]
(Continued from page 1)
i of interest collected on student loans carried in the Sear-Roebuck and
Company Loan Fund are remitted to Sear-Roebuck and Company. It
would appear that the reserve for losses as at February 28, 1938, in
~ amount of $1,759.60 is inadequate and we suggest that the policy of
appropriating to the reserve the amounts of interest collections and
interest included in renewal ngtes be continued.
~ Very truly yours,
Lybrand, Ross Bos. & Montgomery.
\
ASSOCIATION OF FORMER STUDENTS
CAESAR HOHN ENDOWMENT FUND
SEARS-ROEBECK AND COMPANY LOAN FUND
SUNDRY LOAN FUNDS
McFARLIN MEMORIAL STUDENT LOAN FUND
COMBINED BALANCE SHEET at as February 28, 1938
: ASSETS:
Association of Former Students:
Cash in banks and on hand......................0.0.. $ 4571.57
Cash in banks at end of fiscal year............ccooeeeeeen. IE WEE,
“Excess of cash receipts over cash disbursements.
COMBINED LOAN FUNDS
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
fiscal year ended
Cash receipts:
Intérest on student-loans. ............ loi 0 a dadunl
Interest on notes transferred to Sundry Loan Funds (contra)........
Interest on Investments... olin dr i a it
Collections for account of J. R. Astin Loan Fund (contra)...
Service fee collected from J. R. Astin Loan Fund (contra)...
$1,000 of municipal bonds called for redemption...
Funds received for account of students... WE 1, AR SEN
Cash disbursements:
Interest on notes transferred to Sundry Loan Funds (contra)...
Accrued interest on bonds purchased... ALE RA
Fees of custodian of securities... lau fib Bm a
Credit reports and collection. expenses... CS Lian
Returned checks (DEY i. i i te cenatunal  A
Maintenance and repairs on project house...
Administration charged by Association of Former Students..............
Withdrawals on "Sundry Loan Funds........... «000 8 = hve r=
Remittances to Sear-Roebuck and Company...
Student: loans... on wr Sh SMALE Se a TOR
Notes transferred to Sundry Loan Funds (contra)...
$50,000 of U. S. Treasury bonds purchased (cost)...............................
$10,000 of municipal bonds purchased... PEER WE Sai.
Additions to student project house... .......... i Ser nh
J. R. Astin Loan Fund collections remitted (contra).........................
J. R. Astin Loan Rund service fee remitted to Association
of Former. Students (contra)... oi oad i te =
Payments on student credit balances... 0800 fat Lula
Excess of cash disbursements over cash receipts
during fiscal year... iid i Bh
Cash in banks at beginning of fiscal year...
$ 22,571.32
February 28, 1938
Sears-Roebuck
and Company
Combined Loan Fund
$ 2,096.09
281.62
5,618.42
848.50
1,188.00
38,760.25 °
435.50
3,646.18
12,830.00
18,390,57
183.72
1,000.00
1,022.04
$ 783.33
253.40
12,966.14
3,360.30
81,300.89 17,363.17
281.62
463.61
110.50
147.47
12.15
96.69
4,000.00
2,546.31
1,036.73
40,194.22
3,646.18
49,445.32
10,182.20
354.01
18,390.57
1,036.73
9,778.00
183.72
1,091.54
10,814.73
127,182.84
6,548.44) *
6,374.31
45,881.95 (
68,453.27
$12,922.75
Sundry McFarlin
Loan Memorial Student
Funds Loan Fund
$ 1,178.41 $ 134.35
— 28.22
330.50 5,287.92
rs - 848.50
1,188.00 rr
24,144.91 1,649.20
395.50 40.00
a 285.88
12,830.00 _—
13,390.57 —
183.72 —
— 1,000.00
1,022.04 —
54,663.65 9,274.07
281.62 —
353.12 110.49
— 110.50
147.47 re
12.15 —
— 96.69
— 4,000.00
2,546.31 —
28,805.20 1,611.02
3,646.18 —_—
49,445.32 —
— 10,182.20
— 354.01
» 13,390.57 —
183.72 —_—
1,091.54 —_
99,903.20 16,464.91
45,239.55 7,190.84
52,692.67 9,386.29
$ 7,453.12 $ 2,195.45
