Thursday, May 19, 2016

The United States Investment Company (Excerpt)

The following is an excerpt from Joseph Rutherford's A Great Battle in the Ecclesiastical Heavens (1915):



UNITED STATES INVESTMENT COMPANY

Much ado has been made by his enemies about business corporations with which Pastor Russell is connected, particularly with reference to the UNITED STATES INVESTMENT COMPANY.

The fact is that this company was never a corporation in the strict sense of the word. It was a limited partnership organized under the Statutes of Pennsylvania. Its capital stock was $1,000. Pastor Russell furnished that $1,000 out of his personal means.

This company was organized for the purpose of taking title to certain property which it did take over and afterwards disposed of, and every dollar that was received therefrom went into the treasury of the WATCH TOWER BIBLE AND TRACT SOCIETY, and was used for its religious work.

Pastor Russell did not receive one cent profit therefrom, nor has any other person ever reaped any pecuniary profit therefrom.
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16 Capital-Income This company has been out of existence for more than two years, and does not own anything today, even its capital stock being expended by the WATCH TOWER BIBLE AND TRACT SOCIETY in its religious work.

There is no corporation in existence anywhere in the world in which Pastor Russell owns a single share of stock, nor in which anyone else holds any stock for his use or benefit.

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