANCE SHEET CAMPUS CLEANERS AND TAILORS March 1, 1931 to February 29, 1932 ASSETS Cas ce ER TB dis Se SRT ea i Sus maie's shee ls alee + 810 11.19 Notes Receivable. tlds. Jo Sa Jk ieters ois a iatelsinictor etataisistsloa tele fons. s 100.00 CoOAWAIIRL Lio ¥ he BIBER. B00 Jali a vu Sav sis wale a's Wate elu oia'eliots gists a a 1,000.00 Furniture, Fixtures and Equipment .............. 7,770.60 Less Reserve for Depreciation i... . i les sis selsisiolots 2,944.25 4,826.35 Rota] 3 PR RO a a mat aw issn S03 3a s Cals rani Gide winteleinisle sdtiatess 6,037.54 x LIABILITIES NOLES “Payable visas sass yum o vrs Fofue dos vwdvol Tuiess siainis o ois vos 790.00 Net Worth: SUIPIUS © lee ls eT A ah J SpE aie age da lea v's 4,262.90 3-1-31 to 2-29-32 ........ccie0nns Net Earnings Cash Receipts and Disbursements of the Association of Former Students, the Loan Fund and the Endowment Fund. I wish to express my appreciation of the courtesy shown and the co- operation extended to me by Mr. Locke and Mr. McQuillen during the course of the examination. Respectfully submitted, A. B. Granger. James A. Collins ’07, is vice-pres- ident of the Texas Bitulithic Com- pany, with offices in the Praetorian Building, Dallas. He was formerly vice-president of the El Paso Bit- ulithic Co., El Paso. N. P. “Steve” Stephenson ’30, is married and living is Decatur, Tex- as. He was recently re-elected for the third year as teacher of voca- tional agriculture in the Decatur high school. OurGuarantee The Guarantee of the World's Largest Store “Satisfaction or Your Money Back” written when it was—45 years ago— created a new era in advertising. It lifted selling from “barter and trade” with ‘let the buyer beware” to a new and higher plane. It is the most jealously guarded of all our assets. Sears Roebuck & Co. ® DODD DDDDDDDDDDDDDVDIDVDDDDVROVVPOVVC® OY FLOYD & LOCHRIDGE CONSULTING ENGINEERS J. F. LOCHRIDGE, ’'10 Mem. Am. Soc. C. LE. 2N 4 k 4 NNN, 0. N. FLOYD Mem. Am. Soc. C. E. Hydraulic Investigations, Water Supply, Irrigation, Flood Control, Drainage, Sewers and Power Development. 411-414 TOWER PETROLEUM BLDG.—DALLAS, TEXAS "Telephone 7-4402 S 0OPTOEOC DG HC OODEVODOOCODOOOVDOOIPOOOODODOOPOOOOSDOEw ® ® <% <% ® ® <% ® ® % @® @® @® @® @® ® ® @® ® @® @® a AAA 222A A A AAA AAAALALLLLOLL LA, VVVVVVVVVVVVVVVVVVVVVV Q a —Breathe again the Spirit of Aggieland— When at or near College Station By Stopping at THE AGGIELAND INN > On the Campus ’ Modern Conveniences Good Food For Reservations address the Aggieland Inn College Station, Texas 2 0.0.9.9.2.2.9 9.94. 0.0.0.0.9.9.0.0.0.9.9.990 0.09.99 09.9.9 C2 2¢ 0 2 Yt 2 MA Mt Mat MA Mt Dt Mt MAC MA MC MAC Mt MC MC MAE MC MAC Mt MAC MAC MAC MAC MAC MAC MAC Mt MAC MA MACY EB BS A I a a B AR FER A A A A ZT PB I IT | Wn. CAMERON & CO. ®. . mu @ 2 (INCORPORATED) @ = S = OUR IDEAL BUILT IN FURNITURE & ° 4 = WILL MODERNIZE YOUR HOME @ 2 : a s ATTRACTIVE - STEP SAVING a > s 2 @ > @ o a 2 @ ° > ° d : NINETY LUMBER STORES TO SERVE YOU s SS EES General Comments: I inspected all insurance policies on hand indicating the following cov- erage as of February 29, 1932: Insurance: Association of Former Students Fire-Furniture and Fixtures Campus Cleaners and Tailors © 5 0 06 060000680000 s ess sss Fire-Furniture and "BIiXtures .. . ore cd dss siv np sie e sn rsn's » 4,000.00 Fire-Customersi Clothing “oe. =. . fs veo 0 vs viajes sins omsie s vrata 1,000.00 Fire and ‘Theft-FordeDelvery ..... 0c. ce tn ssorsiens wns vos es 250.00 Fidelity Bonds: E. E. McQuillen, Secretary... .... dv. i905 sniveinn vio ureeems sii 5,000.00 L. B. Locke, Assistant “Secretory”... os cs cvvems dos vteyilin, 5,000.00 You are not carrying Public Liability and Property Damage on the Ford Delivery car, neither do you have insurance on the house occupied by Mr. E. E. McQuillen. Records: Your records were found to be in an excellent condition, with all de- tail work neatly and accurately performed. I examined to some extent the methods employed in regard to the collection of loans to students. It ap- pears that the management of the Association has been severely handicap- ped in this work due to the necessity of reducing the clerical force at a time when collections are the slowest and the work, therefore, the heaviest. 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