$5,000 Municipal bonds, at cost..................... 5,150.00
900 shares of capital stock of Campus
Activities, a wholly-owned subsidiary,
aticost (Note A). is ri ai 900.00
Note receivable from Campus
? Activities (Note A)... olin 9,795.98
Purnitureand fixtures. £0 nls 1,988.47
Account receivable, collected in March, 1938 10.00 $ 22,416.02
Caesar Hohn Endowment Fund:
Cash in banks... nvisinrtinsd 1,315.18
$7,000 United States Treasury
bonds, at cost il. i nn a 7,000.00
$7,000 Home Owners’ Loan Corporation
bonds, at cost. i a Li Sr ei 7,000.00
$1,500 Municipal Bonds, at cost................... 1,488.82
Note receivable from Campus Activities... 790.00 17,594.00
Sears-Roebuck and Company Loan Fund:
Cash intbanks...... 2. ..2. 00 RAEN 12,922.75
Student 1oans.. ii... ates inL ss pin dinn ss 12,077.25 25,000.00
Sundry Loan Funds:
Cashin banks. ci... i ih, 7,453.12
~ $50,000 United States Treasury
PONds, ial Cost. i. fs be Te singin 49,445.32
$300 Municipal bonds, at cost............. Tre egars 300.00
Student loans... i... Lan a SE 35,087.42 92,285.86
McFarlin Memorial Student Loan Fund:
Cashin banks. =i el NE a i 2,195.45
i $106,000 Municipal bonds, at cost.................. 107,973.01
Sdn JoaNS Lr A as 2,827.92
Student project house (rented) at cost........ 5,859.56 118,855.94
$276,151.82
LIABILITIES and RESERVES:
Caesar Hohn Endowment Fund:
Provision for contract payments
to’ subscribers.................oie Bienen nk $ 17,594.00
Sears-Roebuck and Company Loan Fund: :
~ Balance due to Sears-Roebuck and Company
(payable from interest collections) ...... 9,938.39
Sundry Loan Funds:
Students’ credit balance...................cccciee i $ 50.00
. ~ Balance in G. R. Miller Memorial Loan
TE rate Fund, subject to withdrawal by Mr.
FT eth Mller... oie eat Lol Sh 40.00 BNE
RAY eserve for losses on student loans... 1,109.49 1,199.49
McFarlin Memorial Student Loan Fund: :
3 Reserve for losses on student loans............ 650.11
Reserve for depreciation on student
projectihouse Uh). lL ARE nana ell 439.50 1,089.61
$F \ : 29,821.99
ha " EXCESS OF ASSETS OVER LIABILITIES and RESERVES:
: . Association of Former Students....................... . 22,416.02
- Sears-Roebuck and Company Loan Fund............ 15,061.11
Sundryedloan Funds. co... iif eeidirnsninisins 91,086.37
McFarlin Memorial Student Loan Fund............. 117,766.33 246,329.83
$276,151.82
ASSOCIATION OF FORMER STUDENTS
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
fiscal year ended February 28, 1938
Cash receipts:
CAESAR HOHN ENDOWMENT FUND
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
fiscal year ended February 28, 1938
Cash receipts:
Interest on investments..................................._.. $ 529.50
Interest on note receivable from
Campus Activities
First mortgage real estate loans collected........
45.80
* 1,300.00
1,875.30
Cash disbursements:
Fees of custodian of securities............................ $ 15.30
Accrued interest on municipal bonds purchased
$1,500 of municipal bonds purchased (cost)...... 1,488.82
Transferred to Association of Former Students 548.23 | 2,064.12
4 ) 4
Excess of cash disbursements over
188.82
1,504.00
$1,315.18
The largest graduating class in
the history of Texas A. & M. will
receive degrees at this coming
Commencement, June 3-4. The Class
has distinguished itself in other
ways than through size and the
AGGIE extends to every member
of the group the congratulations
and good wishes of the thousands
of A. & M. men who have gone be-
fore them.
