Fraternity-Testvériség, 1969 (47. évfolyam, 1-12. szám)

1969-04-01 / 4. szám

BANK RECONCILEMENT, December 31, 1968

Cash “H.R.F.A.” Checking Account,

December 31, 1968 ..............................................$ 135,787.13

Outstanding Checks, December 31, 1968 ............ 52,020.43

Balance forwarded to January 1, 1969 ...-............$ 83,766.70

b. The Bank of Nova Scotia, Toronto, Ontario, Canada “H.R.F.A.” Canadian Office General

Account

STATEMENT December 31, 1968

Total Receipts, 1968 ......................................................$152,043.54

Total Disbursements, 1968 ........................................ 123,855.05

Balance, December 31, 1968 .....................................$ 28,188.49

BANK RECONCILEMENT, December 31, 1968 Cash “H.R.F.A.” Checking Account,

December 31, 1968 .......................................................$ 29,449.22

Outstanding Checks, December 31, 1968 ________ 1,260.73

Balance forwarded to January 1, 1969 ....................$ 28,188.49

In our official publication, “Fraternity” together with the Controller we publish a monthly statement of income and disbursements. Each month the Income from Branches report is also listed in the publication.

II. PETTY CASH

This fund takes care of incidental expenses paid by cash In the Home Office.

TOTAL MORTGAGES,

December 31, 1968 ................ $6,213,794.34

On all mortgage documents we had the legal opinion of our Counsellors, Alex B. Eger, Jr. in the United States and Elmer J. Isaac in Canada, before any funds were disbursed. They were prompt and efficient in handling the legal matters to protect the interest of the Federation, for which I extend my thanks and appreciation.

To Max Blum and Jerry L. Wilson of the Blum & Wizon Company, Newark, N.J., who have handled some of our larger mortgages and have advised us in the purchase and sale of bonds, I extend my appreciation and thanks for their services in my department.

b. Certificate Loans*

Loan on Certificates of members, December 31, 1968:

United States ..........................................-..$ 491,748.77

Canada ________________________________ 79.42

TOTAL ..................................................................$ 491,828.19

*The Office of the Controller keeps an itemized record of this item.

SUMMARY December 31, 1968

a. Mortgages .........................................................$6,213,794.34

b. Certificate Loans and Liens______ 491,828.19

TOTAL............................................. $6,705,622.53

III. BONDS

The Federation owned the following bonds on December 31, 1968:

Par Value Cost

Bonds owned,

December 31, 1967 ...........$7,330,250.00 $7,207,148.23

Increase in Par

Value and Cost .................. 661,000.00 623,853.19

Bonds owned,

December 31, 1968 ...........$7,991,250.00 $7,831,001.42

IV. LOANS

a. Mortgages

In the United States the Federation placed $341,854.27 in first mortgage loans in 3 churches, 5 residences and 2 commercial and industrial properties: and in Canada we placed $86,500.00 in one residence and 2 commercial properties. We received $5,400.00 in placement fees as shown on our Annual Statement.

On Dec. 31, 1967 in the United

States in mortgages we had $6,288,218.07

Decrease in U.S.

mortgages in 1968 ________ -295,634.27

Balance of mortgages in the

U.S. December 31, 1968 ....... $5,992,583.80

On December 31, 1967 in Canada

in mortgages we had ............$ 145,304.56

Increased in Canadian

mortgages in 1968 .................... +75,905.98

Balance of mortgages in

Canada December 31, 1968 _ 221,210.54

V. REAL ESTATE

SUMMARY OF REAL ESTATE December 31, 1968

a. Property occupied by the

Federation #IV ................................-.........-..........$408,514.03

b. Property acquired in satisfaction of debt

X. Sebring, Florida ................$ 31,187.00

XI. Chino, California .............. 33,808.63 64,995.63

c. Investment real estate:

III. Branch Office,

Bethlehem, Pa.................................$ 92,719.94

IV. Branch Office,

Cleveland, Ohio_______________ 71,070.72

VI. Branch Office,

Detroit, Michigan ........................... 17,504.03

VIII. Branch Office,

Columbus, Ohio.........................-... 28,921.52 210,216.21

TOTAL REAL ESTATE OWNED BY THE FEDERATION,

December 31, 1968: $683,725.87

VI. DUE FROM BRANCHES

A record is kept by the Controller.

Due from Branches:

United States (shortage) ...................$1,760.69

Canada (shortage) ........................ 995.61

TOTAL $2,756.30 $2,756.30

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