Fraternity-Testvériség, 1979 (57. évfolyam, 1-4. szám)

1979-10-01 / 4. szám

Much of the additional work done by us all during the move from New Mexico Avenue did not interfere with our everyday operations. This was a year that has brought forth many problems that have taken of our time and will be covered by other officers.

My appreciation and heartfelt thanks are extended to my fellow officers, Directors, Home Office employees and Field Force for their cooperation and assistance during the year.

Now is the time for us to look to the future with FAITH. This is best put forth in Hebrews 11:1 — “Now faith is the substance of things hoped for, the evidence of things not seen”.

We should all have the faith and understanding to believe in one another and have faith in the Organization we represent.

What great things we could accomplish if we could get everyone to cooperate and help us in enrolling new members. With faith we can ride out the storms of life and continue our journey safely to our destination. I hope that faith will prevail in all of us as we journey this road together.

I submit this report for your review and evaluation in the hopes it will be accepted favorably for the work concluded in the year of 1978.

Sincerely and fraternally yours,

E. E. VARGO, F.I.C.

National Secretary

Plan ahead—Buy your Insurance from the Hungarian Reformed Federation of America. Call your local Representatives, find their names on the last page.

ARE YOU MOVING? ? ? ?

Please Let Us Know Your New Address ....

Mailing Label From, This Publication NEW ADDRESS LISTED BELOW:

EFFECTIVE DATE ..............................................

Name ....................................................................

TREASURER’S REPORT

for the

year of 1978

Mr. President,

Members of the Board of Directors, Fellow Officers:

My report is based on the Ledger Assets of the Federation as of December 31, 1978 is as follows:

STATEMENT OF LEDGER ASSETS

Ledger Assets Dec. 31, 1978

U.S.A.

Canada

Book Value

Cash:

Check Accts.....$

300,523.26

$ 42,542.66

Savings Accts. .. Petty Cash .....

400.00

100,085.66

400.00

Bonds .............

14,105,296.00

686,978.00

14,792,274.00

Loans:

Mortgages ......

3,625,318.49

56,426.23

3,681,744.72

Certificates ......

533,091.48

6,527.60

559,619.08

Real Estate ....

17,504.03

17,504.03

Due from Others:

Escrow, Kop- pelman & Eglow

46.90

46.90

TOTAL ..........$18,602,180.16* $892,560.15 $19,494,741.00*

*The difference in amounts is due to the required dropping of cents on the Annual Statement.

The Valuation Exhibit of the Ratio of Assets to Liabilities and the Ratio of Net Investment Income to Mean Assets from 1970 to 1978 follows:

VALUATION EXHIBIT

Ratio of Assets

Ratio

of Net Investment

to Liabilities

Income to Mean Assets

1970

................. 112.02%

1970 ..

................... 4.59%

1971

................. 113.36%

1971 ..

................... 4.96%

1972

................. 113.45%

1972 ..

................... 4.91%

1973

................. 113.29%

1973 ..

................... 5.06%

1974

................. 113.63%

1974 ..

1975

................. 112.46%

1975 ..

................... 5.46%

1976

................. 112.04%

1' 76 ...

................... 5.53%

1977

................. 112.08%

1977 ..

................... 5.82%

1978

................. 119.06%

1978 ...

................... 6.28%

The following is a summarized report on the Ledger Assets:

Address ...............................................................................

City ......................................................................................

State ............................................... Zip Code ...................

Please mail this completed form to:

HUNGARIAN REFORMED FEDERATION OF AMERICA P. O. Box 34917 Washington, D. C. 20034

I. CASH ON CHECK & SAVINGS ACCOUNTS:

The Federation maintains all financial transactions on both the General Account and Transfer Fund Account with the National Bank of Washington, Washington, D. C. and in the Bank of Nova Scotia, Toronto, Ontario, Canada.

The banks mail monthly statements on all transactions which correspond with the balance of the ledger on all in8