Digitized by the Internet Archive in 2013 http://archive.org/details/northcarolinabap1920nort • ai''4'iaS*'» jj~:' "-..-^ - ^ ■:--^'L'L ■" ■^^ ' , -L-.cLc£: Cc.,^„,, / ^rTi% ■->a.~'^'li \j' Li J i • ■unci's '■' A J ■-'■'■■'■ -— (Jl. -fi^'^CiS" ■--■ -' <^' 14.1 ', ^"4 .•-. k^-w4,'V'-? i «W r'-.'i i », -V ^Sf 'I <4^-^ *^ ^ ^ i 1j^ ^t-tT|i|T Ifi ftltt^ ■^Vk'i^t \ \ ,'^1 o \ I cr \ lo ^ '^ '^'- ' A/ 6. 7 oL.ff (i;hr S^'nrtb QJarnitna laptiat iFnmii^atmn (A Statement by the Foundation Committee) ^^:To the Baptists of North Carol'ina: HE Baptist State Convention of North Carolina at its last session in Raleigh in November, 1919, author- ized its president to name a committee of li\'e to be known as The North Carolina Baptist Foundation Commit- tee, the duties of which Committee are { 1 ) to distribute any funds made available by gift to the Baptist denomination upon terms and conditions which call for a disbursing com- mittee and (2) to devise ways and means of encouraging Baptists to m.ake gifts to the Baptist cause by will and other- wise and to report with its recommendations to the next ses- sion of the Baptist State Con\ention. Dr. B. W. Spillman, President of the Con\'ention, in the exercise of the authority conferred upon him, named the following as micmbers of the Foundation Committee: W. N. Jones, Raleigh; Charles H. Durham, lAimberton; John A. Oares. Favette\'ille ; Rob- ert E. Rovall, Wake Forest: and Gilbert T. Stephenson, Winston-Salem. The Committee met in the office of the Editor of TJie Biblical Rcci)'der, Raleigh, on Monday, December 15th, 1919, and organized by electing W. N. Jones, Chairman, and Gilbert T. Stephenson, Secretary. The Committee had invited to sit in conference v.'ith it at its initial session a number of Baptists particularly identified with the life of the denomimation in the State and, in addition to these, Col. F. FT Fries and Mr. A. H. Eller, President and Trust Officer, respectively, of the Wachovia Bank and Trust Com- pany. The following were present: Dr. Eivingston John- y/AKi FOREST UNiVERSlir 2 The North Carolina Baptist Foundation son. Mr. Archibald Johnson, Dr. W. L. Poteat, Dr. Charles E. Brewer, Dr. Walter X. Johnson, Dr. R. T. \ ann. Rev. J. M. Arnerte, Dr. J. B. Weatherspoon, Mr. AValters Dur- ham, Mr. John H. Boushall, Dr. Weston Bruner, Rev. J. D. Moore, Mr. W. A. Cooper, Mr. Carev J. Hunter, Mr. J. M. Broughton, Mr. V. O. Parker, Mr. E. L. Mid- dleton, Dr. W. R. Cullom, Mr. Santford Martin, Rev. Wilbur G. Hall, Dr. T. J. Taylor, Mr. W- O. Riddick, Rev. W. A. Smith, Rev. Joel S. Snyder. Mr. John A. Oates, Mr. E. F. Aydlette, Rev. J. G. Blalock, Rev. William Her- bert Moore, Dr. B. W. Spillman, Rev. J. M. Page, Mr. G. W. Suttle. Rev. C. H. Durham, Dr. M. L. Kesler, Rev. J. Clvde Turner. Rev. W. R. Bradshaw, Mr. W. X. Jones, Rev. T. H. King, Col. F. H. Fries, Mr. A. U. Filer, and Mr. Gilbert T. Stephenson. After a thorough discussion ol the matter, participated in by those who had been invited as well as by the members of the Committee, it \^ as the concensus of opinion that Bap- tists should be urged to make gifts bv will as well as gifts during life to the Baptist cause, that they should make their gifts directly to the Xorth Carolina Baptist Founda- tion and that the Foundation Committee should select some trust company to administer the fund. Upon the motion of Mr. E. F. Avdlette, it was unanimously recommended by those in the conference that the Conimittee should name the Wachovia Bank and Trust Company trustee of any funds or properties given to the Xorth Carolina Baptist Foundation pending the action of the Baptist State Con- \ention at its next regular session. The Committee, at a called meeting on Tuesday, December 16th, 1919, in Ra- leigh, accepted the recommendation of those participating Tlie North Carolina Baf'tisf Foundation in the conference and designated the Wachovia Bank and Trust Company trustee or any funds and properties given to the North Carolina Baptist Foundation pending the action