The BC Conference of 1898 enthusiastically approved the launch of a fund to be inaugurated the following year and completed within two years. What was left of the older 'Thanksgiving' and 'James Thorne Centenary' Funds were to be integrated into it. It was optimistically seen as contributing to 'the great forward march… for which the churches are evidently gathering up their strength'. The goal was to raise at least £25,000, to be divided between the Chapel Free Loan Fund (40%), the Preachers' Annuitant Society (20%), the Local Preachers' Aid Association (12%), ministerial education (8%), with the remaining 20% distributed between them. Any excess over the £25,000 was to go to missions, with China having first claim.
By 1901 the total raised stood at £13,093 and the fund was kept open until 1905, when the total had reached £21,462.