VI. BOARD OF PUBLICATION OF THE CUMBERLAND PRESBYTERIAN CHURCH.

MEMBERS.

Term expires in 1908:

Rev. W. A. Provine, D.D.

Mr. Hamilton Parks, Secretary.

Mr. M. G. Wood.

Office: Cumberland Presbyterian Publishing House, Nashville, Tenn.

ABSTRACT OF THE ANNUAL REPORT.

A BRIEF HISTORICAL SKETCH.-The organized work of publication in the Cumberland Presbyterian Church is about sixty years old. It began with the appointment by the General Assembly of a Publication Committee, which was without experience, without assets and without funds. A chartered Board of Publication was, a few years later, given the responsibility of construction and development. Interrupted in its early years by the Civil War, the work made slight progress for quite a period, though in spite of various hindrances its growth was as steady as it was slow.

A PERMANENT LOCATION.-The permanent location of the Board of Publication at Nashville, Tenn., dates from June 1, 1867, and the period of substantial accomplishment has been almost wholly confined to the ensuing forty years. The printing was at first done by contract, but in a few years a small printing plant was established. For a long time these printing facilities were somewhat meagre, but the plant has gradually been improved until it is now one of the best and one of the best known in the South.

THE PUBLISHING HOUSE.-The Publishing House was completed and occupied in 1891. The building is very handsome, substantial and commodious, the property now being easily worth $100,000. The erection of such a building at the time was a difficult and seemingly hazardous undertaking; but the wisdom and courage of those who planned the work have been amply vindicated. THE BASIS OF GROWTH.-The Board of Publication has from the beginning received comparatively little financial help. Donations and bequests placed at its disposal have aggregated less than $25,000 in its entire history. The handsome volume of assets presented in the report which follows have grown almost wholly out of the net earnings of the business of the House.

THE BOARD'S PERIODICALS.-Early in its history the Board began the issue of Sunday-school literature, adding a periodical from time to time, until at the consummation of the Church Union the line was more complete than that of any other denomination of equal numerical strength.

A FIFTEEN MONTHS' REPORT.-The Annual Reports of the Board of Publication of the Cumberland Presbyterian Church have been made for calendar years ending each on December 31. The report for the past year, however, is extended to March 31, 1907, thus conforming to the date of reports to be presented to this General Assembly.

REVALUATION. One of the business practices of the Board of Publication has been the thorough and careful revaluation of all the assets of the business every five years, and the end of such a period was reached December 31, 1905. The Publishing House and all property belonging to the business has, therefore, been revalued. This has been done item by item, and the values recorded may be relied upon as conservative and absolutely safe. The Publishing House property itself has been listed in recent years at figures decidedly below its actual value. In making the new valuation we have taken the current market