of the next session ot the Baptist State Con\'ention. The Committee, furthermore, decided to issue a statement to the Baptists of North Carolina explaining to them the terms of the Foundation and urging them to make gifts to it. The North Carolina Baptist Foundation is a trust fund created bv the assembling of many gifts, large or small, by Baptists or those interested in the Baptist denomination for the promotion of the Kingdom of God on earth rh rough the institutions and agencies of that denonaination. One may make his gift to the Foundation by delivering to some member of the Committee an amount of money or check or stocks or bonds or tangible personal property or by con- veying real estate to the North Carolina Baptist Founda- tion. That is, one may make a gift to the Foundation just as easily as he can make a gift to any incii\ idual. In fact, the first gift to the Foundation was a Liberty Bond for Si, 000. 00 enclosed in a letter in which the gi^■er stated the object for which he wanted the gift used. In making his gift to the Foundation the gi^'er may stipulate that the principal shall be held in trust and the income used, or that the principal itself shall be used, or that the principal shall be held in trust a definite period and then used. He may designate the object or objects that he wishes his gift used for or he may make his gift to the Foundation and leave to the Committee to designate the object or objects. Fie mav. for instance, designate that the principal or the income shall be used for some particu- lar schools or for education in general; for some particular 4 The y,ojih Carohna Baptist h oundation Baptist Orphanage or for the care oi orphan chlMi'en in general: for some particular kind of Missions or for Mis- sions in general; for a particular Baptist hospital or sanl- torium, or for such Baptist institutions in general ; or he mav simply ]ea^■e his gift in trust and let the Committee designate the object lor which it will be used. The distribution or the funds made a\'ailab!e through the Foundation vrill be entirely in the control of the Baptist State Convention through its Committee known as the North Carolina Baptist Foundation Committee. This Com- mittee will, of course, follow the directions of the maker of the gitt insofar as it shall be practicable to do so. But if it shall at any time become unreasonable or impracticable to follow the letter of the directions of the maker of the gift, then the Committee will endeavor to follow the spirit of the maker of the gift rather than let his desires be frus- trated. If, for instance, one should make a gilt to a Baptist institution and that institution should go out of existence or should no longer need the gift, then the Committee would not let the income accumulate but would use it for the ob- ject that would, in its opinion, most nearly meet the desires of the maker of the gift. This Committee will be answer- able to the Baptist State Convention and its personnel will be determined by the action of the Convention. The actual business administration of the fund will be in the hands of an experienced trust company. That is, the trust company will recei%-e the funds and properties from the Committee, will invest them, \\\\\ collect the in- come, will keep the books, will make the required reports, and will pay out the funds available upon the orders of the Committee. The trust company will have nothing what- The 'Sorth Carolina Baptist Foundation ever to do with the distribution of the fund. It will take care ot and m\'est the iund \\\t\\ the same care and pru- dence and foresight that it would invest the trust funds of individuals. The Baptist State Convention will have authoritv, either by its own ^'ote or through its Committee, to name the trustee and to change the same, trom time to time. The North Carolina Baptist Foundation is intended to satisfv four long-felt needs of the denominations: (1) an agencv through which Baptists may have brought to their attention