Word: boult
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Dates: during 1930-1930
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...that it is God "that giveth thee power to get wealth," in their cases $154,258,455 collected from 22,609,989 church members to care for 110,000 ministers. Yet they wanted manly wisdom on the investment of that wealth. Dispenser of the wisdom was Rev. William Thomas Boult, 43, who worked two years for Scranton, Pa. investment bankers before becoming treasurer of several national Congregational organizations...
Diversify your church wealth thus, advised Mr. Boult...
Alter the percentages slightly as economic conditions and the general investment market changes. No pension or other denominational board which Mr. Boult could discover owns common stocks. He approved that situation, because common stocks have a speculative aspect and churches must be certain of their investment income. Also many churchgoers deem all speculation unholy gambling; and "organizations becoming partners through stockholding in an industry expose themselves to the charge of prejudice in favor of the industry...