Bethlen Naptár, 1956 (Ligonier)
The Assets of Our Celebrating Federation
BETHLEN NAPTAR 147 The Assets of Our Celebrating Federation A Backawrd Glance. — Starting Capital and its Growth. — The Assets of the Funds. — The Assets Invested. — Handling of the Assets. — Supervision of the Assets. — The Obligations. The Good Deeds. A BACKWARD GLANCE. On July 5, 1956, our Federation will have completed its 60th year of unceasing labor of love and altruism. It is worth taking a backward glance at this point into the life of this organization and pointing out, as well as measuring, all that it has done through the years, beyond fulfilling its sick benefit and life insurance commitments, in the spirit of compassionate brotherly love, love of country, and love of God. Starting Capital and its Growth. OurFederation’s starting capital Dec. 31,1896 320memb. $ 272.16 tt listed assets ii it1901 884 J> 1,197.85 a a a it a tt1906 2,030 it 3,274.74 tt a a a a a1911 2,665 tt 14,151.77 a it it a a tt1916 4,032 tt 48,618.22 a tt a it a a1921 7,154 tt 142,329.94 a a tt it tt tt1926 7,442 it 498,759.29 it it tt tt tt it1931 7,196” 855,609.03 it tt tt tt tt a1936 15,486 It1,130,839.97 it a tt tt tt it1941 21,863 certif. 1,705,227.08 a tt tt tt tt tt1946 28,753 It2,904,544.23 a tt it tt it it1951 32,374 it4,995,268.18 a tt tt it tt it1954 34,967 ” 6,671,000.33 a tt tt tt Sept. 1,1955 34,980 it7,089,328.00 At this writing, September 1, 1955, the reported assets of the Federation have increased to $7,089,328.00 since its founding, and by the time it reaches its 60th year, the assets will exceed $7,500,000.00. It is conspicuous in the foregoing report that both the membership and assets showed a sharper increase from one five-year period to the other after 1931, than for similar periods in the 35 previous years. The explanation and reason for this is given in the resolutions made by the 1931 Convention and the measures taken by the Supreme Council elected for the following four years. At the Convention held on the occasion of our Federation’s 35th year of existence, the Federation reached its life’s crossroads. The President placed the following question on the agenda for discussion: Shall we give up the original name of our Federation and its Reformed character and become similar to other American Hungarian life insurance societies or remain the Hungarian Reformed Federation of America, and for how long? The result of the brief discussion of this question by the delegates can be summed up in this one sentence: We shall remain the Hungarian Reformed Federation of America. The second important matter on which the Convention had to make a decision was the future of the orphanage. The maintenance of this charitable institution meant heavy burdens and such excessive expenditures for the Federation, that several members
