Fraternity-Testvériség, 1976 (54. évfolyam, 1-4. szám)
1976-04-01 / 2. szám
I IX. MEDICAL DIRECTOR This was the fourth year I had the privilege to work with Dr. Paul Harsanyi, Medical Director. He co-operated with us in good spirit. He only approved those applicants whom he considered first class standard risk cases from a medical point of view. I had the pleasant experience of working with him for the welfare and the benefit of the Federation. The Mortality ratio of the HRFA is one of the lowest in the insurance industry. The U.S. death rate wavered up and down during the past 25 years. It dipped in 1974 to 9.2 per 1,000 population, the same for 1954. The death rates in 1954 and 1974 were lower than in any years since statistical recording was started in 1900. The mortality ratio of the HRFA was reduced by 50 percent of the U.S. mortality record as a result of limiting the risk factor to the acceptance of members by a careful and strict selection of first class standard medical risk cases. The mortality ratio of the HRFA in 1975 was 4.1 X. 80th ANNIVERSARY PRODUCTION CONTEST The HRFA will celebrate its 80th Anniversary in 1976. The branches in our districts are organizing to sponsor local anniversary banquets, dinner-dances and festivals. In 1976 we shall also have TWO PRODUCTION CONTESTS with prizes awarded to the winners. One will be THE BRANCH MANAGERS — COLLECTORS — AGENTS CONTEST. And the other will be THE DISTRICT AND SECTION MANAGERS CONTEST. The terms of both contests were published in the 1975 December issue of the Fraternity. The winners of both contests and the statement of the productions of all participants will be announced at the 1976 Convention. * * * A tremendous amount of work had to be done in the administrative and underwriting sectors of my department. I express my thanks to Mr. Gyula László, Mr. George Topor and Mrs. Maria Alexa Szabolcsy for their dedication, cooperation, work and service. I also extend my thanks to Mrs. Palma George for her volunteerwork. Whenever it was needed she was willing to work free of charge as a dedicated member of the Federation. Respecfully submitted, Arpad George, Secretary * * * The column of the Rt. Rev. Arpad George, “From the Office of the Secretary”, will not be published in this issue because of lack of space. HOW MUCH IS CASH? IN GOD WE TRUST proclaimed the sign hanging near the store’s register. EVERYONE ELSE PAY CASH. But what good is the cash if its value changes from year to year? How can a man save for his retirement if the dollar he earned in 1950 buys half-dollar goods and services in 1970? IN GOD WE TRUST? Of course. But somebody will have to do something about that half-dollar dollar. 8 TREASURER’S REPORT for the year of 1975. Mr. President, Members of the Board of Directors, Fellow Officers: As I begin my report to the Board of Directors, first and above all, I thank God for giving me the opportunity to present this, my 15th annual report, for without the prayers of my family and friends it would not have been possible. There were times when it seemed doubtful that I would be in a condition to give this report, but God’s healing hands were on my shoulder and I feel they still are. And so, I submit my Treasurer’s Report for the year 1975 on the annual transactions and the condition of the Treasury, as required by the By-Laws. My report is based on the Ledger Assets of the Federation, which at December 31, 1975 were the following: STATEMENT OF LEDGER ASSETS Ledger Assets Dec. 31, 1975 U.S.A. Canada Book Value Cash: Check Accts.....$ 67,092.04 $ 76,998.46 Savings Acct. .. 40,000.00 $ 184,090.50 Petty Cash ..... 400.00 400.00 Bonds ............ 11,010,363.00* 343,398.00* 11,353,764.18* Loans: Mortgages....... 5,508,769.56 102,817.44 Certificates ..... 573,198.64 11,106.38 6,195,892.02 Real Estate .... 614,696.82 614,696.82 Due from Others ............ 7,730.13 7,730.13 TOTAL ........$17,782,250.19* $574,320.28* $18,356,573.65 *Difference of $3.18 is due to the dropping of cents in bonds in the Annual Statement. The increase in our Ledger and Net Admitted Assets were: December 31, 1975 December 31, 1974 Ledger Assets Net Admitted $18,356,573.65 $18,250,144.99 18,010,521.59 17,855,519.02 Increase in Assets ................$ 346,052.06 $ 394,625.97 VALUATION EXHIBIT Ratio of Assets to Liabilities 1971 .................. 113.36% 1972 .................. 113.45% 1973 .................. 113.29% 1974 .................. 113.63% 1975 .................. 112.46% Ratio of Net Investment to Mean Assets 1971 .......... .......... 4.96% 1972 .......... .......... 4.91% 1973 ........... .......... 5.06% 1974 .......... .......... 5.35% 1975 ........... .......... 5.46%
