32/44 However, we shall soon know all about it. Skinyer is asking us all to come together one evening next week to draw up the articles of agreement." "Has he got the financial basis arranged then ?" "I believe so," said Mr.Furlong. "His idea is to form a new corporation to be known as the United Church Limited or by some similar name. All the present mortgagees will be converted into unified bondholders, the pew rents will be capitalized into preferred stock and the common stock, drawing its dividend from the offertory, will be distributed among all members in standing. Skinyer says that it is really an ideal form of church union, one that he thinks is likely to be widely adopted. |