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Service was sold the previous year, as the book had been out of print for some time and congregational orders had accumulated.

We take the liberty of again bringing to your attention the question of allowing the usual 20% discount to congregations ordering less than five copies of a book at a time. We have referred to this matter in our reports of the past few years and each time presented reasons for asking that this discount be disallowed. We sincerely hope that the matter will be taken up again and with a favorable result.

Your accountant, Mr. Charles A. Klein, has examined our account and personally taken stock of publications on hand and we believe that you will find that his report agrees with ours in every detail.

We have again endeavored to render faithful and satisfactory service as your agents and it is with much pleasure that we acknowledge that our work has been made so agreeable by the uniform kindness and courtesy extended by you and your Committee and by the other officials of the Conference with whom our dealings bring us in contact. By mutual agreement our contract is made to expire on August 1. We sincerely hope that our past services have earned for us a continuance of the same for the coming year.

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(Above balance represents sales for May.)

The Union Prayer Book has been introduced in the following congre

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The report of the Committee on Investments was presented by the Treasurer, Rabbi Franklin.

REPORT OF THE COMMITTEE ON INVESTMENTS

To the President and Members of the Central Conference of American Rabbis:

GENTLEMEN: Your Committee on Investments begs leave to report as

follows:

The Conference has at the present time available resources of $38,128.50, of which $25,000 is invested in a New York Mortgage netting us 41⁄2%; $8,000 is divided into three Certificates of Deposit in two Detroit Trust Companies and nets us 4% per annum. $5,000 is at present on deposit in the Savings Department of the German-American Bank of Detroit and nets us 3%. The small balance of $128.50 is on Commercial Account in the same bank and is required for current expenses. The Treasurer estimates that $3,000 of the $5,000 now on deposit in the Savings Account can be transferred to the permanent Investment Fund. We suggest, therefore, that this amount be used for the purchase of another Certificate of Deposit netting 4% per annum, unless some very desirable, giltedged, first mortgage can be secured, either for this amount alone, or for this amount plus the $8,000 now invested in Certificates of Deposit, on which we are drawing 4%. It does not seem advisable that we should invest all of our funds in long term mortgages for large amounts, but rather that our investments should, if possible, be subdivided so that portions of the same shall fall due in successive years. It goes without saying that your Committee on Investments stands on the same ground as heretofore in rigidly opposing the investment of any Conference funds in industrial securities of any kind. Should giltedged, guaranteed mortgages be unavailable, then we recommend that funds be invested in Certificates of Deposit in reliable trust companies, even though the interest on the same be less than might be secured from less trustworthy sources.

All of which is respectfully submitted.

LEO M. FRANKLIN, Chairman.
MORRIS M. FEUERLICHT.

The report was referred to the Auditing Committee. The report of the Finance Committee was presented by the Chairman, Rabbi Kornfeld.

REPORT OF FINANCE COMMITTEE

To the President and Members of the Central Conference of American Rabbis:

GENTLEMEN: Your Finance Committee begs to report that during the past year your net income to the General Fund amounted to $2,542.48.

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The estimated expenditures for the year will be as follows:

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The cost of the Union Hymnal has not been included in this estimate. Naturally a new enterprise like this involves a very large initial expenditure. We, therefore, recommend that separate accounts be kept of the expenditures and income of the Union Hymnal until such time as it will be found that this is upon a paying basis.

It can be seen at a glance that the expenditures this year will considerably exceed the estimated income. This is due largely to the fact that this year we will be compelled to pay for the Yearbook of last year and for that of this year. In view of this fact your Committee recommends most urgently extreme economy in every respect.

All of which is respectfully submitted.

JOSEPH S. KORNFELD, Chairman.

JULIAN MORGENSTERN,

SOLOMON FOSTER.

The report was referred to the Executive Board.

Rabbi Morgenstern reported verbally for the Curators of Archives, that the archives of the Conference were deposited in the fireproof storage vault of the library of the Hebrew Union College in Cincinnati, and were in excellent condition. He called attention, however, to the fact that no complete file of the Conference yearbooks was to be found in the archives, and urged that the missing yearbooks be secured as soon as possible. The matter was referred to the Executive Board.

The report of the Committee on Arbitration was, in the absence of the Chairman, Rabbi Martin A. Meyer, read by the Corresponding Secretary.

REPORT OF THE COMMITTEE ON ARBITRATION

To the Officers and Members of the Central Conference of American Rabbis:

GENTLEMEN: As Chairman of the Committee on Arbitration it is my pleasure to report that no cases requiring any action on our part have been submitted to your Committee during the past year.

Thanking you for the honor conferred in this matter, and wishing the Conference God-speed in its meetings, I am,

Fraternally yours,

MARTIN A. MEYER, Chairman.

The report was received and adopted.

The report of the Committee on Cooperation with National Organizations was presented by the Chairman, Rabbi Gries. The Vice-President occupied the Chair.

REPORT OF THE COMMITTEE ON COOPERATION WITH NATIONAL ORGANIZATIONS

To the Central Conference of American Rabbis:

With the approval of the Executive Board, the Committee entitled "Cooperation in Emergencies" was changed to "Cooperation with National Organizations." The President and the Past Presidents of the Conference form the Committee as now constituted.

As Rabbis, natural representatives of Jews religiously, invested with leadership in our respective communities, we not only are willing, but desire to cooperate in the solution of all questions affecting the welfare, the rights and liberties of Jews, at home and abroad.

The Committee recommends the most careful consideration and earnest

endorsement of the views and plans for cooperation outlined in the Message of the President.

Respectfully submitted,

MAX HELLEB,

JOSEPH KRAUSKOPF,

DAVID PHILIPSON,

SAMUEL SCHULMAN,

JOSEPH SILVERMAN,

JOSEPH STOLZ,

MOSES J. GRIES, Chairman.

The report was received and the recommendation contained in it was referred to the Committee on President's Message.

The report of the Committee on Synagog Music was presented by the Chairman, Rabbi Harry H. Mayer.

REPORT OF THE COMMITTEE ON SYNAGOG MUSIC

To the Central Conference of American Rabbis:

BRETHREN: Your Committee on Synagog Music begs to report as

follows:

The plates for the new Union Hymnal are now being made. The contract for this work was awarded in May of this year to the W. H. Keyser Estate Co. of Philadelphia. At the same date the contract for the printing and binding was given to the J. F. Tapley Co. of New York City. The work is well under way and the book should be ready to go on the market in September, thus enabling the members of the Conference to introduce it in their congregations at the commencement of the season's activities.

The new Union Hymnal will differ greatly from all other hymnals. Attention is invited to the following characteristics that are especially important:

I. PLAN AND SCOPE

The new book follows the general plan and scope of our old Union Hymnal, however with the addition of many new and distinctive features. Only a few of the best word texts and tunes of the old book have been retained. The outstanding imperfections of the former Union Hymnal, which your present Chairman pointed out in his report before the St. Paul Convention, have been, he believes, successfully avoided. The requirements of a positive Jewish theology and the needs of the average Jewish school and congregation have conscientiously been borne in mind.

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