Involved in Debt

Mrs. White’s apprehensions regarding the new enterprise were well grounded, as shown in the financial statement rendered at the second annual meeting of the Health Reform Institute, held on May 15, 1868. This was not so pleasing as that of the previous year. According to the auditor’s report, the institution had done a patient business of only a little over $1,000 a month. The difference between receipts and expenditures for the year showed a balance of operating gain of a little over $1,000, but this consisted entirely of accounts receivable. The institution was owing over $13,000 as against $1,500 due to it. The Review and Herald, May 26, 1868.SHM 180.5

In harmony with Mrs. White’s counsel, an important action was taken at this time. The financial policy of the institution was changed in order to make it a missionary enterprise. It was voted to dispose of future dividends “for all coming time as far as practicable, to the directors of the institute, for its charitable uses and purposes.” (Ibid.)SHM 181.1

The stockholders were requested to forego the expectation of dividends on their investments. Provision was made whereby any who were unable to make their investments as a donation might be reimbursed as their stocks were replaced by others. Not only did the constituency of the Health Reform Institute adopt the recommended change in the constitution but, as reported by Elder White, “the entire conference, and as far as we could learn of, its friends everywhere, were in favor of conducting it on the same liberal, benevolent plan as that of the publishing association.”—Ibid., June 2, 1868.SHM 181.2

By this time Elder White’s health had so far recovered that he was again taking an active part in the management of the work. At the constituency meeting he was elected to, and accepted a place on, the board of directors. He was soon able to report that many of the stockholders had already “so arranged the matter of their stock as to cut off all income from it forever.” He pointedly reminded some of the brethren who had given as a reason why they had taken little or no stock in the institution that they objected to the plan which made investment in the institution a matter of profit instead of liberality, that this objection was removed. Now they were urged to take new stock or to purchase the stock of some who had invested more heavily than they were able to, as a matter of charity. The Review and Herald, June 16, 1868.SHM 181.3