svstemaricallv the need of m.aking gifts bv will to the BaptisE cause; (2) a means whereby Baptists mav make gifts to the Baptist cause in general and let a responsible and responsive Committee designate from time to time the needs of the denomination to which the available fund shall be applied; (3) an assurance that trust funds for the Bap- tist cause, little and big, vrill be preserved as a sacred trust and at the same time administered in a progressive man- ner; and (4) the creation of a great reserve fund upon v\-hich the denomination may call in any hour of emergency or to meet anv extraordinarv need. The Committee believes that the Baptist Foundation will meet each of these needs. Heretofore, it has not been the special business of any agency of the denomina- tion to appeal to Baptists to remember their denomination in their wills or in special gifts during their lives; hereafter, it will be the business of the Foundation Committee to call to the attention of Baptists from time to time the duty of recognizing the principles of Christian stewardship in their wills as well as in their gifts during life. Hereto- fore, it has been well nigh impossible for a Baptist to make The A orth CaroU?ia Bapiisf Foundation a gitt in trust for the Baptist cause in general because there has been no agency to receive and administer the fund; hereafter, a Baptist may make his gift to the Foundation with the assurance that it v/ill be handled bv a Connnittee. the personnel of \^-hich is changing from time to time, but the duties of which are coiistant, and that it will be handled tor the benetit of the denomination in spite of the changing conditions and demands. Heretofore, trust funds for the se^■eral objects oi the denomination have had to be handled bv the Boards of the denomination composed, for the most part, of men who had their own business to attend to and could not, in the nature of things, give the managenient of the trust runds the constant attcPition that their own business requires; hereafter, trust funds given to the Founda- tion ^^■ill actually be administered bv some trustee, either corporate or individual, designated bv the Baptist State Convention, whose daily business it is to handle trust funds so as to make the principal absolutely safe and vet produc- ti^"e of the largest income possible. Fleretofore, the man of large means has hesitated to lea\'e large gifts to the denomination because the denomination had no agenc^• the pnmarv object of which was to administer those funds, and the man of small means has hesitated to make his little gift to the denomination for fear that it was too small to count; hereafter, all gifts, large and small, will go into the common fund and be handled in the same systematic, busi-. nesslike wav and the man that has millions and the widow M"ith her mite have equal assurance that their respective gitts will be made to count for the most possible in the life of their denomination. The North Carolina Baptist Foundation will become a vital force in the life of the denomination onlv insofar as TJie A orth Carolina Baptist Foundation 7 present gifts are made to it. The Committee v.'ill urge Baptists to make provisions for the Foundation in their v«'ills. but it now urges Baptists to make present gifts to the Foundation. One loyal Baptist has already given a SFOOU.OO Liberty Bond to the Foundation. The Committee earnestlv hopes that other Baptists will do likewise and that before the next session of the Baptist State ^Tonven- tion a number of gifts — money, stocks, bonds, land — will be made to the North Carolina Baptist Foundation. Respectfully submitted, W. N. Jones, Chairman Charles H. Durham John A. Gates Robert E. Royall Gilbert T. Stephenson The A orlh Carolina Baptist Foundation altf 13tt.ptt5ta' ^iTit nf t!ir irouuiuttinu Dr. B. n\ Spilhiuin To iht Frituds of the Kjnijdom of Christ, — GREtynXG: The North Carolina Baptist Foundation has come at the right time. A new day is here. Wealth is increasing at a very rapid rate. Baptists and their friends share largely in this prosperitv. We are a large part of the population. The AVorid War has given to all of us a new vision of the world's needs; it has taught us a new lesson in stev."