Fraternity-Testvériség, 1973 (51. évfolyam, 1-12. szám)
1973-04-01 / 4-6. szám
I 1 The requested actuarial reserve was $266,544.00 out of which $224,544.00 is founded. (Above balance and part of the Unassigned Fund) The Fund had 15 participating members and 4 pensioners on December 31, 1972. 2) I attended 53 conferences of the Executive and Investment Committee. As a member on the Investment Committee I spent considerable time in conferring with our attorney in connection with thte Ross vs. Federation suit. 3) As one of the associate editors, I wrote 2 Hungarian and 4 English articles in the “Fraternity”. 4) I regularly checked the books of the Home and have found them in perfect order. The Bethlen Home is in excellent financial shape. Complying with the request of the Board I prepared another cost calculation for the operation of a 75 and a 100 bed skilled nursing home based on the data received from the Pennsylvania Welfare Department and taken from the books of the Home. 5) I am also the Controller of the Bethlen Freedom Press, Inc. It is my opinion that we shall transfer this operation into another building erected specifically for the purpose of a print shop and use the present print shop building as a wing of the nursing home. X. SUMMARY We suffered heavy losses in membership and number of certificates. According to the last census 701,000 Americans reported that their mother- tongue is Hungarian. The combined membership of the two leading Hungarian fraternal organizations is perhaps 10% of that figure. If we could reach just five percent more of this huge reservoir, we would witness a phenomenal progress. We must find more effective ways of showing the outstanding services rendered by our Federation to the Hungarians during its seventy-seven years history and they will join our ranks. The $329,412 increase in insurance in force is even less than the $357,946 achieved in 1971. The poor result is primarily attributable to the somewhat lower new business written and the higher losses resulting from death and surrender claims. We had $292,688.96 gain in our mean assets. Unexpected jump in expenses and bankrupt mortgages are responsible for this less than spectacular result. Yield on the invested assets went down from 4.96 to 4.91 and our Unassigned Fund increased by $44,381.20. The solvency ratio improved from 113.37 to 113.45, a very encouraging reflection on the financial standing of the Federation. * * # It is my pleasant duty to report that I enjoyed excellent support and cooperation from my office force. Mrs. Katalin Paschke, secretary and claim adjuster; Dr. Zoltán Korossy, machine operator and statistician; Mr. Gyula László, head bookkeeper; Mrs. Katalin Galanthai-Nagy, assistant claim adjuster and bookkeeper; Miss Elizabeth Nagy, Mrs. Adrienne Vegh and Mrs. Agnes Kiss, bookkeepers, are all worthy of the moral and financial recognition of the Board. I express my sincere appreciation to our advisers for their expert support during the last year. In Dr. Paul Har- sanyi we gained an outstanding Medical Director and a very co-operative co-worker. I gratefully acknowledge the co-operation of my fellow-officers and I thank you, Gentlemen, for your understanding, concern and fellowship I was happy to enjoy during the past year. I hope that my report will meet your approval and gain final acceptance. Respectfully submitted, László L. Eszenyi Controller PRAYER SAID BY VICE-PRESIDENT TIBOR TOTH OPENING THE BOARD MEETING ON MARCH 30, 1973 Almighty and Everlasting God, our Heavenly Father, we thank Thee that Thou hast preserved us through another night and brought us in safety to the beginning of this day. Direct us in our duties and guide us all by Thy counsel. As we commemorate the 150th Anniversary of the birth of Alexander Petőfi, we thank Thee that our Federation had the opportunity to appear before the highest forum of our government, the Congress of the United States, to hear witness to the principles this great poet and patriot espoused. With pride in our hearts we call to remembrance he who lived and died for the principles of liberty and justice for all. With pride in our hearts we call to remembrance Louis Kossuth as he stood in the Hungarian House of 22 Parliament and moved the hearts of men by his eloquent and prophetic oratory. Their spirit is our priceless inheritance. God forbid that we should ever be ashamed of our Hungarian heritage. Give us, O God, the spiritual and moral fortitude that we may always keep the beneficial traditions and the great heritage of Hungary in the minds of the American people. We also call to remembrance the present, an enslaved Hungary, a people deprived of their freedom and God given rights. O God, preserve us through the black night of our present tragedy. Lift up our hearts and assure us that that though the clouds be dark the stars are still there and the beacon of liberty still shines. God, our Heavenly Father, we believe and trust in Thy righteousness, and if Thou be with us and our people, who can prevail against us ... Amen
