Accounts of the Year ended August 31st, 1959
THROUGH THE CONTINUED KINDNESS of Mr. L. W. Moscrop we are able once more to present a certified account of income and expenditure. The growing demand for PRECIOUS SEED has naturally involved a corresponding increase in the cost of printing and distribution, but donations have not kept pace with the rise in circulation, so that the expenses exceeded income by if £71 2s 11d
We recently carried out a revision of the mailing list to ensure that no magazines were being wasted; the cost of carrying this out, by way of extra stationery and postage, is reflected in the account to only a limited extent because a good deal of the expense was met privately by the members of the Committee.
It was expected when readers were requested to renew their orders that there would be a considerable drop in circulation, but it is gratifying to be able to report that it amounted to only 3 per cent. This is such convincing evidence that the magazine is valued that we need not take up space by quoting from the many encouraging letters we get from all parts of this country and abroad. Looking over these letters we arc particularly cheered by two things (a) testimonies from assembly correspondents to the effect that young believers arc being established in assembly life; (b) testimonies from English-speaking Christians of other nationalities who assure us that their fellow-countrymen are being helped. One affecting letter, which had to reach us in a round-about way, conveyed warm appreciation from a group of believers in a part of the world where we did not expect PRECIOUS SEED to penetrate. Verb. sap.
It is evident that the Lord has seen fit to bless our service and we count on Him to supply the need if this ministry is to continue. During the past twelve months new orders have been arriving in a steady flow and circulation has now climbed to 13,750 which, of course, means that the cost of production and distribution will inevitably rise still further. Unless, therefore, the financial position is rectified we shall have to consider reducing the size of the magazine.