Mr. John Ae Rush, Los Angeles, Calif.
Jan. 4, 1940 |

needed to maintain a satisfactory condition, but keeping in mind
that in ten or fifteen years the present house will have served its
purpose and a new one will be needed. Consequently, no major
additions to the house have been made; the money for this instead
has been and will be applied toward the mortgage.

ne _ We have a ainking fund which is in the nature of a
Se sere and amounts at this time to approximately $1,500.
This is made up of house note payments and fe flevereused for

real expenses. We hope to build this up sufficiently to have a
Sigable fund toward the duwn payment on a new house,

| You way be certain that we will apply all available
income which is net required for other expenditures toward the
reduction of the mortgage. In thoss years in which the repgirs and
replecements can be helc to a minimum, and if the chapter can meet
the full rent requirement, it should be possible to pay $1,500 on
the mortgage per year. The problem we face, as you can understand,
is keeping the income ef the chapter up sufficiently to pay the rent
in full each year, and at the same time making repairs and replace-
ments cnly as they are needed to maintain the house and furniture
in a satisfactory condition. When we began working with the chapter
they were several thousand dollars in debt for furniture and were —
only paying $500 a month in rent. We have gradually been able to
increase the operating efficienty of the chapter up to a point where
it is now possible to pay cush for the new furniture and repairs
without eliminating any parts of the chapter program itself.

Your interest in this matter is certainly appreciated
and I hope that you will continue tc Sffer suggestions and commenta
from time to time,

Yours very trmly,

PRATERNITY MANAGEMENT, INC,

By ce E Oneterwary

CAG/haq