Let the matter not rest there.
The AGGIE suggests that A. & M.
men personally extend their con-
gratulation to these young men;
that they be given a “Big Hand”
upon the successful completion of
their college work. And speaking
of “Hands”, let’s give them a ma-
terial “Hand”, in the form of as-
sisting them to get started in
GIVE THEM A BIG HAND:
whatever their chosen field may be,
and wherever they may land af-
ter graduation.
A word of encouragement, a
helping hand and a bit of assistance
when needed, will go a long way
toward making the hard road ahead
a little easier, more pleasant and
more prosperous for the men of
38. Give them a “big hand” lit-
erally as well as figuratively.
The El Campo Rice Milling Com-
pany, manufacturers of the Elco
line of feeds, is offering the service
of Mr. J. H. Sandlin, ’29, feed ex-
pert, to the people along the Texas
Gulf Coast. Mr. Sandlin has had
many years of practical experience
in the feeding and care of poultry
and live stock. Mr. Sandlin gets
his mail at Box 265, El Campo,
Texas. : :
THE TEXAS AGGIE
Published Semi-Monthly at the A. & M.
Press, College Station, Texas, except dur-
ing the summer months when issued
monthly, by the Association of Former
Students of the Agricultural and Mechan-
ical College of Texas, College Station,
Texas.
F. D.. Perkins, 97.0 iio 2%... President
C.-L. Babcock, ’18....cc.c.ide. Vice President
E. E. McQuillen, ’20.. Executive Secretary
L. B. Locke, '18........... Assistant Secretary
Subscription Price $5.00
Entered as Second Class Matter at
College Station, Texas
STUDENT LOAN FUND TRUSTEES
F. D. Perkins, ’97 McKinney
A. F. Mitchell,~?09............................ Corsieana
E. E. McQuillen, ’20........... College Station
REPRESENTATIVES ON ATHLETIC
COUNCIL
} Tyree L. Bell, "13 Dallas
A. G. Pfaff, 27 Tyler
JOHN ASHTON’S STORY
issue of LIB-
’06, Asso-
In the May 7th
ERTY, John Ashton,
ciate Professor
Journalism at Texas A. & M., tells
a brief but stirring story of the
Student Cooperative Housing Pro-
ject at Aggieland, under the head-
ing, “HAUNTED HOUSE MAKES
GOOD.”
Brought out in Ashton’s story
were the interesting facts that dur-
ing this school year 1,000 A. & M.
students in the cooperative houses
were living for an average cost of
$13.31 per month for board, room
rent and laundry; that the Bren-
ham Rotary Club and other inter-
ested Washington County citizens
had built a house for Washington
County boys, the only project of
its kind in the United States; and
that the entire plan started in a
“Haunted” house near the campus
a few years ago. No LA
Back of the whole development
stands Daniel Russell, head of the
Department of Rural Sociology at
A. & M. who originated the plan
in an effort to aid a few boys stay
the idea grow until it is now of
national interest.
Dues and AonationSa i... eu nais ist ras ionmresanaes $ 9,447.30
Advertising in Texas Aggie. .......cooiiirriiiininnnnann. 417.30
Administration of Student loan funds............. 4,000.00
Service fee—J. R. Astin Loan Fund................... 183.72
Receipts from Campus Activities,
a wholly-owned subsidiary:
SuPerviSorY “ee... ccc oii tds hos rite ipeeniisd $ 1,200.00
Er lt RE PONE I A A 757.50
DIVAAenIAS fo i mh ihre iv gts soning on seeenn 600.00 2,557.50
Transferred from Caesar Hohn
Endowment Rundi. ..o. oo a i hindi 548.23
Interest on municipal bonds ........................... 150.00
Miscellaneous: te ou fe J ty ha de tn inazs es 9.10
17,313.09
Cash disbursements:
Salaries atte i a se a 9,681.65
Traveling expenses tu... 3k. fii idamso iia: 1,612.56
Texas Aggie eXPenses..............c.ccuvsiussissssssssniagness 1,615.05
EE A SR RS A NAIA NT SAR OY 1,093.74
Stationery, printing and office supplies ............ 568.47
Telephone and telegraph .........cooioinecnnne. 223.20
> Insurance and fidelity bond premiums ............ 98.32
BUdIting. expense. «ii fui grsstiansins legis sang agrasne 197.80
Returned checks: (net) ....i.... osname. 48.25
Expenses of MECEINES ice i sat ning a inisn 172.49
Pay rolblaxés fi... unin (Jv Sak! PN 100.11
SUNAry: EXPENSES ......... 0 isis fer itBeiidnitiguig sir sabyrind 138.99
Accrued interest on municipal bonds purchased 104.17
15,654.80
$5,000 of municipal bonds purchased (cost) .... 5,150.00 .
