Fraternity-Testvériség, 1956 (34. évfolyam, 1-12. szám)
1956-04-01 / 4-5. szám
16 FRATERNITY THE ASSETS OF OUR CELEBRATING FEDERATION By Emery Király, Treasurer 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 Our Federation’s starting capital Dec. 31, 1896 ..........$ 272.16 Our Federation’s listed assets on Dec. 31, 1906 ........... 3,274.74 Our Federation’s listed assets on Dec. 31, 1916 ........... 48,618.22 Our Federation’s listed assets on Dec. 31, 1926 ........... 498,759.29 Our Federation’s listed assets on Dec. 31, 1936 ........... 1,130,839.97 Our Federation’s listed assets on Dec. 31, 1946 ........... 2,904,544.23 Our Federation’s listed assets on Jan. 31, 1956 ........... 7,302,379.49 It is conspicuous in the foregoing report that the assets showed a sharper increase from one 10-year period to the other after 1936 than for similar periods in the 40 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 recommended the dispersal of the orphanage and the placement of the orphans into foster homes.
