Fraternity-Testvériség, 1975 (53. évfolyam, 1-12. szám)
1975-04-01 / 4-6. szám
the following summary on operation in 1974: Balance on Dec. 31, 1973 ....$256,371.00 Contributions from Members 6,774.34 Contribution from the Federation ...................... 12,000.00 Transferred by Examiners.. 36,000.00 Interest Income .................... 14,785.28 $326,430.62 Less: Benefits and Refund Paid ...................... 13,104.99 Balance on Dec. 31, 1974 ....$313,325.63 The requested actuarial reserve was $323,549.00 on December 31, 1974. We had 18 participating members and 7 pensioners. 2) As one of the associate editors I wrote 5 Hungarian and 4 English articles in the official publication. I wrote a book on the life and heroic death of Michael de Kovats, Colonel-Commandant of the famous Pulaski Legion in the Revolutionary War. I am asking your kind permission to publish it in the Hungarica Americana series. 3) I attended 39 conferences of the Executive Committee. 4) I attended 8 meetings in the Bethlen Home. Five with the Board of Managers, one with the Board of Directors and two with the Building Committee. The construction of the new wing and the gradually expanding operation added to my workload as Controller of the Home. I honestly admit that I spent a few sleepless nights worrying about the feasibility and financial soundness of this project. But now that the beautifully reconstructed and expanded home is waiting for more destitute old people, I feel no regret but deep grati- tute to the Lord who permitted me to take part in this fine Christian and fraternal endeavor. I am almost weekly in contact with the Superintendent and the bookkeepers of the Home supervising the financial operation. I can safely state that the Home, as a whole, is in good financial condititon. The Children’s Department is in red for many years and only the ever-growing income of the Old People’s Home could absorb the deficits. 5) After nine years of hopeless struggle we closed the operation of the Bethlen Freedom Press and sold the chattel to the Bethlen Press, Inc. for $30,- 000.00. X. SUMMARY Events of the past year proved that the insurance trade is not effected as much by the deteriorating economic conditions as other business enterprises are. Uncertainty made people more security conscious. The protection aspect of the insurance contract was more desirable than the saving element. The sale of term insurances with high face value and low premium prevailed over the sale of endowments. If this trend continues, we have to increase considerably our new business in order to raise or at least keep on the present level our dues income. We suffered losses in membership and number of certificates but the rate of decline has slightly improved. The more than $600,000.00 increase in our insurance in force was not enough to stop further decrease of our dues income even though our single premium income (C.S.C.) reached an all-time high. This setback, however, has been due more to the rapidly growing non-premium paying insurances than to the fact that we replace higher premium paying certificates by terms. Endowment plans represent a large part of the new business. The $344,286.28 increase in our net admitted assets is a good average achievement comparing to our past performances. The constantly improving bond performance is primarily responsible for the higher yield on our invested assets. It went up from 5.06 to 5.35 during last year. The $150,910.79 net profit on operation is a better than average showing and the increase of our solvency ratio from 113.29 to 113.63 is an excellent reflection on the financial standing of the Federation. Our expenditures after deductions amounted to $698,055.00, a mere $24,- 894.00 under the New York State expense limitations. A further liberalization of the limitations may be expected, according to the Actuary. o-o-o-o-o-o I express my sincere appreciation to every employee of my office. I could not possibly carry out my diversified duties without the able and dedicated help of Mrs. Katalin Paschke, secretary and claim adjustor; Dr. Zoltán Ko- rossy, statistician and machine operator; Tibor Baksy, head bookkeeper; Elizabeth Nagy, Mrs. Adrienne Vegh, Mrs. Ibolya Harangozó and Mrs. Katalin Galanthai-Nagy, bookkeepers. Every one of them richly deserved the moral recognition and fiancial reward of the Board. I gratefully acknowledge the cooperation received from my fellow-officers, advisors, district, section and branch managers. 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 by, László L. Eszenyi, Controller OPPRESSION OF HUNGARIANS IN TRANSYLVANIA The oppression of Transylvanian Hungarians by the Rumanian Government has been under discussion by the Ways and Means Committee of the House of Representatives. The discussion came as a result of a bill President Ford sent before Congress to place Rumania on the United States’ list as a “Most Favored Nation.” The officers of the American Hungarian Federation appeared before the Subcommittee, which held the related hearing on May 8, 1975. Representing the American Hungarian Federation were Dr. Zoltán Beky, President, László Eszenyi, and Dr. Zoltán Száz. In their memorandum to Rep. AI Ullman, Chairman of the Committee, they described the plight of over millions of people deprived of their civil and religious liberties. The gentlemen asked the Committee not to approve the bill until the Rumanian Government guarantees the civil and religious liberties for the Hungarian people of Transylvania. 22
