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at public auction for LESS money than it would cost to buy and set
up the iron fence and gates around the west half of this property.
And yet it cost the original owner over a million dollars to build
this fine structure in 1905, and would cost probably 3 million
today if it could be built at all--for the fine imported woods in
it could not be bought at any price today. This was purchased for
us by men who expected to simply donate it to the college. Most of
the donation money failed to come through--but $35,000 of it did,
and we managed, four years ago, to raise the remainder of the down
payment, which was half of the entire purchase price.
And so it is that these fabulous properties, with the
magnificent campus grounds, have come to us for less money than it
would ordinarily cost to build a small, unattractive, poorly
constructed "cheap" college.
I have felt that our Co-Workers ought to KNOW these
facts--and to KNOW that a mighty small portion of the income for
this great work goes on property and buildings--but, instead,
releases the main portion of income for PREACHING CHRIST'S GOSPEL
IN GREAT POWER AND MAGNITUDE OVER EVERY CONTINENT ON EARTH TODAY.
Without the college this work could not be carried on. The
college provides opportunity for students to work their own way
through--and employs them in important phases of this work while
they are being trained for larger responsibilities. It is a
MARVELOUS program. We thank our living HEAD, Jesus Christ, for it
all!
Right now, however, the work--always growing at the rate of
30% each year over the year before--is in a most serious financial
bind. Additional properties unexpectedly put on the market, within
our planned campus zone in Pasadena, recently had to be purchased
or our whole campus RUINED, with factories being built on ground
jutting right into the midst of our college grounds.
I have had to ask Co-Workers who were able to GIVE large sums
at this time, and all others to give as much EXTRA as they were
able. I have also had to ask for any who could, to put money they
might need later into the work on a loan basis, so that in the
meantime that money could be WORKING for God. Some have responded
generously--and to you who have, I do thank you from the bottom of
my heart!
But it has not yet been enough to meet the large NEED. Some
few, who have had money either in a savings account, or in stocks
or bonds or other investments, have made this money available, so
it can be working in God's work--and on a basis so that, where they
have needed the income to live on, the same or larger amount may
still be received while the money is working in God's work. We
have found various ways to work this out, according to
circumstances in each case. So I do ask each one who may have such
savings or investments, to contact us personally, and we can then
see whether an arrangement can be made without injury or loss to
the lender or donor.
REMEMBER--whatever is given to this Gospel work as a donation