- ardship. Through the years the Kingdom of God has lost many gifts by reason of a lack of adequate machinery for handling them. The Wachovia Bank and Trust Company, the trus- tee for this fund, inspires confidence. A gift placed with this company is safe. It will serve the Kingdom of God through the years, and will ser\e in the place most needed. Tet us make our immediate objective at least one mil- lion dollars of undesignated gifts to this Foundation. We ought to do it for Christ's sake. We can do it. I believe that we will. The A 'jrth Car^jUna Baptist Foundation ahr ^^nrlh dlarnlttta lliapttst iFnunijattnu (^ommittr? / ^ X \ Mr. \V. X. Jo\E; Lawyer; A.B., Wake Forest College: ^'ice-P^esident of Raleigh Banking and Trust Company; Director, Raleigh Banking and Trust Com- pany and Mechanics Savings Ban k ; Cha!nr,an, North Carolina Baptist Foandation Committee; President, North Carolina Baptist State Con- vention, 19'^5-06; President, Board of Trustees of Mere- dith College. d Rev. Charles H. Durham A. B.. Wake Forest College; Pastor, Baptist Church, Lum- berton, X. C. ; President, Baptist State Convention, 1911-14; Trustee, Southern Baptist Theological Semi- nar-»'. Louis\-i!le, K_\'. ; State Member. Home Mission Board, Atlanta, Ga. ; mem- ber, Board of Education, Baptist State Convention. jO r iie 3. or'/; Ccrolnu: Baptist FoundothjTi / / X X \ Mr. John" A. Gates Lawyer; A. B., Wake For- est College; Presideni, Board of Trustees of Wake Forest College; President, Baptist State Convention, l''-i\h-\~ \ Trustee, Southern Baptist Theological Seminary, 1916- 19; Chairman, Board of Directors, Baptist Seaside Assembly since organization. X y ■fe-..^^,.-.. ./" Mr. R. E. Rovall A. B., Wake Forest College; Manager and Director, Roy- all Cotton Mills; Director, Bank of Wake and the At- lantic Fire Insurance Com- pany; Trustee, Wake For- est College since 189iJ, with the exception of the years 1S96 and 1897, when not a resident of this State. The A nrtli Carolhiii Br.pfist FoundiTfion 11 Mr. Gilbert T. Stephenson^ Lawyer; A. E. and A. M., ^^'ak•e Forest College; Vice- President, Baptist State Con- vention, 1911-1912; mem- ber, Board of Trustees of \^'ake Forest College since 1912; elected President of Board in 1919. 12 The 2\ 0!-/h Carolina Baptist Foundation FORMS OF GIFFS FO FHE NORFH CAROLINA BAPFISF FOUND AFION For General FiirposcS — I bequeath to W. N. Jones. Charles H. Durham. John A. Oates. Robert E. Rovall. and Gilbert T. Stephenson, constituting the North Carolina Bap- tist Foundation Comiiiittce, and their successors in office, tine sum of S in trust for such objects and uses as shall be desiuiv.ued rrom time to time bv the Bap- tist State Convention of North Carolina. For Speripc PurpC'^cs - — 1 bequcath to W. N. Jones, Charles H. Durhani, John A. Oates, Robert E. Royalh and Gilbert T. Stephenson, constituting the North Carolina Baptist Foundation Committee, and their successors in of- fice, the sum of S in trust to in\'est and apply the net income to the support of (Same of particular charitahlc inslUulion or object desired.) Rcmnindcr to Foundation after Prior Life Estate — The remainder in fee smiple of the property hereinbefore devised or bequeathed for life, upon the termination of said life estate, I hereby devise and bequeath to W. N. Jones, Charles H. Durham, John A. Oates, Robert E. Royall, and Gilbert T. Stephenson, constituting the North Carolina Baptist Foundation Committee, and their successors in office, (etc., as above). Gift to Foiindrition Ditrinq Life — T give (Amount of Money or Description of Property.) to W. N. Jones. Charles H. Durham, John A. Oates, Rob- ert E. Rovall. and Gilbert T. Stephenson, constituting the North Carolina Baptist Foundation Committee, and their successors in office, (etc., as above).