Investment in capital stock of Campus
Activities, a wholly-owned subsidiary
(cost)... ns OCA. 30 RC 900.00
Payment of students’ credit balance ................. 85.00
Courtesy advance, collected in March, 1938 ...... 10.00 21,799.80
Excess of cash disbursements over cash
receipts during fiscal year ................... 4,486.71
Cash in banks and on hand at
beginning of fiscal year:
Association of Former Students ....................... 3,201.75
Campus Cleaners and Tailors ..........cccoeeiiiieeeeeee 5,856.63 = 9,058.28
Cash in banks and on hand at end of fiscal year... $ 4,571.57
“=
When you're out for pleasure
. ..and tie up to Chester-
fields. ..you find a cigarette
that has refreshing mildness
... a taste that smokers like
...a more pleasing aroma.
Mild ripe tobaccos—home-
grown and aromatic Turkish
—and pure cigarette paper—
the best ingredients a ciga-
rette can have . . . that’s
why Chesterfields give
you more pleasure.
Radio Highlights
GRACE MOORE
ANDREKOSTELANETZ
PAUL WHITEMAN
DEEMS TAYLOR
PAUL DOUGLAS
hestertielc
...you'll ind MORE PLEASURE in
Chesterfield’s milder better taste
Copyright 1938, LIGGETT & MYERs ToBacco Co.
E. E. McQuillen............_.. Publisher -
Directors
H. K. Deason, ’16.................c...... Port Arthur
Charles L. Babcock, ’18.................. Beaumont.
A. G. Pfaff, 27 Tyler
F. D. Perkins, '97 McKinney
J. B. Crockett, 09 Dallas
OA. "Seward, -Jr., 0T1.....coiii. Groesbeck
J. ¥. Butler, ’'12 Huntsville
Graham G. Hall, ’13 Houston
T. M. Smith, Sr., East Columbia
Charles K.’ Leighton, ’32................. ustin
P. XL. Downs, Jr., 2000s... ccs sscecbuetn Temple
F.C Dykes; 221... sinning Fort Worth
C. H. McDowell Iowa Park
&' EB Hinman,:'25...........03:1.. Corpus Christi
H. B. “Pat” Zachry, ’22 Laredo
R. S. Reading, ’10 El Paso
G. Dudley Everett, '15......... NEARY Sephenville
G. C. McSwain, ‘20 Amarillo
BE. V. Spence; ll. ii iii Big Spring
EK. BE. Aldridge, 16........................ San Antonio
Penrose B. Metcalfe, ’16............ San Angelo
E.R. Eudaly, '10.....cccccoinend College Station
C. A. Thanheiser, ’01.............cifin sia Houston
A. P. Rollins, '06 Dallas
R.A, Birk, 18i..coioliali an Wichita Falls
EXECUTIVE COMMITTEE
F. D. Perkins, ’97 McKinney
C. Li. Thanheiser, .01.....ciccoiuisinnnes Houston
E.R. Budaly, ’10..........c.c.:.i} College Station
Oscar A. Seward, Jr., '07......... Groesbeck
in Agricultural
at A. & M., and who has since seen